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What you’ll read?

• Social Security recipients to receive a 2.5% cost-of-living increase in 2025

• S&P 500 and Dow hit new highs, boosted by strong bank earnings.

• Today in AI & Tech

• Trump Calls for Death Penalty for Migrants Who Kill Americans.

  and more…

BUSINESS

Social Security recipients to receive 2.5% cost-of-living increase in 2025; taxable wage base rises for high earners.flicts

In 2025, Social Security recipients will receive a 2.5% cost-of-living adjustment, while high-income workers will see an increase in the taxable wage base for Social Security payroll taxes. The earnings threshold subject to these taxes will rise to $176,100, up from $168,600 in 2024. Employees will pay 6.2% of their wages up to this limit, while self-employed individuals will face the full 12.4%. The change means higher payroll taxes for some, with limited options for avoidance. followed Wall Street's gains. The U.S. dollar continues to dominate, with the yen, euro, and sterling falling, though Japan’s government intervened to stabilize the yen.

S&P 500 and Dow hit new highs, boosted by strong bank earnings.

The S&P 500 and Dow Jones Industrial Average reached new highs on Friday, wrapping up a winning week fueled by strong third-quarter bank earnings. The S&P gained 0.6% to 5,815.03, and the Dow rose nearly 1% to 42,863.86, with a 1.2% weekly gain. JPMorgan Chase and Wells Fargo led the rally with better-than-expected profits, while the Nasdaq added 0.3%, closing less than 2% below its record high.

Southeast Small Businesses Await Pandemic Aid Amid Hurricane Recovery

Small-business owners in the Southeast affected by hurricanes are pushing for long-delayed pandemic relief under the Employee Retention Credit (ERC) program. The IRS is processing 400,000 claims worth $10 billion and accelerating efforts for faster aid. The program allows businesses to claim up to $26,000 per employee. Delays stem from a surge in fraudulent claims. The IRS urges affected businesses to check their claims’ status, and mail-disrupted checks are being held by the U.S. Postal Service until delivery resumes.

TD Bank Pleads Guilty, Faces $3 Billion in Fines for Money Laundering Failuresighs

TD Bank pleaded guilty to failing to prevent money laundering, paying $3 billion in penalties for its role in allowing drug traffickers and other criminals to exploit its services. The bank's U.S. growth will be restricted, and a monitor will oversee its compliance. Attorney General Merrick Garland revealed TD Bank's negligence in overseeing $18.3 trillion in transactions, allowing criminal networks to launder over $670 million. Further prosecutions are expected.

TECH

Today in AI & Tech

Microsoft to Sell Xbox Games Directly via Android App Following Google Play Rulingss.

Microsoft announced that starting in November, Android users can buy and play Xbox games directly through the Xbox app. This move follows a U.S. court ruling against Google, requiring it to provide alternatives to its Play Store. As a result, Microsoft can offer games without paying Google a percentage of in-app purchases, while continuing to push its mobile strategy after the acquisition of Activision Blizzard.

New AI Solutions Aim to Streamline Health-Care Documentation

Microsoft introduced new AI and data tools for healthcare, including imaging models and an automated nurse documentation system, aiming to ease administrative burdens and speed up AI application development. Nurses spend up to 41% of their time on documentation, contributing to burnout. These tools, currently in early stages, are part of Microsoft's broader push into healthcare AI, following their acquisition of Nuance Communications in 2021 and recent Azure cloud and Fabric analytics advancements.

Other

Trump Calls for Death Penalty for Migrants Who Kill Americans.

Former President Donald Trump, during campaign rallies in Nevada and Colorado, advocated for the death penalty for migrants who kill U.S. citizens or law enforcement officers. He has consistently escalated his anti-immigrant rhetoric, blaming Vice President Kamala Harris for what he describes as a crisis of illegal immigration. Trump characterized cities like Aurora as "invaded and conquered" by migrants and claimed that they pose a significant threat to American safety and livelihoods..

Man Killed in Pit Bull Attack in Albany, NY

In Albany, New York, a 59-year-old man named James Provost was killed by a pack of up to nine mixed-breed pit bulls in a backyard attack on Wednesday evening. An officer on the scene shot one dog to disperse the others, while police are collaborating with the district attorney to determine if criminal charges are necessary. A total of 24 pit bulls were found at the residence, with 15 being puppies, and they have since been taken by the humane society.

Body Parts in Freezer Identified as Missing Colorado Teen

Authorities have identified body parts found in a freezer in Colorado as belonging to 16-year-old Amanda Leariel Overstreet, whose death is being investigated as a homicide. The grim discovery was made in January after the home where the freezer was located was sold. Amanda was last seen in April 2005, and investigators are currently examining the circumstances of her disappearance, noting there was no record of her being reported missing.

It's a Wrap!

Thank you for joining us in this journey through the latest updates and insights. Your engagement and support mean the world to us. We hope you found this newsletter both informative and inspiring. Stay tuned for more exciting news and stories in our next edition.

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Warm regards,
Sarah