Anna's Daybreak News

Tuesday, 5:16 AM

October 8, 2024

Good morning news friend! Stay in the loop with timely updates, following the rapid shifts in today's events. 📰🌟

Hurricane Milton Jumps to Category 5

Hurricane Milton escalated into a Category 5 storm with winds reaching 160 mph (257 kph) heading toward Florida.

The eye of Milton could hit Tampa Bay as early as Wednesday. Officials warn of an 8- to 12-foot storm surge. Some areas expecting up to 15 inches of rain.

Evacuations are underway, marking the largest since Hurricane Irma in 2017, when nearly 7 million Floridians evacuated.

Florida Governor Ron DeSantis has suspended tolls to facilitate evacuations. Crews are rushing to clear debris from Helene to prevent potential flying projectiles during Milton.

Source: Read More

Consumer Borrowing Trends

In August, US consumer borrowing rose by $8.9 billion, down from a revised $26.6 billion in July. Economists expected a $13.2 billion increase.

Credit card balances fell by nearly $1.4 billion, the largest drop since March 2021. Credit card interest rates hit a record 23.37%.  Delinquency rates remain at 3.2%.

Revolving credit decreased at a 1.2% rate. In contrast, non-revolving credit, which includes auto and student loans, increased by $10.3 billion or 3.3%.

Furthermore, the savings rate reached 4.8% in August, higher than previously reported.

Source: Read More

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BP and Chevron Shift Strategies

BP dropped its goal to cut oil output by 25% by 2030. This follows BP's previous commitment to reduce output by 40% in 2020.

Now, the company plans to invest in the Middle East and the Gulf of Mexico, including new projects in Iraq and Kuwait.

Meanwhile, Chevron is selling its Canadian assets for $6.5 billion to Canadian Natural Resource. Chevron plans to raise $10 billion by 2028.

Chevron's Canadian assets produced 84,000 barrels of oil equivalent per day in 2023.

Source: Read More

Amazon's Antitrust Battle Heats Up

The FTC alleges that Amazon's algorithm increased prices for US households by over $1 billion.

Amazon claims it stopped using this program in 2019. The company argues that the FTC has not provided evidence of consumer harm. 

Judge John Chun ruled that he cannot dismiss the case based on Amazon's assertions at this stage. He noted that the company's claims about benefiting competition will be evaluated later.

A federal judge dismissed some claims from four states: New Jersey, Pennsylvania, Maryland, and Oklahoma. 

Source: Read More

The “Merchant of Death” is Back

Viktor Bout, the infamous arms dealer known as the "Merchant of Death," returned to business after his release from a US prison in a swap for basketball star Brittney Griner.

He is negotiating a $10 million arms deal with Yemen’s Houthi militants. In August, Houthi representatives visited Moscow to discuss purchasing AK-74 rifles.

Bout was arrested in 2008 during a US sting operation and served 12 years in prison. Since his release, he joined a pro-Kremlin party and won a local assembly seat. 

 Source: Read More

“For many people, it takes a lot of preparation to learn to become ordinary.”

Baked with love,

Anna Eisenberg ❤️