Manufacturing-driven real estate boom; global regulatory crackdown on Big Tech; new iPhones; diversity down after affirmative action ruling; Europe needs investment 3x bigger than Marshall Plan
Ad Astra Podcast
September 10 2024
Good morning citizens of America. This is the Ad Astra Citizen Journal daily brief for September 10, 2024 AD. I'm here to bring you the latest news headlines from around the world. Let's dive into today's top stories. In today's pod, we're tracking a manufacturing driven real estate boom, regulatory crackdowns on Big Tech, Apple's latest iPhone launch, the fallout of the affirmative action ruling on college diversity, and why Europe needs investments three times bigger than the Marshall Plan to compete with the U.S. and China. Before we dive in, don't forget, tonight is the presidential debate at 9 p.m. Eastern time. Set your reminders because this one's shaping up to be pivotal for both candidates. Now, let's get to the news. Manufacturing revival fuels property investment surge across the U.S. The U.S. is undergoing a manufacturing renaissance and real estate investors are taking note. American and international companies have pledged nearly half a trillion dollars to build new factories for electric vehicles, semiconductors, and other advanced products. This manufacturing boom has triggered a surge in property investment across the Sunbelt and Rustbelt regions, where investors are snapping up land for warehouses, hotels, offices, and apartments. Experts predict a he multiplier effect, with job creation leading to higher demand for housing and retail near these new factories. Google faces federal antitrust battle over monopoly on ad tech, EU court hands losses to Google and Apple. Google is back in court, this time facing accusations from the U.S. Justice Department of monopolizing the ad tech industry. The government alleges that Google's 2008 acquisition of DoubleClick gave it an 87% control over online ad auctions, leading to inflated prices that harm publishers and website owners. Meanwhile, across the Atlantic, the European Union's top court-delt major blows to both Google and Apple and separate antitrust cases. Google was fined 2.4 billion euros for favoring its own price comparison services, while Apple was ordered to pay Ireland 13 billion euros in back taxes, dating back to a 2016 ruling. Apple unveils AI-focused iPhone 16. Apple is banking on generative artificial intelligence to spark new interest in its flagship product, the iPhone. The iPhone 16, revealed Monday, will be the first to fully integrate AI, with features like enhanced messaging, writing suggestions, and a more powerful series. While CEO Tim Cook hailed it as a breakthrough in AI capabilities, analysts felt the launch lacked major surprises. Pre-orders start Friday, with the iPhone's 16 hitting stores on September 20. Black Student Enrollment Declines at Selective Colleges Post Affirmative Action Ruling. Following last summer's Supreme Court ruling barring race-based admissions, Black Student Enrollment at some of the nation's most elite colleges has fallen sharply. Amherst College saw its percentage of Black students drop from 11 percent to just 3 percent. Similarly, the University of North Carolina at Chapel Hill and Brown University experienced significant declines. While some schools maintain steady enrollment numbers, the data shows a troubling trend in declining diversity. To compete with US and China, Europe needs investments three times bigger than the Marshall Plan. Europe's economic growth is stagnating, and according to a new report, reversing this trend will require investments three times larger than the Marshall Plan. As Europe's population ages and GDP growth slows, the European Commission is calling for a productivity surge driven by decarbonization, digitalization, and defense investments. To meet these goals, Europe will need an investment boost of around 5 percent of GDP, a figure not seen since the 1960s and 1970s. On this day in 1897, George Smith, a London taxi driver, made history by becoming the first person ever arrested for drunk driving after crashing his cab into a building. Smith pleaded guilty and was fined 25 shillings, about $226 in today's dollars. That's all for today's brief. Join us again tomorrow for more news and updates. This show was produced by Greg Lovett, wishing you a great day ahead. Please follow and rate us on Apple Podcasts or Spotify. It helps other listeners find us. Stay informed and add Astra for Astra. [Music] [BLANK_AUDIO]