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From iOS 18.1 to Meta AI Studio and More! | Tech News

As the week winds down, we are wrapping up the top tech stories from across the web. From iOS 18.1 to Meta AI Studio and more, we have you covered with this week’s major headlines. Read on for what’s happening in the world of tech!

Apple Releases Developer Betas for iOS 18.1, iPadOS 18.1, and macOS Sequoia 15.1

Apple has launched developer betas for iOS 18.1, iPadOS 18.1, and macOS Sequoia 15.1, introducing its first set of AI features. Highlights include an updated Siri that maintains context across requests, smart replies and email summaries in Mail, and natural language search in Photos. While some features will roll out later, requiring devices with Apple Silicon chips, users must join a waitlist to access the updates. Apple also released a second public beta for iOS 18, featuring RCS support, new CarPlay wallpapers, and dark mode widgets. The AI features were first announced at the June Worldwide Developers Conference.

Google Expands “School Time” Feature to More Devices

Google is expanding its “School Time” feature to select Android phones, tablets, and Samsung Galaxy Watches over the next year, allowing parents to limit their child’s device functionality during school hours. Initially launched on the Fitbit Ace LTE smartwatch, this feature helps reduce classroom distractions by restricting access to certain apps, phone calls, and message notifications. Parents can manage these settings via the Family Link app. Additionally, teens can use Focus mode to block notifications independently. Later this summer, parents will also be able to link their YouTube accounts with their teens’ for activity monitoring. Specific supported devices have not yet been disclosed.

Sony to Develop New Headphones for NFL Coaches

Sony is partnering with the NFL to create new headphones for coaches, set to debut in the 2025 season. These headphones are being developed from scratch to endure various weather conditions and function in loud stadiums, using Verizon’s private 5G networks for communication. Sony’s team is collaborating closely with NFL operations to meet specific needs. Additionally, Sony will be the NFL’s official technology partner, expanding the use of its Hawk-Eye tracking technology for measuring first downs and developing advanced officiating tools.

Intel to Unveil Next-Gen Core Ultra Chips on September 3rd

Intel will reveal its next generation of Core Ultra laptop chips, codenamed Lunar Lake, on a September 3rd livestream. These chips, designed to compete with Qualcomm’s and Apple’s Arm-based chips, promise improved battery life and performance with a redesigned architecture that eliminates swappable memory sticks and triples the NPU for local AI applications. While the full reveal is imminent, availability details will be announced later. Intel’s launch follows AMD’s shipment of Ryzen AI chips, intensifying the competition in the laptop market.

Meta Launches “Layout” App for Quest 3 Headsets

Meta is introducing a new app, “Layout,” for its Quest 3 headsets, available with the v68 update. Layout allows users to measure and visualize changes in their home by measuring furniture and placing virtual objects in real-world environments. The update also includes an experimental AI assistant, currently available in English in the US and Canada, that can answer questions about the user’s environment. Additional features include the ability to download multiple games simultaneously, pair Touch controllers from within the headset, and new audio-level balance tools.

Meta Introduces AI Studio for Creating AI Profiles on Instagram

Meta’s new AI Studio tool allows anyone in the US to create AI versions of themselves for Instagram and the web. Aimed at creators and business owners, these AI profiles can interact with followers, respond to comments, and manage chat threads on their behalf. Users can customize their AI based on their content, set auto-replies, and specify interaction permissions. AI Studio also enables the creation of new AI characters across Meta’s apps.

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Mortgage Rate Update | August 1, 2024

Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of August 1st, 2024, were as follows: The 30-year fixed mortgage rate was 6.73%, down from 6.78% last week. The 15-year fixed was 5.99%, down from 6.07% last week.

The graph below shows the trajectory of mortgage rates over the past year.

Freddie Mac was chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Their mandate is to provide liquidity, stability, and affordability to the U.S.

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Economic Update | Month Ending July 31, 2024

Economic news this week – As Real Estate Brokers we are focused on inflation. Higher inflation drives mortgage interest rates higher. Higher mortgage rates make homes less affordable. Key economic reports released in July confirmed that inflation has cooled to levels that are more acceptable to the Federal Reserve. The Consumer Price Index (CPI) for June came in better than expected. Month-over-month the CPI dropped 0.1%, its first month-over-month decrease since May 2020, at the peak of the pandemic. Year-over-year the CPI rate was 3%, its lowest level in three years, and down from a 3.3% increase in May. Core CPI, which excludes volatile food and energy costs was up 3.3% year-over-year, its smallest increase since April 2021. The June Producer Price Index (PPI) showed year-over-year wholesale prices are up 2.6%. The Personal Consumption Expenditures Price Index (PCE), a key indicator for the Fed, showed that consumer prices rose 2.5% in June from one year ago. That is the lowest annual increase in two years. Core PCE, which excludes volatile food and energy prices, grew 2.6% year-over-year. While the Fed left interest rates unchanged from their 25-year high levels at their July meeting, they stated that rate cuts could start as soon as the next Fed meeting in September. They hinted that they did not want to seem political as a reason for not dropping rates in their July 31 announcement, so it’s possible that even though experts surveyed gave a 97% chance of rate drops beginning in September, the Fed waits until November. One thing is for sure, it’s not a matter of if a cycle of rate drops is coming, it is a matter of when the Fed will start. Mortgage rates dropped further after the Fed’s comments on July 31. In other news, the U.S. Gross Domestic Product GDP reading showed that the economy grew at a 2.8% annual pace in the second quarter, beating analysts’ expectations of a 2.1% jump. Perhaps the Fed will get inflation under control without causing a recession and pull off a “soft landing” after all.

The graph below shows the movement in the inflation rate since 2021.

Stock Markets – The Dow Jones Industrial Average closed the month at 40,842.79, up 4.4% from 39,118.86, on June 30, 2024. It is up 8.4% year-to-date. The S&P 500 closed the month at 5,522.30, up 1.1% from 5,460.48 last month. It is up 15.8% year-to-date. The NASDAQ closed the month at 17,599.40, down 0.8% from 17,732.60 last month. It is up 17.2% year-to-date.

U.S. Treasury bond yields – The 10-year treasury bond closed the month yielding 4.09%, down from 4.36% last month. The 30-year treasury bond yield ended the month at 4.35%, down from 4.51% last month. We watch bond yields because mortgage rates often follow treasury bond yields.

Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of July 25, 2024, were as follows: The 30-year fixed mortgage rate was 6.78%, down from 6.86% at the end of May. The 15-year fixed was 6.07%, down from 6.16% last month.

The graph below shows the trajectory of mortgage rates over the past year.

Freddie Mac was chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Their mandate is to provide liquidity, stability, and affordability to the U.S.

Home sales data is released on the third week of the month for the previous month by the National Association of Realtors and the California Association of Realtors. These are June’s home sales figures.

U.S. existing-home sales June 2024 – The National Association of Realtors reported that existing-home sales totaled 3.89 million units on a seasonally adjusted annualized rate in June, down 5.4% from an annualized rate of 4.11 million last June. The median price for a home in the U.S. in June was $426,900, up 4.1% from $410,109 one year ago. There was a 4.1-month supply of homes for sale in June, up from a 3.1-month supply one year ago. First-time buyers accounted for 29% of all sales. Investors and second-home purchases accounted for 16% of all sales. All cash purchases accounted for 28% of all sales. Foreclosures and short sales accounted for 2% of all sales.

California home prices jumped 7.5% from one year ago in June – The California Association of Realtors reported that existing home sales totaled 270,200 on an annualized rate in June, down 2.7% from a revised 277,960 homes sold on an annualized basis last June. There was a 3-month supply of homes for sale, up from a 2.2-month supply one year ago. The statewide median price paid for a home in June was $900,720, up 7.5% from a revised median price of $837,850 one year ago.

The graph below shows sales data by county in Southern California.
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The Best Local Thai Restaurants | L.A. Eats

Thailand is home to the delightful foods that have made their way into South California. Regardless of location, you will find a luxurious place to enjoy an excellent rendition of Tom Khai Gai, Fragrant soups, Pak Phuk Tong, Yam Pla Dook Foo, and other staple dishes from Thai cuisine.

Read on for our top picks to enjoy around town! 

Night + Market

Location: 9043 Sunset Blvd, West Hollywood, CA 90069

West Hollywood residents enjoy Thai cuisine in an authentic restaurant. Night + Market is known for its flavorful and exotic food. A taste of chef Kris Yenbamroong’s talent will leave you wanting more. Make sure to order “Hidden Treasures” or a whole fish dish.

Araya’s Place

Location: 8101 1/2 Beverly Blvd. Los Angeles, CA 90048

Vegans can visit Araya’s place for the vegan version of Thai Dishes. This family-owned eatery serves signature dishes, such as drunken mushroom noodles and avocado curry. You will find many cuisines to choose from on the menu. 

Galanga Thai Fusion

Location: 7440 Santa Monica Blvd. West Hollywood, CA 90046

This WeHo eatery offers modern fusion dishes and traditional Thai favorites. Galanga is an unexpectedly pleasant restaurant that welcomes you with wall-mounted bud vases and traditional art. On the menu, you will get contemporary renditions of noodle-like shredded papaya and buffalo chicken wings.

Talesai

Location: 11744 Ventura Blvd. Studio City, CA 91604

Talesai is known for clean, flavorful, upscale Thai cuisines that go beyond the norm. The menu here exceeds the predictable traditional cuisines around town. Consider ordering grilled lamb chops, grilled rib-eye steak, or pacific calamari and plum sauce for dessert when you visit this style-conscious contemporary restaurant.

Emporium Thai

Location: 1275 Westwood Blvd LA, CA 90024 Westwood

Visit Emporium Thai for authentic cooking. The restaurant was featured in U.S. top 100 best Thai restaurants for making popular dishes such as Pad See Ew, Southern Curry, and Pad Thai.

Lum Ka Naad

Location: Encino | Northridge | Woodland Hills

Get an authentic Thai experience from a crash course of delicious Thailand food in the heart of the San Fernando Valley. Top dishes at Lum Ka Naad include a fusion of northern and Southern Thailand foods. Northern cuisines include crossovers from China, Laos, and neighboring Burma. Order specialties such as Khai soy, pla pling, and Tai pla country soup.

Jitlada

Location: 5223 W Sunset Blvd, Los Angeles 90027-5709

You will find a 300-dish menu comprising rarely-seen specialties. This authentic Thai restaurant in East Hollywood serves specialties such as khua Kling phat tha lung, steamed green mussels, fried soft-shell crab, and deep-fried whole sea bass.

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LA’s Most Scenic Drives | Out & About

Los Angeles, the City of Angels, is renowned for more than its celebrity homes, glitzy boutiques, and cutting-edge culinary scenes. It’s a city that promises captivating views at every turn, especially when explored on four wheels. As a leading luxury real estate brokerage, we’ve been fortunate enough to view LA from some of its most exquisite vantage points. Today, we’re taking you on a journey, introducing you to the most breathtaking scenic drives, all infused with a touch of luxe.

Mulholland Drive

LA's Most Scenic Drives

Often featured in Hollywood blockbusters, Mulholland Drive winds its way through the Santa Monica Mountains, offering panoramic views of the LA basin and the San Fernando Valley. Imagine driving in your convertible, the wind tousling your hair as you glide past multi-million-dollar mansions. Make a stop at the popular Mulholland Scenic Overlook for a sunset photo op – and perhaps to glimpse a celebrity residence or two!

Pacific Coast Highway (PCH)

A road trip along PCH is nothing short of iconic. Start in Santa Monica and cruise northwards to Malibu. With the vast Pacific Ocean to your right and dramatic cliffs to your left, the PCH promises unspoiled views. For a luxury pit stop, consider lunching at Nobu Malibu, where gourmet sushi and celebrity sightings come as standard.

Sunset Boulevard

From Beverly Hills to the Sunset Strip, this drive encapsulates the true essence of LA glamour. While many travel this boulevard for its shopping and dining, it’s the picturesque neighborhoods and palm-lined streets that steal the show.

Griffith Park Drive

For those looking for a blend of natural beauty and urban scenery, Griffith Park Drive is a must. As you approach the Griffith Observatory, you’re greeted by sweeping views. And, if you fancy a luxurious evening, the Greek Theatre, nestled within the park, hosts world-class concerts under the stars.

Topanga Canyon Boulevard

LA's Most Scenic Drives

Venturing slightly off the beaten path, Topanga Canyon offers a more rustic driving experience. Lush greenery, unique art colonies, and bohemian vibes abound. It’s a reminder that even in the midst of urban LA, serene nature spots await.

As you explore these routes, remember that the journey can be just as luxurious as the destination. Whether you’re seeking your next dream home or simply indulging in the city’s visual delights, Los Angeles’ scenic drives are an affair to remember.

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Hosting the Perfect Summer Soirée | Home Tips

As August arrives, there’s no better way to celebrate the season than by hosting an unforgettable outdoor soirée. For luxury homeowners in Southern California, the options for creating a sophisticated and memorable event are endless. Whether you’re planning an intimate dinner party or a grand gathering, these tips will help you curate a luxurious and memorable outdoor dinner party, complete with high-end catering, drinks that showcase local flavors, and an elegant and functional entertaining space.

Setting the Scene

Creating an unforgettable late-summer soirée starts with setting the scene. Begin by selecting a theme or color palette that reflects the season’s beauty. Think about incorporating soft, warm hues inspired by the sunset or rich, vibrant tones reminiscent of the late summer blooms. High-quality linens, elegant tableware, and exquisite floral arrangements are essential for elevating your table setting. Consider adding personal touches such as custom place cards or monogrammed napkins to make your guests feel extra special.

Lighting the Ambiance

Lighting plays a crucial role in creating the perfect ambiance for your outdoor event. Use a combination of string lights, lanterns, and candles to cast a warm, inviting glow as the sun sets. For a touch of glamour, consider incorporating chandeliers or candelabras. Don’t forget to provide cozy blankets or throws for guests to use as the evening cools down.

Gourmet Cuisine

The culinary experience is at the heart of any successful soirée. To impress your guests, consider hiring a high-end catering service that specializes in gourmet cuisine. Focus on a menu that highlights the best of Southern California’s local flavors and seasonal ingredients. Fresh seafood, organic produce, and artisanal cheeses can be the stars of your menu. Offer a variety of dishes to cater to different dietary preferences, including vegetarian and gluten-free options.

Curated Drink Selection

When it comes to drinks, showcase local wineries and craft breweries. A curated selection of fine wines and craft beers can elevate your event and provide a unique taste of the region. Consider creating a signature cocktail that embodies the essence of late summer. Think refreshing and vibrant – perhaps a citrus-infused gin and tonic or a blackberry mojito. For a non-alcoholic option, offer sparkling water with fresh fruit and herbs for a sophisticated touch.

Elegant Outdoor Space

The key to a successful outdoor event is creating a space that is both elegant and functional. Begin by assessing your outdoor area and determining the best layout for dining and socializing. Ensure there is ample seating for all guests, and consider using a mix of dining tables and lounge areas to encourage mingling.

Comfortable Seating

Comfort is paramount, so invest in high-quality outdoor furniture that is both stylish and comfortable. Add plush cushions, pillows, and throws to enhance the comfort and aesthetic appeal of the space. Shade is also important, especially during the late summer heat. Use umbrellas, pergolas, or canopies to provide relief from the sun while maintaining an open and airy feel.

Well-Appointed Bar

Don’t forget to set up a well-appointed bar area where guests can easily access drinks. Stock it with all the essentials, including glassware, mixers, and garnishes. For an added touch of luxury, consider hiring a professional bartender to craft and serve beverages throughout the evening.

Hosting the perfect late-summer soirée is all about attention to detail and creating an environment where your guests feel pampered and relaxed. By curating a luxurious dinner party, showcasing local flavors through high-end catering and drinks, and setting up an elegant and functional entertaining space, you can ensure your event will be remembered fondly long after the summer ends. Cheers to celebrating in style!

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Economic Update | Week Ending July 27, 2024

Economic news this week – The second quarter Gross Domestic Product (GDP) was released this week. It showed that the economy grew 2.8% in the second quarter, exceeding analysts’ expectations of a 2.1% increase. Technology stocks continued to drop for a third straight week. On the inflation front, the Personal Consumption Expenditures Price Index (PCE), a key indicator for the Fed, was released on Friday. It showed that consumer prices rose 2.5% in June from one year ago. That is the lowest annual increase in two years, another indication that inflation is cooling. Core PCE, which excludes volatile food and energy prices, grew 2.6% year-over-year. Economists surveyed gave just an 8% chance of a rate drop at the Fed meeting next week but gave a 92% chance of a rate drop at the September Fed meeting. All the experts agree that a rate drop cycle is not far off, as the Fed’s key rates currently at a 25-year high have successfully tamed inflation.

Stock markets – The Dow Jones Industrial Average closed the week at 40,589.34, up 0.8% from 40,257.53 last week. It is up 7.7% year-to-date. The S&P 500 closed the week at 5,459.10, down 0.8% from 5,505.00 last week. The S&P is up 14.5% year-to-date. The Nasdaq closed the week at 17,357.88, down 2.1% from 17,726.94 last week. It is up 15.6% year-to-date.

U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 4.20%, down from 4.25% last week. The 30-year treasury bond yield ended the week at 4.45%, unchanged from 4.45% last week. We watch bond yields because mortgage rates follow bond yields.

Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of July 25, 2024, were as follows: The 30-year fixed mortgage rate was 6.78%, unchanged from 6.77% last week. The 15-year fixed was 6.07%, almost unchanged from 6.05% last week.

The graph below shows the trajectory of mortgage rates over the past year.

Freddie Mac was chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Their mandate is to provide liquidity, stability, and affordability to the U.S.

U.S. existing-home sales June 2024 – The National Association of Realtors reported that existing-home sales totaled 3.89 million units on a seasonally adjusted annualized rate in June, down 5.4% from an annualized rate of 4.11 million last June. The median price for a home in the U.S. in June was $426,900, up 4.1% from $410,109 one year ago. There was a 4.1-month supply of homes for sale in June, up from a 3.1-month supply one year ago. First-time buyers accounted for 29% of all sales. Investors and second-home purchases accounted for 16% of all sales. All cash purchases accounted for 28% of all sales. Foreclosures and short sales accounted for 2% of all sales.

Have a great weekend!

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Mortgage Rate Update | July 25, 2024

Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of July 25, 2024, were as follows: The 30-year fixed mortgage rate was 6.78%, up from 6.77% last week. The 15-year fixed was 6.07%, up from 6.05% last week.

The graph below shows the trajectory of mortgage rates over the past year.

Freddie Mac was chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Their mandate is to provide liquidity, stability, and affordability to the U.S.

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From Warner Bros. to Nasa and More! | Tech News

Connect with the latest news happening in the world of tech. From Warner Bros. to Nasa and more, we have you covered on what’s buzzing. Read on for our weekly tech news round-up!

Google Upgrades Gemini AI Chatbot with New Features

Google’s Gemini AI chatbot has received an upgrade to the Gemini 1.5 Flash AI model, enhancing its speed and content processing capabilities. According to Amar Subramanya, VP of engineering for Gemini, users will notice significant improvements in response time, reasoning, and image understanding. The chatbot’s context window has been expanded to process 32K tokens at once. The 1.5 Flash model, announced at Google I/O in May, is now available in the free version of Gemini on both web and mobile platforms. Additionally, Gemini will now provide links to related content for fact-seeking prompts, accessible by clicking a gray arrow at the end of a paragraph. Google is also introducing Gemini gradually in Google Messages for users in the European Economic Area, the UK, and Switzerland. Furthermore, Gemini for teens will be available in over 40 languages starting next week.

Amazon Prime Video Secures 11-Year Deal for NBA and WNBA Games

Amazon’s Prime Video has signed an 11-year deal to stream NBA and WNBA games starting with the 2025-2026 season, including 66 regular-season and 20 playoff games annually. The partnership, also involving Disney and NBCUniversal, will bring games to ESPN, ABC, NBC, Disney’s upcoming ESPN streaming service, and Peacock. Financial commitments are significant, with Disney paying $2.62 billion, Comcast $2.45 billion, and Amazon $1.93 billion annually. This marks a shift from the NBA’s long-standing partnership with TNT. Prime Video’s coverage will feature Friday night games, select Saturday afternoon games, Thursday night doubleheaders, the NBA Cup, Play-In Tournament, NBA League Pass, and half of the NBA Summer League games.

NASA Successfully Tests Laser Communications for Space Missions

NASA researchers have successfully tested laser communications in space by streaming 4K video from an airplane to the International Space Station (ISS) and back. This breakthrough could enable live coverage of Moon landings during the Artemis missions and enhance optical communications for future Mars missions. Using infrared light, laser communications can transmit data 10 to 100 times faster than traditional radio waves. In the test, an airplane equipped with a portable laser terminal flew over Lake Erie, sent data to Cleveland, which was then relayed to NASA’s Laser Communications Relay Demonstration (LCRD) satellite and the ISS. Despite delays in the Artemis missions, the fourth mission aims to bring humans back to the Moon. Likewise, this would potentially provide clear 4K livestreams of astronauts on mainstream 8K TVs.

Apple Maps Launches Beta Web Version

Apple Maps is now available on the web through beta.maps.apple.com, offering driving and walking directions, ratings, and reviews. The web version mirrors many features of the iOS app, such as viewing guides, ordering food, and exploring cities. Apple plans to add more features, like Look Around, in the coming months and will expand language and browser support. This official web launch aims to enhance Apple Maps’ competitiveness against Google Maps and open-source alternatives like the Overture Maps Foundation.

Warner Bros. Games Acquires Player First Games

Warner Bros. Games has acquired Player First Games, the developer behind the new free-to-play platform fighter “MultiVersus.” Player First Games will continue to be led by co-founders Tony Huynh and Chris White, now reporting to Carlos Barbosa, VP and studio head of Warner Bros. Games San Diego. “MultiVersus,” developed with support from Warner Bros. Games San Diego, features a roster of popular characters from Warner Bros. Discovery franchises and is available on PlayStation, Xbox, and PC. The acquisition follows significant layoffs across the gaming industry, affecting major companies like Microsoft, Sony, EA, Take-Two Interactive, and Riot Games.

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