Small Business Sentiments Surge

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BUSINESS & ECONOMY

📈 US Small Business Sentiment Hits 6-Month High in June

US small-business confidence hit a six-month high in June, with the NFIB Small Business Optimism Index climbing 1 point to 91.5. Despite this, it remains below the 50-year average due to ongoing inflation worries. Notably, 22% plan to raise worker compensation, while 27% increase selling prices. NFIB Chief Economist Bill Dunkelberg stated, "Demand is still too strong to trigger widespread price reductions."

 🛠️ Yellen Agrees: Labor Market Now Less Inflationary

Treasury Secretary Janet Yellen stated that the labor market is no longer significantly driving inflation, echoing Federal Reserve Chief Jerome Powell. She noted the post-COVID rebound led to a less tight labor market due to increased labor supply. Powell mentioned cooling job numbers might lead to interest rate cuts. Yellen stated, "We now have a strong labor market with fewer pressures."

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WORLD

🚫 Feds Shut Down Russian AI Bot Farm Spreading Lies

Federal prosecutors dismantled a Russian "bot farm" that used AI to spread pro-Putin disinformation, targeting the U.S. and other countries, the Department of Justice revealed. Operatives created nearly 1,000 fake social media accounts, posing as Americans. The crackdown involved the FBI, U.S. Cyber Command, and international partners. FBI Director Wray stated, "Today’s actions represent a first."

🇺🇦 Ukraine President Disappointed by PM Modi's Russia Visit

Ukraine President Zelenskyy criticized PM Modi's visit to Russia, highlighting the timing amid a deadly missile strike in Kyiv that killed 37 people. Zelenskyy shared images of the attack and called Modi's embrace with Putin a "devastating blow to peace efforts," stating, "It is a huge disappointment to see the leader of the world's largest democracy hug the world's most bloody criminal." 

🇺🇦 Ukraine Will Stop Putin, Biden Tells NATO

At the NATO summit, U.S. President Joe Biden pledged strong support for Ukraine against Russia's invasion. He highlighted Putin's objective to dominate Ukraine, emphasizing that Ukraine can and will resist. Biden reassured NATO members of the alliance's strength and commitment to Ukraine's defense, stating, "Ukraine can and will stop Putin." 

SCIENCE & TECH

🍏 Apple Leads with Record PC Shipment Gains

Apple Inc. saw a 21% rise in Q2 personal computer shipments, the highest among global PC makers, driving a 3% overall market growth, per IDC. Apple and Acer led gains, while Dell dropped 2.4%. Lenovo held a 23% market share, and HP followed with 21%. AI PC hype and a commercial refresh cycle spurred the market rebound.

🚀 Amazon Unveils Graviton4 Chip Amid Fierce Competition

Amazon Web Services (AWS) unveiled its fourth-generation Graviton4 chip, offering three times the compute power and memory, 75% more memory bandwidth, and 30% better performance. Aimed at improving cost-efficiency for users, Graviton4 supports AWS’s AI-focused Inferentia and Trainium chips, providing a competitive alternative in the rapidly growing AI chip market. 

🔍 Microsoft and Apple Drop OpenAI Seats Amid Antitrust Scrutiny

Microsoft has stepped down from its observer role on OpenAI's board, and Apple will not assume a similar position, as regulators scrutinize Big Tech's AI investments. OpenAI will instead hold regular meetings with partners. Microsoft stated the board role is no longer necessary, while Apple, expected to integrate ChatGPT into its devices, declined to comment on the matter.  

SPORTS & ENTERTAINMENT

⚽️ Messi Leads Argentina to Copa America Final with Win Over Canada 

Lionel Messi scored his first goal of the Copa America tournament as Argentina defeated Canada 2-0 to reach the final. Julián Álvarez opened the scoring in the first half, with Messi adding a second early in the second half. Argentina will face either Colombia or Uruguay in the final. Messi states, "It's crazy what this group did."

🎵 Joe Bonsall, Oak Ridge Boys Star for 50 Years, Dies at 76

Joe Bonsall, an Oak Ridge Boys member for 51 years, died at 76 from ALS complications. Joining in 1973, his tenor voice contributed to hits like "Elvira." Inducted into the Country Music Hall of Fame in 2015. Kyle Young, CEO of the Country Music Hall stated, "He was as exciting a performer as any who ever hit a gospel or country stage.”

OTHER NEWS

🏢 Office Vacancy Rates Hit Record 20.1% in Q2

Office vacancy rates hit a record 20.1% nationwide in Q2, per Moody's. San Francisco leads with 34.5%, up from 28.1% last year, and a stark rise from 5% pre-pandemic. Despite AI firms occupying spaces, vacancies are expected to peak in 2026 reflecting lasting pandemic impacts on work culture.

🎓 Only 36% of Americans Trust Higher Education 

Only 36% of Americans have high confidence in higher education, down from 57% in 2015, according to a Gallup and Lumina Foundation poll. Concerns include high tuition costs, student debt, and political bias. This decline spans all demographics and poses risks to future workforce shortages and earnings disparities. Confidence in two-year colleges is higher, at 49%.

🌪️ Hurricane Beryl Cuts Power to Millions in Scorching Texas Heat

Millions of Texans are without power due to Hurricane Beryl, amid a severe heatwave linked to five deaths this week. Beryl, now weaker, is moving north, threatening the Midwest with heavy rain and tornadoes. Power restoration may take days, and cooling centers are being established.

👥 Biden Rallies Support from Democratic Mayors

Biden meets virtually with nearly 200 Democratic mayors, including NYC Mayor Eric Adams and Chicago Mayor Brandon Johnson, to strengthen his reelection bid and address concerns about his capability to serve another term. He discussed policy priorities and answered questions but didn't address the recent debate controversy. Adams stated, "I'm just a soldier. Whatever is asked of me, I'm going to do that."

THIS DAY THAT YEAR

On July 10th, 1962, Telstar 1, the world's first communications satellite, was launched. This groundbreaking event marked the beginning of a new era in electronic communications, as Telstar 1 successfully transmitted live television signals and telephone conversations across the Atlantic Ocean for the first time.

BRAIN TEASER

I have many faces, expressions, and emotions, and I am usually right at your fingertips. What am I?

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Here’s what Yesterday’s teaser was:

What loses its head in the morning but gets it back at night?

The answer is: A pillow

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