Movie tickets will be $3 on Saturday — a fraction of their regular price — for the first-ever National Cinema Day at the majority of movie theaters nationwide, including Regal Cinemas and AMC.
Why it matters: Labor Day weekend has long been considered one of the slowest weekends for theaters and this summer has been slow even though movie theater attendance has rebounded since theaters reopened following COVID closures.
Federal Reserve Vice-chair Lael Brainard gave a timeline for the launch of FedNow, the platform it has been working on to enable nearly instant payment settlement within the U.S.
Driving the news: FedNow should launch in 2023 between May and July. This is the most specific the Fed has been yet about when the service will go live.
Lawyers for Elon Musk have filed a subpoena for Peiter Zatko, Twitter's former security chief who recently came forward as a whistleblower alleging his former employer deceived regulators, per a new court filing.
Why it matters: Musk's legal team is trying to leverage the wrongdoings alleged by Zatko, who goes by the pseudonym "Mudge," in its defense of Musk's attempt to walk away from his $44 billion takeover bid.
As many of the world's most powerful economic policymakers took to the lectern at an annual economic symposium in Jackson Hole, Wyoming, in the last few days, a recurring — and disturbing — theme emerged from the proceedings.
Many of these leaders believe that the extraordinary economic volatility of the last few years — with whipsawing growth, supply disruptions and inflation — are likely to persist for many years to come.
Fed chair Jay Powell on Friday warned of coming economic pain, causing dealmakers to wince.
The big picture: Conventional wisdom is that sellers retreat in rising rate environments, as valuations contract. Particularly after such a long bull market in which growth trumped fundamentals.
Starbucks switches seasons Tuesday with the launch of its fall menu, which includes the Pumpkin Spice Latte and a revamped Apple Crisp Macchiato.
The big picture: Even with weeks of summer left and sweaty temps not sweater weather, the arrival of pumpkin spice signals the unofficial start of fall for the flavor's biggest fans.
Amid a full-on energy crisis, Europe is taking more steps to cut consumption.
What it means: The impact of Russia's war in Ukraine — and the combination of sanctions and embargoes drastically curbing Russian gas supplies — is beginning to have real effects on the West's standard (and cost) of living.
Despite what critics may say, student loan debtors who stand to benefit most from the relief plan announced last week aren't exactly latte-sipping elites.
Reality check: First, nearly 90% of those benefiting from the policy earn less than $75,000, according to the White House. Second, a significant percentage of student loan debtors didn't get a four-year degree. That means they also don't get the income boost of a bachelor's degree.
