Today’s topics

• Shein’s profit exceeds $2 billion, amid preparations for its IPO

• Beyonce’s "Cowboy Carter" made history as Spotify's most-streamed album in a single day of 2024

• Sperm whales’ bizarre yet effective defence mechanism

• Glowing lab-made black holes

• Shift to electric trucks in the US

• Amazing yet alarming new OpenAI’s voice generating technology

• Fast-food workers in California now enjoy a $20 hourly wage

  and more…

On Monday, the stock market saw a generally downward trend. The S&P 500 declined slightly by 0.2%, ending the day at 5,243.77. The Dow Jones fell by 240.52 points or 0.6%, closing at 39,566.85. Contrarily, the Nasdaq bucked the trend by gaining 0.11%, finishing at 16,396.83.

Shein's profits skyrocket to over $2 Billion ahead of planned IPO. Online fast-fashion giant Shein has reported a significant profit surge, exceeding $2 billion for 2023, amid preparations for its highly anticipated IPO in New York or London. The company, known for its popularity among Gen Z shoppers, achieved a gross merchandise value of approximately $45 billion, marking substantial growth compared to previous years. With a valuation surpassing $60 billion, Shein awaits regulatory approval from Beijing and Washington for what is anticipated to be the largest IPO of the year.

Gold prices reach new heights. Gold prices reached yet another record high on Monday, buoyed by expectations of a looming interest rate cut by the US Federal Reserve and the metal's status as a haven asset. Market analysts anticipate a rate reduction by the Fed in June, further driving investor interest in gold.

How Much Does Earth Weigh?

As per NASA, estimating Earth's mass has been a centuries-long endeavor for scientists, yielding a figure of approximately 5.9722×10^24 kilograms, or around 13.1 septillion pounds. However, Earth's weight varies depending on gravitational forces, making it difficult to pinpoint a single value. This colossal mass is a testament to the planet's diverse composition, encompassing everything from rocks and minerals to living organisms and human-made structures.

Sperm whales' defence: The 'Poonado'. In a bizarre yet effective defence mechanism, sperm whales off Western Australia's southern coast thwarted an attack from a pod of killer whales by unleashing a "poonado". This scatological spectacle involved the sperm whales creating a "cloud of diarrhea" as a defensive tactic.

Lab-made black hole started to glow. Researchers in the Netherlands created a lab simulation of a black hole. Using a chain of atoms arranged in a single file, they replicated the event horizon of a black hole. They observed an extraordinary phenomenon known as "Hawking radiation." This radiation, born from disturbances in quantum fluctuations caused by the black hole's disruption of spacetime, provides valuable insights into the enigmatic nature of black holes.

Underground Bubbles to Fight Climate Change

Amid worsening climate conditions and global emissions falling short, a wave of ambitious projects aims to engineer solutions. One notable endeavor is Occidental Petroleum's construction of the world's largest direct air-capture plant near Odessa, Texas. Set to commence operations next year, the plant utilizes giant fans to extract carbon dioxide from the air, which is then sequestered underground, primarily in bedrock, to combat greenhouse gas emissions.

Shift to Electric Trucks in the US

On Friday, the Biden administration issued a finalized rule aimed at driving a larger portion of the US truck fleet towards electric vehicles (EVs). While specifics on the exact percentage of new heavy-duty truck sales expected to be electric still need to be made clear due to the rule's coverage of eight truck classes, officials anticipate electric truck sales surpassing 20% for the heaviest trucks by 2040.

OpenAI can now re-create human voices… Are we doomed? OpenAI introduces Voice Engine, a text-to-speech AI model capable of generating synthetic voices from a short audio segment. Despite showcasing audio samples on its website, OpenAI opts to keep the technology private due to perceived risks. Initially planning a pilot program for developers to access the Voice Engine API, the company reconsiders its approach, citing ethical concerns and scaling back its ambitions for the time being. Listen to astonishing examples here. 

Two decades of Gmail. Gmail transformed email with its speedy search and generous storage, altering our digital landscape forever. With an estimated 1.2 billion users, roughly 1/7 of the world's population, Gmail has become an indispensable tool for online activities. As it celebrates its 20th anniversary, we wonder where it is headed next.

Beyoncé's 'Cowboy Carter' Shatters Records

Beyoncé's latest album, "Cowboy Carter," has made history as Spotify's most-streamed album in a single day of 2024, marking the first time a country album has held this title in the year. Before its release, the single "Texas Hold' Em" amassed over 200 million streams. Additionally, the album boasts the biggest debut on Amazon Music globally, surpassing all of Beyoncé's previous releases, and achieves the highest first-day streams for a country album by a female artist in Amazon Music's history.

Cost of comfort: how much a family of four needs. According to a SmartAsset analysis, families in some of America's priciest cities need an income exceeding $275,000 to live comfortably. "Comfortable" living for a family of two adults and two children entails adhering to a 50/30/20 budget—50% for necessities like housing and utilities, 30% for discretionary spending, and 20% for savings or investments.

California fast-food workers' wage increase. Fast-food workers in California, employed by chains with over 60 national locations, now enjoy a $20 hourly wage. This adjustment prompts other business owners, even those not subject to the law, to consider raising wages to remain competitive in the evolving labor market. 

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