Anna's Daybreak News

_{Just facts, you think for yourself}

Friday, 5:21 AM

November 8, 2024

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

Federal Reserve Cuts Interest Rates

The Federal Reserve lowered its key interest rate by a quarter-point, now at approximately 4.6%. This rate cut follows a previous half-point reduction in September.

Inflation, which peaked at 9.1% in mid-2022, fell to 2.1% as of September. However, the service sector, particularly restaurants, faces persistent inflation, with food services rising 3.6%.

Meanwhile, overall consumer prices for goods decreased by 1.2%. Jobless claims rose slightly to 221,000 and only 12,000 jobs were added in October.

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Mortgage Rates Surge 

Mortgage rates in the US reached a four-month high. The average rate on a 30-year fixed mortgage climbed to 6.79% from 6.72% last week. The sixth consecutive week of increases. Though still lower than last year's average of 7.5%.

In addition, the 15-year fixed-rate mortgage increased to 6% from 5.99%. A year ago, it averaged 6.81%.

Mortgage applications fell 10.8% last week, marking the sixth week of decline. The decrease in refinancing applications was 19%, yet this figure remains 48% higher than last year.

The yield on the 10-year Treasury note surged to 4.36%, up from 3.62% in mid-September.

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Nissan's Sales Slump

Nissan's global sales dropped 3.8% to 1.59 million vehicles in the first half of the financial year, with a 14.3% decline in China. US sales fell by 3%, totaling around 449,000 vehicles.

Nissan plans to reduce its global workforce by 9,000 jobs, which is 6.7% of its 133,580 employees. They aim to cut costs by 400 billion yen ($2.6 billion) this fiscal year.

Globally, Nissan will decrease its production capacity by 20%. For the second quarter, operating profit plummeted 85% to 31.9 billion yen. The company also revised its profit outlook down 70% to 150 billion yen ($975 million).

To raise funds, Nissan will sell up to 10% of its stake in Mitsubishi Motors, potentially generating 68.6 billion yen ($445.45 million).

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Germany's Government Collapse

Chancellor Olaf Scholz's coalition government collapsed. The conservative opposition, led by Friedrich Merz of the Christian Democrats (CDU), demands an immediate no-confidence vote.

This call comes as the CDU/CSU alliance leads polls with 32%, surpassing the combined support of Scholz's Social Democrats (SPD) at 15%, the Greens at 11%, and the Free Democrats (FDP) at 5%.

The coalition's breakdown followed Scholz's dismissal of Finance Minister Christian Lindner, leading to a precarious minority government reliant on case-by-case support from Merz's party.

Meanwhile, Alternative for Germany (AfD) gained 18% support in the latest poll, positioning it as the second strongest party, though it faces coalition exclusion from other parties for its perceived far-right tendencies.

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The Rise of Brain Organoids

Researchers have created brain organoids from stem cells, mimicking human brain function. In the last 15 years, scientists have advanced from a simple intestinal organoid to complex brain models.

The progress includes "Dishbrain," a system controlling a paddle in the video game Pong. At 60 days old, some organoids displayed optical vesicles. Which are precursors to eyes

These advancements could transform how researchers study neurological conditions such as Alzheimer’s and fetal alcohol syndrome using human tissues instead of animal models.

Understanding when consciousness may emerge in these organoids remains incomplete. Some studies show brain waves similar to those in preterm infants after 10 months of development.

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“Technology can degrade every aspect of a sucker’s life while convincing him that it is becoming more ‘efficient’.”

Baked with love,

Anna Eisenberg ❤️