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China’s economic uncertainty dampened global energy forecasts. OPEC lowered its daily oil consumption outlook to 2.1 million barrels a day from 2.2 million barrels.
Bank of America’s chief brushed off recession fears. However, Brian Moynihan cautioned that if the Federal Reserve doesn’t lower interest rates soon, they could “dispirit the American consumer.”
The Biden Administration introduced a new rule to make refunds, returns, and cancellations less of a hassle. The “Time is Money” initiative aims to cut down on junk fees and streamline the cumbersome process.
Despite market turbulence, Big Tech is proving the AI hype is real. With robust tech earnings, analysts predict an “AI tidal wave of spending” will trickle further into the tech world.
Boeing’s mid-door panel created chaos, crewmembers said. An Alaska Airlines flight attendant was “absolutely certain” there were casualties after the door plug blowout.
The Food and Drug Administration approved a nasal spray for allergic reactions as an alternative to EpiPens. The nasal spray is the first needle-free option for tackling anaphylaxis.
Cheap airlines are starting to act expensive
Budget airlines have a new daily affirmation: be the expensive airline you want to be.
As major airlines like JetBlue Airways and United Airlines offer cheaper budget options, it’s getting hard for rivals to compete on price alone (we’re looking at you, Frontier).
While Southwest Airlines shakes things up by sprucing up its boarding process and battling activist investors, Spirit is adding more perks to its fares as it fights for survival following the collapse of its proposed merger with JetBlue.
Quartz’s Melvin Backman has more on what airlines are doing to adapt and stay competitive.
Higher education is still acting expensive
A diploma comes with a trove of benefits. But getting one, especially from a private university, can come at a really big price, especially once you factor in costs like housing, textbooks, and food.
That hasn’t kept everyone from paying the pricey tuition. Quartz’s Madeline Fitzgerald has more on which 10 colleges in the U.S. are the most expensive, plus their massive six-figure price tags.
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🗿 FTC nixes AI-powered app that claimed it could diagnose STIs from penis pictures
Surprising discoveries
Andromeda may miss us?! Astronomers thought the Milky Way and Andromeda were on a collision course, but new simulations show they might just swipe past each other.
Maybe a cotton candy burrito with your beer?! The Arizona Cardinals sure think so. They’re offering the bizarre burrito for the 2024 season.
More homes have pets than kids and its spurring economic activity. When it comes to house hunting, one in five buyers pick their neighborhood with the furry four-legged friends in mind.
Burning Man may have peaked. For the first time in a decade, demand has gotten so low the nonprofit running the event is selling last-minute tickets to lure people out West.
South Korea’s got a bedbug sniffer dog awaiting its Paris Olympic returnees. 2-year-old beagle Ceco is posted up at the Incheon International Airport ready to sniff out any potential insects.
Memes and “reply all” are energy suckers. It turns out they contribute to climate issues because data stored on the energy-draining servers is never used again.
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Our best wishes on a safe start to the day. Send any news, comments, cotton candy burritos, and spider-sniffing dogs for our homes to talk@qz.com. Today’s Daily Brief was brought to you by Francisco Velasquez and Morgan Haefner.