Today’s topics

• Italy’s cheesiest bank

• Mysterious object zooming through space

• Innovative solution: fog nets

• Alaska Airlines’ JetZero investment

  and more…

US stocks closed higher on Wednesday, recovering after breaking their longest win streak of the year. The S&P 500 climbed about 0.4%, the Nasdaq surged nearly 0.6%, and the Dow Jones edged up around 0.1%. The boost came as investors reviewed minutes from the Federal Reserve's latest meeting, revealing that most officials support a September rate cut if inflation trends continue to cool.

Italy’s cheesiest bank: where parmesan wheels are worth their weight in gold. In the vaults of Credito Emiliano, 17,000 tons of Parmesan cheese are safely stored, valued at a whopping €132 million ($187.5 million). This unique banking practice allows cheese producers in northern Italy to use their prized Parmesan as collateral for loans, ensuring financial stability even during tough economic times. "It's our lifeline," says Giuseppe Montanari, a local cheese producer, who relies on these loans to keep his operations running smoothly. The bank’s strategy is a win-win, as they can always sell the cheese if needed, making it a safe and savory investment.

Warren Buffett's Berkshire Hathaway surpasses Fed with record short-term treasury holdings. Warren Buffett's Berkshire Hathaway has amassed $234.6 billion in short-term US Treasury Bills by the end of Q2 2024, an 81% increase since last year, surpassing even the Federal Reserve's holdings. This move, driven by the allure of over 5% annualized risk-free returns, signals Buffett's cautious stance in a market where he finds few attractive investment opportunities. The massive T-bill stake is on track to generate around $12 billion in risk-free interest annually.

Polaris Dawn: SpaceX's Historic Mission to the Van Allen Belts Kicks Off

SpaceX’s Polaris Dawn mission is gearing up for a groundbreaking launch, set to send four civilian astronauts into orbit for five days in a Crew Dragon capsule. This mission will pioneer the first-ever spacewalk by non-government astronauts and investigate the impacts of space radiation on human health. After delays, the crew—led by billionaire Jared Isaacman and including ex-Air Force pilot Scott Poteet, along with SpaceX engineers Sarah Gillis and Anna Menon—has arrived at NASA's Kennedy Space Center, with the launch scheduled for August 26. They will venture 870 miles above Earth into the Van Allen radiation belts, providing crucial data for future deep space travel.

NASA spots mysterious object zooming through space at a million miles per hour. NASA scientists have observed a mysterious space object, named CWISE J1249, hurtling through the galaxy at a staggering one million miles per hour—fast enough to reach the Moon in under 15 minutes. Estimated to be nearly 30,000 times the size of Earth, this enigmatic entity may be a "brown dwarf," a type of celestial object too large to be a planet but not quite a star. Despite its swift journey, it’s unprecedented for brown dwarfs to escape the Milky Way, making CWISE J1249 a unique and intriguing discovery.

Study Reveals Hidden Consciousness in 25% of Unresponsive Patients

A groundbreaking study from Mass General Brigham has uncovered that 25% of patients with severe brain injuries, previously thought to be unresponsive, can covertly follow instructions. By using functional MRI (fMRI) and electroencephalography (EEG), researchers found that these patients demonstrated signs of understanding and attention despite outward unresponsiveness. This phenomenon, known as cognitive motor dissociation, suggests that these individuals retain cognitive abilities far beyond their motor responses. This discovery could significantly impact decisions regarding life-sustaining treatments.

Man with 90% of his brain missing lives a normal life. In a curious case that has fascinated scientists since its 2007 reveal in The Lancet, a 44-year-old man discovered he was living with only 10% of his brain. Despite this, he led a normal life, working, caring for his family, and maintaining a slightly below-average IQ of 84. The condition, known as hydrocephalus, left his skull largely filled with fluid, but his brain tissue managed to keep him functioning normally. This story remains a remarkable testament to the brain's resilience.

Chile’s Desert Defiers: Communities Harvest Fog to Revive Their Land

In the heart of Chile's expanding Atacama Desert, a rural community has turned to an innovative solution: fog nets. Installed 17 years ago, these nets now capture around 500,000 liters (132,000 gallons) of water annually, enabling the revival of local vegetation and the creation of new businesses. With 252 square meters of fog collectors, the community nurtures at least 30 native plant species in the Cerro Grande Ecological Reserve, demonstrating resilience in the face of climate change and desertification.

Alaska Airlines Takes Flight Toward Greener Skies with JetZero Investment

Alaska Airlines is soaring into the future with a strategic investment in JetZero, a trailblazer in developing blended-wing body aircraft that promise to slash fuel burn by up to 50% and significantly reduce emissions. This move, part of Alaska's commitment to achieving net zero carbon emissions by 2040, reflects the airline's dedication to pioneering technologies that will reshape the aviation industry. Through its investment arm, Alaska Star Ventures, the airline is betting on innovative solutions that align with its broader sustainability strategy, including fleet renewal, sustainable aviation fuel, and electrified aircraft.

Missing scissors snip away at airport schedules. Japan’s New Chitose Airport saw an unexpected pause in operations when a pair of scissors went MIA, triggering an extensive security search. The rogue scissors, last seen in a departure lounge store, led to the cancellation of 36 flights and delays for 201 others on August 17, as officials feared a security risk. Thankfully, the runaway scissors were found, and flights were soon back on track, proving that safety—however snipped—is always a priority.

Top 10 priciest cars sold at Monterey Car Week: from a 1938 Alfa Romeo to a 1995 Ferrari. Monterey Car Week set records with total sales soaring to $371 million, driven by these top 10 high-ticket rides. Highlights include a rare 1938 Alfa Romeo and a pristine 1995 Ferrari, showcasing a blend of classic elegance and modern performance. These standout lots led the charge in an unforgettable week of luxury and speed.

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