Transcript

Hello and welcome to “Just a Moment News,” I’m your host, Erika, bringing you today’s headlines on August 12, 2024. Let’s dive into the news stories of the day.

Starting off, a recent survey conducted by Wonga, which involved nearly four thousand five hundred South African adults, has shown that many are cutting back on essentials like food and groceries. This is being done to maintain payments for medical aid, insurance, and home security amid rising living costs and inflation. The survey highlighted significant portions of income being consumed by rent or bond payments and medical aid, with some low-income earners dedicating up to fifty-one percent of their salary to debt repayment. Over half of the respondents were unable to save monthly, and nearly sixty percent were not contributing to retirement savings, with older age groups particularly vulnerable despite higher incomes.

In entertainment news, Disney has unveiled plans to invest sixty billion dollars in expanding its theme park and cruise businesses over the next decade. These plans include four new cruise ships and extensive expansions to its theme parks, such as a new “land” in Magic Kingdom dedicated to Disney villains and multiple new attractions at Disneyland. These projects are part of a broader strategy to enhance its offerings amidst challenges like weakened theme park profits and increased competition.

From San Francisco, there’s an interesting story involving Waymo’s self-driving taxis. Sophia Tung, a software engineer, has been livestreaming a parking lot used by these robotaxis during their downtime. This stream, which started in early August, offers a continuous view of the lot where the cars gather, often creating a chaotic scene of autonomous parking, especially around 4 AM. Despite occasional honking issues, which Waymo is working to fix, Tung finds the activity amusing and enjoys observing the comings and goings of the robotaxis.

In film news, Doug Liman, the director of “Road House,” expressed frustration over the film’s release on streaming platforms. Despite the film attracting fifty million viewers in its first two weeks on Prime Video, Liman, along with lead actor Jake Gyllenhaal and producer Joel Silver, did not receive any backend payments. This issue highlights ongoing industry challenges around fair compensation in the streaming era.

Turning to corporate news, JPMorgan Chase has launched an AI assistant named LLM Suite, powered by multiple large language models, to over sixty thousand employees across various departments. This move is part of JPMorgan’s broader strategy to leverage AI for competitive advantage, aiming to unlock one point five billion dollars in value this year.

Lastly, in sports, Kinzang Lhamo of Bhutan received a standing ovation for her last-place finish in the marathon at the Paris Games. Despite the challenging conditions, Lhamo, who was Bhutan’s only female athlete in the Games, was cheered on by spectators as she slowed to a walk during the final kilometers. Her perseverance and determination were seen as embodying the Olympic spirit.

That wraps up today’s news on “Just a Moment News.” I’m Erika, and I hope you found these stories insightful. Join us again next time for more updates. Have a great day!

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