Anna's Daybreak News

_{Just facts, you think for yourself}

Friday, 5:11 AM

October 25, 2024

Good morning news friend! Stay informed with the latest updates, staying in sync with the constantly shifting events around you. 📰🌟

Job Market Trends and Economic Insights

US jobless claims fell by 15,000 to 227,000. However, continuing claims rose by 28,000, reaching 1.897 million, the highest in nearly three years.

Additionally, new home sales rose by 4.1% in September, maintaining a median price of $426,300.

The October PMI output index increased to 54.3. This growth is supported by a rise in new orders, climbing to 54.2. Price increases for goods and services slowed.

The average 30-year fixed-rate mortgage increased to 6.54%, compared to 6.44% the prior week. This is the fourth consecutive week of rising rates.

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Russia's Role in Houthi Red Sea Attacks

Reports indicate that Russia supplied targeting data to Yemen's Houthis for strikes on Western vessels in the Red Sea.

This support, funneled through Iran's Islamic Revolutionary Guard Corps, aimed to enhance Houthi attacks that began in November 2023.

Since the onset of the Gaza conflict last year, Houthis have launched over 80 drone and missile strikes against merchant ships. The Red Sea once saw $1 trillion of cargo pass through annually. 

In retaliation, a US-led coalition conducted airstrikes in Yemen.

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The Future of US Lithium Production

The US Interior Department has approved the Rhyolite Ridge lithium mine in Nevada. This project, led by Australian company Ioneer, aims to quadruple US lithium output.

The approval follows six years of environmental and regulatory reviews. The project will create around 500 construction jobs and 350 permanent high-paying jobs. It will supply batteries for over 370,000 electric vehicles annually.

The Department of Energy is backing it with a $700 million loan. Additionally, $490 million comes from an equity investment by Sibanye Stillwater.

The project is set to commence operations by 2028 and will reduce dependence on Chinese lithium.

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TSMC's Arizona Breakthrough

TSMC’s (Taiwan Semiconductor Manufacturing Company) first plant in Phoenix is now producing chips with a yield rate 4 percentage points higher than its factories in Taiwan.

TSMC plans to invest $6.6 billion in government grants and $5 billion in loans to build three fabrication facilities in Arizona.

These funds will support the Biden administration’s aim to strengthen US semiconductor manufacturing.

Production is expected to ramp up , with the first facility aiming for volume production by early 2025.

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Menendez Brothers: A Potential Path to Freedom?

Los Angeles District Attorney George Gascón will recommend resentencing Lyle and Erik Menendez.

The brothers, convicted in 1996 for murdering their parents, face life in prison without parole. Gascón will suggest a new sentence of life with the possibility of parole.

The Menendez brothers, ages 21 and 18 at the time of the murders, shot their parents in August 1989. José and Kitty Menendez were killed in their home, suffering multiple gunshot wounds.

During the trials, claims of childhood abuse were not fully permitted as evidence, leading to their conviction. Interest in their case surged due the Netflix series "Monsters," which generated 506.5 million viewing hours.

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“Those who have nothing to prove never say that they have nothing to prove”

Baked with love,

Anna Eisenberg ❤️