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Biden & McCarthy progressing towards debt ceiling deal

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An agreement needs to be reached and passed by both chambers of Congress before the federal government runs out of money to pay its bills

 
U.S. President Joe Biden and House Speaker Kevin McCarthy both underscored their determination to reach a deal soon to raise the federal government’s $31.4 trillion debt ceiling and avoid an economically catastrophic default.

“I’m confident that we’ll get the agreement on the budget. That America will not default,” Biden said.

Biden addressed the looming crisis before leaving for the G7 summit of world leaders in Hiroshima, Japan – a trip cut short due to ongoing negotiations.

“We’re going to come together because there’s no alternative. We have to do the right thing for the country,” Biden continued.

“We have to move on. And to be clear, this negotiation is about the outlines of what the budget will look like, not about whether or not we’re going to, in fact, pay our debts.

“Leaders have all agreed we will not default. Every leader has said that.”

Biden’s comments come after he and top Congressional leaders met in the Oval office, and the president agreed to negotiate directly with McCarthy on a deal, after a months-long standoff.

An agreement needs to be reached and passed by both chambers of Congress before the federal government runs out of money to pay its bills, which could happen as soon as June 1.

Asked by reporters at the Capitol whether it’s possible to reach a debt ceiling deal by the time Biden returns from Asia on Sunday, McCarthy replied, “It’s doable.”

“But now we’re along such a short timeline, it makes it almost harder.

“But if there’s one thing you know from me, I never give up. I have the grit, the perseverance, and we’re gonna get it done,” McCarthy affirmed.

Negotiators are aiming to hammer out an agreement before Biden’s scheduled return.

Congress would then have to act swiftly before the deadline hits.

McCarthy said the House – which Republicans currently control by a slim nine-seat majority – would vote first on any deal before sending it on to the Democrat-controlled Senate for approval.

Senate rules would require at least nine Republicans to go along with any deal. #trending #featured

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AI tracks enigmatic cancers back to origins in new study

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In a groundbreaking development, scientists have unveiled a remarkable AI tool that promises to revolutionise the detection and treatment of metastatic cancers.

These elusive cancers often evade detection until they have already spread to distant organs, posing a significant challenge for diagnosis and treatment. Published in Nature Medicine, the study showcases an AI model developed by researchers at Tianjin Medical University (TMU) in China, led by Tian Fei and Li Xiangchun. Trained on a vast dataset of 30,000 images from 21,000 individuals, the AI model demonstrated an unprecedented accuracy rate of 83% in identifying the origins of metastatic cancer cells found in fluid samples from abdominal or lung regions.

Impressively, the model’s top three predictions included the tumour’s source with a staggering 99% accuracy.

This breakthrough not only surpasses the capabilities of human pathologists but also offers a beacon of hope for the 300,000 people annually diagnosed with cancer at TMU-affiliated hospitals, where approximately 4,000 cases rely on such image-based diagnoses.

By significantly reducing the need for invasive tests and providing timely and accurate predictions, this AI tool could potentially extend the lives of late-stage cancer patients. Faisal Mahmood of Harvard Medical School praises the study’s findings, highlighting the potential of AI as an indispensable assistive tool in healthcare.

Looking ahead, the integration of AI with tissue samples and genomic data holds the promise of further enhancing outcomes for individuals battling metastatic cancers of unknown origins, ushering in a new era of precision medicine and personalised care.

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Surprising Netflix subscriber surge despite price hikes

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Netflix Surpasses Expectations with 9.33 Million New Subscribers in Q1 2024

Netflix stunned analysts and the industry alike with its first-quarter 2024 earnings report, revealing a remarkable surge of 9.33 million paid subscribers, soaring past the anticipated 3.93 million additions and bringing its total subscriber count to an impressive 269.60 million.

This surge follows a record-breaking fourth quarter of 2023, where Netflix added 13.1 million subscribers. Despite this remarkable growth streak, Netflix announced it would cease reporting quarterly subscriber totals from 2025 onward, signalling a significant shift in industry dynamics. Notable contributors to this growth included high-profile releases like the live-action adaptation of “Avatar: The Last Airbender” and “3 Body Problem” by the show-runners behind “Game of Thrones.”

Regionally, the U.S. and Canada saw a growth of 2.53 million paid subscribers, while Europe, the Middle East, and Africa added 2.92 million, Latin America saw an increase of 1.72 million, and the Asia-Pacific market experienced a rise of 2.16 million.

Alongside surpassing subscriber expectations, Netflix exceeded financial projections, reporting a 15% increase in revenue from Q1 2023, with diluted earnings per share of $5.28 on $9.37 billion in revenue.

Looking ahead, Netflix forecasts robust financial performance for Q2, with expectations of $9.49 billion in revenue and diluted EPS of $4.68, aiming for revenue growth of 13% to 15% for the full year 2024, reflecting a bullish outlook on its operational margin.

 

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Why are Americans moving abroad?

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Inflation and the rising cost of living in the United States is motivating Americans to consider moving to other countries.

Have you ever dreamed of working or retiring abroad?

Well, more and more Americans are discovering that their income can stretch much further in other countries, allowing them to save more, pay off debts, and even get ahead financially.

Kelli Maria Korduck a contributor with Business Insider joins Veronica Dudo to discuss why Americans are deciding that the only way to get ahead is to leave.

#IN AMERICA TODAY #featured #livingabroad #movingabroad #inflation #travel

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