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🤳18th August 2023 | Bitcoin Dips 9%, Wildfires Force Complete Evacuation of Yellowknife, Global Smartphone Market at 10-Year Low in 2023, and more!

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Source- CNBC

📉 Bitcoin Dips 9%, Falling to Just Above $26,000 on Thursday

Bitcoin plunges around 9% to $26,000 after news of SpaceX's $373 million bitcoin write-down in 2021 and 2022. Analyst Ryan Rasmussen describes the sell-off as "one of the most brutal minute-by-minute" and speculates on Elon Musk's involvement. Earlier, Tesla, led by Musk, sold 75% of its Bitcoin holdings. Bitcoin's value had already been pressured after Federal Reserve's July policy meeting.

🚀 Mortgage Rates Skyrocket to 21-Year High

US mortgage rates hit a 21-year high, with the 30-year fixed-rate mortgage at 7.09%. The surge, linked to the Federal Reserve's rate hikes and lingering inflation concerns, reduces home affordability, causing a 20% drop in sales. Existing homeowners resist selling due to locked-in lower rates, coupled with low inventory. Potential buyers face challenges as borrowing costs stay elevated.

Residents evacuate Yellowknife, Canada, on Highway 3 as a wildfire approaches the city. Source- Reuters

🔥 Wildfires Force Complete Evacuation of Yellowknife, Canada

Approximately 20,000 evacuated from Canada's Yellowknife as wildfires encroach, threatening the city and neighboring areas. Over 230 fires threaten towns, including First Nations communities. Without rain, the inferno might spread by the weekend. Airtankers combat the blaze, while evacuation flights are arranged. Municipal Affairs Minister has declared a state of emergency, citing a crisis.

✈️ US Greenlights F-16s for Ukraine from Denmark, Netherlands

The U.S. has greenlit F-16 fighter jets' transfer to Ukraine from Denmark and the Netherlands to counter Russia's threat post-pilot training. Danish and Dutch leaders are on board, as is Secretary of State Blinken, emphasizing Ukraine's need to defend itself. Though critics question the immediate impact due to Russian defenses, this support underlines commitment to Ukraine's security amid ongoing conflict. The F-16s by Lockheed Martin aim to enhance Ukraine's capabilities.

📅 Microsoft Announces Special Event in NYC on September 21st

Microsoft's NYC event on September 21 promises exciting hardware reveals, potentially including Surface Go 4, Surface Laptop Studio 2, and Surface Laptop Go 3. Following a shift to the Surface brand, the event might introduce new accessories. Anticipate insights on Windows 11's imminent update with RAR/7-Zip support and Windows Copilot access. "Mark your calendars" for a tech-packed event.

📉 Global Smartphone Market at 10-Year Low in 2023, Apple May Lead: Research

Smartphone shipments in 2023 are expected to slump by 6%, a decade-low due to US and China challenges. Apple might seize the global annual shipment lead for the first time, with the upcoming iPhone 15 launch bolstering its position. Premium devices remain resilient amid the decline. Apple's growth in new markets, like India, will influence its chances of overtaking Samsung in shipments.

Director Saeed Roustayi at Cannes' 75th International Film Festival for "Leila's Brothers" photo call. Source- AP

🎥 Iranian Filmmaker Jailed for Cannes Film Screening

"Leila’s Brothers," a Cannes film by Saeed Roustayi and Javad Norouzbeigi, portrays an Iranian family amidst economic struggles and protests. The creators were sentenced to six months in prison for "propaganda against the system," sparking global outrage. Martin Scorsese and others condemned the verdict, advocating for their cause. The film didn't win the Palme d'Or but gained international recognition. Iranian filmmakers often face government pressure, as highlighted by this case.

⚾️ Wander Franco's MLB Return Unlikely Amid Investigation: Report

Tampa Bay Rays' star shortstop Wander Franco is being investigated in the Dominican Republic for an alleged relationship with a minor. MLB launched its inquiry following social media speculation. Insider Héctor Gómez notes Franco's MLB return is "very unlikely" due to ongoing investigations. Franco, 22, had a stellar season with 17 home runs, 30 stolen bases, and an 11-year, $182 million contract.

Trump's arraignment draws protesters and supporters outside the Washington courthouse. Source- NY Times

🕒 Trump's Lawyers Push for April 2026 Start for Jan. 6 Trial

Donald J. Trump's lawyers seek to postpone his trial on charges of election interference until April 2026, opposing the proposed January 2024 date. They stress the case's historic nature and extensive discovery materials, up to 8.5 terabytes or 11.5 million pages. The filing creatively illustrates the volume's scale, comparing it to a tower taller than the Washington Monument.

😮 Poll: Majority of Americans Disapprove of Biden's Economic Management

President Biden's economic handling disappoints as only 36% approve, contrasting his 42% overall approval, per an AP-NORC poll. Despite promoting "Bidenomics," his numbers remain unchanged for two months. 55% of Democrats discourage his re-election, yet 82% would vote if nominated. Earlier, Monmouth University found 62% disapproving of his inflation management.

🚗 Lyft, Uber Threaten Minneapolis Exit Over Driver Minimum Wage

Uber and Lyft may cease Minneapolis operations following a new ordinance establishing a minimum wage for drivers. The Minneapolis City Council's 7-5 vote mandates $1.40 per mile and $0.51 per minute pay. Lyft cautioned of potential price doubling, affecting accessibility, while Uber cited safety and cost concerns. Mayor Jacob Frey's veto decision deadline is August 23

Source- Britannica

On 18 August 1920, the Nineteenth Amendment was ratified after Tennessee became the 36th state to approve it by just one vote, securing women's right to vote in the United States after a 72-year struggle. This pivotal moment marked a significant victory for women's suffrage, helping to pave the way for greater gender equality in the United States.

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