Saturday☕️

19 Aug 2023 — 4 min read

Trending:

Markets:

Maui Wildfires:

In the aftermath of the wildfires that swept through Maui, 111 lives were lost, and over 1,000 individuals remain unaccounted for. Hawaii Electric is facing numerous lawsuits, with locals alleging that the company was ill-prepared for the known wildfire risk.
Criticism has also been directed at government officials for not activating the island's 80 emergency sirens during the crisis. As recovery efforts continue, there are growing concerns among residents about external investors potentially taking advantage of the situation to purchase land at reduced prices.
For perspective, the median house price on Maui was $990,000 in June, and notable individuals such as Oprah and Jeff Bezos have properties in the vicinity. The state's governor has expressed concerns about such opportunistic land acquisitions in this vulnerable period.

Lamborghini EV:

Lamborghini has revealed its first all-electric vehicle, the Lamborghini Lanzador EV. The Lanzador EV introduces a GT design with 2+2 seating and promises an unmatched on-board experience that aligns with Lamborghini's brand essence while also hinting at its future direction.
Lamborghini notes that the vehicle will have a high-power electric motor on each axle, boasting over one megawatt of peak power. It will incorporate design features from the Revuelto sports car and the Urus, including a hidden trunk under a short front hood and a spacious glass tailgate.
CEO Stephan Winkelmann commented, "With Lanzador, we're embracing the future while honoring our brand's legacy. Historically, our coupés with front engines were sporty and versatile 2+2-seaters." Lanzador EV is set to be produced in 2028. Lamborghini is on track to electrify its entire range by 2024's end, with a Huracan PHEV and Urus PHEV launching next year.

Central Bank Conference:

Federal Reserve Chairman Jerome Powell is scheduled to discuss the economic outlook on August 25th during the annual central bankers' conference in Jackson Hole, Wyoming, organized by the Kansas City Federal Reserve.
Powell's speech, slated for 10:05 AM EST, presents an opportunity for him to share his updated perspectives. Specifically, he will address whether there's a need for further policy adjustments to combat inflation in light of the unexpected economic growth, or if the progress towards disinflation is satisfactory enough to maintain the current interest rates.

Statistic:

Top 30 companies by market cap: