Producer Inflation Slows

In July, US producer prices rose by 0.1%, a slowdown from June’s 0.2% increase. A year-on-year increase of 2.2%, the lowest since March.

The Labor Department’s report highlights a fall in service prices, down 0.2%, the largest drop since March 2023. Indicating a decrease in businesses' pricing power.

Goods prices rebounded by 0.6%, mainly due to a 2.8% rise in gasoline prices. Core wholesale prices remained stable, with a year-over-year increase of 2.4%.

Consumers still feel the strain of higher prices, with inflation nearly 19% above pre-2021 levels.

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Home Depot Sees Sales Slowdown

Home Depot reported $43.2 billion in sales for Q2 2024, a slight rise of 0.6% from the same period last year. This total includes $1.3 billion from the acquisition of SRS Distribution Inc.

However, comparable sales fell by 3.3%, with US sales down 3.6%. With a projected fall of 3% to 4% in sales for the year.

Operating income reached $6.5 billion, slightly lower than $6.6 billion last year. Net earnings also dipped to $4.6 billion, or $4.60 per share, compared to $4.7 billion, or $4.65 per share, in Q2 2023.

CEO Ted Decker noted that people are holding off on home improvement projects, opting instead to save money.

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Google Launches Gemini Live

Google launched Gemini Live for Android. This voice assistant allows users to engage in natural, hands-free conversations with the AI.

It supports interruptions, meaning you can cut in while the assistant is speaking. This feature echoes enhancements made by ChatGPT.

Besides voice support, Gemini Live includes new functionalities. It integrates with apps like Keep and YouTube, offering real-time context awareness.

Gemini Live is available in English and aimed at Gemini Advanced subscribers.

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Data Centers in Land, Sea and Space?

By 2030, data centers will consume 8% of all US electricity. Every three days, a new data center opens globally.

On land, companies are turning to geothermal, solar, and nuclear energy to ensure cleaner operations. Microsoft’s “Stargate” will cost $100 billion and consume as much power as a large nuclear plant.

Underwater data centers, like Microsoft’s Project Natick, showcase cooling efficiency, relying on natural ocean temperatures.

Companies like Thales Alenia Space study the feasibility of deploying centers in space, leveraging solar energy and thermal methods to cool equipment.

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