Car Insurance Costlier than Cars?

🤳25th April 2024 | Noncompete Agreements Outlawed, Russia Vetoes UN Resolution to Halt Space Arms Race, Arizona House Moves to Overturn 1864 Abortion Law, and more!

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BUSINESS & ECONOMY

🚗 Drivers Face Skyrocketing Car Insurance Rates Boosting Inflation

U.S. auto insurance rates jumped 22% due to escalating vehicle prices and costly tech repairs, like sensors and cameras. This rise in premiums, not just influenced by typical factors such as speeding, poses challenges to consumers and inflation control. Greg Smolan of the American Automobile Association stated, "The severity... has influenced rates more over the last two years than anything." 

🚫 FTC Votes to Outlaw Noncompete Agreements

The FTC voted to ban noncompete agreements, affecting around 30 million U.S. workers. The rule allows some exceptions for senior executives and will be implemented in 120 days, facing strong opposition from business groups. FTC Commissioner Rebecca Slaughter emphasized, "It is so profoundly unfree and unfair for people to be stuck in jobs they want to leave."

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WORLD

🚀 After Months of Resistance, US Secretly Delivers Long-Range Missiles to Ukraine

Source - John Hamilton/US Army

The US delivered long-range ATACMS missiles to Ukraine as part of a $300 million aid package after resolving production and readiness concerns. President Biden approved the move in response to Russia's use of North Korean missiles. Pentagon spokesperson Maj. Charlie Dietz highlighted "With our readiness concerns resolved, we were able to provide this long-range capability to Ukraine."

🚶‍♂️ Venice Implements Tourist Entry Fee

Source - Reuters

Venice introduces a 5 euro entry fee for tourists not staying overnight to manage the 20 million annual visitors and reduce overcrowding. The fee applies on 29 peak days, starting April 25, with fines of up to 300 euros for non-compliance. Additional measures include restrictions on cruise ships and tourist group sizes. Mayor Luigi Brugnaro states, "We are not closing the city, we are just trying to make it liveable." 

🚫 Russia Blocks UN Resolution to Halt Space Arms Race

Russia vetoed a U.S.-Japan co-sponsored UN resolution aimed at preventing an arms race in space, aligning with the 1967 Outer Space Treaty. Despite majority support, only China abstained. Suspicions arise as the U.S. claims Russia is developing a nuclear-armed anti-satellite weapon. U.S. Ambassador Linda Thomas-Greenfield remarked, "So today's veto begs the question, why?" 

SCIENCE & TECH

📉 Meta Forecasts Weaker Revenue Amid Increased AI Spending

Source - Nashdaq

Meta anticipated weak revenue growth due to high forecasted spending which caused shares to drop 15% even though Meta's AI-driven performance led to a 27% revenue boost to $36.46 billion, surpassing expectations. Mark Zuckerberg emphasized a long-term strategy: "We build out the inventory first and then we monetize it," as the company plans to increase capital expenditures to between $30bn and $40bn.


🌍 Global Study identifies Coke and Pepsi as Top Plastic Polluters

A study analyzing over 1.8 million items reveals that major brands like Coca-Cola and PepsiCo are significant contributors to the 400 million metric tons of plastic produced annually, which often ends up clogging waterways, and beaches, or breaking down into microplastics that enter human bodies. Highlighting the inadequacy of recycling efforts, researcher Win Cowger stated, "It’s kind of my worst nightmare."  

SPORTS & ENTERTAINMENT

🎤 Billie Eilish advocates for Self-Pleasure "It Should Be a Ph.D. Topic"

Source - Getty Images

In a recent Rolling Stone interview, Billie Eilish candidly discusses the importance of masturbation for stress relief and managing body dysmorphia. Advocating for open conversations about sexuality, she asserts, "People should be jerking it, man. I can’t stress it enough, as somebody with extreme body issues and dysmorphia that I’ve had my entire life.” 

🔥 Miami Heat Shock Celtics, Thunder Rout Pelicans in NBA Playoffs

Source - David Butler II/USA Today Sports via Reuters 

The Miami Heat tied their NBA Eastern Conference playoff with a 111-101 win over the Boston Celtics. Despite missing Jimmy Butler, Miami shone with Tyler Herro scoring 24 points. They excelled in three-point shooting, hitting 23 from 43 attempts. Herro reflected, "We lost badly in game one and everybody responded tonight." 

OTHER NEWS

🚨 TikTok Ban Threatens Thousands of U.S. Jobs

Source - Andrew Harnik/Getty Images

TikTok's ban could jeopardize nearly 8,000 jobs, mostly in California and New YorkCalifornia Senator Laphonza Butler warned President Biden. The law could force TikTok to cease operations or restructure if it can't find a compliant owner. Highlighting overlooked labor implications, Butler stressed, "Their employment and the livelihoods of their families hang in the balance.”   

🗳️ Arizona House Moves to Overturn 1864 Abortion Law 

Source - NewYorkTimes

Arizona's Legislature is close to repealing an antiquated 1864 abortion ban, following a crucial vote where three Republican lawmakers joined Democrats. This decision celebrated as a significant win for reproductive freedom, counters a near-complete ban potentially effective from June 8. Representative Stephanie Stahl Hamilton remarked, "A repeal keeps us from going backward."

🔥 Campus Protests Escalate Over Gaza Amid University and Police Opposition

Over 120 new arrests occurred as U.S. universities, from Texas to California, acted to prevent pro-Palestinian encampments like those at Columbia University. The nationwide protests are part of a larger movement demanding divestment from entities linked to Israeli military actions in Gaza. Speaker Mike Johnson labeled Columbia's president as "inept," suggesting federal action against universities failing to control protests.  

THIS DAY THAT YEAR

On April 25th, 1959, the St. Lawrence Seaway opened, marking one of the largest civil engineering feats ever undertaken. This system links the Great Lakes with the Atlantic Ocean and accommodates ships up to 225.5 meters long and 24 meters wide.

BRAIN TEASER

I can fly but have no wings. I can cry but I have no eyes. Wherever I go, darkness follows me. What am I?

Nailed it or stumped? Hit us with a reply and find the correct answer 🎯

Here’s what yesterday’s teaser was:

I have branches, but no fruit, trunk, or leaves. What am I?

The answer is: A bank

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