Record Drop In Mortgage Rates!

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🏡 Record Drop in Mortgage Rates as Inflation Eases

U.S. mortgage rates experienced their largest decline since March, with the 30-year loan average dropping to 6.78% due to cooled inflation. Despite this, Freddie Mac's chief economist, Sam Khater, highlights a persisting shortage of homes for sale. As rates continue to be high, experts predict they won't fall below 6% until after 2023, posing challenges to potential sellers who secured low rates during the pandemic.

📉 U.S. Indicators Predict Impending Recession

U.S. Leading Economic Index (LEI), tracking business cycles, fell for the 15th consecutive month, suggesting an approaching recession, says The Conference Board. June saw a 0.7% decrease in LEI, largely due to a dim consumer outlook and rising unemployment claims. "Elevated prices, tighter monetary policy, harder-to-get credit, and reduced government spending are poised to dampen economic growth further," warned Justyna Zabinska-La Monica, the board's senior manager.

🌍 New U.S. Sanctions Limit Russian Battlefield Supplies for Ukraine War

The U.S. has imposed sanctions on nearly 120 Russian entities, aiming to curb Moscow's access to battlefield supplies in its war against Ukraine. Deputy Treasury Secretary Wally Adeyemo said these actions are part of U.S. efforts to "constrain Russia’s military capabilities." The sanctions also target Russia's revenue from the metals and mining sector and aim to diminish its future energy capabilities and access to the international financial system.

💶 EU Proposes $22bn Four-Year Weapon Aid for Ukraine

EU has proposed a $22bn, four-year fund for Ukraine's defense against Russia. "We propose the creation of a dedicated section on the European peace facility to provide up to five billion euros a year for the next four years for the defense needs of Ukraine," said Josep Borrell, EU's foreign policy chief. However, Hungary's opposition could delay the final approval until late 2023. Hungary continues to block current aid funds over a banking dispute.

📱 Apple to Withdraw iMessage, FaceTime in the UK over Encryption Issue

Apple has warned it may remove apps like iMessage and FaceTime from the UK market if legislation requiring backdoors in end-to-end encryption is passed. Apple and other services, including WhatsApp and Signal, have opposed the Online Safety Bill currently under review. Apple insists it won't implement changes that could weaken security for all users, even if it means disabling key services in the UK.

🖥️ Musk's $1bn Investment in 'Dojo' A.I. Supercomputer Due to Nvidia Chip Shortage

Elon Musk plans to invest over $1 billion in building an AI supercomputer, 'Dojo', due to a shortage of Nvidia's advanced A100 tensor core GPU clusters. Tesla needs these chips for training its Full Self-Driving software and Optimus humanoid robots. Musk noted, "If they could deliver us enough GPUs, we might not need Dojo." Tesla aims to achieve an in-house compute capability of 100 exaFLOPS by next year.

🎭 Striking Actors in Chicago Rally, Drawing Cross-Union Support

Over 1,000 SAG-AFTRA members and supporters marched in Chicago, rallying for better contracts, wages, and healthcare. The strike gained cross-union support, including the Writers Guild of America and the Teamsters, along with the Illinois legislature's labor committee chairmen. Sydney Charles, known for roles in "Shameless" and "The Chi," highlighted the strike's significance for all actors, stating, "Our quality of life as laborers and artists is being threatened."

🏈 $60M Fine for Commanders' Dan Snyder Post-Investigation

NFL fined former Washington Commanders owner Dan Snyder $60 million, following an independent investigation that found him guilty of sexually harassing a team employee and withholding team revenue from the NFL. The fine came as the league approved the sale of the Commanders for $6.05 billion. The investigations led by attorney Mary Jo White discovered misconduct in both sexual harassment and financial irregularities, with lawyer Lisa Banks declaring the report as an "utter vindication" for the involved whistleblowers.

🛒 Walmart Introduces Half-Priced Walmart+ Assist for Government Aid Recipients

Walmart has announced a program called Walmart+ Assist, which offers customers who are on government assistance 50% off on a monthly or annual Walmart+ paid membership plan. The membership includes benefits like free shipping, grocery delivery, nationwide gas discounts, and video streaming with Paramount+. The program is available to all eligible new and existing members who can sign up and verify their eligibility through the Walmart website.

📚 Critics Call Florida's New Black History Curriculum 'Sanitised'

Florida's updated public school curriculum for teaching African American history has sparked controversy. Critics claim the "sanitised" guidelines, which require students to learn "how slaves developed skills which, in some instances, could be applied for their personal benefit," represent "a big step backward." The Florida Education Association's president, Andrew Spar, warned the changes risk cheating students of a "full, honest picture" of history, while the NAACP criticized the "dishonest telling of the history of slavery in America."

⚖️ Missouri Supreme Court Denies AG's Attempt to Overturn Abortion Vote

Missouri Supreme Court ruled that Republican Attorney General Andrew Bailey must comply with a lower court order to certify a proposed ballot initiative asking voters about restoring abortion rights. Bailey has "no discretion" to add his own cost opinion to the proposed constitutional change, the court said. Bailey's delay meant plaintiff Anna Fitz-James has already lost time to gather signatures for a 2024 vote. The American Civil Liberties Union (ACLU), representing Fitz-James, called the ruling a win for direct democracy.

🗳️ GOP Centrists Reject Trump's Impeachment Expungement; McCarthy Denies Deal

House Republican centrists have voiced skepticism or outright opposition to any attempt to symbolically rescind Donald Trump's impeachments, a move proposed by staunch Trump supporters Elise Stefanik and Marjorie Taylor Greene. House GOP Leader Kevin McCarthy has denied making a deal with Trump to attempt to expunge the impeachments. Rep. Don Bacon stated, “It doesn’t make sense to me. Because if you’re found not guilty, what do we expunge? We should be moving forward, not backwards.”

Brrr, it's a cold one! On this day in 1983, Antarctica was colder than a penguin's freezer at -89.2 °C (-128.6 °F), making it the Lowest temperature recorded on Earth. It's a stark contrast to this year where we're practically baking cookies on our dashboards, the globe's so hot. Time for an ice-cold reality check!

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