Daily dozen | Forbes: WhatsApp’s Cyber ​​Spies; Democrats win $430 billion; SEC’s Crypto Spotlight

Airlines may soon be required to reimburse travelers for delays. The $430 billion inflation reduction bill passed the Senate. How telecommuting has contributed to a two-speed housing market across the country.

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In the news today

• Senate Democrats passed the landmark $430 billion Inflation Reduction Acta climate, tax and health bill that would earmark approximately $370 billion for energy and climate programs and extend the Affordable Care Act’s health insurance subsidies through 2025.
• The White House declared monkeypox as one public health crisis and vowed to take the federal response to the virus “to the next level” through measures such as increasing vaccine distribution. There has been increased criticism of the government’s handling of the outbreak, which is rapidly worsening across the country.

Top take-aways

Forbes broke the news that Facebook discovered cyber spies likely based in India and Pakistan used malware masquerading as popular encrypted messaging apps like WhatsApp, Signal and Telegram to access call logs, text messages and cameras and microphones belonging to thousands of people.

Each of them more than 40 US Cryptocurrency Exchanges (plus Binance, the world’s largest crypto exchange) is reportedly being investigated by the US Securities and Exchange Commission, according to a staffer for US Senator Cynthia Lummis (R-Wy).

Sky-high housing prices returns to earth – depending on where you live. According to the latest forecast, 210 of the country’s largest 414 housing markets will see falling house prices over the next two years, while prices are set to rise in the remaining 204.

Since December, billionaire Melinda French Gates has sold approx $1.44 billion of $6.3 billion plus value of shares she received from ex-husband Bill Gates during their divorce settlement. The unloaded stocks include $429 million of auto dealer AutoNation stock and over $1 billion in Canadian National Railway stock.

Forecasters are monitoring a tropical wave forming off the coast of Africa as meteorologists predict one hurricane outbreak which will make 2022 one of the most active seasons in history. The odds of a potentially devastating major hurricane hitting the US are 68%, significantly higher than the 52% annual average over the past century.

A new proposal appears to mandate it airlines refund passengers for three-hour delays on domestic flights and six-hour delays on international journeys. The proposal also encourages carriers to provide flight credits or vouchers without expiry dates if people cannot fly due to Covid-related reasons.

Today’s must-read

How Tesla lost the affordable electric car race to an unexpected rival

16 years ago, Tesla CEO Elon Musk announced his goal to build the first truly affordable electric family car. Now General Motors has beaten him to it.

In case you missed it

Dressing up for “Sunday Funday” and restaurant hopping for chicken and waffles, endless mimosas and DJs playing hip-hop are some hallmarks of the growing trend of “Black brunch.”

Tips you can trust

• About 16% of the employees are actively disengaged at work, according to a new survey, the highest level in a decade. These are the factors that drive your colleagues to mentally check out and “ghost quit” without formally leaving their posts.
• Retention bonuses, greater work-from-home flexibility and employment benefits are all well and good, but if a company really wants to retain star employees it must stop frustrating and demotivating them. Here’s how to do it in the age of burnout.

Must see video

Are we really in a recession?

Several economic indicators point to us being in a recession. But before the National Bureau of Economic Research can make the final call, it must consider three criteria: duration, depth, and diffusion.

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