Housing Market Breaks Records Again

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BUSINESS & ECONOMY

🏠 US Home Prices Reach All-Time High in June 

US home prices reached an all-time high in June, with the S&P CoreLogic Case-Shiller National Home Price Index rising 0.2%, surpassing May’s 0.3% increase. Annually, prices grew by 5.4%. The 20-city index also hit a new peak, with a 6.5% yearly rise. Brian Luke of S&P Dow Jones Indices stated, “The gap between home prices and inflation is larger than historical norms.”

🙂 Consumer Confidence in the US Rises in August with Growing Optimism

U.S. consumer confidence rose to 103.3 in August, up from 101.9 in July, driven by improved short-term expectations for income, business, and jobs. The current conditions index also increased to 134.4. Despite this uptick, concerns linger due to slowing job growth and inflation. Dana Peterson, Conference Board’s chief economist stated, “Consumers’ assessments of the labor market going forward were more pessimistic.”

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WORLD

📜 Biden Greenlights Gaza Pier Amid Internal Pushback

President Joe Biden approved the establishment of a floating military pier for delivering humanitarian aid to Gaza despite internal U.S. government warnings about potential risks, including rough seas and security concerns. The USAID watchdog found that this decision detracted from efforts to open more efficient land routes. The pier, costing $230 million, faced multiple setbacks and was ultimately decommissioned after just 20 days of operation. 

🌊 UN Chief Warns of "Oceans Overflowing

UN Secretary-General António Guterres warned on Tuesday that rising sea levels will soon become "unimaginable," posing a severe threat to Pacific Island nations. Speaking at the Pacific Islands Forum in Tonga, Guterres highlighted the alarming acceleration of sea level rise, noting impacts like intensified storm surges stating, "The ocean is overflowing; rising seas are a crisis entirely of humanity's making." 

SCIENCE & TECH

🚀 SpaceX Delays Polaris Dawn Mission for Record Spacewalk Again

SpaceX has again postponed the Polaris Dawn launch, initially set for Wednesday, due to poor weather at the splashdown site. This follows a prior delay caused by a launch pad issue. The mission, featuring the first commercial spacewalk, will test new spacesuit technology. Mission commander Jared Isaacman stated, "We must be absolutely sure of reentry weather before launching." 

💧 OpenAI, Adobe, and Microsoft Back California's AI Watermark Bill

OpenAI, Adobe, and Microsoft support California's AB 3211, which mandates watermarks in metadata for AI-generated photos, videos, and audio. This bill aims to make AI content easily identifiable for the public. The tech giants, part of the Coalition for Content Provenance and Authenticity, have now endorsed the bill after recent amendments. The final vote is in August. 

SPORTS & ENTERTAINMENT

🏈 NFL Greenlights Private Equity Investment for the First Time

The NFL has approved a policy change allowing private equity firms to invest in up to 10% of individual teams enabling teams to sell minority stakes, attracting major firms like Ares Management and Arctos Partners. Investors must commit at least $2 billion, with a total expected investment of $12 billion to enhance franchise values and provide capital options for team owners. 

🎾 Naomi Osaka Secures First Top 10 Win in 4+ Years, Advances to US Open 2nd Round

Naomi Osaka achieved her first top 10 win in over four years with a dominant 6-3, 6-2 victory over No. 10 Jelena Ostapenko in the US Open first round on Tuesday. Ranked No. 88, Osaka showcased impressive form, hitting 19 winners and nine aces. Reflecting on her return, she said, “Just to win this match and just to be in this atmosphere means so much to me.”

OTHER NEWS

📰 Trump Faces New Criminal Charges in 2020 Election Case

Special Counsel Jack Smith has filed an updated indictment against Donald Trump, focusing on charges of conspiracy to defraud the U.S., obstructing an official proceeding, and violating voters' rights. This revision follows a Supreme Court ruling on presidential immunity. Trump dismissed the indictment as “absurd,” insisting it won’t affect his 2024 campaign, and stated, “The people will see through these baseless charges.”

🎙️ Harris Campaign Denies Trump’s Hot Mic Agreement Claim for Sept. 10 Debate

Vice President Kamala Harris’ campaign rejected Donald Trump's claim that both sides agreed to muted microphones for the Sept. 10 debate. The campaign stated that the debate terms, including the use of unmuted mics, are still under negotiation with ABC. The Harris campaign stated “Trump is letting his handlers overrule him.”

📰 Zuckerberg Claims White House ‘Pressured’ Meta to Censor Covid-19 Content

Mark Zuckerberg, on August 26, 2024, revealed that in 2021, Meta faced pressure from the Biden administration, including the White House, to limit certain Covid-19 content, such as satire. He expressed regret for not pushing back more forcefully, stating, “With hindsight, we would have made different choices.” While Meta confirmed the letter’s authenticity, the White House maintained that its actions were aimed at ensuring public safety during a critical time.

THIS DAY THAT YEAR

On August 28th, 1963, approximately 200,000 people gathered in Washington, D.C., marking a pivotal moment in the civil rights movement. The historic March on Washington is especially renowned for Martin Luther King, Jr.'s iconic “I Have a Dream” speech, which resonated deeply and left an enduring impact on the fight for racial equality.

BRAIN TEASER

What can be held without hands but has to be let go?

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

Here’s what Yesterday’s teaser was:

A girl fell off a 20-foot ladder. She wasn’t hurt. How?

The answer is: She fell off the bottom step.

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