Credit Card debt reaches $1T, Maui fires, and hidden logo messages

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Business & Economy

Daily stock market update

U.S. stock markets closed lower across the board on Wednesday (S&P -0.70%, Nasdaq -1.17%, Dow -0.54%) ~ Wednesday’s market reflected a dampened investor sentiment after Moody’s downgraded several regional banks on Tuesday. However some industry experts said the pullback is expected given the extraordinary rallies in stocks this year. (More)

ESPN launches sportsbook in partnership with Penn Entertainment

Disney’s ESPN is launching a betting sportsbook with Penn Entertainment called ESPN Bet. The platform will take over Penn’s Barstool Sportsbooks and become ESPN’s exclusive operation. It will launch this fall in 16 legalized betting states. The deal will cost Penn $2 billion over the course of 10-years. (More)

Credit card balances jumped in the second quarter and are above $1 trillion for the first time

Americans turned to their credit cards to make ends meet heading into the summer, sending unpaid balances over $1 trillion for the first time ever. Total credit card debt rose by $45 billion in the April-through-June period, an increase of more than 4%. Delinquency rates - the Fed’s measure of credit card debt 30 or more days late - also rose, climbing to 7.2% in the second quarter, up from 6.5% in Q1. (More)

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US News, Politics, & Government

Fires in Maui force evacuations and sever communications

Wildfires in Hawaii killed at least 6 people and forced evacuations in multiples communities. The fires also burnt several structures, including the historic town of Lahaina. The U.S. Coast Guard rescued at least 12 people from waters off Lahaina who were trying to escape the smoke and flames. 911 services and communications have been cut off in Maui; and the hospital on the island is overburdened with burn patients. Officials are working to evacuate those at risk. (More)

American nurse and her child kidnapped in Haiti have been released

Alix Dorsainvil and her child were released on Wednesday after being kidnapped and held hostage for two weeks. The mother and child were working at a nonprofit organization near Port au Prince when they were taken. The U.S. State Department worked with Haitian authorities and other agencies to facilitate their safe release. (More)

Voters in Ohio reject GOP-backed proposal that would have made it tougher to protect abortion rights

Ohio’s rejection of Issue 1 keeps in place a simple majority threshold for passing future constitutional amendments, rather than the 60% supermajority that was proposed. Supporters of the measure said that the higher bar would protect the state’s laws from outside interest groups. Whereas, opponents said it was intended to diminish the influence of the state’s voters. (More)

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World

Kim Jong Un shakes up military leadership, readies for war

North Korea’s top military general was replaced after only seven months on the job. The state media gave no reason for the dismissal. Kim Jung Un also called for more war preparations including a boost in weapons production and expansion of military drills. Last week he visited weapons factories where he asked for more missile engines, artillery, and other weapons to be built. The U.S. has accused North Korea of supplying arms to Russia for its war in Ukraine, but both countries have denied those claims. (More)

More than 40 feared dead after boat sinks in Mediterranean

At least 41 people are believed to have died after a boat sank off the Italian island of Lampedusa. Four survivors who were rescued by a Maltese bulk carrier, confirmed they had been on a vessel that set off from Tunisia six days ago before it sank. More than 78,000 people have landed in Italy after crossing by boat from North Africa since the start of the year, and 2,000 have died or gone missing in the Mediterranean so far in 2023. (More)

Nearly 100 arrested in global child sex abuse operation

Close to 100 people have been arrested in Australia and the U.S. as part of a dark web child abuse investigation, including 79 in the U.S. and 19 in Australia. Thirteen children were rescued. Most of the suspects in Australia worked jobs that required a high degree of knowledge in IT. Police said alleged members used software to anonymously share files and used methods like encryption to remain hidden from law enforcement while online. (More)

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Sports & Entertainment

Ex-Raiders WR Henry Ruggs III sentenced in fatal DUI

Former Las Vegas Raiders receiver Henry Ruggs III was sentenced to three to 10 years in prison for killing a woman and her dog while driving drunk in Nov. 2021. Ruggs was taken 12th overall in the draft by the Raiders in 2020 and played 20 games for the franchise. He could be eligible for parole after three years. (More)

Robbie Robertson, leader of The Band, dies at 80 

Robbie Robertson, the lead guitarist and the primary songwriter for Canadian rock luminaries The Band, has died at age 80. After The Band broke up in the 1970’s he worked closely with Martin Scorsese as a music producer and consultant for popular movies including “The King of Comedy,” “The Color of Money,” “Gangs of New York,” and “The Departed.” (More)

FedEx Cup playoffs set to tee off at TPC Southwind

Pro Golf’s FedEx Cup playoffs begin today at TPC Southwind in Memphis. This year only 70 players in the FedEx cup points standing will compete during the first of three legs of the playoffs, down from 125 players in recent seasons. The top 50 players from this week’s championship will move on to compete in the second round of the playoffs. (More)

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Science, Health, & Tech

Forget 10,000 Steps. Here's How Much Science Says You Actually Need to Walk

Walking just 4,000 steps per day - less than half of the 10,000 steps often recommended for a healthy lifestyle - may be enough to extend your life according to new research. However, each additional 1,000 steps per day is associated with roughly 15% lower risk of premature death. The study didn’t find a point at which additional activity stops appearing beneficial, all the way up to 20,000 steps per day. (More)

Scientists make eye-opening discovery in deep sea caves

A marine expedition to previously unknown ocean caverns over 8,200 feet deep revealed life thriving underneath hydrothermal vents — openings that emit hot, chemical-rich fluid into the water. The team used an underwater robot to dig through volcanic crust where they found cave systems teeming with worms, snails, and chemosynthetic bacteria. (More)

What to know about the dominant Covid-19 EG.5 variant, nicknamed ‘Eris’

A fast-spreading new subvariant of the coronavirus that causes Covid-19 recently became the most prevalent strain in the country, though it does not appear to cause significant illness or pose immediate danger. According to a CDC estimate, the EG.5 variant makes up nearly 17% of all COVID cases in the U.S. There is no evidence that the new strain is able to spread more easily and currently available treatments should be effective against the variant, per the CDC. (More)

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Bonus Material

10,000 people offered to legally change their name to “Subway” to get free sandwiches for life.

A Texas woman was attacked by a snake and a hawk after the bird accidently dropped the serpent on her.

36 hidden messages in company logos you see all the time.

Two 68-year-old Canadian men discovered they were switched at birth.