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U.S. President Joe Biden unveils plan to tackle the cost of living crisis

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As the cost of living soars in America, U.S. President Joe Biden sits down with Federal Reserve Chair Jerome Powell to work out a plan

There’s no doubt about it, everyone is feeling the pinch of inflation right now. Whether it be the price of petrol, food, rent or mortgages. So when does it end?

Well, President Joe Biden met with Federal Reserve Chairman Jerome Powell as soaring inflation takes a bite out of Americans’ pockets but also out of the president’s public approval.

Biden and Powell spoke about the need to cool inflation from its highest levels in 40 years and endeavour to help Americans who are doing it tough.

This was the first meeting since Powell was confirmed for his second term by the Senate.

The meeting spoke about the critical transition ahead for the U.S. economy and the need for interest rate hikes in an attempt to slow inflation.

Many contributing issues were highlighted including the impacts of the war in Ukraine, supply chain crunches, and post-pandemic recovery.

President Biden also wrote an op-ed in the Wall Street Journal echoing these cumulative concerns that have led the economy to its present moment.

Joe Biden article, The Wall Street Journal

Just like other leading economies around the world, the United States Government poured trillions into an economic stimulus to keep the country afloat.

However, now it is feeling the brunt of economic downfall. Biden reiterated the independence of the Federal Reserve’s decisions moving forward.

“The president underscored to Chair Powell in the meeting what he has underscored consistently including today — that he respects the independence of the Federal Reserve.

We have run this first leg of the race at a very rapid clip that has put us in the strong position relative to our peers, but this is a marathon and we have to move and shift to stable resilient growth,”

White House economic adviser Brian Deese

For now, there is no immediate reprieve for consumers. The Federal Reserve has raised interest rates and plans to impose two more rate hikes in its next two meetings.

However, these ongoing economic hardships will be front of mind when American voters head to the polls for November’s midterms.

They’re not only hurting Americans’ back pocket but also damaging Biden’s approval rating.

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U.S. planes told to land immediately as outage spreads

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Major U.S. carriers including American Airlines, Delta Airlines and United Airlines issued ground stops on Friday morning.

They are blaming communication issues, less than an hour after Microsoft resolved its cloud services outage that impacted several low-cost carriers.
It was not immediately clear whether the call to keep flights from taking off were related to the earlier Microsoft cloud outage. Apart from American and Delta, UAL and Allegiant Air too grounded flights.
The FAA did not immediately respond to Reuters’ request for comment.
Frontier said earlier that a “major Microsoft technical outage” hit its operations temporarily, while SunCountry said a third-party vendor affected its booking and check-in facilities, without naming the company.
U.S. Secretary of Transportation Pete Buttigieg said the department was monitoring the flight cancellation and delay issues at Frontier, adding that the agency will hold the company and all other airlines “to their responsibilities to meet the needs of passengers”.
Frontier cancelled 147 flights on Thursday and delayed 212 others, according to data tracker FlightAware. 45% of Allegiant aircrafts were delayed, while Sun Country delayed 23% flights, the data showed. The companies did not give details on the number of flights impacted.
Microsoft said its outage started at about 6 pm ET on Thursday, with a subset of its customers experiencing issues with multiple Azure services in the Central U.S. region as several countries reported massive IT disturbances. “There are delays to check-in and flight operations had to be cancelled until 10:00 am (0800 GMT),” the spokeswoman said, adding however that she could not say when they would resume

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Major Microsoft outage shuts down airlines, news and cloud servers worldwide

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A widespread Microsoft outage is affecting Australia’s supermarkets, banks and telecommunications companies.

A widespread Microsoft outage is affecting Australia’s supermarkets, banks, telecommunications companies.

There are also reports of outages in Japan and the United States.

The ongoing widespread outage is reportedly related to US-based cybersecurity provider CrowdStrike. Its ‘Falcon sensor’ is installed on many business computers to gather security data.

In a statement to Ticker News, StickmanCyber said:

“Multiple StickmanCyber security engineering and our 24×7/365 security operations teams across the country support reports that this outage is related to a CrowdStrike update. 
 
“It is our understanding that any business running versions 7.15 and 7.16 are affected by the outage, but 7.17 seems to be ok. We are waiting on official advisory from CrowdStrike on these findings but doing our best to help affected customers. It’s a lesson to always update your software, but obviously this is an extreme example. IT security tools are all designed to ensure that companies can continue to operate in the worst-case scenario of a data breach, so to be the root cause of a global IT outage is an unmitigated disaster.
 
“Crowdstrike support is offering a workaround to customers. It claims users may be able to fix the issue by booting windows in safe mode or in the Windows Recovery Environment and deleting a file named “C-00000291*.sys”.   

“CrowdStrike is aware of reports of crashes on Windows hosts related to the Falcon sensor,” the company said in a statement on its website.

“Symptoms include hosts experiencing a bugcheck\blue screen error related to the Falcon sensor. Our engineering teams are actively working to resolve this issue and there is no need to open a support ticket.

“Status updates will be posted below [on the Microsoft websit€0 as we have more information to share, including when the issue is resolved.”

Laptops down

Thousands of users across the world reported problems with Microsoft services to Downdector.com, a website that tracks service disruptions.

Microsoft laptops suddenly restarted across Australia on Friday afternoon.

Outage website Downdetector shows issues across companies including NAB, Bendigo Bank, Telstra, CBA, Google.

Microsoft response

As users take to social media to complain, Microsoft reported a service outage for its Microsoft 365 apps and services, affecting businesses and users across the world.

“We’re investigating an issue impacting users ability to access various Microsoft 365 apps and services,” Microsoft 365 Status said on X early Friday.

Microsoft didn’t respond immediately to a request for comment.

Frontier airlines

 

The outage forced low-cost airline Frontier to cancel some flights. “Our systems are currently impacted by a Microsoft outage, which is also affecting other companies,” Frontier said in a statement. “We appreciate your patience.” The carrier said it would offer refunds to affected passengers.

The Federal Aviation Administration said Frontier asked it to pause the airline’s departures across the U.S. Thursday night. The ground stop was later lifted. 

 

 

 

 

 

 

It said it is “observing a positive trend in service availability” as it continues to mitigate the problem.

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Twisters takes the box office by storm as Disney’s Captain America mirrors recent U.S. political events

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Sequels, nostalgia, and the changing face of cinema

The recent surprise hit Twisters has taken the box office by storm, defying expectations and cementing itself as a standout success in a summer crowded with high-profile releases. This sequel to the 1996 classic Twister has captivated audiences with its blend of thrilling storm-chasing action and heartfelt storytelling.

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