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Today's Top Stories

  • Potential freight rail strike could mean further supply chain erosion
  • Samsung Electronics to invest over $5 billion towards 2050 net zero emissions
  • Terra's founder, Do Kwon, has a warrant out for his arrest after crashing crypto

Econ Bytes

Chicago Tribune

 

Here’s How the Freight Rail Strike Could Affect You

 

The US can't run without freight trains for long. As the United States risks the first national railroad strike in 30 years, economists and businesses are starting to worry that the nation's struggling supply chain will cripple. For context, railroads carry about 30% of the nation's freight, meaning higher inflation and widespread shutdowns will likely happen in the event of a strike. More than 460,000 additional long-haul trucks would be required to offset the potential idling of all 7,000 long-distance trains, but that isn't possible based on availability. Let's hope cooler heads prevail in this one.

 

Tech Bytes

Shutterstock

 

Samsung Elec to Invest Over $5 Billion Targeting Net Zero Emissions

 

Samsung Electronics is going big on zero emissions. By 2030, the company is planning on investing roughly $5 billion as part of its sweeping environmental initiatives. The long-term goal for the company is to be carbon neutral by 2050, and it hopes to achieve that by funding tech aimed at filtering out greenhouse gases, recycling resources, and capturing carbon dioxide. Far from the only dog in the fight, Samsung joins fellow tech giants such as Apple, TSMC, and Intel in its pledge to use 100% renewable energy. While Samsung is trying to adjust operating rhythms to make up for waste, ultimately the company sees technological development being the real catalyst behind its environmental goals.

 

Notable Decliners

  • Oracle (ORCL) -5.1%
  • Match Group (MTCH) -1.9%
  • Motorola Solutions (MSI) -1.3%
 

Earnings

  • Monday: Oracle
  • Tuesday: N/A
  • Wednesday: N/A
  • Thursday: Adobe
  • Friday: N/A

Crypto Bytes

Mashable

 

Arrest Warrant Issued for Do Kwon, Creator of Terra

 

The failed stablecoin Terra set off a domino effect and crashed the crypto market back in May, and Do Kwon (the creator of Terra) is now in serious trouble. A South Korean court issued an arrest warrant for Do Kwon and five other individuals on Wednesday. If you recall, Do Kwon's partner, Terraform Labs co-founder Daniel Shin, was raided by prosecutors back in July, but this latest warrant complicates the story. Do Kwon, and all others named in the warrant, are currently residing in Singapore. Although there isn't a bilateral extradition treaty between South Korea and Singapore, international authorities are attempting to nab Do Kwon.

 

Notable Gainers

  • Celsius (CEL) +30.15%
  • Compound (COMP) +5.19%
  • UNUS SED LEO (LEO) +3.84%
  • GateToken (GT) +2.29%
  • FEI USD (FEI) +1.14%

rareliquid

 
 

Disclosure: This newsletter is meant for informational purposes only and is not investment advice. Please consult with your investment, tax, or legal advisor before making any investment decisions.

 

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