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WEEKLY NEWSLETTER

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What you’ll read?

• Hurricane Helene Devastates Bryson City's Tourism

• Stocks Surge After Positive Jobs Report, S&P 500 and Dow Reach New Highs

• Today in AI & Tech

• McDonald's Announces Limited-Time Return of Chicken Big Mac in the U.S.

  and more…

BUSINESS

U.S. Payroll Report Shifts Market Debate to "No Landing" Scenario Amid Global Conflicts

European and global markets are reacting to the latest U.S. payroll report, shifting the economic debate from concerns of a "hard landing" to the possibility of a "no landing," where the labor market remains strong despite cooling inflation. This narrative has captured investor attention, even amidst escalating conflicts in Gaza and Lebanon. Asian markets, led by Japan's Nikkei with a 2% rise, 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.

Hurricane Helene Devastates Bryson City's Tourism, Leaving Bakery Owner $15,000 in the Red.

Gianna Carson, owner of a bakery and vacation rental in Bryson City, NC, has lost around $15,000 due to Hurricane Helene. Tourist activity has plummeted, with daily transactions dropping from 300 to 50 and many guesthouse bookings canceled. While local authorities urge visitors to stay away to focus on repairs, small businesses like Carson’s, which rely on tourism, face a financial crisis. Carson fears that although her business wasn’t severely damaged, the lasting impact will come from the lack of visitors in the coming weeks.

GM Halts Production at Two U.S. Plants Due to Hurricane Helene Supplier Disruptions.

General Motors has temporarily suspended vehicle production at two U.S. factories due to supplier disruptions caused by Hurricane Helene. The company canceled shifts at its Flint, Michigan plant, which makes heavy-duty trucks, and at the Arlington Assembly in Texas, known for producing full-size SUVs like the Chevrolet Tahoe and Cadillac Escalade. While GM has not provided a timeline for when production will resume, they are collaborating with suppliers to restore operations safely. The hurricane's impact has resulted in significant casualties and ongoing challenges in supply chains..

Stocks Surge After Positive Jobs Report, S&P 500 and Dow Reach New Highs

Stocks rose on Friday after a stronger-than-expected jobs report boosted investor confidence in the economy. The S&P 500 increased by 0.9% to 5,751.07, and the Nasdaq Composite jumped 1.22% to 18,137.85, while the Dow Jones Industrial Average reached a record close of 42,352.75, up 341.16 points. Nonfarm payrolls surged by 254,000 jobs in September, surpassing expectations, and the unemployment rate dipped to 4.1%. Positive economic news has been beneficial for the equity market, with notable gains in tech and financial sectors.

TECH

Today in AI & Tech

Apple Faces Competition in AI Race as Developers Hold Key to Siri’s Success.

As Apple enters the AI race with Apple Intelligence, it is leveraging its vast network of 34 million app developers. The system is set to debut with the iPhone 16, though it currently lacks the advanced features of rivals like OpenAI and Google. Apple aims to distinguish its AI by enhancing Siri's capabilities to interact directly with user apps, but this requires developers to adapt their applications with new coding protocols. Success hinges on convincing developers to participate, as this could be crucial for boosting iPhone sales amid stiff competition.

Amazon's Checkout Evolution: From "Just Walk Out" to Dash Carts

In 2012, Amazon founder Jeff Bezos expressed that the company had no plans to enter the brick-and-mortar space unless they could offer something unique. Six years later, Amazon introduced its innovative Amazon Go stores with "Just Walk Out" technology, allowing customers to shop without checkout lines. However, in 2023, Amazon shifted strategies, removing cashierless checkout from its Fresh stores and Whole Foods while launching Dash Carts to facilitate shopping. Despite the challenges of scaling autonomous checkout, Amazon continues to use Just Walk Out in select locations. weekly.

Other

Hurricane Milton intensifies, threatening Florida with potential major hurricane status and significant rainfall.

Tropical Storm Milton intensified into a hurricane on Sunday as it moved through the Gulf of Mexico, posing a threat to areas in Florida still recovering from Hurricane Helene. With sustained winds of 85 mph, Milton is expected to strengthen further and potentially reach major hurricane status by Monday, bringing winds of at least 111 mph. Governor Ron DeSantis expanded the state of emergency to cover 51 counties, anticipating significant rainfall of 5 to 10 inches, which could lead to flooding across the Florida Peninsula and Keys.

Despite no evidence linking Democrats to assassination attempts, House Speaker Mike Johnson remains silent on Trump's claims while addressing the issue of election integrity.

House Speaker Mike Johnson, R-La., declined to acknowledge that former President Donald Trump lost the 2020 election during a tense interview with ABC News’ George Stephanopoulos. He also refrained from criticizing comments made by Trump and his son, Eric, which suggested that Democrats contributed to an assassination attempt against Trump in Butler, Pennsylvania. Notably, there is no evidence linking Democratic officials to the attempts, with the shooters having ties to Republican or independent affiliations.

McDonald's Announces Limited-Time Return of Chicken Big Mac in the U.S.

McDonald's announced the limited-time return of the Chicken Big Mac in the U.S., starting October 10. This version of the classic Big Mac features two tempura-battered chicken patties, lettuce, cheese, pickles, and Big Mac sauce on a sesame seed bun. The Chicken Big Mac has previously been tested internationally, including a brief stint in the U.K. and Miami. In a playful promotion, McDonald's opened a pop-up called "McDonnell’s" in Los Angeles on September 28 to

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