News From the Control Tower - 5/18/2022
News from the Control Tower: Our weekly curated list of news stories affecting you and your finances.
This week’s reads include:
1. Chicago wheat surges to two-month high as India bans exports
"India is not a big wheat exporter, but the fact that a big country scrambles to secure food supply left the market anxious," Danske Bank analysts
The ban comes as the U.S. Department of Agriculture has forecast tighter global supplies due to the war in Ukraine and supply losses elsewhere.
2. How to Fight Foreign Hackers With Civil Litigation
Major tech companies have begun to employ Microsoft’s strategy of suing cybercriminals who operate major botnets or engage in massive phishing schemes.
3. The Iron Grip of the CFA Franc
The colonial-era currency limits the economic freedom of the African countries that use it and subjects them to continued French authority.
4. All of Those Quitters? They’re at Work.
The Great Resignation was in fact a moment many people traded up for a better-paying gig.
5. Portillo's CEO is testing Wall Street's patience
The fast-growing chain lags rivals in raising prices amid raging inflation, sparking concern that soaring costs will mash margins.
Bonus: All-Black group makes history by summiting Mount Everest
About 4,000 people have summited Mount Everest, the world's highest peak. And only eight of them have been Black.