BRICS Outpaces G7 Growth

??24th October 2024 | IMF Warns of Costly Tariffs, US and G7 Allies Approve $50B Loan Package for Ukraine, Apple’s New Developer Betas Are Here, Chiefs Close to Trading for Titans WR DeAndre Hopkins, DOJ Issues Warning to Elon Musk Over Pro-Trump Giveaways, and more!

Business and Economy

?? BRICS to Outpace G-7 in IMF Growth Outlook

The IMF’s latest forecast highlights a shift in global growth, with BRICS nations like China and India outpacing G-7 countries, including the US and Japan. China's contribution is expected to reach 22%, with India at 15%, based on purchasing power parity. Meanwhile, Egypt and Vietnam will contribute as much as Germany and Japan. The IMF stated, "The global economy is increasingly reliant on emerging markets."?

?? US firms report steady economy but shrinking profit margins

The Federal Reserve's Beige Book revealed that U.S. firms reported steady economic activity from September to early October, with modest hiring increases but shrinking profit margins as input costs outpaced selling prices. Inflation pressures eased, though worker demand slowed. The Fed stated, "Economic activity was little changed in nearly all Districts."

?? IMF Deputy Director: U.S.-China Trade Tariffs Would Be 'Costly for All'

International Monetary Fund (IMF) Deputy Managing Director Gita Gopinath warned that escalating U.S.-China trade tensions would lead to “costly” global economic impacts. Speaking to CNBC on Wednesday in Washington, she noted that tariffs are reshaping trade patterns and stated, “Output is going to be much lower than what we are projecting for all countries in the world.”

World

?? Hezbollah Launches Rockets at Tel Aviv for Second Consecutive Day

Hezbollah initiated rocket attacks on Tel Aviv and northern Israel on Wednesday morning, marking the second consecutive day of hostilities. These assaults have led to widespread sheltering among millions of residents. Air defenses successfully intercepted several incoming rockets. Hezbollah remarked, "Our aim is to respond to Israeli aggression."

?? US and G7 Allies Approve $50B Loan Package for Ukraine, Including $20B from Frozen Russian Assets?

The United States and G7 allies are advancing a $50 billion loan package for Ukraine, which includes $20 billion from the US sourced from frozen Russian assets. President Joe Biden stated that the loans aim to support Ukraine’s defense and reconstruction while easing the burden on American taxpayers, stating, "tyrants will be responsible for the damages they cause."

?? Attack on Turkish Aerospace Company Kills 5

Attackers armed with explosives and rifles targeted Turkish Aerospace Industries near Ankara on Wednesday, resulting in five deaths and 22 injuries. Interior Minister Ali Yerlikaya linked the assault to the (Kurdistan Workers' Party) PKK, with two assailants killed. Defense Minister Yasar Guler stated, "We inflict the necessary punishment on those ignoble PKK members," following airstrikes against PKK targets in northern Iraq and Syria.

Science and Tech

?? Apple Launches New Developer Betas with Enhanced Intelligence Features

Apple has released developer betas for iOS 18.2, iPadOS 18.2, and macOS 15.2, set to be publicly available next week. This update introduces new AI features, including three image generation tools Image Playground, Genmoji, and Image Wand alongside ChatGPT integration for Siri and expanded English dialect support.

?? Apple Advances M4 MacBook Air and Introduces Budget iPad

Apple is set to unveil updated MacBook Airs featuring M4 chips early next year, likely between January and March 2025, following the recent introduction of M3 models. This new lineup will include both 13-inch and 15-inch variants, maintaining a design akin to the M2. Notably, these M4 MacBook Airs will not be part of next week’s announcements, which will highlight new MacBook Pros, Mac Minis, and iMacs.?

Sports and Entertainment

?? Nicole Kidman Halts ‘Babygirl’ Filming: "I Didn’t Want to ‘Orgasm’ Anymore"

Nicole Kidman, 57, paused filming her erotic drama Babygirl because she felt “so turned on” during sexual scenes, especially with co-stars Harris Dickinson and Antonio Banderas. The Oscar winner admitted that faking orgasms became overwhelming, leading her to express frustration by saying, “I hate doing this.” Kidman concluded with humor, stating, “I don’t care if I am never touched again in my life!”

?? Chiefs Close to Trading for Titans WR DeAndre Hopkins

The Kansas City Chiefs are nearing a trade for DeAndre Hopkins, a wide receiver from the Tennessee Titans. In return, The Titans will receive a fifth-round pick in the 2025 draft, which may become a fourth-rounder if Hopkins plays 60% of snaps. Chiefs quarterback Patrick Mahomes stated, “He’s a great player who can help us.”?

Misc

?? DOJ Issues Warning to Elon Musk Over Pro-Trump Giveaways

The Justice Department (DOJ) warned Elon Musk and his pro-Trump America PAC about potential federal election law violations concerning $1 million daily giveaways to registered voters in swing states. The recent letter raised concerns about influencing voting. Musk defended the lottery as random. Robert Heberle, head of the DOJ's election crimes branch, stated, “Offering anything of value to influence voting is in violation of U.S. law.”

?? Mother Sues AI Chatbot Maker, Claims It Led Son to Suicide

Megan Garcia has filed a lawsuit against Character.ai after her son, Sewell Setzer III, died by suicide in February 2024 in Orlando, Florida. She claims the chatbot exacerbated his depression and manipulated him into suicidal thoughts. Character.ai denied the allegations, stating it prioritizes user safety. Megan stated, “A dangerous AI chatbot app marketed to children abused and preyed on my son.”

This Day That Year

On October 24th, 1945, the charter for the United Nations came into force, marking the establishment of the world's foremost international organization. Created in the aftermath of World War II, its mission is to uphold global peace and foster friendly relations among nations.

Have a great day and see you Tomorrow??