- Published on
04-14-2023
- Authors
- Name
- AI Writer
- @danwakeem
Retail sales drop by 1% in March, raising fears of an imminent recession
Retail sales have fallen by 1% in March, indicating that the economy is heading for a slowdown as consumers are struggling to cope with higher interest rates and elevated inflation. The economy could even contract in the April-June quarter if consumers remain weak. The decline in sales was seen among most retailers, except for online retailers who observed a hike by 1.9% and restaurants and bars who were saw a slight uptick of 0.1%.
Biden administration proposes rule to expand healthcare for DACA recipients
The Biden administration is proposing a rule that expands healthcare coverage for recipients of the Deferred Action for Childhood Arrivals Program (DACA) by making them eligible for Medicaid and the Affordable Care Act’s health insurance exchanges. The proposed policy change aims to include DACA recipients in the “lawful presence” definition. Conservatives have criticized the move, while immigrant advocates regarded it as a reward for the DACA recipients and undocumented immigrants for their contributions during the COVID-19 pandemic. The Obama-Biden administration launched the DACA program in 2012, which allowed certain immigrants brought to the US as children to work and stay in the country for renewable two-year periods without a pathway to citizenship.
Massive 7.0 Magnitude Earthquake Rocks Indonesia
Indonesia experienced a 7.0 magnitude earthquake close to East Java province. Despite no danger of a Tsunami, videos show neighboring regions experiencing buildings swaying for several seconds causing panic among residents and tourists. As part of the Pacific Basin located on the 'Ring of Fire,' the country is susceptible to natural disasters such as earthquakes, volcanic eruptions, and tsunamis. Indonesia's deadliest Tsunami was caused by a 2004 Indian Ocean quake which took over 230,000 lives.
JPMorgan Chase and other banks post strong Q2 results, calming fears of banking crisis
JPMorgan Chase, Citigroup, and Wells Fargo have released Q2 financial results, with JPMorgan leading the pack. The bank, reportedly too big to fail, posted a profit of $12.62bn, representing a massive increase from last year. Deposits also increased, with consumers and businesses turning to larger banks after the collapse of smaller ones earlier this year. Investment banks' revenue varied, with trading and advisory fees being flat, amid inflation fears. These results have caused many to breathe a sigh of relief; helping to decrease concerns around potential crisis within the banking system.
American couple kidnapped in Haiti and held for ransom
A couple from the US, Jean-Dickens Toussaint and Abigail Toussaint, were kidnapped while traveling on a bus in Haiti. The family paid the initial 200,000 per person. The couple's release conditions were not immediately revealed, and the US embassy has not provided a comment. The kidnapping victims have a 2-year-old son who was not with them during the trip.
North Korea launches most powerful weapon yet in ongoing missile tests
North Korea launched a long-range missile named Hwasong-18, which was described as the country's most powerful weapon yet. It did not demonstrate the weapon's full capacity and it remains unclear how far North Korea has come in mastering technologies to ensure the warhead would withstand atmospheric reentry and accurately strike targets. The missile is likely a meaningful advance in North Korea's goal to build a nuclear arsenal that could directly threaten the United States. North Korea has justified its weapons demonstrations as a response to the expanding military exercises between the United States and South Korea. The Hwasong-18 could be used to expand North Korea's tactical nuclear arsenal and pursue submarine-based deterrents.
Woman Emerges from Spanish Cave After 18 Months Underground
Beatriz Flamini has emerged from a cave in southern Spain after spending more than 16 months underground as part of a project called Timecave, which was designed to study how someone would fare going solo underground for so long. The spell underground set a new world record, but the claim could not be immediately confirmed. Flamini used two cameras to document her experiences and placed the recordings at an exchange point in the cave, Spanish state news agency Efe reported. At a press conference, she described the experience as unbeatable but asked to be excused as she needed a shower, not having had one in more than 16 months.
Virginia Honors Teacher for Saving Students' Lives During Shooting
Abby Zwerner, a teacher who was shot in the chest by a six-year-old student earlier this year, has been recognized by Virginia lawmakers for her bravery and quick-thinking actions that saved her students' lives. The student's mother, Deja Taylor, has turned herself into the police and faces charges related to child neglect and allowing her child to access a firearm. Zwerner's attorneys have accused an assistant principal of failing to act despite being told about the student's gun, and the incident has prompted the Newport News School Board to hire additional security officers and install new weapons detection systems throughout the division.
Funeral arrangements disclosed for bank employees killed in Louisville shooting
Details of the five bank employees who were killed in a mass shooting this week in Louisville, Kentucky, were disclosed as funeral arrangements were released. The victims identified as Tommy Elliott, Joshua Barrick, Deana Eckert, Juliana Farmer, and Jim Tutt Jr. Funeral arrangements for most of them have been scheduled, except for that of Juliana Farmer. The victims had diverse passions and careers, ranging from banking and coaching to food preparation and volunteer work.
Battle Over Banned Books Threatens Texas County’s Library System
Llano County’s library system is at risk of closure due to the ongoing dispute over banned books. The commissioners in the county voted to close the libraries for three days last December, and went on to create a new library advisory board with members of a community group that sought book removals. In response to the move, several residents filed a lawsuit claiming the removals amounted to censorship and violated their First Amendment rights. A federal judge later ruled in favor of the plaintiffs, requiring the county to put the books back on shelves. The commissioners are still discussing the fate of the library system amid the ongoing litigation.