Global AI Regulation Enacted

Hey there scroller🤳

Ready for another day’s headstart with some fresh news?

If your pal sent this to you, then subscribe to stay the most informed person in the room😉

BUSINESS & ECONOMY

📉 Businesses Seen as Bigger Culprits Than Biden in Persistent Inflation

In a recent Financial Times-Michigan Ross poll, 63% blame inflation on corporations exploiting conditions, up from 54%. President Biden, facing a 59% disapproval rating for his economic management, argues high inflation results from corporate greed, emphasizing his commitment to combating price gouging. Despite inflation's 0.4% February rise, consumer confidence has rebounded. 

🏠 Mortgage Demand Surges with Interest Rates Below 7%

Mortgage applications surged 7.1% as rates dipped below 7%, with a significant drop in the 30-year loan average to 6.87%. Mike Fratantoni of the MBA linked the decrease to economic slowdown indicators, sparking a rebound in housing demand and refinancing, though activity remains low. Jerome Powell hinted at potential rate cuts contingent on inflation control, amidst a 34.3% decline in home supply since pre-pandemic levels, complicating the housing market's recovery.

TOGETHER WITH DECODE

Every day, countless AI breakthroughs reshape industries, but how many truly matter to you? 

Enter Decode, your 5-minute AI-centric digest from the latest plugins, and groundbreaking tools, to the latest news with actional insights that truly matter. They sift through the noise and deliver only what's crucial to your success.

Transform, Innovate, Lead. Unlock the Power of AI with Decode. 

Subscribe Now In One Click!

WORLD

🔒 Kidnappers Threaten to Kill 287 School Children in Nigeria Unless $622,000 Ransom Paid

Gunmen in Nigeria have kidnapped 287 schoolchildren, demanding a $621,848 ransom and threatening to kill them if not paid within three weeks, as retribution against the government. The kidnapping occurred on March 7 in Kaduna, with some children rescued but many still held. Governor Uba Sani has committed to ensuring their safe return amidst a backdrop of frequent abductions in the area.

📦 Biden Admin Unveils Ukraine Weapons Package Amid Funding Concerns

The Biden administration unveiled a $300 million military aid package for Ukraine, spurred by unexpected savings and aimed at countering Russian aggression. National Security Adviser Jake Sullivan stressed the urgency, noting Ukraine's ammunition shortage is "costing terrain, lives, and strategically costing us." President Biden urged Congress for more funding, warning "Russia won't stop at Ukraine," highlighting the package's temporary relief amidst a plea for sustained support.

🇩🇰 Denmark Initiates Female Military Conscription

Denmark is set to include women in military conscription and extend service to meet NATO targets, increasing its defense budget by $6bn to deter war, as stated by PM Mette Frederiksen: "We do not rearm because we want war. We are rearming because we want to avoid it." This initiative aims at gender equality and enhanced preparedness amid Europe's rising tensions post-Russia's Ukraine invasion.

SCIENCE & TECH

🤖 European Parliament Enacts First Global AI Regulation

The EU's landmark AI Act, emphasizing stringent regulations and transparency for AI technologies, has been approved, targeting prohibited and high-risk AI uses while sparking debates on innovation impact. With phased enforcement, it aims for a balanced approach to innovation and societal protection, setting a global precedent for AI governance amidst concerns from global AI leaders about regulatory challenges.

🏛️ US House Backs TikTok Sale Proposal

In response to national security concerns, a U.S. bill aiming to transfer TikTok's ownership to the U.S. or ban it passed the House with strong bipartisan support. TikTok criticizes the move as a "ban," highlighting potential economic effects on millions of users and businesses. The bill's progression reflects escalating U.S.-China tensions over technology control and trade, with significant geopolitical implications if enacted.

SPORTS & ENTERTAINMENT

🎨 Artists, Speakers Boycott SXSW Festival Due to Defense Sponsors over Gaza Conflict

Over 80 artists boycotted the SXSW festival in the U.S., protesting sponsorships from arms manufacturers linked to Israel's actions in Gaza, under the organization of the Austin for Palestine Coalition. Highlighting the protest, artists like Ella Williams and BeatStars' Ibrahim Batshon called out sponsors Raytheon and BAE Systems. Texas Governor Greg Abbott's response, "If you don't like it, don't come here," sparked further controversy.

🔄 Eric Kendricks Chooses Cowboys Over 49ers, Sources Confirm

Eric Kendricks pivoted from a deal with the 49ers to a one-year contract with the Dallas Cowboys, reuniting with Mike Zimmer, his former coach. Kendricks, with over 100 tackles in most seasons, fills a significant void in the Cowboys' linebacker corps, aggravated by injuries. His choice for Dallas, under Zimmer's scheme, underscores a strategic strengthening of their defense.

🏈 Titans Secure WR Calvin Ridley with $92M Four-Year Deal, Acquire QB Mason Rudolph

Calvin Ridley's unexpected move to the Tennessee Titans with a four-year, $92 million contract shocked the NFL, diverging from an anticipated return to the Jacksonville Jaguars. His decision, sparked by broader market interest, notably boosts the Titans alongside signings like quarterback Mason Rudolph and kicker Nick Folk. This strategic overhaul signifies a fresh era for Tennessee, underscored by Ridley's free agency "audible."

OTHER NEWS

🌟 Paul Alexander, Known as 'The Man in the Iron Lung,' Passes Away at 78

Paul Alexander, who lived over 70 years in an iron lung after contracting polio at age 6, passed away at 78. Despite his condition, he became a successful lawyer and author. His resilience was showcased in a 2022 interview by Christopher Ulmer, where Alexander said, "I enjoyed the struggle...the challenges...the people." A fundraising campaign supported his final years, leaving a legacy of inspiration.

📉 Survey Reveals Almost 50% of Young Adults Experience 'Money Dysmorphia': Symptoms Explained

"Money dysmorphia," affecting 29% of Americans, particularly Gen Z and millennials, stems from social media's portrayal of wealth, making people feel financially inadequate despite rising household net worths. Coined by Credit Karma, this phenomenon highlights a distortion in financial self-perception, with only 14% feeling wealthy. Experts suggest setting boundaries on social media and spending to counteract dissatisfaction and the pursuit of material happiness.

THIS DAY THAT YEAR

On 14 March, 2018, English theoretical physicist Stephen Hawking, renowned for his contributions to the physics of black holes and his book "A Brief History of Time: From the Big Bang to Black Holes" (1988), passed away at the age of 76.

Thanks for scrolling with us! 

Catch up on what you missed by checking out our past issues here. And if you’re in the mood for more bite-sized, 60 words content nuggets? Check out our other daily newsletter.

Marketing Scroll: Get all the Marketing news that truly matters delivered to your inbox in 60-word quick reads, giving you everything in under 3 minutes a day! 

Want to share Daily Scroll with a Pal? Forward this email and invite them to join our community of savvy scroll-ers.

We'd love to hear your feedback on today's issue of Daily Scroll! Simply reply to this email and share your thoughts on how we can improve our content and format. 

Have a great day and we will be back Tomorrow🕺