Friday's Fast Five: Week of 12.16
Apple built its empire with China. Now its foundation is showing cracks (Business Standard): Lawmakers' objections to an obscure Chinese semiconductor company and tough Covid-19 restrictions are hurting Apple's ability to make new iPhones in China.
Who Wins a World Cup Final Between France and Argentina? Qatar (Wall Street Journal): Qatar has spent more money than any previous soccer World Cup host country on stadiums and other infrastructure. WSJ looks at the multibillion-dollar spending spree that the tiny state hopes will pay dividends in the long-run.
Fed raises interest rates half a point to highest level in 15 years (CNBC): The Federal Reserve continued its battle against inflation by raising its benchmark interest rate to the highest level in 15 years. Along with the increase came an indication that officials expect to keep rates higher through next year, with no reductions until 2024.
FTX’s implosion and SBF’s arrest, explained (Vox): Sam Bankman-Fried and his crypto company FTX experienced a shocking downfall. Now, Bankman-Fried has been arrested in the Bahamas.
Scientists confirm JWST has found the earliest galaxies yet seen (Axios): Scientists have confirmed the discoveries of a clutch of galaxies that formed less than 400 million years after the Big Bang occurred about 13.8 billion years ago. One of the JWST's main tasks is to gather data about the earliest galaxies that formed in the universe, shedding light on how the cosmos came to be.