Consumers not keen on Tipping

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BUSINESS & ECONOMY

💰 Gold Prices Reach New Peak Amid Fed Cut Anticipation 

Gold prices soared to record highs, spurred by U.S. rate cut anticipations and its safe haven allure as Spot gold hit $2,265.53, with futures at $2,286.39. Joseph Cavatoni of the World Gold Council highlighted the market's optimism about Federal Reserve cuts. Despite a 2.8% inflation rise, the Fed maintains its rate cut forecast, fueling gold's appeal alongside strong global demand and central bank purchases.

📈 US National Debt Grows by $677 Billion in Three Months

The U.S. national debt is increasing rapidly, surpassing $34 trillion in January and nearing $34.4 trillion, with a notable acceleration indicating a $1 trillion increase approximately every 100 days. As stated by  BlackRock CEO Larry Fink "In America, the situation is more urgent than I can ever remember," advocating for a strategic pivot towards fostering economic growth to combat the burgeoning debt issue.

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WORLD

🚧🇪🇺 Bulgaria & Romania Partially Enter Schengen Zone

The partial admission of Bulgaria and Romania into the Schengen zone, enabling unrestricted air and sea travel after 13 years, marking a pivotal move towards European unity. While land borders remain an exception in this integration, the European Commission President Ursula von der Leyen hailed it as "a great success".

🔊 Thousands Protest Against Netanyahu's Government in Jerusalem

Amidst a backdrop of escalating conflict with Gaza resulting in significant Israeli casualties, Jerusalem saw a massive turnout of citizens rallying against the exemptions from military service granted to ultra-Orthodox Jews under Prime Minister Netanyahu's government. Following the Supreme Court's decision to cut off funding for these exempt individuals, public outrage has grown, with calls for immediate elections arising.

SCIENCE & TECH

📱 Google Announces Apple's RCS Support for iPhone Coming Fall 2024

The Android website heralds the arrival of RCS on iOS in the fall of 2024, promising enhanced messaging with features like high-res photos and better group chats. Apple's adoption of RCS, anticipated to align with iOS 18, signals a major upgrade in cross-platform communication. Google is also hinting at new RCS features like animated emojis and is currently beta-testing features like Screen Effects and Custom Bubbles. 

🌌 Microsoft & OpenAI Set to Build $100 Billion 'Stargate' Supercomputer

Microsoft and OpenAI announce Stargate, a $115 billion AI supercomputer project for 2028 in the U.S., addressing the high demand for generative AI. The project, set in five phases, will significantly exceed Microsoft's previous infrastructure investments and might require nuclear energy for its gigawatt power demands, raising concerns over nuclear waste management and environmental challenges.

SPORTS & ENTERTAINMENT

🏀 Zach Edey powers Purdue to first Final Four since 1980 defeating Tennessee 72-66

Purdue's Zach Edey scored a career-high 40 points in a 72-66 victory over Tennessee, leading his team to the Final Four for the first time since 1980. The game, highlighted by a duel between Edey and Tennessee's Dalton Knecht—who scored 37 points—featured six ties and eight lead changes. Purdue's coach, Matt Painter, stated, "He could’ve scored 50 tonight if he’d made his free throws," pointing out a missed opportunity. 

🏀 LeBron James Scores 40, Hits Career-Best 3-Pointers to Propel Lakers Over Nets

LeBron James shined with 40 points and a record-tying nine 3-pointers in the Lakers' 116-104 win over the Nets, hinting at an approaching retirement by stating, "Not very long... I don't have much time left." This performance underlines his enduring impact as the Lakers solidify their playoff positioning with a 42-33 record, ranking ninth in the Western Conference.

🎵 Beyoncé's "Cowboy Carter" Shatters Spotify & Amazon Music Streaming Records

Beyoncé's country album "Cowboy Carter" has made history as Spotify's most-streamed album in a single day in 2024 and Amazon Music's biggest album debut by the artist. Featuring collaborations with stars like Miley Cyrus and a cover of Dolly Parton's "Jolene," the album marks Beyoncé's exploration into country music, inspired by her personal experiences and a deep dive into the genre's history.

OTHER NEWS

🌪️  April's Mega Storm Set to Unleash Severe Weather Across U.S.

The recent severe weather outbreak across the United States, marked by a powerful storm that unleashed heavy snowfall and flooding in California, is now setting the stage for a series of extreme weather conditions, including potential flash floods, large hail, and tornadoes, across Oklahoma, Kansas, Missouri, and Illinois, highlighting the role of climate change in increasing both the frequency and intensity of extreme weather phenomena.

🤑 Nearly 75% are Overwhelmed by Tipping Expectations

A WalletHub survey highlights growing frustration with tipping culture, with 75% viewing it as excessive and many seeing it as a shift of wage responsibility from employers to customers, a majority oppose automatic service charges and feel pressured to tip. Cortney Norris, a hospitality expert, warns of potential negative impacts for those depending on tips if this frustration peaks.

🏠 Homebuyers Now Require 80% Higher Income Than in 2020 for Affordability

Zillow's recent study revealed the stark reality of the U.S. housing market, with the income required to afford a home soaring to $106,000—80% more than in 2020—while median incomes have only increased by 23%. Chief Economist Orphe Divounguy highlights, "The income needed to comfortably afford a typical home is now six figures," underscoring the affordability crisis in the housing market.

THIS DAY THAT YEAR

On April 1, 2004, Google co-founders Larry Page and Sergey Brin launched Gmail as an April Fool's Day surprise. Initially offering 1 GB of storage, which was unprecedented at the time, Gmail came with advanced search capabilities and an intuitive conversation threading, revolutionising email services and marking the start of Google's expansion.

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