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Australia's Bold Move to Ban Social Media for Under-16s

2024-11-27

Australia is currently contemplating a significant step by proposing to ban social media for kids under 16. This proposed ban is one of the most stringent globally and would mandate platforms to implement age checks, potentially through the use of biometrics or government-issued IDs. In contrast to similar laws in countries like France, Australia will not permit parental consent to override this rule. This decision has ignited intense debates regarding whether such bans actually safeguard children or simply drive them towards more perilous areas of the internet.

LinkedIn's Unique Response

Amongst all this commotion, LinkedIn's reaction is rather remarkable - not due to any drama but because of its hilariously self-aware stance. The professional networking giant playfully informed Australian lawmakers that "We're way too boring for kids." This isn't an unfounded claim. While platforms like TikTok and Snapchat thrive on flashy trends and viral content, LinkedIn focuses on professional discussions, sharing insights on corporate strategies, networking tips, and workplace updates.When looking at the numbers, it becomes evident that LinkedIn isn't the go-to place for teens seeking entertainment. The platform has around 1 billion users worldwide, but a significant portion of these users do not log in on a regular basis. Many people admit to going months without opening the app, unlike TikTok or Instagram, which are frequented daily (or even hourly). LinkedIn primarily attracts professionals, with the majority of its users falling within the 25 - 34 age range, followed by those in their late 30s and 40s.This legislation emerges from the growing evidence about the impacts of social media on young minds. Teens using highly addictive platforms face risks such as cyberbullying, body image concerns, and algorithm-driven exposure to harmful content. It's understandable why apps with flashy features and continuous entertainment loops are targeted. LinkedIn lacks the memes, dances, and drama that entice kids into TikTok, Instagram, or X (formerly Twitter). It serves as a platform for resumes, job hunting, and professional connections. Although it may seem dull to teens, in this context, it could potentially be its greatest asset.The Australian government's consideration of this ban highlights the need to address the potential harms associated with social media use among younger age groups. While LinkedIn may not be the platform of choice for teens, it plays a crucial role in the professional world. By implementing such measures, Australia is taking a proactive approach to protect the well-being of its younger citizens and ensure they have a safe online environment.

Jason Kelce's family life is a topic of much interest. His fourth child is on the way, and his brother Travis is already giving him some friendly advice. Let's delve into their conversations and the future of the Kelce family.

The Kelce Brothers and Their Baby Talk

Jason's Joy over Baby No. 4

Jason Kelce and his wife are truly excited about their fourth child. As he shared on "New Heights," he expressed immense love for his daughters and the fact that another baby is on the horizon is beyond exciting. It's a time of great anticipation for the family.There's a sense of joy and wonder in the air as they prepare for the arrival of the new addition. Jason's words show the depth of his feelings for his family and the significance of this new chapter.

Travis' Encouragement for a Fifth

Travis Kelce, on the other hand, is eager for a fifth little Kelce to join the family. He playfully suggested "going for the starting five" and "fielding an infield." His enthusiasm is palpable, and it shows the close bond between the brothers.Travis clearly wants to see the family expand and have more little ones running around. His words add a touch of lightheartedness to the conversation while also highlighting his desire for a larger family.

Jason's Doubts and Considerations

Jason didn't rule out the possibility of a fifth child completely. Before starting their family, his wife Kylie was always desirous of having five. However, he's not sure if she still feels that way. There are practical considerations as well, as he joked that having a fifth child is "a lot of work."Jason's doubts are understandable. Balancing a growing family with his busy life is no small feat. But the possibility of a fifth child still lingers in the air, adding an element of uncertainty to the family's future.

The Current Family Situation

Jason and Kylie currently have three daughters - Wyatt, Elliotte, and Bennett. They are eagerly awaiting the arrival of the fourth child, which is expected in a few months. The family is filled with love and excitement as they prepare for this new addition.Travis, on the other hand, is still childless. But there seems to be a whole lot of Swifties out there hoping that number changes soon. The Kelce family's story is one of growth and change, and everyone is eagerly watching what the future holds.

In the world of finance, Wednesday witnessed a subtle downward movement in U.S. stock index futures. Investors found themselves on the edge, eagerly awaiting key economic data that holds the key to understanding the Federal Reserve's future monetary policy trajectory. The highly anticipated Personal Consumption Expenditure report, the central bank's preferred inflation gauge, is set to be released at 10 a.m. ET. According to economists polled by Reuters, prices are expected to rise by 2.3% on an annual basis in October, a notable increase from the previous month's 2.1% rise and above the Fed's 2% target.

Market Reactions and Analysts' Views

Even though the market has seemingly moved on from the U.S. inflation story, a sticky reading in the inflation data could potentially cast doubts on the Fed's plans to cut interest rates in December. As stated by ING analysts in a note, "Even though the market has largely moved on from the US inflation story, a sticky reading will add to doubts that the Fed needs to cut in December after all." The minutes from the Fed's November meeting, released on Tuesday, revealed that policymakers are uncertain about the outlook for interest-rate cuts and the extent to which the current rates are restricting the economy.Traders are now placing a 62.8% probability on the central bank lowering borrowing costs by 25 basis points in December, as per CME Group's (NASDAQ:CME) FedWatch Tool. Additionally, they are anticipating roughly 75 bps worth of rate cuts by the end of 2025, a significant decrease from the approximately 250 bps in September, as per data compiled by LSEG.

Global Concerns and Tariff Policies

There are growing concerns globally, particularly with U.S. President-elect Donald Trump's proposed tax cuts and tariff policies. His latest stance on imports from Mexico, Canada, and China has the potential to push up prices, spark a trade war, and weigh on global growth. Deutsche Bank (ETR:DBKGn) economists have forecasted that such tariffs could lift U.S. core PCE inflation for 2025 from 2.6% to 3.7% if fully implemented. Before Trump's victory, the expectation was for inflation to be at 2.3% next year.

Stock Market Movements and Key Movers

At 07:08 a.m., Dow E-minis showed a minor decline of 6 points, or 0.01%. The S&P 500 E-minis were down 9.75 points, or 0.16%, and the Nasdaq 100 E-minis dropped 69.75 points, or 0.33%. However, futures tracking small caps edged up by 0.7%. Equities have been on a rally this year, with Wall Street's main indexes and the small-cap Russell index trading near record highs. The benchmark S&P 500 is on track for its biggest one-month rise in a year and its sixth month of gains out of seven, as markets anticipate the positive impact of Trump's policies on local businesses and the overall economy.Investors will also be closely monitoring the second estimate for third-quarter gross domestic product, weekly jobless claims figures, and October's durables goods data, all due at 8:30 a.m. ET. Nervousness prevailed globally as China's state media warned about the potential for Trump's policy pledges to drag the world's top two economies into a destructive tariff war.Among the top movers, Dell (NYSE:DELL) slid 11.5% after issuing a weak quarterly revenue forecast. HP (NYSE:HPQ) also dropped 8.3% following a downbeat forecast for first-quarter profit, indicating a lackluster demand in the personal computer market. The sentiment spread to other tech names such as Nvidia (NASDAQ:NVDA), which fell 1.2%, Microsoft (NASDAQ:MSFT), off 0.6%, and Apple (NASDAQ:AAPL), which dropped 0.4%.Workday (NASDAQ:WDAY) lost 10.6% after forecasting fourth-quarter subscription revenue below expectations, likely due to weaker client spending on its human capital management software.Oil prices remained steady as investors kept a close eye on the ceasefire between Israel and the Lebanese armed group Hezbollah.