$215M to dispose surplus wine!

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📈 Mester Predicts Rate Hike; Suggests Delay in Cuts

Loretta Mester of the Cleveland Federal Reserve suggests one more U.S. interest-rate hike to combat inflation, followed by a pause, aiming to achieve the Fed's 2% inflation goal by 2025, noting, "We just don't want it to keep drifting farther out." Initially eyeing rate cuts for 2H 2024, she plans to reassess this ahead of the Federal Open Market Committee meeting on September 19th-20th.


📉 "US Consumer Spending: Slowing, Not Plunging

Following a strong summer of consumer spending, the US economy may decelerate due to the Federal Reserve's inflation measures. Matthew Palazzolo, senior investment strategist predicts no significant recession but expects "a softening of the economy." Key concerns include upcoming student loan repayments and increasing credit card debt.

🚨 Niger's Military on High Alert Amid ECOWAS Attack Concerns

Niger's military heightens alert due to threat concerns as ECOWAS negotiates with coup leaders, amid massive local support for the recent coup. ECOWAS hinted at potential military intervention earlier, but its President Omar Alieu Touray cleared the air stating, “ECOWAS has neither declared war on the people of Niger nor... plan to invade.”

🇹🇼 Foxconn's Founder Terry Gou Runs for Taiwan President

Billionaire Foxconn founder, Terry Gou, launched his independent presidential bid for Taiwan's January elections. Criticizing the ruling DPP for pushing Taiwan towards "the danger of war", he declared, "Taiwan must not become Ukraine." To qualify, Gou must secure 300,000 signatures by Nov. 2. He emphasized his autonomy from China, asserting he doesn't "follow their instructions."

🌡️ Extreme Heat May Halt Photosynthesis, Killing Tropical Flora

Tropical trees cease photosynthesis at 116°F, endangering rainforests and potentially releasing six times 2022's global carbon emissions if they die off, according to a study at Chapman University. Research spanning multiple countries found that 0.01% of leaves exceeded this heat threshold, If unchecked, the resulting carbon release could drastically accelerate climate change, warns Christopher Doughty, a professor of ecoinformatics.

✈️Air Force Seeks $5.8B for 2,000 AI-Driven Valkyrie Jets

The Air Force requests $5.8 billion for 1,000-2,000 AI-driven XQ-58A Valkyrie crafts, designed to accompany human pilots in high-risk scenarios. Cruising at 550 mph and costing $3-$25 million each, they've garnered military support. However, advocates, citing concerns about machines making life-or-death decisions, deem such autonomy "morally repugnant," while the UN's António Guterres has previously called for their prohibition.

🥇 Simone Biles clinches 8th U.S. gymnastics title

Simone Biles won her eighth U.S. championship, a decade after her first. Reflecting on her performance, she said, "It just doesn't feel real for some reason." At 26, she's breaking records set in the 1925-1933 era. As she eyes the Paris Olympics, Biles intends to keep her goals more personal, noting, "I'm trying to move a little bit differently this year."

🏌️‍♂️ Viktor Hovland clinches Tour Championship and FedEx Cup

Norwegian golfer Viktor Hovland secured a victory at the Tour Championship at East Lake Golf Club. From practicing in Norway's brief summer daylight, Hovland has soared, saying, "It's been pretty surreal. Obviously, you dream about it, but these things happen when you don't really expect them." With his win, he clinched the FedEx Cup and an $18 million bonus.

🚔 Mitchel Musso of 'Hannah Montana' arrested for intoxication, theft

"Hannah Montana" star Mitchel Musso was arrested in Rockwall, Texas, for public intoxication and theft after allegedly taking chips from a hotel without paying and becoming verbally abusive. The incident also led to the discovery of multiple outstanding traffic warrants. Musso spent a night in the Rockwall County Detention Center before being released on a $1,000 bond.

🌐 Remote workers feel less connected to company missions

Gallup's survey indicates fully remote workers feel detached from their workplace's "mission and purpose," with only 28% feeling connected. Despite higher engagement, they're distanced from the company's larger vision. Brian Elliott warns against "return-to-office" mandates, emphasizing: "If you don't trust them, they actually are going to work less hard for you," underscoring the value of trust in fostering commitment.

🔒 Trump collects $7.1 million post-Atlanta jail booking

Indicted on multiple charges related to his false 2020 election claims, former President Donald Trump raised $20 million in three weeks. After his Atlanta fraud case mug shot, he amassed $ 7.1 million in a day, spurring varied merchandise. Facing four indictments, including the Jan. 6 Capitol attack, Trump consistently denied all charges.

🍷 France offers $215M to farmers to dispose of surplus wine

The French government is allocating $215 million to assist winemakers in Bordeaux and Languedoc to offload a surplus of 400 million bottles due to decreased demand and pandemic impacts. Funds will help convert wine into pure alcohol for other industries. Jean-Philippe Granier noted, “We’re producing too much, and the sale price is below the production price, so we’re losing money.”

🧠 No Connection Found Between Youth Social Media Use and Mental Health Issues

A study in Computers in Human Behavior found no significant link between youths' social media activity and depression or anxiety symptoms. Tracking kids from ages 4-16, the research addresses debates on social media's impact on mental health. Study author Silje Steinsbekk said, “Increased use of social media is not related to more symptoms.” The findings may not apply across all cultural contexts.

On 28 August 1963, around 200,000 individuals converged on Washington, D.C., marking a pinnacle in the civil rights movement. This monumental day is best remembered for Martin Luther King, Jr.'s iconic "I Have a Dream" speech.

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