WORD ON THE STREET 

• Hours Left – The submersible that disappeared while taking explorers to the Titanic wreckage is almost out of oxygen. The Coast Guard is still refusing to give up hope. “This is a search and rescue mission, 100%,” said Captain Jamie Frederick.

• Amazon Under The Gun – Amazon Prime has been a bedrock of the company’s strategy, but now the FTC is charging that the company enrolled customers without their consent and made it difficult to leave. “Amazon tricked and trapped people into recurring subscriptions without their consent, not only frustrating users but also costing them significant money,” said FTC Chair Lina Khan.

• Intel Falls As Company Lays Out Ambitious Plan – Intel was down about 6% as investors got cold feet about its plan to compete with chip foundries like Taiwan Semiconductor Manufacturing Company. The “five nodes in four years” plan calls for INTC to use its own chips in manufacturing before opening up factories to other companies.

• Jerome Powell Tanks Market Again – Federal Reserve Chair Jerome Powell testified before Congress and warned more interest rate hikes could be on the way. “Nearly all FOMC (Federal Open Market Committee) participants expect that it will be appropriate to raise interest rates somewhat further by the end of the year,” he saidg.

HOT SPOTS: What’s Going on in Geopolitics

• Biden Picks A Fight With China – Immediately following a major visit by Secretary of State Antony Blinken to China, President Joe Biden called Chinese president Xi Jinping a “dictator.” He also said China had “real economic difficulties.” Chinese Foreign Ministry spokesperson Mao Ning called President Biden’s comments “extremely absurd and irresponsible.”

• BBQ Restaurant Explosion In China Kills 31 – Liquified petroleum gas was blamed for a catastrophic explosion in Yinchuan in China. The explosion in the BBQ restaurant took place around 8:40 PM local time on the eve of a local holiday.

• Ukraine Counteroffensive “Slower Than Desired” – President Volodymyr Zelenskyy admitted his country’s counteroffensive against Russia is moving “slower than desired.” However, he said that people need to have patience. “Some people believe this is a Hollywood movie and expect results now,” he said. “It’s not.”

CUTTING EDGE: What‘s Happening In Tech

• Elon Musk V. Mark Zuckerberg In Cage Match? – Mark Zuckerberg, who has been training in ju-jitsu recently, has accepted Elon Musk’s challenge for a cage match. It’s unclear if Musk was serious. However, Zuckerberg is completely serious, issuing a direct challenge to pick a location.

• Artificial Meat Approved For USA – Federal regulators approved Upside Foods and Good Meat, both of which use “cultured meat” grown from animal cells rather than slaughtered animals. Both companies will be able to serve their food in restaurants.

• Meta Beefs Up VR Performance – A new software update offers a significant upgrade for the Quest 2 and Quest Pro. It will boost GPU speed by 19% and 11% respectively.

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