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Georgia Dock Collapse Ends In Tragedy

Your unbiased daily news brief

Good Monday morning. Looking for a tangible example of inflation? Go buy a beer at an NFL game. Have a great day!

In Today’s Brief

  • U.S. Constitution: $9M copy

  • Israel: Attack leak

  • Musk: Voter payout controversy

  • Boeing: Tentative deal

  • WNBA: Liberty win title

... and more

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Top Tips

1) 'Catastrophic failure'

Seven people died after a dock collapse in Georgia.

  • What happened: A gangway gave way on Sapelo Island on Saturday. There were at least 40 people on the dock; about 20 fell into the water around 4 p.m. local time following the "catastrophic failure," which prompted a U.S. Coast Guard response, as well as local and state agencies.

  • The aftermath: Seven people were killed in the disaster. Six others were critically injured; three people were in critical condition as of yesterday. The incident occurred during the island's Cultural Day celebrating Gullah-Geechee culture; President Joe Biden said he was "heartbroken" and pledged federal resources.

  • Next steps: A probe is underway. Georgia Department of Natural Resources Commissioner Walter Rabon called the incident a structural failure but said an aluminum gangway should not require much maintenance. "We'll see what the investigation unfolds," he said.

2) Lights out

Millions of Cubans were already without electricity as a hurricane made landfall.

  • Power outage: The island nation's aging infrastructure failed again on Saturday, causing a second nationwide blackout. It was the fourth failure in roughly 48 hours. Most of the country's 10M people had no electricity as of yesterday. Water supplies and other utilities were also impacted.

  • The storm: Hurricane Oscar, a Category 1 storm, hit Cuba last night. Its maximum winds were clocked at 80 MPH. The storm was expected to weaken over the land, but could still drop significant rain as it moves north, including 6-12 inches in the eastern part of the country and the potential for up to 18 in some pockets, plus elevated tides and destructive waves.

  • Big picture: Concerns of a full-blown humanitarian crisis in Cuba are growing. The nation is already battling severe shortages of food, fuel and medicine. The continual electrical issues -- the nation was already rationing power -- and the storm could further exacerbate the situation.

3) Split decision

Moldova appeared to go opposite directions in a pair of controversial votes amid the specter of Moscow.

  • The news: A ballot question to enshrine European Union membership as a stated constitutional goal appeared to have been rejected night by a 55% to 45% margin. But pro-EU President Maia Sandu led the first round of her re-election voting by double-digits, although she will likely fall short of an absolute majority and enter a runoff next month.

  • Key context: Moldova, which borders Ukraine, has worked to distance itself from Russia following the Kremlin invasion of its neighbor. Russia also has troops in the separatist Moldovan breakaway region of Transnistria. The Kremlin has subsequently been accused of election interference, including plans to foment a coup against Sandu's government and pro-Russian oligarch and fugitive businessman Ilan Shor's offers to pay voters to reject the EU.

  • Big picture: Sandu alleged that "criminal groups" engaged in voter fraud and vowed "firm decisions" based on the EU referendum result. Moldova has already been given EU candidate status; Sandu has set a 2030 target for integration. If she is re-elected, the country is expected to continue its march toward Europe and away from the Kremlin.

Quick Tips

U.S. News

  • A rare copy of the U.S. Constitution sold for $9M at auction. The 1787 Constitutional Convention copy is one of eight known to exist still and the only one that is privately owned; it was discovered inside a North Carolina residence (More)

  • Two U.S. Navy aviators were declared dead after last week's training mishap in Washington state. Their jet crashed east of Mount Rainier in mountainous terrain; crews are still working to recover the service members (More)

  • A former U.S. Marine's high-profile New York City involuntary manslaughter trial begins today. Daniel Penny is accused of criminally negligent homicide for fatally choking a homeless man on a subway car; some witnesses allege the man threatened other passengers and Penny acted defensively (More)

World News

  • A pro-Iranian social media account leaked purported top-secret U.S. intelligence about Israeli attack plans against Tehran. The Pentagon did not dispute the authenticity and said it was investigating the matter; the leak is unlikely to have an operational impact, officials said (More)

  • Two opposition political officials in Mozambique were assassinated amid the African nation's contested presidential election. A Tanzanian opposition official was kidnapped, beaten and seriously injured before being dumped in a forest, the latest incident of political violence in that nation (More | More)

  • Floods in Bangladesh destroyed about 1.1M metric tons of rice. The South Asian country, already dealing with an economic crisis and reeling from civil violence earlier this year, has approved imports to combat potential food shortages and price hikes (More)

Campaign News

  • Pennsylvania Gov. Josh Shapiro said law enforcement should probe Tesla CEO Elon Musk's $1M giveaways to voters in the state. People must sign a Musk super PAC's petition to be eligible; Shapiro said the circumstances "raise some serious questions" regarding voting laws (More)

  • Almost 9M early presidential votes had been cast as of Friday, according to the University of Florida's Election Lab. Over two dozen states have begun early in-person or absentee drop-off voting; more will begin this week (More)

  • Vice President Kamala Harris has no plans to campaign with President Joe Biden before Election Day. Former President Donald Trump worked at a Pennsylvania McDonald's during a stop yesterday after criticizing Harris' claims she once worked at the fast-food restaurant; the restaurant was closed for his appearance (More | More)

Business & Markets

  • Major indexes closed higher on Friday. The Dow Jones and S&P 500 posted record closes to cap six straight winning weeks (Dow +0.09%, Nasdaq +0.63%, S&P 500 +0.40%).

  • Boeing reached a tentative deal to end a lengthy machinist strike. The factory workers' union will vote Wednesday on the new contract proposal; the aerospace giant has agreed to raise salaries 35% over four years, plus other concessions (More)

  • David Joyner is the new CEO of CVS Health. He replaces Karen Lynch, who was ousted amid financial struggles; Joyner is expected to operate the company as a single entity rather than spin off divisions (More)

Entertainment & Sports

  • The New York Liberty won their first WNBA title in franchise history with an 67-62 overtime win over the Minnesota Lynx in Game 5 of the league championship series. Liberty forward Jonquel Jones was named Finals MVP; Minnesota led the game with seconds left in regulation (More)

  • The New York Yankees and Los Angeles Dodgers will meet in the World Series for the 12th time, the most in Major League history. Game 1 is Friday night at Dodger Stadium; it is the first Fall Classic showdown between the franchises since 1981 (More)

  • New Zealand retained the America's Cup with a 7-2 series win over Great Britain in Barcelona. The Kiwis won the sailing race for the third straight time; the Auld Cup is considered the oldest trophy in international sports (More)

Quick Hitters

  • Fun Stuff: Many Guinness World Records are a bit dubious. But we must hand it to the Canadian guy who walked 38 dogs at once for over a half-mile.

  • Take Note: Don't get rid of your chair just yet. New research suggests standing desks do not reduce disease risks and may even lead to adverse health impacts for some people.

  • Go Deep: Israel shocked the world with its recent electronic device attacks against Hezbollah in Lebanon. Here is how the Israeli military and intelligence services pulled it off.

  • Old Idea: Benjamin Franklin invented the "electrostatic motor," a device that runs on the same power that makes socks stick together. Scientists now believe his concept could lead to revolutionary achievements many centuries later.

  • Life Hack: Getting ready to take a long-haul flight? Here is a rundown of everything you should pack to make the journey bearable.

Over seven miles deep!

Looking Ahead …

U.S. consumers are expected to spend more during the upcoming holiday season than they did last year, according to the National Retail Foundation. But the YoY increase is projected to be between 2.5% and 3.5%, falling short of the 3.9% spike in 2023.

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What is the highest voltage for a lightbulb?

Incandescent light bulbs go up to 300 volts.