February 6 2024
The American consumer
FLASH Toby Keith dead at 62
1 American consumers will remain strong in 2024: survey
2 OPINION Get Rid of Phones In School
3 Elon Musk revives debate over Delaware incorporation
4 Russia expands footprint in Africa
5 NJ to host 2026 World Cup Final
02/06/1971 Alan Shepard hits golf ball on moon
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1 American consumers will remain strong in 2024: survey
American shoppers won’t be deterred by mounting credit-card bills or the recent ripple of layoffs, according to the latest Bloomberg Markets Live Pulse survey. More than half of 463 respondents said spending will stay strong or get even stronger in 2024, with consumers set to keep shelling out for airline tickets, restaurant meals and concerts. The year’s first jobs report, which showed hiring and wages on the rise, offered a boost to that view.
Bloomberg
2 OPINION Get Rid of Phones In School
In response to the inordinate amount of time young Americans spend online, a bipartisan group of lawmakers is pushing to curb students’ access to social media sites while at school. The goal of keeping students off TikTok during the school day is undoubtedly worthwhile, but policymakers would be better off taking a simpler and more effective approach: banning mobile phones from schools altogether. It’s by now indisputable that allowing kids to have phones in the classroom harms academic performance — even among those who don’t actually use them. Excessive smartphone and social media use have also been linked to rising rates of teenage depression, emotional distress and self-harm. Three-quarters of US public schools claim to prohibit “nonacademic” use of mobile phones during class, but enforcement remains weak. A recent survey found that 97% of US adolescents used their phones at school, with most of it spent on social media, YouTube and gaming platforms.
Bloomberg
3 Elon Musk revives debate over Delaware incorporation
Elon Musk…last week expressed his fury at the Delaware court that nullified his $56bn pay package from Tesla.
Musk is now reviving the debate about Delaware and the power its courts wield over corporate America. He has pledged to let shareholders vote on whether Tesla should shift its incorporation to Texas, which has touted its courts as a corporate sanctuary. Musk’s international following has brought unprecedented attention to the once-niche topic of incorporation. Most Delaware watchers are, however, unworried. Of the 470 public companies in the Fortune 500, 328 make their corporate home in the small, mid-Atlantic state best known for President Joe Biden and chemicals group DuPont, drawn in part to its stable and well-understood corporate law regime.
FT
4 Russia expands footprint in Africa
Just months after Wagner mercenary group boss Yevgeny Prigozhin died in a mysterious mid-air explosion (?), Russia is pursuing an even bigger military footprint in Africa to challenge the US and its allies. Emboldened by a French retreat from the region, Russia’s new Africa Corps aims to put together a force numbering up to 20,000 at a string of bases to replace Wagner forces over the next half year.
Bloomberg
https://www.bloomberg.com/news/newsletters/2024-01-30/russia-raises-the-stakes-in-tussle-over-africa
5 NJ to host 2026 World Cup Final
fifa, football’s governing body, announced on Sunday the 2026 World Cup final will take place in New Jersey’s MetLife stadium. In keeping fifa’s policy on corporate names, the home of the New York Giants and Jets (helmet-wearing football teams) will be known as New York New Jersey stadium. The final will cap the end of the tournament jointly hosted by America, Mexico and Canada.
Economist
https://www.economist.com/in-brief/2024/02/05/border-security-deal-reached-willis-wants-misconduct-hearing-dropped
02/06/1971 American astronaut Alan Shepard hits golf ball on moon
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