Younger Consumers Opt for 'Buy Now, Pay Later'

Hey there scroller🤳

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

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

BUSINESS & ECONOMY

🏦 Global Banks Confront Downturn and Real Estate Challenges in 2024, Warns Moody's

Moody's 2024 outlook for banks is negative, citing sluggish growth, loan default risks, and profit pressures. Rate hikes and rising unemployment are expected to impact asset quality, especially in U.S. and European real estate. Despite uneven performances, banks grapple with elevated funding expenses and potential default reserves, yet their capital strength is anticipated to be resilient. Felipe Carvallo of Moody's notes, "Funding and liquidity will pose challenges, but capitalization will remain stable."

🛍️ Younger Consumers Increasingly Opt for 'Buy Now, Pay Later', Says VantageScore CEO

Credit card debt is on the rise, raising concerns of a potential crisis amid holiday spending. Bank of America's survey shows 75% of Gen-Zers are cutting spending due to higher inflation. VantageScore CEO Silvio Tavares notes a shift toward "buy now, pay later" and warns of possible credit deterioration in the next few months. Banks are reducing new credit accounts, while employment is cooling off, potentially affecting younger consumers' ability to make timely payments.

WORLD

🕵️‍♂️ Ex-U.S. Ambassador to Bolivia Manuel Rocha Allegedly Spied for Cuba Over Decades

Victor Manuel Rocha, former U.S. ambassador, was arrested for spying for Cuba since 1981, charged with 15 counts including acting as a foreign agent. He accessed top-secret data through diplomatic roles. Attorney General Merrick Garland described it as "one of the highest-reaching and longest-lasting infiltrations of the U.S. government by a foreign agent." 

🚢 U.S. Plans Task Force to Protect Red Sea Shipping Against Iranian Proxies

The U.S. contemplates a naval task force in the Red Sea after Iranian-backed Houthis attacked commercial ships, amid the Israel-Hamas conflict. Jake Sullivan, national security advisor compares this to existing Gulf and Somali operations. The U.S.S. Carney shot down three drones, underscoring worldwide maritime security risks. The Biden administration faces criticism for its current approach, with demands for stronger measures against Iranian proxy threats.

🌍 Global CO2 Emissions Rise, Fueled by China, India, and Air Travel

Global carbon emissions surged by 1.1% in 2023, largely driven by China, India, and aviation, despite international efforts to cut emissions by 43% by 2030. Emissions reached 36.8 billion metric tons, double the level four decades ago, putting the Paris Agreement's 1.5-degree Celsius target at risk. Urgent action is needed to halt this trend and achieve zero fossil fuel emissions globally.

SCIENCE & TECH

🎮 GTA 6 Trailer Reveals 99 Key Features

Grand Theft Auto 6's trailer presents Vice City with protagonist Lucia, offering advanced graphics, diverse settings, and a focus on social media dynamics. Features include intricate car customization and a rich array of activities. Scheduled for a 2025 release on PlayStation 5 and Xbox Series X/S, the trailer epitomizes depth with 'Every single shot tells a new story.

🚀 Elon Musk's xAI Firm Aims for $1 Billion Investment Boost

Elon Musk's xAI seeks to raise up to $1 billion in equity investments, which already raised $134.7 million, aiming to understand the universe's true nature. Grok AI chatbot sources real-time data from X (formerly Twitter) but is exclusive to X's Premium Plus subscribers. xAI is distinct from X Corp. The SEC filing indicates a $2 million minimum for extern.

SPORTS & ENTERTAINMENT

📢 SAG-AFTRA Members Approve New Contract, Strike Ends

SAG-AFTRA members overwhelmingly ratified a groundbreaking contract, concluding a 118-day strike and ushering in a "new era for the industry." The deal, valued at over $1 billion, enhances minimum wages, and AI regulations, and includes performance capture work. Union leaders, emphasizing unity and empowerment, celebrated the contract's historic protections and advancements for performers.

🌟 Taylor Swift Ranked Forbes' 5th Most Powerful Woman Globally

Taylor Swift, boasting a $1.1 billion net worth, has clinched the fifth position on Forbes' 2023 list of the world's most powerful women, outshining fellow music icons Beyoncé at No. 36 and Rihanna at No. 74. Her unprecedented ascent in the rankings underscores her immense influence and success in the music industry. Forbes' evaluation criteria include wealth, media presence, and the broader impact and spheres of influence each woman wields.

OTHER NEWS

🔥 Western U.S. Wildfires Erase 20 Years of Air Quality Improvements

The study in The Lancet Planetary Health shows intensified wildfires in the western U.S. worsening air quality, reversing EPA's emission reduction gains, and causing a 55% rise in black carbon. This led to 670 additional premature deaths annually. Jun Wang, the study's lead, states, "We are losing ground," emphasizing the setback to air quality improvements.

🗣️ Speaker Johnson Demands Biden Choose Between Ukraine Funding and Immigration Policy

House Speaker Mike Johnson has tied further Ukraine funding to U.S. immigration reforms, challenging aid prospects. He insists Ukraine's assistance depends on overhauling border security laws. The White House warns that aid for Ukraine may run out by year-end, posing risks to Ukraine and facing Republican concerns over domestic spending. Johnson aims to merge Ukraine and immigration funding into one bill, prioritizing America's border security alongside helping Ukraine.

🔍 FBI Director Wray Asserts Surveillance Program's Necessity Amid Senate Hearing Backlash

FBI Director Christopher Wray, at a Senate hearing, advocated renewing the Section 702 surveillance program, crucial against cybercrime and terrorism, before its December 31 deadline. Despite reforms and a 98% compliance rate, critics like Sen. Mike Lee argue it infringes on privacy, citing misuse in tracking Americans. Skepticism remains over potential Fourth Amendment violations and the program's broader impact.

THIS DAY THAT YEAR

On 6th December 1921, the Anglo-Irish Treaty, officially titled the Articles of Agreement for a Treaty Between Great Britain and Ireland, concluded the Irish War of Independence. It established the Irish Free State as a self-governing dominion within the British Empire, akin to Canada while granting Northern Ireland the choice to remain outside the Free State.

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, see you tomorrow🕺