FTC Tackles Subscription Hassles

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BUSINESS & ECONOMY

⚖️ US to Ban Subscription Traps with 'Click to Cancel' Rule

The US Federal Trade Commission (FTC) has adopted a 'click to cancel' rule, effective in about six months, to simplify subscription cancellations. It requires businesses like retailers and gyms to ensure easy sign-ups and cancellations, and to obtain consent before renewing subscriptions or converting free trials. FTC Chair Lina Khan stated, “The FTC’s rule will end these tricks and traps, saving Americans time and money.” 

🚀 Morgan Stanley Shares Surge 7% After Beating Q3 Profit and Revenue Estimates 

Morgan Stanley's shares surged 7.5% after beating third-quarter earnings and revenue estimates. The bank posted earnings of $1.88 per share, above the $1.58 estimate, and revenue rose 16% to $15.38 billion, surpassing expectations of $14.41 billion. Strong wealth management growth and a 56% boost in investment banking drove results. CEO Ted Pick stated, “Our global footprint supported a robust third-quarter performance.” 

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WORLD

🛑 UNRWA Approaches Breaking Point in Gaza Operations

UNRWA, the U.N. Palestinian refugee agency, is nearing a breaking point in Gaza, as chief Philippe Lazzarini warned of financial and operational challenges. With aid urgently needed amid rising threats of famine and disease, he stated, “I will not hide the fact that we might reach a point that we won't be able anymore to operate.”

🤰 Italy Bans Overseas Surrogacy for Couples

Italy's parliament, led by Prime Minister Giorgia Meloni’s Brothers of Italy party, made it illegal for couples to pursue surrogacy abroad, extending a 2004 ban. The new law imposes up to two years in prison and €1 million in fines. Critics claim it targets LGBTQ couples, but Senator Lavinia Mennuni defended the move, stating, “Motherhood is absolutely unique; it cannot be surrogated.”

✈️ U.S. Stealth Bombers Target Houthi Weapons in Yemen

The U.S. military, following President Biden’s orders, conducted airstrikes on Wednesday, targeting five underground weapons sites in Houthi-controlled Yemen. Using B-2 stealth bombers and Navy support, the strikes aimed to limit the Houthis' ability to threaten vessels in the Red Sea and Gulf of Aden. Defense Secretary Lloyd J. Austin III stated, “This was a unique demonstration of the United States’ capability to target facilities.” 

🇺🇦 Zelensky Unveils 'Victory Plan' to Parliament

Ukrainian President Volodymyr Zelensky outlined a "victory plan" to parliament, aiming to solidify Ukraine’s position and potentially end the conflict with Russia by next year. The plan proposes NATO membership, lifting restrictions on long-range strikes, continued military actions, and a firm stance on territorial integrity. Zelensky emphasized, “Victory has become for some an uncomfortable word and it’s not easy to achieve.”

SCIENCE & TECH

🌈 Amazon Unveils First Color Kindle for $279

Amazon has launched the Kindle Colorsoft, its first e-reader equipped with a color display, as announced on Wednesday. This innovative device, priced at $279, features a display that preserves color clarity, even when zoomed in. Preorders are now open, with shipping scheduled for October 30. Additionally, Amazon revealed updates to other Kindle models, marking the largest refresh in the lineup's history. 

🚀 Apple Enhances Tools for Business-Customer Connections

Apple has introduced an expansion of its Business Connect tool, which now supports businesses, including those without physical locations, to engage with over 1 billion users. Companies can establish a cohesive brand presence across apps like Maps and Mail. New features include Branded Mail for recognizable emails and logo displays in Tap to Pay, with free registration to enhance customer trust and interaction.

SPORTS & ENTERTAINMENT

🕊️ Liam Payne, One Direction star dies at 31 after hotel fall in Argentina. 

Liam Payne, former One Direction singer, died at 31 after reportedly falling from his hotel balcony in Buenos Aires, Argentina, where he attended Niall Horan’s concert. Known for his role in the band that sold 70 million records, Payne faced struggles with alcohol, marking 100 days sober in 2023. Simon Cowell said, “He will be remembered for his talent.” 

🚪 Big Meech Released from Prison, Finishing Sentence in Halfway House

Demetrius "Big Meech" Flenory, co-founder of the Black Mafia Family, has been moved from FCI Coleman Low in Florida to a halfway house managed by Miami’s Residential Reentry Management Office. Arrested in 2005, he was sentenced to 30 years in 2008 for drug trafficking and money laundering, with a recent sentence reduction. His attorney, Brittany K. Barnett, expressed being “overjoyed” about his transition. 

🏀 Caitlin Clark Makes 2024 All-WNBA First Team

Indiana Fever guard Caitlin Clark has been named to the 2024 All-WNBA First Team, becoming the first rookie since 2008 to earn this honor. Clark received 52 First Team votes from a panel of 67 sportswriters and broadcasters. This recognition follows her WNBA Rookie of the Year award earlier this month.  Clark stated, “It’s a tremendous honor to be named among such talented players.”

OTHER NEWS

🌀 IV fluid shortage prompts US to use wartime powers

Hospitals across the U.S. are delaying elective surgeries due to an IV fluid shortage after Hurricane Helene flooded Baxter International’s North Carolina plant, a key supplier. The FDA declared a shortage and approved temporary imports, but supply remains limited. Hospitals are conserving fluids to manage the situation. Chris DeRienzo, chief physician executive stated, “We need a continuous, consistent flow to the hospitals.”

🗣️ Harris Stands Firm in Tense Fox News Interview on Biden’s Leadership

Vice President Kamala Harris sat down with Bret Baier on Fox News for a tense interview, tackling issues like immigration, Biden’s cognitive health, and crimes involving migrants. Baier questioned border policy and Biden’s mental state, asking, “When did you first notice any decline?” Harris defended, “He has the judgment and experience,” and emphasized, “I represent a new generation of leadership.”

💰 Los Angeles Archdiocese Settles Sex Abuse Claims for $880 Million

The Archdiocese of Los Angeles has agreed to pay $880 million to settle claims from 1,353 individuals alleging clergy sexual abuse, marking the largest single payout by a diocese. Announced Wednesday, the settlement follows decades of litigation enabled by a 2019 California law. Payments will come from reserves, investments, and loans. Archbishop José H. Gomez stated, “I am sorry for every one of these incidents.”

THIS DAY THAT YEAR

On October 17th, 1979, Mother Teresa, the founder of a Roman Catholic order devoted to serving the poor and marginalized, especially in India, was honored with the Nobel Peace Prize for her compassionate work and dedication to humanity.

BRAIN TEASER

If you drop a yellow hat in the Red Sea, what does it become?

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

Here’s what Yeterday’s teaser was:

What gets wet the more it dries?

The answer is: A towel

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