The Daily Factum
Deprogramming the News
Breaking News
Toronto's Historic Flood of 2024: Drake's Luxurious Mansion Among Properties Affected
Broke On: Wednesday, 17 July 2024Record-breaking storms on July 17, 2024, caused severe flooding in Toronto, affecting residents and high-profile figures like rapper Drake. His mansion in the Bridle Path district was among the properties hit hard by floodwaters. The heavy rainfall led to urban flooding and left around 167,000 customers without power. This marks a new urban flooding reality for Toronto, surpassing previous river flooding records. 
Nintendo World Championships: NES Edition - A Fresh Challenge for Classic Games
Broke On: Wednesday, 17 July 2024Compete in the Nintendo World Championships: NES Edition, a new game featuring over 150 challenges across 13 classic NES titles. Players can improve skills through local and online modes, focusing on speedrunning for points and unlocking new challenges. Inspired by the original 1990 competition, this game offers unique features like World Championships Mode for leaderboards and Survival Mode against ghost data. 
EssilorLuxottica Acquires Supreme for $1.5 Billion: Expanding into Streetwear and Connecting with New Audiences
Broke On: Wednesday, 17 July 2024EssilorLuxottica, the eyewear giant, acquired Supreme brand from VF Corporation for $1.5 billion in July 2024. Known for its limited-edition clothing and accessories releases, Supreme's loyal following includes celebrities and young customers. EssilorLuxottica aims to maintain the brand's exclusive sales approach while expanding into streetwear, complementing their existing portfolio. 
HSBC Appoints Georges Elhedery as New CEO: Continuity Amid Challenges
Broke On: Wednesday, 17 July 2024HSBC appoints Georges Elhedery as new CEO, marking the third leadership change in less than eight years. Elhedery, who has been with HSBC since 2005 and previously served as co-head of Global Banking and Markets, takes over from Noel Quinn on September 2, 2024. Despite facing challenges such as the lingering bad loans crisis in China and geopolitical tensions between China and the West, investors view Elhedery's appointment as a positive move due to his clear communication skills and experience within the company. 
Former CIA Analyst Sue Mi Terry Indicted for Unregistered Work as South Korean 'Secret Agent': Luxury Gifts, Off-the-Record Meetings, and Covert Funding Alleged
Broke On: Tuesday, 16 July 2024Former CIA analyst Sue Mi Terry indicted for passing confidential information to South Korean intelligence and accepting luxury gifts in exchange, facing charges for violating the Foreign Agents Registration Act. 
US Export Restrictions and Geopolitical Tensions Send Global Chip Stocks Plummeting: ASML, Nvidia, TSMC, and Tokyo Electron Affected
Broke On: Wednesday, 17 July 2024Global chip stocks plummeted on July 17, 2024, due to reports of tighter US export restrictions and escalating geopolitical tensions with China. The Biden administration is considering new regulations under the FDPR that could impact non-US companies like ASML and TSMC. Meanwhile, Trump's comments on Taiwan's defense have raised doubts about US commitment to defend the island if he returns to power. TSMC is expected to report a 30% rise in second-quarter profit due to soaring demand for advanced chips, but geopolitical tensions and potential export restrictions weighed on the sector. 
Southern Europe Sweats Through Record-Breaking Heat Wave: Vulnerable Populations Brace for Severe Conditions and Wildfires
Broke On: Thursday, 11 July 2024A scorching heat wave in southern Europe has broken temperature records, reaching over 40 degrees Celsius (104 degrees Fahrenheit) in some areas. The extreme weather conditions have led to severe warnings, measures to protect vulnerable populations, and record energy consumption. Italy and several other countries have declared states of emergency due to the heatwave, which has also caused wildfires and power outages. 
King Charles III Announces Labour Government's Agenda: Clean Energy, Infrastructure Reforms, and Economic Growth
Broke On: Wednesday, 17 July 2024In July 2024, King Charles III delivered the State Opening of Parliament, outlining the new Labour government's agenda. Commitments included a clean energy transition, infrastructure reforms, and legislation on artificial intelligence. The Labour party won a landslide majority and proposed policies included nationalizing rail operators and creating a publicly-owned clean power company. 
Midwest Tornadoes: At Least Two Dead, Thousands Without Power After Illinois and New York Storms
Broke On: Tuesday, 16 July 2024On July 16, 2024, multiple tornadoes hit the Midwest, causing widespread damage and power outages in several states including Illinois and New York. At least two people were killed and over 110,000 people lost power across New York alone. Governors in both Illinois and New York declared states of emergency as the storms also affected southern Wisconsin, Michigan, and Nashville, IL. 
Nikki Haley Delivers Surprising Speech at Republican National Convention
Broke On: Wednesday, 17 July 2024Former South Carolina Governor Nikki Haley, once a fierce primary rival of Donald Trump, delivered a speech at the Republican National Convention that drew mixed reactions from the audience.