Zuckerberg Apologizes for Online Harm to Kids

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BUSINESS & ECONOMY

📉 Jay Powell Counters Predictions of Immediate Interest Rate Reductions

The Federal Reserve announced potential interest rate cuts, yet emphasized they won't occur immediately, despite halting further hikes amid improved inflation outlooks. Maintaining rates at a 23-year peak, the Fed seeks more data to ensure inflation aligns with their 2% target. Chair Powell cautioned against early cut expectations, affecting market responses. The U.S. economy's growth and low unemployment highlight a cautious approach to easing, amid debates on timing amidst inflation uncertainties.

📉 ADP Reports Just 107,000 Private Jobs Added in January, Marking a Significant Hiring Slowdown

In January, U.S. businesses added 107,000 jobs, below the expected 150,000, indicating a hiring slowdown, ADP reports. Leisure, hospitality, and construction saw gains, while information jobs declined. Wage growth slowed, with a notable quote from ADP's Nela Richardson: "Progress on inflation has brightened the economic picture despite a slowdown in hiring and pay," suggesting a potential soft landing for the economy. Expectations lean towards a Federal Reserve rate cut by early summer.

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WORLD

🔍 Zelensky Prepares to Dismiss Ukraine's Top Commander Amid Growing War Rift, Source Reveals

In a significant shift, Ukraine's President Zelensky plans to dismiss the country's popular army chief, Valery Zaluzhny, amid rising tensions and a stalemate in the war with Russia. Despite denials, a meeting hinted at Zaluzhny's ouster, signaling the largest military leadership change since the invasion. Potential successors include Kyrylo Budanov and Oleksandr Syrskyi, as Zaluzhny's popularity among Ukrainians remains notably high.

🌍 South Africa Urges Nations to Stop Funding IDF

South Africa urges global cessation of support for Israel's military efforts in Gaza, citing an International Court of Justice (ICJ) finding on the plausible genocide against Palestinians. Despite no ceasefire directive, South African Foreign Minister Naledi Pandor highlights ignored rulings amidst violence, advocating for Palestinian rights with historical parallels to apartheid, emphasizing "This necessarily imposes an obligation on all states."

SCIENCE & TECH

🔒 2s Amid Senate Tech CEO Inquiry

During a bipartisan Senate Judiciary Committee hearing, social media CEOs, including Meta's Mark Zuckerberg—who personally apologized to affected families—faced scrutiny over their platforms' impact on youth mental health and exploitation issues. Despite efforts to improve, the hearing revealed a pressing need for legislative action amidst a growing crisis, with some CEOs supporting the Kids Online Safety Act amidst calls for regulation.

🎮 Epic Gears Up to Challenge Apple's 'Bad-Faith' Payment Policy Changes

Epic criticizes Apple's "bad-faith" compliance with a 2021 court mandate to allow external payment links, deeming the imposed 27% fee and stringent reporting requirements as minimal deviations from its traditional 30% commission. Epic plans to challenge these terms in court, supported by a former antitrust attorney's view that the court is unlikely to side with Apple's contentious App Store policies.

SPORTS & ENTERTAINMENT

🔒 Alec Baldwin Asserts Innocence Against Renewed Manslaughter Accusation in Rust Case

Alec Baldwin pleaded not guilty to involuntary manslaughter for the 2021 shooting of Halyna Hutchins on "Rust." Despite claims of not pulling the trigger, forensic evidence implies it was engaged, stating "the trigger had to be pulled." Charges were refiled against Baldwin, who faces travel and alcohol restrictions, while co-defendant Gutierrez-Reed also faces charges. The production of "Rust" has since concluded.

📺 Family Guy Creator Confirms Show's Success, Sees No Finale Yet

Seth MacFarlane marks Family Guy's 25th anniversary, attributing its success to a loyal audience and humor-centric writing, with over 400 episodes and more to come. MacFarlane emphasizes, "It's a room full of comedy writers who just want to f**king laugh…" as the core mission. Renewed through the 2024–25 season, the show will move to Wednesday nights starting March 2024 on Fox, continuing despite MacFarlane's critiques of Fox News.

🏀 Damian Lillard Honored with Video Tribute and Standing Ovation in Portland Return

Damian Lillard, warmly welcomed back in Portland with a standing ovation, played his first game against the Blazers since joining Milwaukee. Despite a late Bucks rally, Portland clinched a 119-116 victory. Lillard, reflecting on his return, deemed it surreal and reminisced about his deep connection with the city. He didn't dismiss a potential return, highlighting his current championship aspirations with Milwaukee alongside Giannis Antetokounmpo.

OTHER NEWS

🌧️ California Faces First of Dual Atmospheric River Storms

California faces a severe weather duo: an atmospheric river, dubbed the "pineapple express," brings flood risks, landslides, and heavy snow through Thursday, with a second, possibly more impactful storm late weekend. Flood and winter storm alerts span from the Bay Area to San Diego. The first storm intensifies Today, the subsequent system threatens already saturated grounds, heightening severe weather risks.

🏛️ House Approves Bipartisan Bill Expanding Child Tax Credit

The House approved a bipartisan $78 billion tax package, expanding the child tax credit and restoring business tax benefits, with a 357 to 70 bipartisan vote. Aimed at lifting half a million children out of poverty, the bill faces Senate next. Critics focus on unchanged state tax deductions and potential work disincentives. Speaker Mike Johnson praised the "rare bipartisan support" for targeting lower-income families and business relief.

🔍 Trump's PACs Spend Nearly $29 Million on Legal Fees in Six Months

Donald Trump's PACs spent nearly $29 million on legal fees in late 2023, part of over $50 million total for the year, draining Save America's funds to $5.1 million. Amid four criminal indictments and civil litigation, including an $83.3 million award to E. Jean Carroll and a lawsuit seeking $370 million for fraud, Trump diverts 10% of campaign donations to legal expenses, burdening political contributors.

🗳️ Nikki Haley States Texas Has Right to Secede, If They want to

Republican presidential candidate Nikki Haley contends Texas can secede if its citizens wish, despite legal precedents against such moves. Her comments, amid Texas-Biden administration disputes, echo her belief in state sovereignty, contradicting the 1869 Supreme Court ruling that the U.S. is an "indestructible union." Haley's stance underscores her advocacy for states' rights, highlighting a divisive issue in American politics.

THIS DAY THAT YEAR

On February 1, 2003, during its return to Earth from an orbital mission, the U.S. space shuttle Columbia tragically disintegrated at an altitude of approximately 40 miles (60 km) over Texas, resulting in the loss of all seven crew members' lives.

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