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Anna's Daybreak News

Tuesday, 5:17 AM

September 17, 2024

Good morning news friend! Stay connected to the latest updates, following the ever-evolving stream of events. 📰🌟

TikTok's Most Important Two Hours of its Life

A federal panel of judges evaluated for 2 hours a law that could force TikTok’s owner, ByteDance, to sell the app by January 19 or face a ban. 

TikTok’s lawyer, Andrew Pincus, argues that targeting TikTok for hypothetical future risks is unconstitutional. He claimed divestment is unrealistic, as Beijing would block the sale of TikTok’s core algorithm.

The judges challenged TikTok’s claims that Congress overstepped its authority and that the law unfairly targets TikTok.

The judges also questioned the government about potential First Amendment violations if TikTok is banned. And its effects fro 170 million US TikTok users.

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Fed’s Reverse Repo Usage Plummets Below $250 Billion

The Federal Reserve's reverse repo facility usage fell below $250 billion for the first time since 2021.

The reverse repurchase agreement (RRP) facility serves banks and investment funds to park their funds and earn interest.

On Monday, just 44 counterparties deposited a total of $239.4 billion at this overnight facility. A decline from the peak of $2.6 trillion reached in December 2022. 

The number of participants also hit a low, with 44 counterparts, the fewest since June 2021.

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Amazon Tightens the Belt

Amazon's CEO, Andy Jassy, announced that starting in January, all employees must return to the office five days a week. Previously, workers only needed to be in the office three days.

Jassy stated that Amazon has grown too large and complex. To combat this, he will require each department to increase the ratio of individual contributors to managers by 15% by March 2025.

Additionally, Amazon will introduce a bureaucracy tipline for employees to voice concerns about unnecessary processes.

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J&J's $260 Million Verdict Overturned

A judge in Oregon overturned a $260 million verdict against Johnson & Johnson (J&J). The ruling comes from a lawsuit filed by Kyung Lee, who claimed her mesothelioma was caused by inhaling asbestos-tainted talc powder.  

Judge Katharine von ter Stegge ordered a new trial, stating that the original verdict was flawed.

Currently, J&J faces more than 62,000 claims related to its talc products, primarily linked to ovarian cancer and a few mesothelioma cases.

J&J plans to have a subsidiary file for bankruptcy to settle other ovarian cancer lawsuits for about $9 billion.

Source: Read More

Microplastics Detected Human Brains

A study published in JAMA Network Open showed microplastics in the brain tissue of eight out of fifteen cadavers examined.

These individuals, aged between 33 and 100, demonstrated microplastics concentrated in the olfactory bulb, which processes smell. 

Earlier studies indicated that the brain could contain up to 20 times more microplastics than other organs, potentially making up 0.5% of its mass. Researchers found 16 plastic types in the examined brains, ranging from 5.5 to 26.4 micrometers.

This raises concerns regarding potential links to neurodegenerative diseases. Studies show that humans may ingest about 50,000 microplastic particles annually,

Source: Read More

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Anna Eisenberg ❤️