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🤳16th August 2023 | US Retail Sales Surge, Poland Holds Largest Military Parade Since Cold War, Google Search Adds Generative Experience, WGA and Studios Still Deadlocked, and more!
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What’s Hot? The entire police force of Goodhue, Minnesota (population: 1,250) has handed in their badges over low pay. With a touch of irony, a meeting meant for discussing pay raises turned into a resignation party! For now, the county sheriff will keep the peace while Mayor Buck plots a police comeback.
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📈 "Fed Official Confirms High-Interest Rates to Stay
Federal Reserve official Neel Kashkari suggests that the central bank is "a long way" from cutting its key interest rate, currently at the highest since 2001. Despite impacting credit card, mortgage rates, and businesses' expansion abilities, the rate hikes have subdued scorching inflation from 9.1% to 3.2% within a year. Kashkari stated, "We need to be reasonably confident that it’s all the way going back down to 2%," indicating possible rate cuts only next year or later.
💪 US Retail Sales Surge, Showcasing Economic Strength
U.S. retail sales rose by a better-than-expected 0.7% in July, driven by online shopping and increased dining out. Despite the strong wage gains from a tight labor market, Andrew Hunter of Capital Economics said, "As long as core inflation continues to fall rapidly, resilient growth won't in itself be enough to prompt further rate hikes from the Fed." However, concerns persist as credit card defaults reach an 11-year high.
Polish President Andrzej Duda, Source- Reuters
🎖️ Poland Holds Largest Military Parade Since Cold War
Poland displayed its military strength in a massive Armed Forces Day parade in Warsaw, featuring 2,000 NATO soldiers and advanced defense equipment. Polish Defense Minister Mariusz Blaszczak emphasized, "August 15 is a perfect day to show our strength." The parade showcased M1A1 Abrams tanks, K2 tanks, and K9 howitzers. Poland, supporting Kyiv against Russia, has significantly increased its defense spending, pledging 4% of GDP this year.
🌀 Typhoon Lan Triggers Mass Evacuations and 900+ Flight Cancellations in Japan
Typhoon Lan has swept through Japan, prompting evacuation warnings for over 237,000 residents and leading to the cancellation of more than 950 flights. The storm, equivalent to a Category 2 hurricane, injured at least 26 people and caused heavy flooding and landslides. Two towns recorded rainfall surpassing their August average in just a few hours. The typhoon has now weakened to tropical storm strength but still poses a risk due to concentrated rains.
🔍 Google Search Adds Generative Experience (SGE) for Enhanced Browsing
Google's Search Generative Experience (SGE) now includes features like web page summarization while browsing on Chrome or Google's app, but not on paywalled content. It also offers definition overlays in SGE responses, and color-coded syntax highlighting in code examples. Google stated these enhancements will "help you better learn and make sense of information on the web."
🍏 Apple to Begin $500M 'Batterygate' Lawsuit Payouts
Apple is paying out $65 to users in the wake of a 2018 class action lawsuit alleging intentional iPhone slowdowns to encourage upgrades. The company, which agreed to pay up to $500 million in 2020, denied wrongdoing, attributing the slowdown to battery issues. "The settlement is the result of years of investigation and hotly contested litigation," said Mark C. Molumphy of the firm representing the claimants, adding they were proud to finally provide payments to affected customers.
Source- Getty Images
✊ WGA and Studios Still Deadlocked as Strike Continues
The 106-day strike between the Writers Guild of America (WGA) and the Alliance of Motion Picture and Television Producers (AMPTP) remains unresolved. Disagreements persist over streaming residuals, TV writer staffing, and minimum tiers. The WGA seeks to honor other unions' picket lines and secure health plan funding during the strike. Optimism over a breakthrough has waned, highlighting challenges in reaching an agreement.
⚽ Neymar's Big Move: PSG to Al Hilal
Brazil's Neymar completes €90 million ($98.6m) transfer from PSG to Saudi's Al Hilal, seeking new challenges: "Always wanted to be a global player." He joins on a lucrative two-year deal with around $100 million annual salary. PSG's president thanked Neymar, wishing him well on his "next adventure."
🚫 DeSantis’ Appointees Seek Immediate Ruling Against Disney
Disney faces a potential ruling without trial in a lawsuit initiated by Florida Governor Ron DeSantis' appointees over his takeover of a board governing Walt Disney World. This action was sparked by Disney's opposition to the "Don't Say Gay" law. DeSantis' appointees claim Disney wrongly stripped their powers. Another federal case involves Disney alleging DeSantis violated free speech rights. DeSantis urged Disney to drop the lawsuit, asserting, "They're going to lose that lawsuit."
🔥 Maui Fires Update: Biden Steps Back as Hawaii's Death Toll Hits 106
President Joe Biden, addressing criticism of his response to the Hawaii wildfires, stated that he and First Lady Jill Biden plan to visit Hawaii "as soon as we can," but he doesn't want to "get in the way" of the "painstaking work" by emergency responders. As Lahaina residents return, officials warn of health risks from contamination. Hawaii officials expect the toll to rise as hundreds are still missing, as Governor Josh Green predicts "10 to 20" more bodies will be found daily as search efforts continue.
💰 Woman Wins $1.2 Billion in Revenge Porn Lawsuit
A Texas woman, identified as D.L., was awarded $1.2 billion after her ex-boyfriend, Marques Jamal Jackson, posted intimate images of her online. The jury in Houston ordered Jackson to pay $200 million for mental anguish and $1 billion in punitive damages. D.L.'s attorney, Brad Gilde, called the case "image-based sexual abuse" and said the verdict could deter similar behavior. The case included accusations of Jackson spying on D.L. through her security system, harassment, and fraudulent use of her bank account.
🚭 Study Links Vaping to Lung Issues in Youth
A study published in Thorax found that vaping increases young people's risk of bronchitis and shortness of breath. Researchers, who tracked youths' respiratory health from 2014 to 2018, noted e-cigarette users were twice as likely to report bronchitic symptoms. Expressing concern over vaping's popularity among youth and its unknown long-term effects, Jon Foster of Asthma + Lung UK urged, "Much stronger action is needed from the Government, especially to prevent under-18s accessing vapes."
Source- Getty Images
On 16 August 2016, influential Brazilian businessman and sports official João Havelange, who presided over FIFA from 1974–98, passed away at the age of 100. Under his leadership, FIFA became one of the world's largest and most powerful sports organizations, fostering a global appreciation for football (soccer).
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