š To buy or not to buy
Good morning, Quartz readers!
Hereās what you need to know
The American housing market is paralyzed. Prices are beginning to fall, but prospective homebuyers have to contend with the US Federal Reserveās aggressive rate hikes, which have driven mortgage rates to their highest level since 2008.
Central banks around the world raised interest rates. Following the Fed ās most recent hike, countries including the UK, Norway, Indonesia, and South Africa also bumped rates. Bucking the trend, Turkey cut rates and Japan kept them super low.
The US lost $45.6 billion to covid unemployment fraud. A federal watchdog identified criminals filing for unemployment benefits in several states or using the Social Security numbers of dead or imprisoned people.
The UK is investigating Amazon, Microsoft, and Googleās dominance in cloud services. Regulators are seeking to test the strength of competition in the billion-dollar industry.
Airbus won a $4.8 billion jet deal... The European firm will supply 40 jets to China Southern-owned Xiamen Airlines, beating out Boeing, which has historically been its supplier.
...while Boeing agreed to pay a $200 million settlement. The SEC had accused Boeing of making misleading statements about its 737 MAX model in the wake of two crashes of these jets.
Bermuda and Canada are bracing for Hurricane Fiona. The category 4 storm could trigger floods, power blackouts, and storm surges. Puerto Rico, hit by Fiona days earlier, is dealing with economic damage worth at least $2 billion.
What to watch for
A much-anticipated speech from US president Joe Biden, an appearance from Bono, and potentially the worldās largest conference panel may be over at the 77th session of the United Nations General Assembly, but thereās lots still to come before it closes on Tuesday (Sept. 27).
Upcoming events include a talk from Nigerian president Muhammadu Buhari today on measuring poverty, and the Global Citizen Festival in Central Park on Saturday (nothing says world development conference like Mariah Carey and Metallica).
Need to catch up on whatās happened so far? Itās never too late to sign up for our Need to Know: UNGA 2022 newsletter. Weāve also put together a reading list of Quartz coverage from the event:
š³ From UNGAās sidelines, a reminder about Europeās Green Deal
š āAfrica has suffered enough,ā says Senegalās president in UNGA speech
š° We already know what would solve most global development challenges
š The most confusing UNGA 2022 event titlesātranslated from UN-speak into English
Book bans are spiking in the US
As Banned Books Week (Sept. 18-24) draws to a close in the US, the pile of forbidden texts is only stacking up. According to the American Library Association (ALA), the number of banned books in US schools and libraries has more than doubled from last year.
Texas and Florida top the list of states with the most banned titles, with right-wing political groups like Moms for Liberty and No Left Turn in Education spearheading efforts. The top targeted books in 2021 include newer additions like Gender Queer by Maia Kobabe, and long-timers like The Bluest Eye by Toni Morrison. Most stricken books are penned by LGBTQ and Black authors, and touch upon topics such as racism and sex.
For those looking to get around state bans: university libraries, interlibrary loans, and digital libraries are three ways students can gain access to censored narratives.
Words that arenāt words
Across the globe, there are grunts, sighs, and other untranslatable remarks that arenāt really words, but still carry a lot of meaning.
ā¦ āBofā is just one of the phrases we looked at in our audio project on ānon-wordsā thatāll help you communicate in countries around the world. Itās one of our favorite stories weāre sharing from the past decadeāyes, Quartz turned 10 years old this week! š Celebrate with 50% off a Quartz membership.
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š Europe is replacing energy dependence on Russia with solar reliance on Chinaā¦
š¬ ā¦and Congress is asking US banks: What if China is the next Russia?
š¢ Metaās quiet firing is making a lot of noise
šŖ King Charlesā real estate empire is a powerful climate tool
Surprising discoveries
Blimp cruises may soon take to the skies. But unless you can cough up $200,000, youāre stuck on the ground, buddy.
Italyās leading right-wing politician is a Lord of the Rings devotee. Giorgia Meloni may well one day rule over Italy as prime minister (though not Middle Earth). Ā
Americans canāt get enough of Mexican beer. Eight out of 10 imported beers in the US come from its southern neighbor.
A camel encyclopedia could be in the works. An attendee at āThe Role of Camels in Unifying the Kingdomā symposium in Saudi Arabia suggested it be written up.
One of Saturnās moons has all six ingredients for life. Pack your bagsāEnceladus was previously thought to lack phosphorus, until now!
Our best wishes for a productive day. Send any news, comments, Mexican lagers, and camel facts to [email protected]. Reader support makes Quartz available to allābecome a member. Todayās Daily Brief was brought to you by Clarisa Diaz, Julia Malleck, Morgan Haefner, and Samanth Subramanian.
The correct answer to the pop quiz is B., I donāt really care.