Shoppers pile on BNPL debt

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BUSINESS & ECONOMY

🛍️ US Holiday Spending on Buy Now, Pay Later Set to Soar as Shoppers Accumulate Debt

U.S. shoppers are projected to spend $18.5 billion through buy now, pay later (BNPL) services during the holiday season, an 11.4% rise from last year, largely driven by consumers managing increasing debt. BNPL growth is outpacing overall holiday spending, which is expected to grow by 8.4%. Delicia Hand, Director of Financial Fairness stated, “Interest charges compound the debt.” 

🏠 Mortgage Refinance Demand Soars 20%

Mortgage refinance applications surged 20% last week, propelled by a drop in the average interest rate for 30-year fixed-rate mortgages to 6.13%, marking a staggering 175% increase compared to last year. The refinance share of applications climbed to 55.7%. Joel Kan, MBA’s deputy chief economist, stated, “Lower rates led to sharp increases in refinance applications.” 

TOGETHER WITH ROKU

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WORLD

💪 Netanyahu Vows Full Force Until Northern Residents Return

Israeli Prime Minister Benjamin Netanyahu pledged on Wednesday to return tens of thousands of residents from northern border areas to their homes amid escalating tensions with Hezbollah in Lebanon. He emphasized the need for security as Israel increases its military presence along the northern border. He stated, “We will return the residents of the north securely to their homes.”

🕊️ US and Allies Urge 21-Day Ceasefire at Israel-Lebanon Border

The US, joined by allies including Australia and the EU, called for a 21-day ceasefire on Wednesday during the UN General Assembly to address escalating tensions along the Israel-Lebanon border, seeking to avert a wider conflict and facilitate negotiations between Israel and Hamas. President Biden stressed the critical need for peace, stating, “It’s important this war not widen.”

🚀 Russia Establishes Covert Drone Program in China for Ukraine Conflict 

Russia has secretly partnered with China to produce long-range drones for the Ukraine war, intelligence sources reveal. IEMZ Kupol, a subsidiary of Almaz-Antey, has tested and scaled the Garpiya-3 (G3) drone with Chinese specialists. Despite China’s denial, NATO raised concerns, stating, "China must ensure its companies aren’t aiding Russia’s military efforts."

SCIENCE & TECH

🤖 Meta's AI Products Get a Boost in Intelligence and Utility

Meta has introduced new AI features at its Connect event, powered by Llama 3.2. Users can now interact with Meta AI via voice, get photo insights, and edit images on platforms like Messenger and Instagram while Businesses benefit from AI-driven customer engagement tools. Meta is also testing automatic translations for Reels and expanding AI-generated content in Facebook and Instagram feeds. 

👓 Meta Connect 2024: New Orion Glasses, Quest 3S Headset, and Ray-Ban Video Features!  

Meta has introduced new products at Connect 2024, featuring the Orion holographic AR glasses with hand and eye-tracking capabilities and a neural interface, though they remain unavailable for consumers while the Quest 3S headset, priced at $299, supports existing apps and enhanced mixed-reality experiences.Additonally Ray-Ban’s upgraded smart glasses now offer real-time AI video processing and reminder features. 

🌀 OpenAI's Chief Research Officer Departs After CTO Mira Murati's Exit

OpenAI’s Chief Research Officer Bob McGrew and VP of Research Barret Zoph departed the company, following CTO Mira Murati’s exit. CEO Sam Altman confirmed the resignations were independent and amicable but aligned with leadership transitions. McGrew left after eight years, citing a need for a break, while Zoph seeks new opportunities aligning with OpenAI’s restructuring and transition plans. 

SPORTS & ENTERTAINMENT

🌟 Sun Beat Fever, Advance to Semifinals, Closing Rookie Season for Caitlin Clark

Caitlin Clark’s rookie season is over as the Indiana Fever fell 87-81 to the Connecticut Sun, ending their first playoff run since 2016. Despite Clark’s 25 points, 9 assists, and 6 rebounds, the Fever’s rally fell short. Clark stated, Alyssa Thomas led the Sun with 19 points and 13 assists. “We fought hard, but they made key shots.”

🚨 Houston Woman Alleges Violent Rape by Sean 'Diddy' Combs and Bodyguard 

Thalia Graves, a Houston woman, is suing Sean "Diddy" Combs and his bodyguard, Joseph "Big Joe" Sherman, for allegedly drugging and raping her in 2001, claiming they filmed the assault in a Manhattan studio. Fearing retaliation, she didn’t report it. Graves seeks damages and the destruction of the video, stating, “The combination of physical and emotional pain has created a cycle of suffering.” 

OTHER NEWS

📰 Eric Adams Indicted in Federal Corruption Case

Eric Adams, New York City’s 110th mayor and former police captain, has been indicted following a federal corruption probe focused on potential illegal foreign donations from the Turkish government. The investigation also explores whether he pressured officials to approve a Turkish consulate project. Adams insists on his innocence, stating, “If I am charged, I am innocent, and I will fight this.”

🌀 Hurricane Helene: Projected to Hit Florida as a Category 4 Storm with Catastrophic Surge

Hurricane Helene is forecast to make landfall along Florida's Big Bend region on Thursday evening as a Category 4 storm. With winds up to 130 mph, it threatens catastrophic 20-foot storm surges, heavy rainfall, and flooding. Florida, Georgia, and the Carolinas have declared emergencies, with mandatory evacuations issued. Florida Gov. Ron DeSantis stated, “Be prepared for widespread power outages.”

👀 One in Three Kids Struggle with Distance Vision 

One in three children are now short-sighted, a concerning trend revealed by a global study. This condition has tripled since 1990, primarily due to increased screen time and decreased outdoor activities during Covid lockdowns warning that millions more could be affected by 2050. Daniel Hardiman-McCartney from the UK College of Optometrists stated, “There is something about being outside that is a real benefit to children.” 

THIS DAY THAT YEAR

On September 26th, 1960, the first-ever televised presidential debate aired, marking a historic moment in U.S. politics. An estimated 85 to 120 million viewers tuned in to watch Senator John F. Kennedy face off against Vice President Richard M. Nixon, setting a new precedent for how campaigns would engage with the public through television.

BRAIN TEASER

My voice is tender, my waist is slender and I'm often invited to play. Yet whereve

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

Here’s what Yeterday’s teaser was:

What never gets any wetter, no matter how much it rains?

The answer is: The sea.

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