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BUSINESS & ECONOMY

📈 Inflation Remains High, Dimming Quick Fed Rate Cut Hopes

Inflation remains stubborn in the U.S., defying Federal Reserve expectations and delaying anticipated interest rate cuts. Recent reports show both consumer and wholesale inflation rates higher than predicted, indicating a prolonged period of tight monetary policy. Despite a resilient job market and better-than-expected economic performance, investor expectations have shifted, now foreseeing steady interest rates into 2024, in line with the Fed's cautious stance.

📈 Ukraine Aid Boosts US Economy, Backers Claim

Amidst congressional stalling on Ukrainian aid, U.S. proponents stress the economic benefits, highlighting boosts to defense contractors and U.S.-Europe trade. Over 60% of the $61 billion allocated would benefit U.S. companies, with defense production increasing by 17.5%. European spending on U.S. military hardware has notably risen, putting pressure on House Speaker Mike Johnson to reconsider the aid bill as Congress enters recess.

🚀 Millennials Excel in Investing

The Federal Reserve Bank of New York reports that U.S. millennials' wealth surged by 80% from 2019 to 2023, largely due to a 90% rise in the stock market. Their strategic investment in equities, aided by government stimulus checks, slightly narrowed the wealth gap with older generations. However, the wealth disparity persists, with under-40s holding 6.7% of total wealth by 2023. Nick Colas noted, "Starting points matter," highlighting the relative ease of growth for younger investors with less initial wealth.

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WORLD

🔍 Navalny Reportedly Found Dead with Bruising, Russia Cites 'Sudden Death Syndrome'

Russian opposition leader Alexei Navalny's death in prison, was marked by signs of bruising and official claims of "sudden death syndrome," has ignited accusations against President Putin's regime for murder. Global leaders, including President Biden—who stated, "there is no doubt that the death of Navalny was a consequence of something that Putin and his thugs did"—demand transparency and accountability.

🚶‍♀️Thousands Protest Against López Obrador's Reform Plans in Mexico

In Mexico, widespread protests have ignited against President López Obrador's reforms, particularly the proposal for direct elections of INE board members and Supreme Court judges, stirring fears for democracy. Lorenzo Córdova, the former head of INE, starkly warned, "Today, from a position of power, they want to destroy that ladder so no one else can climb it," highlighting the perceived risk to the country's checks and balances. 

🇭🇺 Hungary Rejects U.S. Senators' Efforts to Support Sweden Joining NATO

Hungary, led by Prime Minister Viktor Orban, notably snubbed a U.S. Senate delegation pressing for Sweden's swift NATO entry, underscoring Orban's "Hungary before all else" stance against external influence. This act of defiance amidst Hungary's democratic backslide and delay in Sweden's NATO membership has puzzled allies, with Orban criticized as NATO's "least reliable member."

SCIENCE & TECH

🚀 Apple iPhone 16 Leak Suggests Super-Fast Upgrade

The iPhone 16 series, launching this fall, is rumored to significantly enhance AI capabilities with increased AI computing cores, especially in the Neural Engine, as reported by Economic Daily News. This upgrade, aimed at supporting advanced generative AI features, will extend across Apple's product line, including new iPads and MacBooks, as confirmed by CEO Tim Cook.

🌐 China Unveils World's Most Powerful Supercomputer, Processor Virtually Dissected

China launched Tianhe-3, dubbed the most powerful supercomputer globally with a peak performance of 2.05 exaflops, marks a significant advancement in technology. Developed by the National University of Defense Technology, it surpasses potential rivals with its innovative Matrix-3000 architecture, enhancing computing and AI capabilities. It's hailed as the "most powerful machine yet assembled on Earth," setting a new benchmark in supercomputing.

SPORTS & ENTERTAINMENT

🏆 Taylor Swift, Barbie, Grey's Anatomy Win Big at 2024 People's Choice Awards

The 2024 People’s Choice Awards, hosted by Simu Liu, spotlighted entertainment's best in Santa Monica. "Barbie" and "Grey's Anatomy" won top honors among 45 categories. Taylor Swift took home the Female Artist of the Year, while Jennifer Aniston was honored as the Drama TV Star of the Year. Adam Sandler received the People’s Icon Award with a humorous speech, and Lenny Kravitz was awarded the Music Icon Award, following a standout performance.

🏀 East All-Stars Set NBA Record, Scoring Over 200 Points to Defeat West in Indianapolis

In the record-breaking 2024 NBA All-Star Game, the Eastern Conference triumphed over the Western with a score of 211-186, the highest ever in All-Star history. Damian Lillard, in his Eastern debut, earned MVP with 39 points. Karl-Anthony Towns topped scoring with 50 points for the West. The game also marked LeBron James' 20th consecutive All-Star appearance.

OTHER NEWS

🚧 California Flood Alert, Nearly Entire State Under Advisory, Road Travel Discouraged

California, grappling with recovery from a devastating storm, faces more rainfall with nearly the entire state under flood advisories. Officials warn of "significant flooding," urging preparedness for up to 10 inches of rain in places. Gov. Gavin Newsom has activated emergency operations, emphasizing, "Our state is taking this next storm seriously," as flood and winter storm warnings signal severe weather impacts across major cities and the Sierra region.

📊 Biden Ranked 14th Best President, Trump Places Last in Expert Survey

In the 2024 Presidential Greatness Project Expert Survey by the American Political Science Association, Biden ranked 14th, surpassing Reagan and Wilson, while Trump landed last at 45th. Abraham Lincoln was hailed as the greatest. Obama was ranked 7th, revealing a partisan divide in the evaluations of Obama and Biden.

📱 Score a new Dating App for Singles with Strong Credit Scores

Neon Money Club's launched an  innovative dating app Score, requiring a 675 credit score for users to blend finance with romance. Luke Bailey, co-founder, emphasizes the need for financial discussions in new arenas, saying, “We need to take the conversation to areas where finance isn’t traditionally discussed.,”encourageing financial literacy and compatibility.

THIS DAY THAT YEAR

On 19 Feburary, 2019, Karl Lagerfeld, a German fashion designer and photographer known for his instrumental role in the modern revival of Chanel—a legendary French fashion house established by Coco Chanel in the early 20th century—passed away in Paris.

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