Dow Reaches New Heights After Trump's Win

??12th November 2024 | FTX Sues Binance & Zhao for $1.8B, Brussels to Unlock Billions for EU Defence and Security, The Washington Post Debuts AI Newsboy to Answer Questions, Megan Fox Expecting Baby No 4 with Machine Gun Kelly, Musk Weighs In on Trump’s Staffing Choices, Trump Set to Pick Marco Rubio for Secretary of State, and more!

Business and Economy

?? FTX Sues Binance & Zhao for $1.8B

FTX has filed a lawsuit against Binance and former CEO Changpeng Zhao, demanding $1.8 billion over a 2021 share buyback deal allegedly funded with customer funds. The case challenges the $1.76 billion repurchase of Binance's stake in FTX, claiming it was fraudulent. In response, Binance stated, "The claims are meritless, and we will vigorously defend ourselves."

?? Extreme Weather Cost $2T in a Decade; U.S. Hit Hardest

Extreme weather linked to climate change has cost the global economy $2 trillion in the past decade, with the U.S. incurring the highest losses at $934.7 billion. Developing nations face heightened risk, with single events often surpassing their annual GDP. ICC Secretary-General John Denton stated, “The economic impact of climate change demands a swift, decisive response.”?

?? Dow surges 300 points closing above 44,000 on Trump's optimism

The Dow Jones Industrial Average climbed 304 points, closing at 44,293.69, marking its first close above 44,000 fueled by optimism following Donald Trump’s election victory, with hopes for deregulation driving market momentum. Major financial stocks, including JPMorgan and Goldman Sachs, saw strong gains. Morgan Stanley’s Lisa Shalett stated, “Trump’s victory has revived investor confidence.”

World

??? Brussels to Unlock Billions for EU Defence and Security

Brussels is set to free up €392bn from cohesion funds (2021-2027) to support EU defense and security. The shift, driven by the Ukraine conflict and global pressures, will allow spending on military mobility and defense infrastructure, while still prohibiting direct weapon purchases. Lithuania’s Finance Minister Gintar? Skaist? stated, "Investing in military mobility is crucial for the region."

??? Saudi Crown Prince Accuses Israel of Gaza Genocide

Saudi Crown Prince Mohammed bin Salman criticized Israel’s actions in Gaza, calling them "genocide" at a summit of Arab and Muslim leaders. He also condemned Israeli strikes on Lebanon and Iran, warning against further escalation. Saudi Foreign Minister Prince Faisal Bin Farhan Al-Saud called out the international community’s failure to end the conflict, stating, “The international community has failed to end the immediate conflict.”

Science and Tech

?? The Washington Post Debuts AI Newsboy to Answer Questions?

The Washington Post has introduced "Ask The Post AI," a new chatbot that provides answers based on its content from 2016 onward. Using algorithmic ranking to ensure accuracy, it avoids errors and builds on the success of the Climate Answers chatbot. Chief Technology Officer? Vineet Khosla stated, "We aim to meet audiences how, when, and where they want with an updated user experience."?

?? Google’s AI ‘Learn About’ Elevates Chatbot Responses

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Google has unveiled Learn About, an experimental AI tool that enhances chatbot responses with a focus on education. Built on the LearnLM model, it goes beyond basic answers by integrating interactive, visual elements and educational formatting offering contextual information, vocabulary-building features, and links to related topics, providing a more comprehensive learning experience than traditional chatbots.

Sports and Entertainment

?? Megan Fox Expecting Baby No 4 with Machine Gun Kelly

Megan Fox, 38, and her fiancé Machine Gun Kelly, 34, are expecting their first child together. This will be Fox's fourth, as she has three sons with ex-husband Brian Austin Green, while Kelly has a 15-year-old daughter. Fox announced her pregnancy on Instagram, sharing a photo with a positive test stating, "Nothing is ever really lost. welcome back”?

?? Dolphins' Win Over Rams May Be Too Late to Matter

The Miami Dolphins secured a 23-15 win over the Los Angeles Rams, but their playoff chances remain slim. With a 3-6 record, the Dolphins’ earlier setbacks especially during Tua Tagovailoa’s absence left little room for error. The Rams, at 4-5, also face a tough path after a sloppy performance. Coach Mike McDaniel stated, "The Dolphins will need a miracle finish to make the playoffs."?

Misc

?? Musk Weighs In on Trump’s Staffing Choices

Elon Musk has become an influential advisor to President-elect Donald Trump, offering input on staffing decisions since Election Day. Spending considerable time at Mar-a-Lago, Musk has joined calls with foreign leaders and voiced concerns over Rep. Elise Stefanik’s potential UN appointment. He also supported Sen. Rick Scott for Senate leadership, stating, “It might be too risky to lose her from the House.”??

??? Trump Seeks Mike Waltz as National Security Adviser

President-elect Donald Trump has nominated Rep. Mike Waltz of Florida as his national security adviser. A Green Beret and Trump supporter, Waltz would manage critical global challenges, including the Ukraine-Russia war and Middle East conflicts reflecting Trump’s preference for loyal allies. Waltz stated, "It’s about securing the border and addressing the inflow of people."??

???? Trump Set to Pick Marco Rubio for Secretary of State

President-elect Donald J. Trump is expected to name Senator Marco Rubio of Florida as his secretary of state, sources said Monday. Rubio, a strong foreign policy figure with hawkish views on China, Iran, and Venezuela, has been aligned with Trump on various issues. His confirmation is likely, though questions remain over his priorities. Rubio's spokesman stated, "I think we’re ready for change."

This Day That Year

On November 12th, 1970, the devastating Bhola cyclone struck East Pakistan (now Bangladesh), claiming the lives of hundreds of thousands in the densely populated Ganges-Brahmaputra delta. Considered one of the deadliest tropical cyclones in recorded history, it remains one of the greatest natural disasters ever to occur.

Have a great day and see you Tomorrow??