Anna's Daybreak News

_{Just facts, you think for yourself}

Wednesday, 5:31 AM

November 20, 2024

Good morning news friend! Stay engaged with the unfolding stories that are reshaping the world around you. 📰🌟

Ukraine's ATACMS Missile Strikes in Russia

Ukraine fired US-supplied ATACMS missiles into Russian territory for the first time. The attack targeted an arms depot located about 110 kilometers (70 miles) inside Russia's Bryansk region.

Russia claims to have intercepted five of the six missiles launched. This follows President Biden's authorization for Ukraine to use these long-range missiles.

Meanwhile, Putin updated Russia’s nuclear doctrine, lowering the threshold for nuclear weapon use in response to perceived threats.

He suggests that attacks on Russian soil might prompt a nuclear response, framing the missile launch as a direct escalation involving NATO.

Source: Read More

Trump Taps Lutnick for Commerce

President-elect Donald Trump appointed Howard Lutnick, CEO of Cantor Fitzgerald, as Secretary of Commerce.

Lutnick advocates for tariffs to shield US industries and supports lower corporate taxes and increased energy production.

Over the past two years, he contributed over $75 million to Trump’s campaign efforts, including $1 million to a super PAC and $15 million raised at a fundraiser at his home.

Lutnick will directly oversee the Office of the United States Trade Representative.

Source: Read More

DOJ Going After Google

The US Justice Department plans to ask a federal judge to mandate the sale of Google’s Chrome browser. This follows a ruling that found Google guilty of monopolizing the search market, where it holds a 90% share.

Chrome controls approximately 61% of the US browser market and is critical for Google's ad revenue.

The DOJ aims to implement stricter regulations on Google's AI services and the Android operating system as well.

Google's vice president of regulatory affairs argues that this undermines American innovation. The judge, Amit Mehta, is set to hold a hearing in April, with a final ruling expected by August 2025.

Source: Read More

Walmart Signals Shopping Boom

Walmart reported adjusted earnings per share reached 58 cents, surpassing Wall Street's expectations of 53 cents.

US comparable sales increased 5.3%, beating forecasts of 3.61%. E-commerce sales jumped 22% in the third quarter, reflecting the growing demand for online shopping. It also lowered the annual fee for its Walmart Plus membership by 50%

For fiscal 2025, Walmart anticipates net sales to rise 4.8% to 5.1%, increasing from earlier predictions of 3.75% to 4.75%. The adjusted profit per share projections also improved, now between $2.42 and $2.47, up from $2.35 to $2.43.

Walmart's stock rose 4.5% to a record high of $87.88, with year-to-date gains of nearly 60%.

Source: Read More

Tax Tips for HENRYs: High earners, not yet rich

1. Max Out Retirement Accounts: Individuals can contribute up to $23,000 to 401(k)s in 2024, with an additional $7,500 for those over 50. For IRAs, the contribution limit is $7,000 ($8,000 for those over 50).

2. Utilize HSAs: The health savings account allows individuals to save $4,150 and families to save $8,300. HSAs offer triple tax benefits, including tax-free growth.

3. Backdoor Roth Conversion: This allows individuals to convert traditional IRA funds to Roth IRAs, enabling tax-free withdrawals in retirement.

4. Family Gifting: HENRYs can gift up to $18,000 per individual or $36,000 per couple tax-free. Gifting appreciated securities helps reduce future capital gains taxes.

5. Charitable Contributions: Donating appreciated securities through a donor advised fund maximizes tax benefits.

Source: Read More

Starship Soars and Splashes

SpaceX's Starship successfully completed its sixth test flight. The uncrewed mission launched from Texas and achieved a suborbital trajectory. The spacecraft reentered the atmosphere over the Indian Ocean and confirmed a soft splashdown.

Despite a planned precision landing for the Super Heavy booster, it diverted to the Gulf of Mexico, tipping over and exploding shortly after splashdown.

Key milestones included relighting one of the six Raptor engines and testing the vehicle's reentry capabilities.

SpaceX aims for long-duration flight tests and propellant transfer demonstrations in 2025. The Starship upper stage will enhance payload capacity from 1,200 tons to 1,500 tons.

Source: Read More

“True humility is when you can surprise yourself more than others; the rest is either shyness or good marketing.”

Baked with love,

Anna Eisenberg ❤️