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September 24: Apple Iphone is killing you, Inflation creeps up, Fed stays the same (Recap ep245)

In this week’s recap, Marcello talks about how the electromagnetic wave emissions coming from the iPhone 12 have been tagged as risky, and therefore they have been pulled out of the market in Europe. Inflation is still on its way up, and the federal reserve of the US is keeping its interest rates at the same level.

The possible U.S. government shutdown that some Republicans are insisting might be necessary, could slow 1 of their other priorities which is the recently launched impeachment inquiry of Democratic President Joe Biden. Republican House of Representatives Speaker Kevin McCarthy launched the inquiry on Sept. 12, an escalation after months of probes into Biden’s son, Hunter Biden, with the first hearing set for Sept. 28, two days before the shutdown deadline. The inquiry is focused on Biden’s son Hunter’s foreign business dealings. House Republicans alleged that the elder Biden benefited from his son’s work.

Oil surged to a 10-month high on Tuesday after rising on Monday, extending a powerful rally that is rekindling inflation, as supply cuts from OPEC+ further tightens the market & Saudi Arabia’s energy minister demurs away from any change in course. Global benchmark Brent topped $95 a barrel, for the 1st time since November. The tighter market is bringing predictions that $100.00 a barrel for crude, could soon return.
Germany is likely to generate +50% of its power from renewable energy this year, but needs to ramp up the speed of its transition towards the end of the decade, Economy Minister Habeck said Monday. With demand for electricity on the rise, renewables will have to account for 80% of power generation by 2030. The economy minister, whose portfolio includes energy & climate action, spoke of a boom in the solar power industry, with this year’s target of achieving 9-gigawatt capacity expected to be reached. The expansion of onshore wind energy is also progressing w/2022’s full-yr volumes already reached by the end of July 2023.

Turkish President Erdogan asked Tesla CEO Elon Musk to build a Tesla factory in Turkey, the country’s communications directorate said on Monday. It cited Musk as saying that many Turkish suppliers are already working with Tesla & that Turkey was among the most important candidates for its next factory.Tesla did not immediately respond to requests for comment. Tesla shares are up nearly 123% so far this year, with a market cap of $870.91B & the automaker on Saturday said it had produced its 5 millionth car.

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