Recession Preferred Over High Inflation

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BUSINESS & ECONOMY

💸 Fed Chief: Recession Preferred Over High Inflation

Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, stated that consumers prefer a recession over high inflation. He shared insights from discussions with labor groups, emphasizing that high inflation impacts everyone, leaving no safety net among friends and family. Kashkari quoted a labour leader "Inflation is worse than a recession."

💡U.S. home energy bills are expected to rise nearly 8% this summer 

Americans will pay more to cool their homes due to rising temperatures this summer. The average cost is expected to increase by 8%, from $661 to $719 as people will be using their air conditioners more often. Some regions will see an even higher increase of 12%. This will disproportionately impact low-income families who may not be able to afford to cool their homes.

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WORLD

🎉 Claudia Sheinbaum Becomes Mexico's First Female President

Claudia Sheinbaum has been elected as Mexico's first female president, marking a historic moment in the country's 200-year history. Sheinbaum, a climate scientist and former mayor of Mexico City, won decisively against her opponents. Sheinbaum declared, "I will become the first woman president of Mexico."

📜 Islamabad Court Overturns Imran Khan's Conviction in Secrets Leak

An Islamabad court has annulled the 10-year prison sentence of former Prime Minister Imran Khan and his aide, ex-Foreign Minister Shah Mahmood Qureshi, linked to the leaking of state secrets. Despite this, Khan remains incarcerated due to another conviction. Qureshi's release status is uncertain. The alleged conspiracy theory remains contested with denials from both Washington and Pakistan's military.  

🇪🇺 Europe Poised for Most Right-Wing Parliament Ever

Europeans may vote for 720 European Parliament members from June 6 to 9, with over 400 million eligible voters across the EU’s 27 member states. Far-right, populist parties are poised for significant gains, driven by rising Euroskepticism and populist sentiment. Tim Adams, president and CEO of the Institute of International Finance, said, “This might result in the most right-wing European Parliament in history.”

SCIENCE & TECH

🚀 AMD Unveils AI Chips to Rival Nvidia

Advanced Micro Devices Inc (AMD) launched new AI chips, including the MI325X accelerator and the upcoming MI350 series, at Computex 2024 to compete with Nvidia's dominance in the AI chip market. These chips, set for release between 2024 and 2025, aim to enhance AI development in laptops and desktops. 

📱 Apple's iPhone 16 Pro to Feature Slimmest Bezels Ever

Apple's iPhone 16 Pro is rumored to feature the world's thinnest bezels, breaking records for smartphone design. Leaker "Ice Universe" claims Apple will use Border Reduction Structure (BRS) technology to achieve this feat, despite past production challenges and heat dissipation issues. The iPhone 16 Pro Max is also expected to benefit from this ultra-thin bezel design.

SPORTS & ENTERTAINMENT

🎤 Kanye West's Ex-Assistant Accuses Him of Sexual Harassment

Kanye West's former assistant, Lauren Pisciotta, has filed a lawsuit accusing him of sexual harassment. Hired in 2021, she claims West sent explicit messages and masturbated in front of her during a flight. Pisciotta, who had a $1 million annual salary and significant social media earnings, alleges West's behavior was persistent and offensive. She stated, "He would boast to friends that I was an 'OnlyFans Superstar." 

🎥 MrBeast Tops YouTube Subscriptions

MrBeast becomes the platform's most subscribed channel surpassing the long-reigning Indian music channel T-Series, MrBeast, whose real name is Jimmy Donaldson, claimed the crown following years of subscriber growth fueled by his extravagant content. Celebrating the win with a playful nod to PewDiePie MrBeast declared on X, "After 6 years we have finally avenged Pewdiepie." 

⚽ Real Madrid Signs Kylian Mbappe on Free Transfer

Real Madrid signed France's Kylian Mbappe on a free transfer after his PSG contract expired. The 25-year-old forward joins on a five-year deal, starting in July. Real Madrid announced the signing on Monday, ending a prolonged transfer saga. Mbappe expressed his joy, calling it “a dream come true.” 

OTHER NEWS

🔥 Scorching Triple-Digit Heat to Threaten Millions in the West This Week

A dangerous heat wave is set to grip the West this week, bringing life-threatening triple-digit temperatures due to a high-pressure system causing temperatures exceeding 110 degrees in Phoenix and Las Vegas by midweek. Death Valley could see highs of 118 degrees. The heat wave is expected to be most severe on Wednesday and Thursday but could linger into the weekend.  

🛂 Biden to Issue Order Tightening Asylum Process on Tuesday

President Biden is expected to issue an executive order on Tuesday to partially shut down asylum processing along the U.S.-Mexico border. The order will allow quick deportation of migrants who enter illegally when border crossings exceed 2,500 daily. Asylum processing at ports of entry will continue, and unaccompanied children are exempt. 

🔞 X Updates Rules to Permit Adult Content

X, formerly Twitter, has officially updated its rules to allow adult content. Users can now post consensually produced NSFW content, provided it is clearly labeled. This includes AI-generated images and videos to support sexual expression while ensuring minors and those opting out are protected from exposure. 

THIS DAY THAT YEAR

On June 4th, 1940, following a remarkable rescue effort that saw the involvement of numerous civilian boats, the withdrawal of Allied troops trapped at Dunkirk, France, was successfully completed. This heroic operation, which occurred during World War II, saved more than 300,000 soldiers from imminent capture.

BRAIN TEASER

What gets smaller every time it takes a bath

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

Here’s what yesterday’s teaser was:

There is a word of three letters. But add two more and the fewer it gets. What word is it

The answer is: Few

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