Good morning. It's Wednesday, Dec. 3, and we're covering an investigation into a deadly apartment fire, a large financial donation to American children, and much more. First time reading? Join over 4.5 million insatiably curious readers. Sign up here.
Don’t keep us a secret: Share the email with friends (copy URL here).
And, as always, send us feedback at [email protected]. |
|
|
|
|
Hong Kong is establishing an independent committee to investigate last week's apartment complex fire that killed 156 people and to initiate reforms in the construction industry.
Over a dozen people affiliated with the complex's renovation have been arrested on suspicion of manslaughter after netting around a high-rise building caught fire last Wednesday. The blaze spread to six other buildings (see visualization). A preliminary probe found seven of 20 netting samples didn't meet safety codes, prompting authorities to accuse contractors of misleading inspectors to cut costs. The labor department had conducted 16 project inspections since July 2024—including one a week before the fire—and told residents who raised safety concerns that a fire was relatively unlikely.
Authorities declined to comment on reports that civilians were arrested over the weekend after demanding government accountability for the fire. In reaction to 2019 pro-democracy demonstrations, Beijing has passed down national security laws that can effectively criminalize free speech and protests in Hong Kong. |
Michael and Susan Dell announced yesterday they will donate $6.3B to 25 million American children—among the largest-ever private donations to Americans.
The donation is designed to fill some gaps from “Trump Accounts,” 530A accounts established by Congress earlier this year (see explainer). Those accounts, similar to 529 plans, will be seeded with $1K each for all US children born between 2025 and 2028. The money will be invested in tax-deferred index funds; families who max out their $5K-per-year contributions could expect their child to accumulate $191K before tax by age 18. The Dell donation will similarly provide seed funding ($250 per child) for nearly 80% of US children aged 10 and younger—kids born before 2025 whose families live in ZIP codes with a median income of $150K or less.
The Dells are one of the wealthiest families in the US. Michael Dell, who founded Dell Technologies in 1984, has a reported fortune of nearly $150B (see more, w/video). |
A powerful winter storm swept from the Midwest to the Northeast this week, unleashing heavy snow, blizzard conditions, and dangerous winds across a broad strip of the US.
Kicking off meteorological winter, up to 70 million people were affected from the Central Plains to northern Maine, where the Northeast saw its first widespread snow and ice of the season. Interior areas picked up some of the highest totals, with parts of northern New England reporting up to 12 inches as strong winds and pockets of ice made travel dangerous. The storm followed a weekend system that dumped more than 8 inches at Chicago’s O’Hare airport, breaking a November snowfall record set in 1951.
Post-storm, Arctic air will deepen the cold through the weekend, with subzero temperatures in the northern Plains and Upper Midwest. |
|
|
|
In partnership with West Capital Lending |
|
Don’t Refinance—Just Tap In |
|
Your home’s equity could be your most powerful financial tool. With West Capital Lending, you can access it fast through a HELOC—no refinancing required. Their team of lending pros has been helping homeowners and investors unlock cash for renovations, debt consolidation, or new opportunities since 2016.
Homeowners can enjoy one-day closes with no drawn-out processes, while investors can explore flexible DSCR loans that don’t require income documentation. Whether you’re tapping into your property’s potential or scaling your portfolio, they make lending simple, smart, and fast.
West Capital Lending brings clarity, speed, and expertise to every deal—and right now is your last chance to access cash before the holidays. Enjoy 5-minute approvals, 5-day fundings, and options with no appraisal required. Get started today and put your equity to work with confidence. |
|
Please support our sponsors! |
|
|
|
|
Sports, Entertainment, & Culture |
> Apple Music unveils year-end charts; Bruno Mars and Rosé’s “APT.” takes the No. 1 spot across several categories, and Morgan Wallen leads all artists for most entries with 12 top-100 songs (More) |
> Cannes-winning director Jafar Panahi sentenced in Iran to one year in prison and a two-year travel ban on propaganda charges while he's in New York City accepting Gotham Awards for “It Was Just an Accident," a film he illegally shot in Iran (More) |
> International sports court rules Russian skiers and snowboarders can apply as neutral athletes for qualification events to the Milan-Cortina Winter Olympics, overturning ban imposed in February 2022 over Russia's invasion of Ukraine (More) |
|
|
|
|
|
> Samsung debuts its first trifold smartphone with 10-inch display, available in South Korea this month and in the US next year; Chinese company Huawei released trifold phones last year, and Apple is expected to debut a foldable iPhone next year (More) |
> Researchers find shingles vaccine may slow progression of dementia, building on an earlier study that linked the vaccine to a lower risk of developing dementia (More) |
> Terminally ill baby ants emit a chemical signal that prompts adult ants to kill them, helping protect the rest of the colony from infection (More) |
|
|
|
|
|
> US stock markets close up (S&P 500 +0.3%, Dow +0.4%, Nasdaq +0.6%); bitcoin bounces back above $90K (More) | Madison Avenue, bubbles, post-work happy hours: Explore these topics and more in tomorrow's business and finance newsletter (Sign up) |
> Prada Group finalizes purchase of Milan fashion rival Versace in nearly $1.4B cash deal (More) | Paramount, Netflix, and Comcast submit second-round bids for Warner Bros. Discovery, with Netflix submitting mostly all-cash offer (More) |
> Nearly 203 million US consumers shopped from Thanksgiving Day through Cyber Monday, marking largest five-day turnout since 2017 when tracking began (More) | Online US shoppers spent record of roughly $44B across five-day period (More) |
|
|
|
In partnership with FinanceBuzz |
|
Why You Should Cancel Your Car Insurance |
|
|
|
|
> Defense Secretary Pete Hegseth defends follow-up strike on alleged drug boat in September, saying he didn't see survivors in what he called "the fog of war" (More) |
> Former Honduras President Juan Orlando Hernandez is released from West Virginia prison after being pardoned by President Donald Trump over drug-trafficking charges (More) | Centrist candidate Salvador Nasralla takes slight lead in Honduras presidential election, as votes are counted by hand (More) |
> Tennessee voters select Republican Army veteran Matt Van Epps to replace outgoing Rep. Mark Green (R, TN-7) in special election (More) |
|
|
|
In partnership with West Capital Lending |
|
Your Equity, Working Smarter |
|
Please support our sponsors! |
|
|
|
|
1440 Topics gives you the overview, then points you to the best resources: |
|
> A look inside the business of selling your plasma (w/video), and everything else we've learned about blood. |
|
|
|
|
|
Clickbait: What a purple parking space means.
Historybook: Rock star Ozzy Osbourne born (1948); Actress Julianne Moore born (1960); First human heart transplant carried out (1967); Mikhail Gorbachev and George HW Bush declare end to Cold War (1989); Pulitzer Prize-winning poet Gwendolyn Brooks dies (2000). |
|
|
|
"This is the urgency: Live! And have your blooming in the noise of the whirlwind." |
- Gwendolyn Brooks, from "The Second Sermon on the Warpland" |
|
|
Behind the Name. In 1440, the printing press sparked a knowledge revolution. We carry that spirit forward, cutting through the noise and algorithm-driven feeds, to bring fact-driven knowledge to everyone.
Want to connect with 4.5 million insatiably curious minds? Become a 1440 partner here. |
|
*Disclosure: A Note From West Capital Lending
NMLS #1566096: NMLS consumer access.
This site is not authorized by the New York State Department of Financial Services. No mortgage loan applications for properties located in the State of New York will be accepted through this site.
1. A WCL HELOC is secured with your home as collateral, whereas personal loans and credit cards are not.
2. To check the rates and terms you qualify for, we will conduct a soft credit pull that will not affect your credit score. However, if you continue and submit an application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
3. Approval may be granted in five minutes but is ultimately subject to verification of income and employment, as well as verification that your property is in at least average condition with a property condition report. Five business day funding timeline assumes closing the loan with our remote online notary. Funding timelines may be longer for loans secured by properties located in counties that do not permit recording of e-signatures or that otherwise require an in-person closing, or that require a waiting period prior to closing.
4. The West Capital Lending Home Equity Line is an open-end product where the full loan amount (minus the origination fee) will be 100% drawn at the time of origination. The initial amount funded at origination will be based on a fixed rate; however, this product contains an additional draw feature. As the borrower repays the balance on the line, the borrower may make additional draws during the draw period. If the borrower elects to make an additional draw, the interest rate for that draw will be set as of the date of the draw and will be based on an Index, which is the Prime Rate published in the Wall Street Journal for the calendar month preceding the date of the additional draw, plus a fixed margin. Accordingly, the fixed rate for any additional draw may be higher than the fixed rate for the initial draw. |
|
1440 Media 222 W Merchandise Mart Plaza, Suite 1212 Chicago, IL 60654
Copyright © 2025, 1440 Media, All rights reserved. Privacy Policy. |
|
|
|
|
|
|
|
