This week in the news | 6 Jul 24

You can find the latest weekly news summary from Curated Compositions here.

Some of the highlights include:

North America

Hurricane Beryl, the second named storm of 2024, is forecasted to hit Texas. ??New York's traffic congestion pricing plan collapsed, wasting $700 million and halting significant transit changes. Kinky Friedman, a musician, author, and one-time politician, passed away at 79, leaving behind a unique legacy in music and literature.

Latin America

Satellite images have revealed the expansion of suspected Chinese spy bases in Cuba. José Raúl Mulino was sworn in as Panama’s president and has vowed to halt migration through the Darien Gap, a major transit point for migrants from various countries.

Europe

U.S. military bases in Europe, including one in Stuttgart, Germany, have heightened their alert status due to potential terrorist threats. In Ukraine, Russian soldiers using unconventional vehicles like motorcycles and quadricycles are changing the dynamics on the front lines. The Netherlands now has its first far-right government, reflecting a significant political shift. The UK's Labour Party has won a landslide victory, bringing a center-left government to power after 14 years of Conservative rule. Greece has implemented a optional six-day workweek to boost productivity.

Africa

In Sudan, the Rapid Support Forces have opened a new front in the ongoing war, worsening famine fears as towns and markets are looted and thousands are displaced.

Asia-Pacific

China and Australia are competing for influence in the Pacific by donating infrastructure to Vanuatu and the Solomon Islands, respectively. Japan has introduced new fees and limits for Mount Fuji climbers to manage overcrowding and environmental impact. A Chinese rocket mishap during a ground test resulted in a crash, raising questions about the country's space program safety. Over 100 people died in a stampede at a religious event in India, marking the deadliest such incident in a decade.

Space

Debris from a SpaceX Dragon capsule was found in North Carolina, adding to the growing issue of space junk re-entering Earth's atmosphere.

Government

The Supreme Court ruled that former presidents have broad immunity from prosecution for their acts while in office, and an opinion piece suggests that the next president will face the challenge of managing the Supreme Court's divided factions.

Economy

Federal Reserve Chair Jerome Powell stated that inflation is slowing but it's not yet time to cut interest rates. The U.S. labor market is showing signs of slowing down, with fewer job openings and a slight rise in unemployment. Employers added 206,000 jobs in June, reflecting a gradual cooldown in the labor market.?

Business

YouTube TV experienced its first quarterly loss of subscribers, dropping 150K members due to the end of the football season. Nike's stock fell by 20% on a single day after forecasting a drop in sales for the current quarter.

Energy

In 2023, U.S. energy production exceeded consumption by a record amount, with production rising and consumption falling.?

Real Estate

Lumber prices have dropped significantly, indicating a slowdown in residential construction and home-improvement markets due to high borrowing costs.?

Personal Finance

Young adults are turning to bulk purchases at warehouse stores like Costco and Sam’s Club to combat rising grocery prices.

Food & Drink

The Caesar salad, invented in Mexico by Italian immigrants, celebrates its 100th anniversary. McDonald’s has discontinued its plant-based burger, the McPlant, in the U.S. due to lackluster performance.

Entertainment

A catchy song from North Korea is going viral on TikTok, despite its propaganda origins.?

For Fun

The Rubik's Cube celebrates its 50th anniversary this year, continuing to be a popular puzzle worldwide.

This is just a few of the articles this week. The full news summary can be found at https://www.curatedcompositions.com/p/this-week-in-the-news-6-jul-24