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Good morning! Southwest Airlines will implement assigned seating in 2025, the U.S. economy grew by 2.4% in Q2 2024, Amazon is developing AI chips to compete with Nvidia.

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BUSINESS

Southwest Airlines Assigned Seating

Southwest Airlines plans to transition from its traditional open seating policy to assigned seating to enhance the passenger experience and streamline boarding. This change, set to be implemented in 2025, aims to improve overall efficiency and customer satisfaction.

Here's the breakdown:

• Southwest Airlines will implement assigned seating in 2025, moving away from its current open seating policy.

• The new seating system is expected to improve boarding efficiency and customer satisfaction.

• Southwest has historically used open seating to allow passengers to choose any available seat.

• The decision was influenced by customer feedback and a desire to enhance the travel experience.

• This change marks a significant shift in the airline's long-standing boarding process.

ECONOMY

U.S. Economy Grows at 2.4% in Q2

The U.S. economy grew at an annual rate of 2.4% in the second quarter of 2024, driven by strong consumer spending and business investments. This growth rate surpasses expectations and signals resilience amid ongoing inflation and interest rate hikes.

Here's the breakdown:

• The U.S. GDP increased by 2.4% in Q2 2024, surpassing expectations.

• Strong consumer spending and business investments were primary growth drivers.

• This growth reflects the economy's resilience despite inflation and rising interest rates.

• The Federal Reserve has been raising rates to combat persistent inflation.

• Economic indicators suggest continued moderate growth in the coming quarters.

CATEGORY

Amazon Takes On Nvidia

Amazon is accelerating the development of its own AI chips, aiming to offer cheaper and faster alternatives to Nvidia's offerings. This initiative is part of Amazon's broader strategy to enhance its AI capabilities and reduce dependency on external suppliers.

Here's the breakdown:

• Amazon is developing AI chips to compete with Nvidia, aiming for cost-effectiveness and speed.

• The new chips are part of Amazon's strategy to boost its AI capabilities.

• This development could reduce Amazon's reliance on external suppliers like Nvidia.

• Executives believe these chips will enhance Amazon's competitiveness in the AI market.

• The initiative aligns with Amazon's long-term goal of innovation and efficiency in technology.

APPENDIX

• NASA has not set a return date for the Mars rover due to ongoing technical assessments and challenges (Yahoo News).

• Simone Biles has impressed with her vault practice ahead of her return to competitive gymnastics (NBC News).

• Prince Harry's legal battles against UK tabloids are highlighted in a new documentary series (AP News).

• A new BBC article explores the impact of climate change on the Arctic ecosystem and wildlife (BBC).

• Google issues a security warning for Chrome users on Windows 10 and 11 due to a significant vulnerability (Forbes).

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