Friday☕️

25 Aug 2023 — 4 min read

Trending:

Markets:

Donald Trump:

Former President Donald Trump surrendered at the Fulton County jail on Thursday, facing 13 felony charges over allegations of trying to overturn Georgia's presidential election results. This is the fourth instance this year Trump has turned himself in due to criminal charges. For the first time, a mug shot of Trump was taken.
Trump subsequently used this mug shot on his X account and Truth Social, labeled "election interference" and "never surrender." The booking was swift, approximately 30 minutes, after agreeing to a $200,000 bond earlier.
Trump, after the booking, claimed he and his co-defendants did nothing wrong. Before the surrender, Trump made changes to his legal team, with Steven Sadow now leading. Trump did not enter a plea in court on Thursday, and his arraignment date remains undecided.
Trump has engaged Foster Bail Bonds LLC in Lawrenceville, Georgia, to handle his $200,000 bail, of which he has paid 10%. The charges arise from a 41-count indictment accusing Trump and others of a scheme to overturn Georgia's 2020 election results. He has pleaded not guilty in these cases, denouncing them as politically motivated.

Subway Acquisition:

Subway, the world's largest fast food chain by locations, with a 60-year family legacy, has been sold to Roark Capital for a potential value of $9.55 billion, depending on future financial performance milestones. This acquisition is significant for Subway, aiming to leverage Roark's expertise in franchising and marketing for expansion.
Roark Capital, which also owns chains like Dunkin' Donuts and Arby's, intends to add 23,000 stores to Subway's current 33,679. The deal's exact worth can go down to $8.95 billion without the earn-out, a structure used to address valuation differences. While Subway's owning families sought over $10 billion, citing the brand's strength, the buyers valued it lower due to market saturation in the U.S.

Brain Reading Chips:

Innovations in brain-reading technologies have taken a leap forward, as reported in two studies in the journal Nature. Researchers at Stanford used electrodes to interpret the thoughts of a woman silenced by Lou Gehrig's disease, achieving a 76% accuracy and a rate of 62 words per minute.
In comparison, the average human speech is approximately 160 words/min. In a parallel study by the University of California, a system was developed for a woman who had a stroke, resulting in a 75% accuracy and a speed of 78 words per minute. These strides highlight the transformative potential of such technologies for individuals with speech impairments.

Statistic: