Biden says he’s ‘passing the torch’ in speech from Oval office

Kamala Harris’s presidential campaign is gaining momentum as expectations rise that the US Federal Reserve will start cutting interest rates by September.

Economists predict a series of rate cuts throughout 2024, following signals from key Federal Reserve officials indicating readiness to ease borrowing costs due to a weakening jobs market.

This development could relieve economic pressure ahead of the closely contested election between Harris and Donald Trump in November, The Guardian has reported.

read more: https://www.theguardian.com/business/article/2024/aug/19/federal-reserve-poised-begin-cutting-interest-rate-early-september

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The Nasdaq 100 Index has entered correction territory, losing over US$2 trillion in value in just over three weeks due to a sharp rotation away from Big Tech stocks.

The index fell 2.4% on Friday, bringing its total decline since a July 10 record to more than 10%. Despite this drop, the index is still up nearly 10% for the year.

Major tech stocks, including Nvidia Corp. and Tesla Inc., have seen significant declines, with both down more than 20% from recent highs, placing them in bear-market territory.

Microsoft Corp. and Amazon.com Inc. have also lost over 10%, although most major tech stocks, except Tesla, remain higher for the year, BNN Bloomberg has reported.

read more: https://www.bnnbloomberg.ca/business/technology/2024/08/02/nasdaq-100-is-in-correction-territory-with-ai-darlings-sinking/

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Plans by Police Scotland to introduce live surveillance cameras for scanning faces have been criticized as “deeply intrusive” and dangerous by a coalition of international privacy groups.

The cameras are intended to help catch shoplifters and people violating bail conditions, with images monitored from police vans and checked against a database.

Privacy advocates, including Big Brother Watch, Liberty, Privacy International, and others, have urged Justice Secretary Angela Constance to withdraw the proposal, the Daily Mail has reported.

read more: https://www.dailymail.co.uk/news/article-13679363/Police-use-deeply-intrusive-facial-recognition-cameras-sparks-warning-privacy-campaigners.html

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According to Kuwaiti newspaper Al-Jarida, Iran has provided Hezbollah and other proxies with electromagnetic ordnance capable of disabling communication systems and shutting down radars.

Rotem Mey-Tal, CEO of Asgard Systems, likened this technology to an extreme power outage that affects all electrical and electronic systems, including critical medical equipment.

Mey-Tal speculated that the technology might be used in low-flying UAVs, similar to recent attacks by Iranian-backed forces, but noted that there is no historical precedent or detailed documentation for such weapons, the Jerusalem Post has reported.

read more: https://www.jpost.com/middle-east/article-812168

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David Dutch and James Copenhaver, the two men injured in the assassination attempt on former President Donald Trump, were both discharged from the hospital recently.

Dutch, 57, was released from Allegheny General Hospital on July 24, while Copenhaver, 74, was discharged on July 26.

Copenhaver, who suffered critical injuries at Trump’s rally in Butler, Pennsylvania, is reported to be recovering from “life-altering” wounds. His family expressed gratitude for the support received during his recovery.

Former fire chief Corey Comperatore, 50, was killed at Trump’s rally on July 13 while trying to shield his wife and two daughters from gunfire.

During the attack, a bullet or its fragments struck Trump in the ear, as confirmed by the FBI, NBC News has reported.

read more: https://www.nbcnews.com/politics/donald-trump/second-rallygoer-injured-trump-assassination-attempt-released-hospital-rcna164003

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