Anna's Daybreak News

Good morning news aficionados! Welcome to our news roundup, where we usher in a new day of fresh headlines, intriguing stories, and thought-provoking insights 📰🌟

• As interest rates rise, fewer people are willing to pay for investment advice.


• The traditional finance industry has recently hosted a conference in Huntington Beach, California in an attempt to add some life to the sector.


• Generational shifts and the ubiquity of technology have challenged the industry to keep up


• Many finance professionals fear that financial advice is becoming less and less necessary in the modern market.


• The future of finance is uncertain - will traditional advice be replaced by automation and algorithms?
Source: Read More

• Bernadette Walker, a renowned economist at Bloomberg, discusses the impending risk of a US recession, irrespective of the government avoiding a shutdown.


• Walker highlights that the ongoing major auto strike, the imminent return of student-loan repayments and the looming shutdown threat by year end could likely erode GDP growth by a whole percentage point in Q4.


• The report suggests that these impending risks may hamper the Federal Reserve's efforts to accomplish a soft landing of the economy.


• The article emphasizes on the need for preparedness for a recession despite the government's efforts to avoid a shutdown.


• In a conclusion that has the subtle charm of a sledgehammer, it seems that the U.S. economy is not just tiptoeing around a minefield, but instead performing an ill-advised tap dance in the middle of it.
Source: Read More

• A civil fraud trial against former President Donald Trump has commenced, with the former president being accused of accumulating over $1 billion through deceit regarding his real estate properties.


• New York's Attorney General Letitia James is pushing for a hefty fine of at least $250 million, a lasting prohibition on Trump and his sons running businesses in New York, and a five-year ban on commercial real estate for Trump and his organization.


• The crux of the case revolves around allegations that Trump considerably overstated the value of his assets, including high-profile properties like his Trump Tower penthouse and his Mar-a-Lago estate among others, thereby inflating his net worth by up to $2.2 billion from 2011 to 2021. This reportedly resulted in favorable bank loans and lower insurance premiums.


• In a twist we've come to expect from the Trump era, our former President continues to turn trials into fundraising opportunities and verbal sparring matches. He claims he's defending his family and reputation against the "corrupt tyrants" of New York.
Source: Read More

• Tesla announced a sales surge of 27%, selling 435,059 vehicles from July to September, up from 343,830 from last year - however, this fell short of analyst projections.


• Despite the majority of sales being Model 3 and Model Y, and price slashing to attract more customers, the sales marked a step back from Tesla's previous quarter deliveries of 466,140 vehicles.


• The company's sales decline was attributed to downtime taken to upgrade its factories; the company manufactured 430,488 vehicles within the quarter, slightly less than the amount sold.


• Despite reduced prices, Tesla's older models S and X faced a sales decrease of 14% year over year with 15,985 units sold. To achieve Elon Musk's goal of 50% annual sales increase, Tesla would have to sell 1.97 million vehicles by the end of this year.


• While Tesla’s supercharged sales race might not have made a pit stop at victory lane, Elon Musk is still charging ahead towards his ambitious finish line. Question is, will he manage to overtake his own targets or will he find them too electrifyingly elusive?
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Baked with love,

Anna Eisenberg ❤️