National Insurance Crisis Worsens

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BUSINESS & ECONOMY

🌪️ Insurance Crisis Spreads Beyond Florida and California

An insurance crisis has led to soaring premiums and insurer withdrawals in Florida and California, fundamentally altering the real estate market nationwide. Hurricanes and wildfires, coupled with mounting natural disaster losses, drive this shift. Carriers are increasing rates, reducing risks, and limiting new business. Bill Baldwin of Boulevard Realty stated, “The inability to secure insurance at all makes deals fall through.”

📈 Bitcoin Poised for New All-Time High This Year

Bitcoin is projected to exceed its previous record high of $73,700 this year, according to a report by CCData. This prediction is based on historical trends, including post-halving price increases, and the recent surge in institutional interest through ETFs. The report notes that past cycles experienced substantial price growth several months after halving events, indicating a potential similar outcome this time.

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WORLD

🛡️ Israel Gears Up for Hezbollah Clash Amid Ongoing Hamas Conflict

Israel is preparing for a potential war with Hezbollah, an Iranian-backed Lebanese militia, as the conflict with Hamas continues. The Israeli military plans a phased pullout from Gaza, pushing for a truce with Hamas to focus on the Hezbollah threat. Hezbollah's extensive missile arsenal and battle-hardened fighters present a significant challenge. 

🇬🇷 Greece Adopts Six-Day Workweek, a First in the EU

Greece becomes the first EU country to introduce a six-day working week for some businesses, starting July 1, to boost productivity and employment. This regulation, part of a broader labor law, allows employees in 24/7 services to work up to 48 hours weekly. Critics argue it undermines workers' rights, despite government claims of it being "worker-friendly."

SCIENCE & TECH

📱 Apple Code Leak Reveals New Chip for All iPhone 16 Models

Apple's code leak reveals all four iPhone 16 models will feature the same A-series chip, a departure from the past practice of using different chips for standard and Pro models. The code, shared by Nicolás Alvarez, suggests the iPhone 16 lineup may include a fifth device, potentially an iPhone SE or Ultra, to support Apple Intelligence requiring powerful processors.

🌍 Google's Emissions Up 50% in 5 Years from AI Energy Demand

Google’s greenhouse gas emissions have surged nearly 50% over the past five years, driven primarily by the energy demands of data centers needed for AI products. The company's annual environmental report reveals a 13% rise in emissions from 2022 to 2023, reaching 14.3 million metric tons. This increase jeopardizes Google's ambitious goal of achieving net-zero emissions by 2030. 

SPORTS & ENTERTAINMENT

📰 Robert Towne, 'Chinatown' Screenwriter, Dies at 89

Robert Towne, the Oscar-winning screenwriter behind “Chinatown,” died at 89 in his Los Angeles home. Renowned for his impactful dialogue and significant contributions to Hollywood, Towne's accolades include an Academy Award and nominations for “The Last Detail” and “Shampoo.” His death was confirmed by his publicist, Carri McClure. 

🏀 Kemba Walker, 4-Time NBA All-Star, Retires from Basketball

Four-time NBA All-Star and NCAA champion Kemba Walker retires at 34. After 12 NBA seasons with the Hornets, Celtics, Knicks, and Mavericks, and a final stint with EuroLeague's AS Monaco, Walker is stepping away due to a lingering knee injury. Reflecting on his career, Walker stated, "It's time to move on to the next chapter." 

🏅 Trans Runner Nikki Hiltz Makes U.S. Olympic Team with 1,500m Win

Nikki Hiltz, a transgender runner, qualified for the 2024 U.S. Olympic team after winning the women's 1,500-meter final with a record-breaking time of 3:55.33 at the U.S. Olympic track & field trials. This victory marks Hiltz's first trip to the Olympics. Hiltz stated, "I wanted to run this for my community.”

OTHER NEWS

🔥 Biden Unveils Rule to Shield 36M Workers from Extreme Heat

President Joe Biden proposes a new rule to protect 36 million U.S. workers from extreme heat. The rule, aiming to mitigate heat-related injuries, requires employers to identify heat hazards, implement emergency response plans, and ensure proper training. Biden emphasized, "More people die from extreme heat than floods, hurricanes, and tornadoes combined.”   

😴 Biden Blames Jet Lag for Poor Debate, Says He Nearly “Fell Asleep On Stage”

President Joe Biden attributed his underwhelming debate performance to fatigue from extensive international travel. He cited a recent trip to France and acknowledged not heeding staff advice to rest. While explaining his condition, Biden emphasized, "It's not an excuse but an explanation," and reiterated the critical importance of securing an election victory.

⚖️ Trump Sentencing in Hush Money Case May Be Delayed

Donald Trump’s 11 July sentencing in the hush money case might be delayed. His lawyers requested the judge to reconsider his conviction following a Supreme Court ruling on presidential immunity. Manhattan prosecutors, while opposing the motion, do not object to the delay while the judge's response is expected by 24 July, Trump's lawyer stated, "The verdicts in this case violate the presidential immunity doctrine." 

THIS DAY THAT YEAR

On July 3rd, 1856, President Franklin Pierce denounced the Topeka government as rebellious and pledged his support to the proslavery Kansas government. However, on the same day, the House of Representatives voted to admit Kansas as a state under the anti-slavery Topeka Constitution.

BRAIN TEASER

You’ll find me in scarves, sweaters and mittens and even in the paws of playful cats and kittens. What am I?

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

Here’s what Friday’s teaser was:

Two in a corner, 1 in a room, 0 in a house, but 1 in a shelter. What am I?

The answer is: The letter ‘R’

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