Anna's Daybreak News

TGIF news aficionados ! Saddle up, fellow explorers, as we venture into the wild terrain of breaking news, untangle the web of headlines, and bring you the most intriguing stories from the uncharted territories of current events.🗞️🌄

• At least 53 people have been killed and thousands of others affected by wildfires on Maui.


• Tourists were evacuated from the island and asked to stay away from the fires.


• Scientists believe a flash drought likely played a factor in the intensity and spread of the fire.


• Amidst the ash of destruction, visitors of Lahaina are left awestruck by the devastation of the fire.


• The inferno in the resort town of Lahaina has destroyed as many as 1,000 buildings and turned thousands homeless.


• More than 2 million tourists visit Lahaina each year, and the town's reconstruction is estimated to take many years and billions of dollars.


• Search and rescue teams are still combing through the ruins and local volunteers are offering assistance to the victims.


• From paradise to pandemonium, the Hawaiian fire has reshaped the lives of many in more ways than one.
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• Core CPI -- a key measure of US consumer prices -- rose 0.2%, marking the smallest back-to-back gains in more than two years.


• The increase was led by shelter prices, while used vehicle prices and airfares decreased and grocery prices rose.


• The modest rise provides hope that the Federal Reserve can tame inflation without sparking a recession.


• US core goods inflation slows down and only rents prove stubbornly sticky.


• The US budget deficit for July came in at $221 billion - double market expectations and taking the year-to-date deficit beyond $1.6 trillion.


• This has resulted in choppy trade amongst FX markets, with the dollar on course for a weekly gain and the yen eyeing a weekly pullback of 2%.


• For now, it appears that the Fed's powers of persuasion have paid off, but the game of brinkmanship will carry on.
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• President Joe Biden called China a "ticking time bomb" due to its declining economy


• China may be entering an era of much slower growth with stagnant consumer prices and wages


• The United States has been fighting high inflation and has seen a robust labor market


• Biden has signed an executive order to prohibit US investments in certain Chinese technologies


• President Joe Biden has referred to China’s President Xi Jinping's government as “bad folks” for its economic issues.


• The US leader also claimed that China is in “trouble” because its growth has slowed and it had the “highest unemployment rate going.”


• In addition, Biden criticized the Belt and Road Initiative due to the high levels of lending to developing economies associated with it.


• Uncle Joe didn't mince words when referring to Winnie de Xi's regime's handling of China's Economy
Source: Read More

• The US Supreme Court has granted the Biden administration's challenge of the legality of Purdue Pharma's bankruptcy settlement.


• Purdue's Sackler family owners would have been shielded from lawsuit liability in exchange for paying up to $6 billion to settle cases over their role in the country's opioid epidemic.


• At issue is whether US bankruptcy law allows Purdue's restructuring to include legal protection for the Sacklers, who have not filed for personal bankruptcy.


• The justices halted proceedings for now and will hold oral arguments in December. It is about time heads start rolling for those who caused this opioid epidemic
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Baked with love,

Anna Eisenberg ❤️