Anna's Daybreak News

_{Just facts, you think for yourself}

Thursday, 5:17 AM

December 12, 2024

Good morning news friend! Stay close to the stories defining today, as the world continues to shift around us. 📰🌟

Consumer Price Spike Amid Record Deficit

In November, US consumer prices rose by 0.3%, marking the largest increase in seven months. Shelter costs, mainly from hotels and motels, contributed to nearly 40% of this rise. Rents increased only 0.2%.

Food prices surged by 0.4%, led by an 8.2% jump in egg costs due to avian flu. On a yearly basis, the Consumer Price Index (CPI) climbed 2.7%, following a 2.6% increase in October. Core inflation also rose by 3.3%.

Simultaneously, the US budget deficit hit a record $367 billion in November, up 17% year-over-year. Outlays of $669 billion were accompanied by receipts of $302 billion, a 10% increase.

Year-to-date, the deficit reached $624 billion, a 64% rise compared to the same period last year. The Federal Reserve remains poised to implement its third consecutive interest rate cut next week

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FBI Director to Step Down

FBI Director Christopher Wray announced his resignation effective at the end of President Biden's term in January 2024.

He noted that his departure aims to maintain the agency's focus on its mission amid political tensions.

During Wray's tenure the FBI investigated Trump's 2016 campaign and searched Mar-a-Lago in 2022 for classified documents.

President-elect Trump has indicated plans to nominate Kash Patel as Wray's replacement.

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Hamas, Israel Edge Closer to Cease-Fire Deal

Hamas has agreed to two key Israeli demands for a cease-fire in Gaza. Mediators report this could lead to a deal within days.

For the first time, Hamas has accepted Israeli forces staying temporarily in Gaza during a cease-fire. The group also provided a list of hostages, including US citizens, for potential release.

The proposed deal, backed by Cairo and the US, includes a 60-day cease-fire. Hamas could release up to 30 hostages, while Israel would free Palestinian prisoners and allow more humanitarian aid into Gaza.

Israel estimates 96 hostages remain in Gaza, with 30 presumed dead. Hamas has softened its stance after the killing of their leader Yahya Sinwar.

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Google Launches Gemini 2.0

Google unveiled Gemini 2.0. This update focuses on virtual assistants that can perform tasks with increased autonomy. CEO Sundar Pichai described this as the beginning of a "new agentic era."

These assistants can understand their environment and act on your behalf, under your supervision. The Gemini 2.0 Flash model comes as an upgrade with enhanced performance, especially in processing images and audio.

Google also introduced Project Astra, a universal agent that can converse using multiple languages and process information from smartphone cameras in real-time.

Moreover, Project Mariner and other tools aim to automate tasks in software coding and assist users in decision-making processes.

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ExxonMobil Doubles Down on Oil Expansion

ExxonMobil plans to increase its capital spending, committing $27–$29 billion in 2024 and up to $33 billion annually between 2026 and 2030. This year’s spending is $28 billion.

By 2030, the company expects to produce 5.4 million barrels of oil equivalent daily, up from 3.7 million in 2022. CEO Darren Woods described the strategy as putting Exxon "in a league of our own."

Exxon’s approach contrasts with industry trends. Chevron, its largest US competitor, announced plans to reduce capital spending for the first time since the pandemic.

Exxon’s announcement coincides with OPEC cutting its oil demand forecasts for 2024 and 2025. The cartel continues to limit supply to maintain prices amidst weak global consumption.

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Hope in the Fight Against HIV

Researchers have confirmed that a 53-year-old man in Germany, known as the “Duesseldorf patient,” is the fifth person cured of HIV via stem cell transplant.

This high-risk procedure is typically used for cancer treatment and replaces the immune system. The Duesseldorf patient's case was first announced in 2019, but it took five years to confirm his success.

Notably, he has no traceable viruses in his system after stopping medication for almost four years. The stem cell donors possessed a rare genetic mutation, CCR5, providing resistance to HIV.

The first HIV cure, known as the Berlin patient, occurred in 2009. Other cured patients include the London patient and two from City of Hope and New York, reported in 2022.

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“One of life’s machinations is to make some people rich and unhappy, that is, jointly fragile and deprived of hope.”

Baked with love,

Anna Eisenberg ❤️