Anna's Daybreak News

Thursday, 5:13 AM

September 5, 2024

Good morning news friend! Stay informed as events unfold, keeping up with the ever-changing news. 📰🌟

Tax Policy Election Brawl

Harris’ proposed policies include a $25,000 down payment assistance for first-time buyers, a $6,000 tax credit for new parents, increase tax deductions for new small businesses from $5,000 to $50,000 and 28% cap gains tax.

Trump's approach focuses on cutting corporate taxes from 21% to 15%, eliminating taxes on tips, eliminating tax on Social Security income, and imposing tariffs on foreign goods.

Economists project Harris' plan will add $2.3 trillion to the national debt in 10 years, while Trump's will add $6 trillion.

Source: Read More

US Job Openings Fall

In July 2024, there were 7.7 million job openings, down from 7.9 million in June. This is the lowest level since December 2020.

Open positions have gradually declined from nearly 8.8 million in January.

Layoffs increased by 202,000 to 1.76 million, the highest since March 2023. Hiring saw a rise to 5.5 million, up from 5.2 million in June.

There are still approximately 1.1 job vacancies for each unemployed person. This is a decline from over 2 in March 2022.

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Biden to Block Nippon Steel’s $14.9 Billion Bid for US Steel

President Biden is set to block Nippon Steel’s attempt to purchase US Steel for $14.9 billion due to national security concerns.

This decision comes amidst rising scrutiny from the Committee on Foreign Investment in the United States (CFIUS). There is concern about job security and domestic production.

US Steel shares fell over 22% following the announcement, dropping to around $27.75— a decline from $47.96 at the start of the year.

Biden emphasized the need for US Steel to remain American-owned, a sentiment echoed by Vice President Harris and former President Trump.

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Short Seller Hindenburg Strikes AI Hype

Hindenburg Research, a short-selling firm, targeted two companies: Super Micro and iLearningEngines.

Hindenburg accused Super Micro of accounting manipulation and criticized its governance. The company previously faced SEC charges and a $17.5 million settlement. Super Micro’s stock plunged 26%.

Meanwhile, Hindenburg alleged that iLearningEngines misled the SEC about its partners and revenue, and noted the lack of actual industry presence. They predict it won’t last as a public company.

Previously, Hindenburg targeted the Adani Group and Icahn Enterprises.

Source: Read More

“Never say NO twice if you mean it”

Baked with love,

Anna Eisenberg ❤️