US Consumers Surpass Expectations

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BUSINESS & ECONOMY

🏛️ Senate Approves Stopgap Funding Bill, Prevents Government Shutdown

Congress approved a bill to temporarily fund federal agencies, averting a shutdown but leaving long-term budget talks uncertain. Passed by the Senate (87-11) and the House, it sets funding deadlines into early 2024. Senator Schumer stated, "There will be no government shutdown... we are keeping the government open without any poison pills or harmful cuts," highlighting GOP internal rifts, posing challenges for future agreements.

📉 U.S. Consumers Continue to Surpass Expectations with Smaller Decline in October Retail Sales

U.S. retail sales in October fell a mere 0.1%, less than Wall Street's 0.3% expectation, showcasing consumer resilience. Economist Thomas Simons notes, "the pace of spending in Q3 is unsustainable," contrasting with the modest decline. Nationwide's Kathy Bostjancic suggests this slowdown aligns with the Federal Reserve's anti-inflation efforts. Despite mixed sector results, major retailers like Home Depot and Target beat forecasts, but Simons warns of a likely Q4 spending dip.

📉 US Producer Prices See Unexpected Drop in October

In October, U.S. producer prices fell 0.5%, the most since April 2020, led by a 15.3% drop in gasoline costs. The annual PPI increase slowed to 1.3%, signaling reduced inflation pressure. This trend, alongside slower job and wage growth, suggests an end to the central bank's rapid monetary policy tightening, with markets anticipating a rate cut by next May. Goods prices declined significantly, while core goods edged up slightly.

WORLD

🚫 Vatican Upholds Prohibition Against Catholics Joining Freemasonry

The Vatican, guided by Pope Francis, reinforces its ban on Catholics joining the Freemasons, stating it's irreconcilable with Catholic doctrine and those involved commit "grave sin," barring them from Holy Communion. This response, particularly to the Freemasonry's growth in the Philippines, coincides with the Vatican's acceptance of transgender participation in Catholic sacraments. Freemasonry boasts a six-million-member global presence, including historical figures like Winston Churchill.

🕊️ UN Security Council Passes Resolution for Humanitarian Breaks in Gaza

The U.N. Security Council approved a resolution for humanitarian aid in Gaza amidst the Israel-Hamas conflict. Introduced by Malta, it passed with 12 votes, with the U.S., U.K., and Russia abstaining. The resolution calls for humanitarian pauses, without explicitly condemning Hamas or mentioning a ceasefire. The conflict has caused over 11,000 Palestinian deaths. Riyad Mansour, Palestine's U.N. observer, labeled the situation "a failure of humanity of terrifying magnitude."

🚨 Myanmar Directs Civil Servants and Ex-Military to Ready for Crisis Situations

Myanmar's military junta orders government staff and ex-military to prepare for emergency service amid escalating insurgent attacks and a pro-democracy campaign to take Naypyitaw, the capital of Myanmar. The U.N. expresses concern over 2 million displaced amidst intensified anti-military coordination post-2021 coup. International sanctions have been reintroduced, yet the military rulers largely disregard regional attempts at fostering peace.

SCIENCE & TECH

🖥️ Microsoft's Bing Chat Rebranded to Copilot in Competition with ChatGPT

Microsoft rebranded Bing Chat to "Copilot in Bing" at Ignite 2023, aiming for a unified experience across consumer and commercial use. Starting December 1, Copilot offers "commercial data protection" for Microsoft Entra ID users, ensuring data privacy. Now accessible in Windows, it's included in various Microsoft subscriptions, with a standalone $5 per month option for others.

📱 Nothing Unveils iMessage Compatibility for Android Users

Nothing now offers iMessage on Android, requiring an Apple ID login, raising security concerns. It's based on Sunbird's platform with end-to-end encryption, but stores Apple ID tokens. Marques Brownlee described it as using a Mac mini server for routing. Despite its innovation in messaging interoperability, the security risks, particularly for enterprise users, are significant.

SPORTS & ENTERTAINMENT

🏏 Stellar Performances by Kohli, Shami, and Iyer Propel India into Cricket World Cup Final

In the ICC Men's Cricket World Cup 2023 semi-final, India won over New Zealand powered by standout performances from Virat Kohli, Shreyas Iyer, and Mohammed Shami. Kohli's historic 50th ODI century and Iyer's swift ton set up a formidable first-innings total for India. Shami's extraordinary bowling, taking seven wickets for 57 runs, played a crucial role in securing the win and making him the tournament's leading wicket-taker.

🎬 Jimmy Kimmel Confirmed to Host Oscars Again

Jimmy Kimmel will host the 96th Oscars on March 10, his fourth time, after boosting viewership to 19 million in 2023. His controversy-free stint contrasts with the tumultuous 2022 Oscars, where Will Smith slapped Chris Rock on stage, sparking widespread controversy. Kimmel humorously remarks, "I always dreamed of hosting the Oscars exactly four times."

OTHER NEWS

📉 Maryland Sets Record with Lowest Unemployment Rate in U.S. History at 1.6%

Maryland's job market hit a historic low with a 1.6% unemployment rate in September, the lowest since 1976. Driven by sectors like government and health care, this robust market faces a tight labor force due to post-COVID-19 working-age population loss and out-migration. With 3.3 job openings per job seeker, Maryland's scenario empowers workers to demand higher wages, reflecting the state’s strong economic growth.

🚨 Eight Juveniles Charged with Murder in Videotaped Attack on Student, Confirm Police

Eight juveniles from Rancho High School are charged with murdering 17-year-old Jonathan Lewis in Las Vegas, over stolen items. The brutal attack, caught on video, showed Lewis being beaten to unconsciousness, leading to his death from blunt force trauma. Las Vegas police called the footage "very void of humanity." Half the suspects face adult trial, while Lewis' parents establish a foundation  Team Jonathan.

🚫 Mexico Declines Texas Offer for State Police to Deport Undocumented Immigrants

Mexico "categorically rejects" Texas Senate Bill 4, which criminalises illegal entry and authorises local deportation of undocumented immigrants, emphasising due process rights. Governor Abbott supports the bill, though it faces constitutional scrutiny over potential conflict with federal immigration jurisdiction, as established in Arizona v. U.S. The bill's impact is complex, with 83% of border migrants being non-Mexicans.

THIS DAY THAT YEAR

On 16 November 1988, Benazir Bhutto made history as Pakistan's first female prime minister and the first woman to lead a Muslim-majority country democratically. Her tenure spanned 1988-1990 and 1993-1996. A liberal and secularist, she led the Pakistan People's Party until her assassination in 2007.

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