Anna's Daybreak News

Tuesday, 5:36 AM

September 10, 2024

Good morning news friend! Keep pace with the latest updates, staying informed as events quickly evolve. 📰🌟

Consumer Borrowing Record Jump

US consumer borrowing surged by $25.5 billion in July. The largest increase since November 2022.

Revolving credit increased at an annual rate of 9.4% ($10.6 billion) mainly from credit cards, the highest jump in 5 months.

Non-revolving credit, which includes loans for vehicles and education rose by 4.8% ($14.8 billion), a record for over a year. Overall, consumer credit saw a seasonally adjusted annual growth of 6.0%.

The New York Fed reported that over 9% of credit card debt became newly delinquent, the highest in almost 12 years.

Source: Read More

Google’s New Antitrust Trial

The US Department of Justice launched a new antitrust trial against Google, focused on the company’s control of online ad technology that connects publishers with advertisers..

Prosecutors argue that Google keeps as much as 36 cents on every dollar processed through its ad exchanges. 

Google argues that the government's claims are outdated because their ad revenue dropped from $31.7 billion in 2021 to $31.3 billion in 2023. 

Previously, a judge ruled that Google illegally maintains a monopoly in online search.

 Source: Read More

Crypto Fraud on the Rise

In 2023, Americans lost over $5.6 billion to crypto fraud, a 45% increase from 2022.

The FBI received nearly 70,000 complaints related to financial fraud involving digital currencies like bitcoin and ether.

Investment fraud losses amount to $3.96 billion. Scammers often establish trust with victims through dating apps or social media before pitching fake investment opportunities.

They use illegitimate websites and apps to deceive their targets. In some cases, victims are lured into believing they can recover their lost funds through phony businesses.

Source: Read More

Apple’s iPhone 16 Launch

Apple revealed the iPhone 16, which features the A18 chip, customizable buttons and starts at $799.

Apple also unveiled the iPhone 16 Pro and Pro Max, starting at $999 and $1,199. Which include video features and audio for professional use.

Apple encourages upgrades with Apple Intelligence, which enhances Siri and the camera, and will launch in the US next month.

The Apple Watch Series 10 launched starting at $399. It detects sleep apnea and emergency falls. The AirPods 4, starting at $129 can transform into hearing aids. 

Source: Read More

“In real life exams, someone gives you an answer and you have to find the best corresponding questions”

Baked with love,

Anna Eisenberg ❤️