GenZ Outpaces Millennials in Debt

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BUSINESS & ECONOMY

💳 Gen Z's Credit Card Debt Surpasses Millennials by Over 25%

Recent data reveals Gen Z’s aged 22 to 24 held an average credit card balance of $2,834 in Q4 2023, surpassing millennials at the same age by $586, marking a 26% increase, this is because of rising costs of essentials, as well as a larger percentage of students graduating with loans. Economist Charlie Wise stated, "This is a generation that is feeling financial stress in a more acute way than millennials did a decade ago." 

📣 Majority of Customers to Receive Full Refunds from Bankrupt Crypto Exchange

Following a court filing, FTX, a cryptocurrency exchange, aims to reimburse most customers. With debts of $11.2 billion, it plans to distribute $14.5 to $16.3 billion in assets. Customers with claims of $50,000 or less will receive around 118% of their claim amount. Pending approval, this reorganization offers relief to customers affected since FTX's November 2022 bankruptcy filing.

🏙️ NYC Leads with 1 in 24 Residents as Millionaires

New York City leads as the millionaire capital with one in every 24 residents worth a million or more, totaling nearly 350,000 millionaires due to its unparalleled economic vibrancy, global financial influence, and diverse industries, despite some of its wealthiest residents fleeing for Miami, New York City is also home to 744 centi-millionaires, worth at least $100 million and 60 billionaires total wealth exceeding $3 trillion.

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WORLD

🔌 Ukraine Enforces Nationwide Electricity Rationing Post Russian Airstrikes

Ukraine orders nationwide electricity rationing measures after Russian strikes hit six Ukrainian regions, damaging power plants and targeting energy infrastructure. Ukrenergo the national electricity transmission warns of brownouts, citing “electricity shortages”. President Zelensky condemns attacks, vowing resilience stating, "Ukraine will not yield to such barbarism."  

🌟 Hamas Rejects Further Compromise for Gaza Ceasefire

Hamas refuses further concessions in Gaza ceasefire talks with Israel, citing distrust over ongoing Israeli military actions in Rafah. Israel's closure of the Rafah border, vital for aid and patient evacuation makes it worse, Izzat El-Reshiq political office in Qatar, stated “Israel isn’t serious about reaching an agreement and it is using the negotiation as a cover to invade Rafah and occupy the crossing.”  

SCIENCE & TECH

🔍 OpenAI Explores Ethical AI Porn Generation

OpenAI explores the responsible integration of AI-generated porn into its technology, with a focus on age-appropriate contexts and societal norms by investigating ways to provide the capability to generate NSFW content within suitable boundaries through the API and ChatGPT using a colloquial term for content considered “not safe for work” contexts.  

📈 90% of U.S. adults  over 20 at risk of heart syndrome

Almost 90% of US adults over 20 are at risk of heart disease due to factors like obesity, diabetes, and kidney disease. The study, published in JAMA, shows the widespread presence of cardiovascular-kidney-metabolic (CKM) syndrome, affecting major organs even in younger adults. Study co-author Dr. Rahul Aggarwal stated, "We absolutely were surprised that almost 90% of people met the criteria." 

🤝 EU to Fund Ukrainian Arms with Profits from Russian Assets

EU nations will utilize approximately €3 billion in profits from Russia's frozen assets, managed by Euroclear, Belgium's central securities depository, to enhance Ukraine's defenses. Starting in July, with annual transfers, this endeavor will notably strengthen Kyiv's military capabilities with 90% of the allocated funds will directly contribute to arms procurement, while the remaining 10% will support infrastructure reconstruction.

SPORTS & ENTERTAINMENT

🔄 Disney and Warner to Merge Streaming Platforms

Disney and Warner Bros Discovery announced plans to bundle Disney+, Hulu, and Max streaming services in the US this summer, this is because Disney and Warner Bros face competition from rivals Netflix and Amazon Prime Video.  Warner Bros Discovery executive JB Perrette stated This new offering... will help drive incremental subscribers and much stronger retention. ” 

🏆 Nikola Jokic Joins NBA Legends with Third MVP Victory

Nikola Jokic secured his third NBA MVP award, making history as the first international player to achieve this feat. The Denver Nuggets' center triumphed over competitors Shai Gilgeous-Alexander and Luka Doncic, clinching 79 of 99 first-place votes. Jokic, recognizing his team's pivotal role organization stating “You’ve got to start with your teammates. Without them, I can’t do anything.'

🏆 Real Madrid edges Bayern 2-1, secures Champions League final spot

Real Madrid secured their spot in the Champions League final with a thrilling 2-1 victory over Bayern Munich. Joselu emerged as the hero with two late goals, including one in stoppage time. Coach Carlo Ancelotti described the night as "magical.". Madrid will now face Borussia Dortmund in the final, with Ancelotti adding, "It’s simply something magical that happens in this stadium." 

OTHER NEWS

🚫 House swiftly rejects Marjorie Taylor Greene's bid to remove Speaker Johnson

Republican Representative Marjorie Taylor Greene's bid to oust House Speaker Mike Johnson faced swift rejection in a bipartisan House vote. Greene accused Johnson of enabling Democratic policies, claiming he hadn't fulfilled Republican promises. Greene vowed to continue fighting stating, "I didn't run for Congress to come up here and join the uni-party," she said, "and the uni-party was on full display today." 

🚨 Florida sheriff deputies mistakenly shoot and kill U.S. airman in wrong apartment, attorney claims

Deputies mistakenly entered the wrong unit and fatally shot Senior Airman Roger Fortson, 23, who was alone on a Facetime call with an unidentified woman while holding a gun. Responding to a disturbance call, deputies fired six shots. Attorney Ben Crump stated, "We are calling for transparency in the investigation into Roger's death and the immediate release of body cam video to the family."    

THIS DAY THAT YEAR

On May 9th, 1502, the seasoned explorer Christopher Columbus embarked on his fourth and ultimate journey from the bustling port of Cádiz, Spain. This time, his quest was not only for the riches of the East but also for the elusive passage to Asia. With his sails unfurled and

BRAIN TEASER

What fastens two people yet touches only one?

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Here’s what yesterday’s teaser was:

What can you put in a bucket to make it weigh less?

The answer is - A Hole

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