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Anna's Daybreak News

_{Just facts, you think for yourself}

Friday, 5:12 AM

December 27, 2024

Good morning news friend! Keep pace with the latest happenings, staying connected to the shifting tides of events around you. 📰🌟

China’s Workforce Decline

As of the end of 2023, Chinese financial companies employed 12.4 million people, down 32% from five years prior. Property developers have also seen their workforce shrink by 27%, dropping to 2.7 million.

This stems from a housing market downturn and intensified government regulations. The property sector faces its worst crisis, with many developers, including Country Garden Holdings Co., unable to meet financial obligations.

Housing minister Ni Hong announced that insolvent firms should either declare bankruptcy or restructure. The government now aims to inject liquidity into struggling residential projects.

The construction workforce decreased by 12% to 51 million. China's 2023 GDP was revised upward by 2.7%, adding 3.4 trillion yuan.

Source: Read More

Israel Strikes Houthi Territory

Israel intensified its military campaign targeting Houthi positions in Yemen. The Israeli Air Force struck Sanaa International Airport and ports in Hodeida, Al-Salif, and Ras Qantib.

WHO director Tedros Adhanom Ghebreyesus reported he was near the airport during the strike, which damaged the air traffic control tower and lounge. He confirmed an injured crew member and that he was safe.

As Israel continues to respond to Houthi missile attacks on its territory, Prime Minister Benjamin Netanyahu stated, “We are just getting started with them.”

Source: Read More

Mortgage and Unemployment Trends

Mortgage rates in the US hit 6.85%, up from 6.72%, the highest level since July. The average for 30-year fixed loans rose again to 6.95%. Climbing from a two-year low of 5.89% in September.

In the job market, new unemployment claims fell to 219,000, down by 1,000 from the previous week. This figure aligns with the annual average of 220,000 claims.

However, unemployment duration has risen to an average of 23.7 weeks, the longest since April 2022. Continued claims also increased, reaching 1.910 million, the highest since November 2021.

Economists predict 170,000 new jobs added in December, down from 227,000 in November.

Source: Read More

Holiday Shopping Surge

Holiday retail sales rose 3.8% year-over-year, driven by online shopping. From November 1 to December 24, online sales climbed 6.9%, higher than the 2.9% increase in in-store sales.

Jewelry sales grew by 4%, electronics by 3.7%, and apparel by 3.6% compared to last year. The final five days before Christmas accounted for 10% of total holiday spending.

Overall spending reached approximately $979.5 billion to $989 billion. Black Friday and Cyber Monday week saw a 3.7% increase in spending.

Higher-income households, earning over $100,000 annually, drove the holiday spending surge. The median U.S. household income was about $81,000 in 2023, with 40% earning at least $100,000.

Source: Read More

Finland Seizes Russian Tanker

Finnish authorities are investigating the Eagle S, an oil tanker linked to Russia’s shadow fleet, for severing the Estlink 2 electricity cable between Finland and Estonia. The incident occurred in the Gulf of Finland on Christmas Day.

The Eagle S, registered in the Cook Islands, was seen passing over the subsea cable when it disconnected. It is also being investigated for possibly cutting three communication cables in the region.

Last year, a Chinese vessel cut a gas pipeline between Finland and Estonia. Another Chinese ship severed two data cables last month but faced limited scrutiny due to jurisdictional challenges.

The Eagle S voluntarily stopped in Finnish waters, simplifying jurisdiction. Ownership of the tanker remains unclear. Finnish and Estonian electricity supplies remain unaffected. The ship was en route from Russia to Egypt.

Source: Read More

Acetaminophen Fuels Risk-Taking?

A study involving over 500 college students tested the effects of a single 1,000 mg dose of acetaminophen against a placebo.

Participants engaged in a balloon-pumping task to earn imaginary money. Those taking acetaminophen pumped more aggressively, leading to higher rates of balloon bursts compared to the placebo group.

The study indicated that acetaminophen might diminish negative emotions related to risk. Surveys conducted alongside the balloon task showed the medication correlated with increased risk-taking.

Acetaminophen, known as paracetamol and sold under brands like Tylenol and Panadol, is consumed weekly by nearly 25 percent of the US population.

Source: Read More

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“I wonder how many people would seek excessive wealth if it did not carry a measure of status with it.”

Baked with love,

Anna Eisenberg ❤️