Fed Eases Bank Rules

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BUSINESS & ECONOMY

🪙 Fed Eases Banking Rules, Big Win for Wall Street 

Federal Reserve Vice Chair Michael Barr unveiled a revised banking regulation plan on Tuesday, reducing capital requirements for large banks from 19% to 9% after industry pushback. Regional banks are mostly exempt from the changes. Sen. Elizabeth Warren criticized the revision as a "Wall Street giveaway," warning of increased financial risks. Barrs stated, “These changes would better balance the benefits and costs of capital.”

📉 US Small Business Confidence Dips in August Amid Growing Uncertainty

U.S. small business confidence fell in August, with the NFIB's Small Business Optimism Index dropping 2.5 points to 91.2 amid rising uncertainty before the Nov. 5 presidential election. The Uncertainty Index hit 92, the highest since October 2020. Job creation plans and expected sales volumes also declined, while labor shortages persisted. NFIB Chief Economist Bill Dunkelberg noted, “Clearly, ‘uncertainty’ has been on the rise.”

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WORLD

🔥West Bank could become the next Gaza without global action

EU diplomat Josep Borrell cautioned on Tuesday that escalating violence in the Israeli-occupied West Bank, following the Israel-Hamas war, risks turning the area into "a new Gaza." He expressed concerns over actions undermining the Palestinian Authority and increasing military operations. Borrell stated, “Without intervention, the West Bank could become a new Gaza."

🚨 Palestinians' UN Proposal Calls for Israel's Exit from Gaza & West Bank in 6 Months 

The Palestinians have submitted a draft U.N. resolution calling for Israel to end its "unlawful presence" in Gaza and the West Bank within six months, based on a recent ruling from the International Court of Justice. The resolution, aimed at the General Assembly, demands immediate Israeli military withdrawal and reparations for Palestinians. Ambassador Riyad Mansours stated, “The time for waiting is over.”

🚨 Israeli Soldiers Ram UN Vehicles with Bulldozer, Fire Shots, Then Release

Israeli soldiers detained a UN convoy at the Wadi Gaza checkpoint on Monday, ramming vehicles with bulldozers and firing shots before releasing them. Soldiers demanded two passengers, compacted the convoy, and dropped debris on one vehicle, trapping staff inside. UN spokesperson Stéphane Dujarric called it "a severe violation." 

SCIENCE & TECH

🍏 Apple ordered to pay €13B in back taxes

Europe’s top court ruled against Apple on Tuesday in a 10-year tax dispute with the European Commission. The case began in 2016 when the Commission ordered Ireland to recover €13 billion in back taxes, alleging Apple received "illegal" tax benefits over two decades. Apple’s appeal was overturned and it now faces a one-time income tax charge of around $10 billion in its fiscal Q4 of 2024. 

🚀 SpaceX Sends Billionaire on First Private Spacewalk 

The Polaris Dawn mission, led by Jared Isaacman in collaboration with SpaceX, successfully launched from Kennedy Space Center on Tuesday after weather-related delays. The civilian crew of four aims to conduct the first commercial spacewalk at 435 miles above Earth, testing new SpaceX spacesuits and targeting the highest human spaceflight altitude since the Apollo era. Isaacman stated, "We are getting closer to getting this mission to orbit." 

SPORTS & ENTERTAINMENT

👶 Dave Grohl Reveals Fathering Child Outside Marriage

Dave Grohl, Foo Fighters frontman, revealed he recently fathered a daughter outside his marriage to wife Jordyn Blum. In an Instagram statement, Grohl expressed his commitment to being a loving parent and working to regain his family's trust. He asked for privacy for the children involved, saying, "I am doing everything I can to earn their forgiveness." 

🎤 Taylor Swift Backs Kamala Harris After Debate

Taylor Swift endorsed Vice President Kamala Harris after the 2024 presidential debate against Donald Trump. Swift praised Harris as a "steady-handed, gifted leader" and expressed support for her running mate, Tim Walz, noting his advocacy for LGBTQ+ rights and women's reproductive rights. Swift encouraged her 283 million followers to vote, stressing the importance of early registration, and stated “I’ve done my research, and I’ve made my choice.” 

🔥 Michigan Judge Orders Diddy to Pay $100M in Assault Case

Michigan judge orders Sean "Diddy" Combs to pay $100 million to Derrick Lee Cardello-Smith, who accused Combs of drugging and sexually assaulting him in 1997. The Lenawee County judge issued a default judgment after Combs failed to appear in court. Combs’ attorney denied the allegations, stating, “Mr. Combs has never heard of him, let alone been served with any lawsuit.”

OTHER NEWS

✈️ 2 Delta Planes Collide on Atlanta Tarmac 

Two Delta planes collided on the tarmac at Hartsfield-Jackson Atlanta International Airport on September 10, 2024. Delta Flight 295, bound for Tokyo, clipped the tail of Endeavor Air Flight 5526, heading to Louisiana. No injuries were reported among the 277 passengers aboard both planes. The FAA and NTSB are investigating. Delta stated, “All passengers were accommodated on new flights.”

🔥 Key Takeaways from Trump vs. Harris Debate

Kamala Harris and Donald Trump faced off for 1 hour and 45 minutes, with Harris challenging Trump’s rally size, calling them “boring,” while Trump responded, “People don’t leave my rallies.” Trump repeated conspiracy theories, including migrants “eating pets.” On abortion, Harris highlighted women “denied care,” while Trump defended overturning Roe as “a great service.” Harris closed with, “You deserve a president who puts you first.”

🏛️ Transgender Lawmaker Secures Delaware's Democratic Primary Win

Transgender Delaware state legislator Sarah McBride won the Democratic primary for the state’s sole U.S. House seat. As the leading candidate for November’s general election, McBride could become the first openly transgender member of Congress. She defeated three Democratic rivals and will face Republican James Whalen III. She stated, “It’s difficult to hate someone whose story you know.” 

THIS DAY THAT YEAR

On 11th September 2001, 19 al-Qaeda militants hijacked four planes in the United States, launching a coordinated terrorist attack. Three planes struck major landmarks, while the fourth crashed in Pennsylvania. The devastating assault claimed nearly 3,000 lives, marking a pivotal moment in global history.

BRAIN TEASER

Touch me and you touch no more. Use me and it's less of a chore. Stretch me when you're saving a life but leave me if it's warm outside. What am I?

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Here’s what Yesterday’s teaser was:

Compact creatures consistently caught, A waif woeful widow woven. A translucent template tense and taut, Can civilized calmly cause cloven. What am I?

The answer is: A spider's web.

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