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News From the Control Tower - 9/7/2022 Thumbnail

News From the Control Tower - 9/7/2022

News from the Control Tower: Our weekly curated list of news stories affecting you and your finances.

This week’s reads include:

1.       How Fake GPS Coordinates Are Leading to Lawlessness on the High Seas

A technology enabling the transmission of fake locations to carry out murky or even illegal business operations could have profound implications for the enforcement of international law.

2.       SpaceX, T-Mobile race to put an end to cell phone dead zones with help from outer space

Satellite communications is clearly the next big step for modern wireless networks and devices, and with these latest developments from T-Mobile, SpaceX and others, it’s clear that the technology will be going mainstream very soon.

3.       Facing Pandemic Learning Crisis, Districts Spend Relief Funds at a Snail’s Pace

Of the nation’s largest school districts, those closed the longest have spent an average of just 15% of their share of $122B.

Projects have been bogged down in supply chain delays and staff vacancies have been difficult to fill. Changes in leadership have also taken a toll: Among the 25 largest districts, 16 have lost at least one superintendent during the pandemic.

4.       Critical August jobs report expected to run hot and that could lead to a more aggressive Fed

“August tends to be the lowest response rate for the payroll survey of any month of the year, which makes it subject to some of the largest revisions,” [Diane Swonk, chief economist at KPMG] said. “This number is likely to get revised a lot. It’s a number you have to take with a little bit of a grain of salt.”

5.       Why there's no 'Dijon' in Dijon mustard

France is facing a widespread dearth of Dijon mustard, which news outlets wasted no time in attributing to the war in Ukraine. But the story is a whole lot spicier than that.

Bonus: England’s Wildest Event Is Bingo Night

Bongo’s Bingo nights mix dance-offs, cheesy giveaways and ’90s nostalgia with the actual game; ‘absolutely the best bit’