Anti-Clickbait News Summaries for October 28, 2024
Microsoft Excel marks 40 years of transforming lives through personal organization
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Microsoft Excel marks 40 years of transforming lives through personal organization
Microsoft Excel is celebrating its 40th anniversary, with many users sharing how it has impacted their lives. From managing finances to planning weddings, fans highlight its versatility and usefulness in everyday tasks.
Users like Mike Elwin and Lucy have utilized Excel for personal organization, including tracking medical results and managing long-distance relationship travel costs. Their experiences show how the software has become integral to their daily routines.
Others, like Nick Owen, have incorporated Excel into significant life events, such as weddings. Owen created a detailed spreadsheet to coordinate his large wedding, demonstrating the program's role in organizing complex events.
Source: https://www.theguardian.com/technology/2024/oct/28/microsoft-excel-spreadsheet-program-40-years
Volkswagen plans $4.3 billion cost-cutting strategy including pay cuts and plant closures
Volkswagen is preparing a $4.3 billion cost-cutting plan, which includes 10% pay cuts and suspending raises for the next two years. The company is also considering closing several plants in Germany and is in talks with the IG Metall union.
McDonald's confirmed that its beef patties are not responsible for a recent E. coli outbreak linked to Quarter Pounders. The company plans to resume sales of fresh beef patties and Quarter Pounders next week, as contaminated onions are believed to be the source of the outbreak.
Eli Lilly has received approval to sell its weight-loss drug, Mounjaro, in Hong Kong by the end of the year. This approval intensifies competition with Novo Nordisk, which is already selling diabetes drugs in the region but has not yet launched its weight-loss version.
Electoral College plays key role in deciding 2024 presidential election
The 2024 presidential election will be decided by the Electoral College, a group of 538 electors. Voters actually select electors pledged to their chosen candidate, not the candidate directly. This system has faced criticism, especially after instances where the popular vote winner lost the election.
Electoral votes are allocated based on each state's number of senators and representatives. Most states award all their electoral votes to the candidate who wins the popular vote, except Maine and Nebraska, which can split their votes. A candidate needs 270 electoral votes to win.
Electors meet on December 17 to cast their votes, which Congress counts on January 6. If no candidate receives 270 votes, the House of Representatives elects the President, while the Senate elects the Vice President. The Electoral College was established in the 12th Amendment, reflecting the founders' concerns about direct democracy.
Source: https://time.com/7096801/electoral-college-how-it-actually-works/
Poll shows most voters doubt Trump's concession in 2024 election
A recent poll shows that most voters believe former President Donald Trump will not concede if he loses the 2024 election. Only 30% think he would accept the results, while 73% believe Vice President Kamala Harris would concede.
Negotiations for a ceasefire in Gaza are not expected to advance significantly until after the U.S. presidential election. Talks began in Qatar but focused on restarting discussions rather than reaching a deal. Iran has vowed to respond to recent Israeli strikes.
McDonald's will resume selling Quarter Pounders after an E. coli outbreak linked to the burgers. The CDC reported 75 illnesses across 13 states, with one death. The source of contamination has not been confirmed, but slivered onions or beef patties are suspected.
Apple HomeKit expands smart home options with top devices for 2024
Apple HomeKit offers a range of smart home devices for 2024, enhancing convenience and automation for users. The Home app allows seamless control of various devices, including lights, locks, and thermostats, all manageable through voice commands with Siri.
Top picks include the HomePod Mini, a compact smart speaker with excellent sound and HomeKit integration, and the August Wi-Fi Smart Lock, which provides remote access and easy installation. The Eufy Indoor Cam 2K is highlighted for its affordability and compatibility with HomeKit Secure Video.
For lighting, the Lutron Caseta In-Wall Dimmer Switch and Philips Hue White bulbs are recommended for their reliability and features. The Nanoleaf Shapes - Hexagons offer colorful wall decor, while the WeMo Wi-Fi Smart Plug provides a budget-friendly option for smart home control.
Source: https://www.cnet.com/home/smart-home/best-apple-homekit-siri-devices/
Data centers adopt innovative energy solutions to meet AI power demands
Data center companies are addressing the growing power demands driven by AI and cloud computing through innovative energy solutions. They are increasingly relying on on-site renewable energy, nuclear power, hydrogen, and microgrids to reduce dependence on strained public grids.
Recent developments include Microsoftโs plan to power its data centers with energy from the reopened Three Mile Island nuclear plant and Googleโs agreement with Kairos Power for nuclear energy. Additionally, ECL is establishing a hydrogen-powered data center campus near Houston, showcasing the shift towards cleaner energy sources.
Liquid cooling technologies are also being adopted to manage heat from advanced processors more efficiently. These strategies, along with demand response programs, aim to optimize energy use and enhance grid stability, ensuring data centers can meet future energy needs sustainably.
Trump Media stock triples in value as traders bet on election win
Trump Media & Technology Group's stock has surged to nearly $8 billion, tripling in value over five weeks. This increase follows a significant drop in September, driven by speculation that Donald Trump will win the upcoming presidential election.
Despite generating only $837,000 in revenue in the second quarter, the stock is trading like a meme stock, influenced more by political sentiment than financial fundamentals. Analysts note that the valuation is extremely high compared to typical market standards.
The stock's volatility is expected to continue as the election approaches. If Trump wins, the companyโs value may rise further, but a loss could lead to a steep decline, with some predicting it could drop to a billion-dollar valuation.
Source: https://www.cnn.com/2024/10/28/business/trump-social-media-stock-election/index.html
Google set to report third-quarter earnings with strong revenue expectations
Alphabet, Google's parent company, will report its third-quarter earnings on Tuesday. Analysts expect revenues of about $86.4 billion, with U.S. revenues at $40.6 billion and international revenues at $45 billion. Earnings per share are projected to be $1.84.
In the second quarter, Google reported nearly $85 billion in revenue, marking a 14% increase year over year. The Cloud division also achieved over $1 billion in operating profit for the first time.
Google has been advancing its AI software, focusing on improving its Gemini chatbot's reasoning abilities. The company's shares have risen approximately 18% this year.
Source: https://www.yahoo.com/tech/google-reports-third-quarter-earnings-090000550.html
Automotive front-end module market set to reach $205.1 billion by 2032 driven by electric vehicle demand
The automotive front-end module market is projected to grow to $205.1 billion by 2032, with a compound annual growth rate (CAGR) of 5.07% from 2022 to 2032. This growth is driven by rising demand for electric vehicles and lightweight components.
Factors such as increasing environmental concerns and government support are expected to boost market expansion. The demand for lightweight vehicles is particularly significant, as these parts help reduce emissions and costs.
However, challenges like safety regulations and competition may hinder growth. Key players in the market include Hyundai Mobis, Faurecia, and Denso, among others.
Earnings week kicks off with major companies set to report financial results
The last week of October is considered the most important earnings week of the year. This period typically sees strong stock performance as companies report their financial results.
Analysts expect record stock buybacks during this time, which could influence market trends. Investors are closely watching these earnings reports for insights into company performance.
The focus is on major companies like Amazon and Nvidia, which are expected to report significant earnings. These results may impact overall market sentiment as the year comes to a close.
Euro may weaken if Trump wins US presidential election and imposes tariffs
If Donald Trump wins the US presidential election, he may impose significant tariffs, including a 10% tax on EU imports. This protectionist approach could strengthen the US dollar while putting pressure on the euro.
Analysts predict that these tariffs could lead to a divergence in monetary policy between the US and the Eurozone. The European Central Bank might need to lower interest rates to support growth, which could weaken the euro further.
The euro has already been declining, influenced more by economic data than electoral risks. If Trump's tariffs are implemented, the euro could face a prolonged downward trend against the dollar, impacting Europe's economic growth.
Robinhood launches presidential election derivatives trading for U.S. users
Robinhood has launched U.S. presidential election event contracts, allowing users to trade based on predictions for the upcoming election between Vice President Kamala Harris and former President Donald Trump. This feature is available to U.S. citizens only.
The new trading option is part of Robinhood's shift towards offering more complex financial products, including futures and index options, which were introduced earlier this month. These event derivatives allow speculation on specific outcomes without owning related assets.
This move comes as Robinhood aims to expand its services and compete with traditional brokerages. The company has seen its stock rise over 100% this year, driven by investor interest in new offerings and a focus on profitability.
Google releases open-source AI text watermarking tool SynthID
Google has made its AI text watermarking tool, SynthID, open-source. Developed by Google DeepMind, the tool subtly alters generated text to create a detectable signature that is not noticeable to humans.
This technology allows other AI developers to identify whether text comes from their own models. Google tested SynthID with its chatbot Gemini, finding no significant difference in response quality between watermarked and unwatermarked outputs.
In addition to text, DeepMind has also created watermarking tools for images and videos. These watermarks are embedded directly into the content and are designed to withstand common editing techniques.
Linux Foundation Decentralized Trust adds Mastercard and HKMA as new members
The Linux Foundation Decentralized Trust has welcomed new members, including Gala Games, Mastercard, Qila, and Stellar. The Hong Kong Monetary Authority has also joined as an associate member, bringing the total to eight central banks involved.
These members will help define technical requirements for Central Bank Digital Currencies and promote consistent development in global projects. Their contributions are highlighted during Hong Kong Fintech Week, particularly in sessions like the Project Ensemble roundtables.
The Member Summit marks the first gathering of the global community, focusing on new projects and collaborations. The event showcases a growing interest in decentralized technology and aims to enhance innovation in the financial sector.
Tax increases offset gas price decline and raise electricity costs in the EU
In the first half of 2024, average household electricity prices in the EU rose slightly to โฌ28.9 per 100 kWh, despite lower energy costs. This increase is attributed to higher taxes and reduced government subsidies.
Average gas prices fell by 7% compared to the same period in 2023, reaching โฌ11 per 100 kWh. Most EU countries saw a decrease in gas prices, with Lithuania experiencing the largest drop at 60%.
Electricity prices varied significantly across the EU, with Germany having the highest rates at โฌ39.5 per 100 kWh. In contrast, Hungary reported the lowest prices at โฌ10.9 per 100 kWh.
Source: https://ec.europa.eu/eurostat/web/products-eurostat-news/w/ddn-20241028-1
Decorative films and foils market projected to reach $32 billion by 2034 with 5.3% growth
The global Decorative Films and Foils Market is projected to grow from $19.1 billion in 2024 to $32 billion by 2034, with a compound annual growth rate (CAGR) of 5.3%. This growth is driven by increased use in both residential and automotive applications.
Demand for decorative films is rising due to trends in modern architecture and vehicle aesthetics. Companies are exploring new materials, including metallic options, and innovations like car wrap films that can significantly reduce CO2 emissions compared to traditional paint.
North America is expected to hold a 29.1% market share by 2034. The residential segment is forecasted to grow at a 5.7% CAGR, creating a $5.2 billion opportunity from 2024 to 2034.
Mark Zuckerberg's Meta shifts focus from metaverse to AI with strong sales growth
Mark Zuckerberg's Meta has shifted focus from the metaverse to artificial intelligence (AI) over the past three years. While the company invested heavily in virtual reality, it has seen more immediate success with AI, particularly in ad targeting, leading to stronger-than-expected sales.
Meta's Reality Labs division continues to develop metaverse technologies, but most of its recent investments are directed toward AI-enabled products, including smart glasses. The company has spent at least $10 billion on AI glasses, positioning itself ahead of competitors in this area.
Despite challenges in the metaverse market, Meta's recent advancements in AI, such as the Llama 3.1 model, have generated excitement. This pivot reflects a broader trend in tech, as companies increasingly integrate AI into their offerings.
Source: https://qz.com/facebook-meta-rebrand-mark-zuckerberg-metaverse-ai-1851680214
Microsoft prepares to report fiscal first-quarter earnings with lower revenue expectations
Microsoft will report its fiscal first-quarter earnings on Wednesday, with expected revenues of $64.57 billion. This is lower than the $64.7 billion reported in the previous quarter. Analysts predict earnings per share of $3.11.
The companyโs Productivity and Business Processes unit is projected to generate $23.6 billion, while the Intelligent Cloud unit is expected to bring in $26.8 billion. The Personal Computing unit is estimated to report $14.1 billion in revenue.
In November, Microsoft will launch a public preview for customers to create their own autonomous agents in Copilot Studio. The company also plans to introduce 10 new agents for its Dynamics 365 platform, aimed at various business sectors.
Source: https://qz.com/microsoft-earnings-q1-2025-wall-street-analyst-ai-cloud-1851681479
Bitcoin approaches $70,000 as gold hits record high of $2,733 per ounce
Gold prices have reached a record high of $2,733 per ounce, while Bitcoin is nearing $70,000. This surge is driven by increased demand for safe-haven assets amid economic uncertainties, including U.S. interest rate cuts and geopolitical tensions.
Experts highlight key differences between Bitcoin and gold. Bitcoin is more volatile but offers higher growth potential, making it suitable for risk-tolerant investors. In contrast, gold provides stability and acts as a conservative hedge against economic downturns.
Bitcoin exchange-traded funds (ETFs) have gained over $21 billion since their January 2024 launch, surpassing gold ETFs in growth. This trend reflects a shift in investor sentiment, with Bitcoin appealing to those seeking higher returns, while gold remains a stable investment choice.
Source: https://qz.com/bitcoin-gold-price-record-investment-bitwise-1851680456
Beef consumption remains strong in American culture despite environmental concerns
Beef remains a central part of American culture, with the average person consuming three hamburgers weekly. In 2022, the U.S. accounted for 21% of the world's beef supply, reflecting a long-standing preference for beef in American diets.
Historically, the rise of the beef industry in the U.S. is linked to settler colonialism, which displaced Native Americans and transformed their lands for cattle ranching. This shift contributed to the near extinction of bison, which were vital to Indigenous cultures.
In recent years, concerns about the environmental impact of beef production have grown. While about 10% of Americans identify as vegetarian or vegan, beef consumption remains high, with 375 million hamburgers eaten during the 2024 Independence Day celebrations.
Source: https://www.fastcompany.com/91215284/beef-american-culture-history-colonialism
MicroStrategy celebrates record trading volume as Bitcoin strategy pays off
MicroStrategy Inc. recorded a trading volume of $5.8 billion on Friday, making it the sixth-most traded stock on Wall Street. CEO Michael Saylor celebrated this achievement by coining the term โMagnificent 8,โ highlighting MicroStrategy's growing prominence.
This volume surpassed that of Amazon and Alphabet, which are part of the "Magnificent 7," a group of influential U.S. companies. MicroStrategy's stock has gained 238% year-to-date, reflecting its strong performance compared to these tech giants.
The increase in trading volume aligns with MicroStrategy's strategy of holding Bitcoin as its primary reserve asset. The company has significantly invested in Bitcoin since 2020 and currently holds over $17 billion in the cryptocurrency.
U.S. Treasury yields rise ahead of jobs data and election
U.S. Treasury yields rose on Monday, with the 10-year yield increasing to 4.284%, following a three-month high last week. The 2-year yield also climbed to 4.126%.
Traders are preparing for upcoming jobs and consumer confidence data this week, ahead of the U.S. presidential election on November 5.
Investors are analyzing recent comments from central banks after last week's IMF meetings, while Federal Reserve officials are currently in a blackout period before next week's interest rate decision.
Source: https://www.cnbc.com/2024/10/28/bonds-us-treasury-yields-ahead-of-jobs-data.html
Apple develops new smart display inspired by iconic iMac G4 design
Apple is reportedly developing a new smart home display that resembles the iconic iMac G4. The device will feature a small display attached to a hemispherical base, similar to the design of older iMac models.
The display is expected to be about the size of two iPhones side by side and will include speakers. It aims to be affordable, allowing users to place it in multiple rooms.
Set to launch in 2025, this device will run a new operating system with apps like FaceTime and Calendar. A larger version with advanced features is planned for 2026.