Samsung profit plunged 94%

Hey there scroller 🤳

Ready for another day’s headstart with some fresh news?

What’s Hot? Twitter is threatening to sue Meta, alleging its new app, Threads, used stolen trade secrets and intellectual property. Twitter's lawyer Alex Spiro accused Meta of employing ex-Twitter staff to create a "copycat" app. Meta denies these accusations. Since Elon Musk's acquisition, Twitter has faced user attrition, presenting a possible opportunity for Meta.

If your pal sent this to you, then subscribe to stay the most informed person in the room😉

💼 Samsung's Profits Dive 96% in Q2 

Samsung Electronics foresees a 96% profit plunge in Q2 2023, marking its lowest profit since Q1 2009, due to sustained weak memory chip demand. SK Kim of Daiwa Securities stated, "We assume that there's some meaningful adjustment in inventory, in the supply, and the price can rebound the end of this year or early next year." Surplus inventory and uncertain Chinese demand pose challenges.

🍔 Uber & Co. Challenge NYC's Minimum Pay Law

Uber, DoorDash, and Grubhub are suing New York City over a new minimum wage law for food delivery workers. The companies allege poor data usage in wage calculations, suggesting raised costs will hurt local restaurants and consumers. The law requires a pay of about $18/hour, increasing to $20 by 2025. Commissioner Vilda Vera Mayuga defended the standard, stating, "Delivery workers, like all workers, deserve fair pay for their labor," amid growing tension over gig worker compensation.

🌍 IAEA Backs Fukushima Water Release Plan

Rafael Grossi, head of the International Atomic Energy Agency, has defended the organization's approval of Japan's plan to release treated radioactive water from the 2011 Fukushima disaster into the ocean, calling it "scientifically impeccable." South Korea has also backed the plan, based on independent reviews and the IAEA's report, but will maintain a ban on Fukushima region food and seafood products. Meanwhile, China will tighten scrutiny on Japanese food imports.

☢️ Zelenskyy Warns of Possible Russian Sabotage at Nuclear Plant

Ukrainian President Volodymyr Zelenskyy has warned that Russia might sabotage the Zaporizhzhia Nuclear Power Plant, Europe's largest, to stall Ukrainian advances. He suggested that the plant might have been mined by Russia for a potential false-flag operation. The International Atomic Energy Agency has not confirmed these claims but called for increased access to the facility. The American Nuclear Society does not anticipate "radiation-related health consequences to the public."

💻 Google Holds Off on Docs Mining; G/O Media Dives into AI

Despite rumors that Google plans to data mine Docs to train its AI, Google Bard, the situation appears to be opt-in through Google Labs. However, terms of service can change, and as AI becomes more prevalent, it's likely Google and Microsoft may update their terms to include AI permissions. Critics argue real progress in AI won't occur until significant advances in machine intelligence are made.

🧪 Alzheimer’s Drug Leqembi Now Widely Available Following Federal Decisions

FDA granted full approval to Alzheimer's drug Leqembi, making it the first Alzheimer's medication to receive full approval in two decades. However, the FDA also added a black-box warning about the drug's potential to cause "serious and life-threatening events". Despite this, Medicare announced it would cover most of the drug's high cost, paving the way for its widespread use. Although the drug can modestly slow cognitive decline, experts warn it carries significant safety risks.Sports and Entertainment

⚾️ Diamondbacks' Carroll Suffers Shoulder Injury

Corbin Carroll, Arizona Diamondbacks' rookie sensation, exited Thursday's game against the New York Mets with a shoulder injury. Carroll, who underwent surgery on the same shoulder in 2021, was visibly in pain following a swing. Manager Torey Lovullo shared that initial tests showed the shoulder's strength and stability were fine. If Carroll's injury is serious, it could impact his participation in the upcoming MLB All-Star Game.

🎤 Spears-Wembanyama Vegas Incident Explained

Victor Wembanyama, a recent draft pick for the San Antonio Spurs, has confirmed an incident involving pop star Britney Spears. A member of Wembanyama's security team allegedly slapped Spears at the Aria Hotel in Las Vegas. Wembanyama claimed Spears grabbed him, prompting his security to intervene. Spears contradicts this, asserting she simply tapped Wembanyama on the shoulder. She has called for a public apology from Wembanyama, the Spurs, and their security.

🥪 Subway Slammed for 'Distasteful' Titan Implosion Sign

A Subway franchise in Rincon, Georgia faced backlash over a sign reading "Our subs don’t implode", seen as a reference to the recent Titan submersible tragedy where five people died. The sign was criticized as disrespectful and distasteful by the public. Subway stated they were aware of the situation, had contacted the franchise, and the sign has since been removed.

🌬️ Massive Offshore Wind Farm Greenlit in New Jersey

US Bureau of Ocean Energy Management has approved New Jersey's first offshore wind energy project, Ocean Wind 1. Expected to power up to 500,000 homes and create over 3,000 jobs, the project is the largest of its kind in the US. Developed by Danish firm Ørsted, the wind farm will comprise nearly 100 turbines and is set to begin commercial operations in 2025.

🌀 'Hyperactive' Hurricane Season Predicted

Colorado State University forecasters have increased their 2023 hurricane predictions, anticipating a "borderline hyperactive" season with up to 18 storms in the Atlantic basin. The heightened activity, including nine hurricanes, is linked to record warm ocean temperatures in the eastern and North Atlantic. Risks include a 50% chance of a major hurricane making landfall on the continental U.S. coastline. The current conditions echo the notorious 2005 season, which saw the devastating Hurricane Katrina.

On this day in 1981, Indian cricketing legend M.S. Dhoni was born. Known worldwide for his cricketing prowess, Dhoni enjoys a vast global following, boasting over 44 million followers on Instagram. His significant contribution to the sport has marked him as a celebrated figure in international cricket.

Thanks for scrolling with us🤳

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 🕺