Anna's Daybreak News

Tuesday, 5:17 AM

September 3, 2024

Good morning news friend! Keep up with the latest updates, staying tuned to the shifting currents of today’s events. 📰🌟

Elon Musk vs Brazil

The Brazilian Supreme Court issued a ban on X(Twitter) after Musk disregarded previous orders, including naming a legal representative for the platform in the country.

The ban affects around 40 million users in Brazil. Justice Alexandre de Moraes, who leads the action against X, imposed fines exceeding $3 million for non-compliance.

Starlink (Musk’s satellite internet company) refused to comply with the court order to block access to X. Its assets in Brazil are now frozen.

Meanwhile, the court threatens daily fines of 50,000 reais (about $8,900) for VPN usage to bypass the ban.

Source: Read More

China's Economy Free Fall is Getting Worse

In August, Chinese factory activity shrank for the fourth consecutive month, setting the purchasing managers' index at 49.1.

The residential property market also faltered, with new-home sales dropping 26.8% year-over-year, totalling 251 billion yuan ($35.4 billion). 

Economists at UBS and JPMorgan predict China will miss its 5% growth target without increased government support. Year-to-date data show tax revenues may also fall short.

China is considering allowing homeowners to refinance up to $5.4 trillion in mortgages.

Source: Read More

AI May Not Steal Your Job After All

Economist Nick Bunker emphasized that while AI will impact many jobs, it is unlikely to cause mass unemployment.

Historically, technology creates new roles as it replaces old ones. A study revealed that 60% of jobs in 2018 did not exist in 1940 due to technological advancements.

Alorica, a global customer-service company, now uses an AI tool for translation, allowing its representatives to communicate in 200 languages and 75 dialects.

AI can boost productivity—up to 34% for inexperienced workers. Alorica representatives have reduced call handling time from over eight minutes to just six.

Source: Read More

The Rise of Dynamic Pricing

Dynamic pricing, also called yield management, allows companies to adjust prices in real-time. They respond instantly to demand, ensuring they get the highest possible price.

This system, widely known in travel, has now reached concerts. Last week, tickets for the Oasis reunion concert surged from £150 ($197) to £355 within hours. 

According to experts, this method maximizes profits but raises concerns about accessibility for fans.

Source: Read More

“Those who can’t do, shouldn’t teach”

Baked with love,

Anna Eisenberg ❤️