IRS announces new income tax brackets

China has pledged to strengthen its fiscal policy in 2024 in order to boost its struggling economy. This announcement came after a meeting of top Communist party officials and following Moody's downgrade of China's credit rating. The officials at the meeting, led by Xi Jinping, expressed the need to expand domestic demand and stabilize foreign trade and investment. They emphasized the importance of implementing proactive fiscal policy and prudent monetary policy, as well as preventing risks in key areas. The meeting was held at a critical time for China, as the country is facing deepening troubles due to a property market downturn and issues in the shadow banking system. Moody's predicts a slowdown in China's economic growth rate in the coming years. Despite these challenges, China is expecting growth of around 5% this year, compared to an average of 7.7% before the pandemic.

XpressGoods has issued a recall for Colorful Metal Neodymium Magic Magnetic Balls due to non-compliance with federal toy regulations. The US Consumer Product Safety Commission (CPSC) has warned about the dangers of swallowing small magnets, which have been linked to seven deaths. The CPSC has not provided an exact number of affected units as most companies have not agreed to recall their products. However, if voluntary recalls are not implemented, the CPSC may pursue legal action or initiate a mandatory recall process. The magnets in question are small enough to fit in a child's throat and are stronger than permitted. Swallowing these magnets can lead to serious health complications and even death. The CPSC estimates that there have been 2,500 emergency room visits related to magnet ingestions between 2017 and 2021, with two deaths occurring outside the United States. XpressGoods has recalled approximately 728 units of their colorful metal magnetic balls and advises consumers to stop using them immediately. The CPSC has also issued warnings for six other high-powered magnet sets, four of which are sold exclusively on the Temu marketplace. The CPSC has contacted the manufacturers of these products, but most have not agreed to recall or offer remedies to customers. Additionally, a magnetic ball set sold on the South Korean site myKmarket.com has been issued a warning. Many of these magnets are colorful and come in a clear plastic case. SplishSplash Balls reusable water balloons also contain powerful magnets, which are used to seal the water inside the balloon.

Elon Musk is calling for the dismissal of Bob Iger, the CEO of Disney. Musk criticized Iger for the decision to remove advertisements from his social media platform, calling for Iger to be fired immediately. Disney stopped advertising on Musk's platform after he endorsed an anti-Semitic conspiracy theory. Musk has faced backlash for promoting hate speech and conspiracy theories on his platform, leading to a decline in major advertising partners and financial struggles for his company. Despite this, Musk has shifted blame onto the advertisers rather than taking personal responsibility.

The University of Pennsylvania's board of trustees is having an emergency meeting today in response to the criticism received by school president Liz Magill following her performance at a House hearing earlier this week. The meeting was scheduled last-minute and is currently taking place virtually. This meeting has been arranged quickly due to the intense pressure faced by Magill after the hearing. It is uncertain whether this meeting will affect Magill's future at the university. The situation is still developing and updates will be provided.