Gold Hits $1M Milestone

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

🏅 Gold Bar Hits $1 Million Milestone

Gold bars hit $1 million for the first time as prices exceeded $2,500 per ounce. This milestone reflects a 20% increase this year, driven by Federal Reserve rate cut expectations and substantial central bank purchases, with China being a major buyer. Citi’s Aakash Doshi stated, “Gold could reach $2,600 per ounce by year-end and $3,000 by mid-2025.”

📉 Fed Minutes: Most Officials Support September Rate Cut If Inflation Slows

Minutes from the Fed’s July 30-31 meeting, released Wednesday, showed most policymakers expect a potential rate cut in September if inflation data remains steady. The current 5.3% rate could be lowered to boost economic activity. Raphael Bostic, President of the Atlanta Fed, stated, “We might need to shift our policy stance sooner than anticipated.”

📉 US Employment Drops by 818,000 in Latest Revision

The US Bureau of Labor Statistics revised March 2024’s employment figures down by 818,000, with 358,000 fewer jobs in professional and business services and 150,000 fewer in leisure and hospitality. Monthly job additions dropped from 242,000 to 174,000. Omair Sharif, President of Inflation Insights, said, “Despite this significant downward revision, the growth rate remains robust.”

TOGETHER WITH RELAY

Unlock Cash Flow Clarity: Watch Our Expert Webinar Now!

Struggling with cash flow? We understand. Delayed payments, irregular expenses, and seasonal income can wreak havoc on your financial plans. But what if you could turn that chaos into confidence?

Relay recently hosted a webinar, Business Budgeting Strategies to Unlock Cash Flow Clarity, with Certified Profit First Professional James Masotti. Now, you can access the recording and learn to master the art of budgeting, gain crystal-clear clarity on your cash flow, and secure the long-term financial health of your business.

Watch the recording today!

WORLD

🌏 India Balances Ties with Ukraine Amidst Russian Scrutiny

India's Prime Minister Narendra Modi is set to visit Ukraine on Friday, the first such visit in over 30 years. The trip, requested by President Zelenskyy, aims to enhance Ukraine ties while managing India’s relationship with Russia. Modi’s visit highlights India’s complex diplomatic position amid the ongoing conflict. Modi emphasized, “Innocent lives lost in conflict are deeply painful; humanity suffers deeply in war.”

📉 PwC Faces 6-Month China Ban Over Evergrande Audit

PwC is braced for a six-month ban in China, set to begin in September, after failing to catch Evergrande’s $80bn revenue inflation. This unprecedented penalty will bar PwC from approving financial statements and IPOs, disrupting its operations. With mounting regulatory pressure, PwC has already lost two-thirds of its mainland-listed clients, highlighting the severe fallout from this audit oversight.

SCIENCE & TECH

🔥 New iPhone Chip Could Stop Overheating

The iPhone could soon incorporate xMEMS' XMC-2400 µCooling chip, a 1mm-thick solid-state fan designed for ultra-thin devices. This chip uses ultrasonic modulation to cool components like APUs and GPUs, enhancing performance and reducing overheating. Its compact, dust-resistant design is suitable for smartphones, tablets, and other slim gadgets. Expected to launch in early 2025, it offers efficient cooling without moving parts.

🚀 Meta's New Web Crawler Quietly Scrapes Internet for AI Data

Meta has quietly unleashed the Meta External Agent, a new web crawler launched last month to harvest vast amounts of publicly available data for AI training. This bot, similar to OpenAI’s GPTBot, scrapes website content like news articles and discussions. Although Meta hasn't formally announced it, the crawler plays a key role in enhancing their Llama AI model. 

SPORTS & ENTERTAINMENT

🚨 Beyoncé Issues Cease-and-Desist Threat Over Trump’s ‘Freedom’ Video

Beyoncé has threatened legal action against Donald Trump's campaign after they used her song "Freedom" in a video without permission. The clip, posted by Trump spokesperson Steven Cheung on Aug. 20, featured the track as former President Trump disembarked a plane. Beyoncé’s team is considering a cease-and-desist due to unauthorized use.

🏀 Golden State Legend Al Attles Passes Away at 87

Al Attles, the legendary Golden State Warrior and Basketball Hall of Famer, passed away at 87 in Oakland. Known for his fierce defense and leadership,Attles led the Warriors to the 1975 NBA Championship and served as coach, general manager, and ambassador. Wayne Embry, the NBA's first Black general manager, honored Attles stating, "Attles was always there, a true protector on and off the court.”

OTHER NEWS

💰 Harris' Fundraiser Quadruples Trump's July Haul

Kamala Harris’ campaign raised $204 million in July, surpassing Donald Trump's $48 million by $156 million. Harris’ total includes over $60 million from the first days of her candidacy. She also outspent Trump by $81 million to $24 million. Combined, Harris and the Democratic Party raised $310 million, while Trump and the Republicans raised $138 million.

🎉 Walz Brings 'Joy' to National Stage with DNC Introduction

Minnesota Gov. Tim Walz, Kamala Harris’ running mate, made a powerful debut at the DNC, emphasizing "bringing the joy" to a pivotal election. Highlighting his Midwestern roots, Walz declared, "We love this country," and criticized Trump’s policies, stating, "While others ban books, we banish hunger." His emotional speech resonated, with his son Gus tearfully mouthing, "That’s my dad."

🛥️ British Tech Entrepreneur Mike Lynch’s Body Found in Sicily Yacht Wreck

British tech entrepreneur Mike Lynch was found among the five deceased after the Bayesian superyacht sank near Porticello, Sicily, on Monday. The yacht, which capsized while anchored off Palermo, had 22 passengers onboard. By Wednesday, Italian authorities had recovered Lynch’s body, with his daughter, Hannah, still unaccounted for. The tragedy comes shortly after Lynch’s recent acquittal in a major fraud case.

THIS DAY THAT YEAR

On August 22nd,1642, the English Civil Wars officially commenced as King Charles I defied Parliament by raising an army. While his stated aim was to suppress a rebellion in Ireland, this bold move against Parliament's authority marked the beginning of a conflict that would reshape the nation’s political landscape.

BRAIN TEASER

I'm not a blanket, yet I cover the ground; a crystal from heaven that doesn't make a sound. What am I?

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

Here’s what yesterday’s teaser was:

If there are four sheep, two dogs, and one herds-men, how many feet are there?

The answer is: Two. Sheep have hooves; dogs have paws; only people have feet.

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 see you Tomorrow🕺