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Anna's Daybreak News

_{Just facts, you think for yourself}

Monday, 5:21 AM

November 4, 2024

Good morning news friend! Keep track of the latest updates, staying tuned to the ongoing shifts in today’s events. 📰🌟

Lackluster October Jobs Report

In October, the US added 12,000 jobs, the lowest increase since December 2020. The expectation was 100,000 jobs. Unemployment rate remained at 4.1%, while the broader unemployment metric stayed at 7.7%.

Large job losses resulted from a strike at Boeing, contributing to a decrease of 44,000 jobs in the manufacturing sector, which overall lost 46,000 positions.

Revisions from previous months showed a total loss of 112,000 jobs for August and September. The establishment survey's response rate dropped to 47.4%, the lowest since January 1991.

Average hourly earnings rose by 0.4%, a yearly growth of 4%. The healthcare sector led job additions with 52,000 new positions, while government jobs increased by 40,000.

Source: Read More

Harris and Trump Race in Swing States

In Pennsylvania, Trump has a slight edge in Pennsylvania’s polling averages, leading by 0.2 points. In Michigan, the FiveThirtyEight polling average indicates Harris with a slim lead of 0.7 points.

Arizona shows Trump leading by 49%-45% in a New York Times/Siena survey. Polls reveal Trump’s 2.6-point advantage in FiveThirtyEight’s state average.

In North Carolina, FiveThirtyEight's weighted polling average shows Trump up by 1.3 points. In Wisconsin, polling average indicates Harris leads by 0.8 points.

Georgia averages show Trump leading by 1.5 points. In Nevada, FiveThirtyEight’s state average shows a Trump lead by 0.5 points.

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TGI Fridays Files for Chapter 11 

TGI Fridays filed for Chapter 11 bankruptcy. The Dallas-based chain had 163 restaurants remaining in the US compared to 269 last year. It closed 36 locations in January and many more recently.

The company lists assets and liabilities between $100 million and $500 million. It currently operates 39 corporate-owned restaurants and has secured financing to continue operations.

TGI Fridays’ sales dropped by 15%, totaling $728 million in 2023, down from the previous year.

Founded in 1965, TGI Fridays once boasted 601 locations and $2 billion in revenue at its peak in 2008.

Source: Read More

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Big Oil Ramps Up Production

Exxon’s oil output rose by 24% due to its $60 billion acquisition of Pioneer Natural Resources. Chevron increased production by 7%.

Shell and BP also joined the trend, raising output by 4% and 2%, respectively. This surge comes as OPEC considers increasing crude supply, placing downward pressure on oil prices.

Over the past six months, prices have dropped 12%, largely due to weak demand from China. US oil production now exceeds Saudi Arabia by 50%.

Up to 5 million barrels per day may become available by 2025. Analysts forecast prices could fall below $70 per barrel. Exxon’s production costs in Guyana and the Permian are under $35 per barrel.

Source: Read More

AI Designing Chips for AI

Historically, chip design relied on skilled engineers. For years, the best chips had millions of transistors—like Nvidia's Blackwell chip, which contains 208 billion.

Traditional design took months and involved costly simulations. Engineers aimed for 99% accuracy before investing billions in manufacturing.

Now, companies like Synopsys and Cadence use reinforcement learning to quickly analyze millions of design options, outperforming human engineers.

Synopsys recently launched Synopsis Copilot to facilitate chip design through natural language queries. Cadence introduced ChipGPT to streamline the review process.

Source: Read More

“The solutions (on balance) need to be simpler than the problems.”

Baked with love,

Anna Eisenberg ❤️