Anna's Daybreak News

Thursday, 5:13 AM

October 3, 2024

Good morning news friend! Keep up with the latest developments, staying tuned to the ever-shifting flow of events. 📰🌟

White House Backs Port Strike

A strike by 45,000 dockworkers has affected 36 ports along the East Coast and Gulf Coast. Shipments of essential goods, including food and automobiles, have come to a standstill.

President Biden is pressuring port employers to negotiate. He highlighted their 800% profit growth since the pandemic and emphasized the urgency of reaching a fair deal.

The workers seek a $5-per-hour wage increase over six years and protections against automation. Retailer preparing for the winter holiday season say up to 15% of toy shipments are delayed.

Manufacturers and retailers urge President Biden to use the Taft-Hartley Act, which allows the president to request an 80-day cooling-off period during labor disputes.

Source: Read More

Private Payrolls Surge in September

In September, US private payrolls grew by 143,000. An increase from 103,000 jobs added in August.

The construction sector contributed 26,000 jobs, while leisure and hospitality led with 34,000 new positions. Education and health services added 24,000 jobs. 

However, small businesses shed 8,000 jobs. The information sector lost 10,000 jobs, the only sector to report a loss.

Wage growth slowed, with pay for job switchers rising only 6.6%, down from 7.3% in August. Wages for workers remaining in their roles saw a slight dip to 4.7%.

 Source: Read More

OpenAI’s $6.6 Billion Power Move

OpenAI secured $6.6 billion in new funding, boosting its valuation to $157 billion, the highest in Silicon Valley’s history.

Thrive Capital led the funding round with a substantial $1.3 billion. Other investors include Nvidia, Microsoft, SoftBank, Khosla Ventures and Fidelity .

As part of the deal, OpenAI requested that investors avoid funding competitors like Elon Musk’s xAI and Anthropic. This exclusivity policy is rare in the valley.

CEO Sam Altman also denied claims that he will gain a $10 billion equity stake from the company’s transition to a for-profit structure, dismissing them as “ludicrous.”

Source: Read More

Tesla's Q3

In Q3, Tesla delivered 462,890 vehicles, reflecting a 6.4% increase from last year. Strong demand in China helped drive these numbers.

Tesla produced 443,668 Model 3/Y and delivered 439,975. Other models accounted for 26,128 vehicles produced and 22,915 delivered.

Tesla has delivered 1,293,656 vehicles this year. Last year's total was 1.81 million vehicles. Their market share has dipped to 44% of US electric vehicle sales, down from 50% last year.  

Elon Musk will unveil a prototype of a fully autonomous robotaxi on October 10. Tesla will invest $10 billion in AI research this year.  

Source: Read More

Big Food's Ozempic Shift

Companies like Nestlé and Conagra are launching products tailored for Ozempic users. Nestlé offers frozen meals high in protein, while Conagra highlights its Healthy Choice line as appealing for those on GLP-1 medications. 

Roughly 30 million US adults have used Ozempic, and about half continue their treatment.

This market shift has led companies to adapt their offerings. For example, Campbell Soup is promoting easily digestible foods, which align with the needs of GLP-1 users. 

Source: Read More

“Much of the difference between what is work and what is leisure is branding”

Baked with love,

Anna Eisenberg ❤️