For Wednesday, August 27th, 2025
>>Stocks Close Slightly Higher As Fed Responds To Cook Issue
(New York, NY) -- Wall Street closed slightly higher Tuesday ahead of quarterly earnings from chip giant Nvidia. Investors largely shook off President Trump's removal of Federal Reserve Governor Lisa Cook from the central bank's board. Cook plans to file a lawsuit and the Fed said it will abide by any court decision on the matter. At the closing bell, the Dow Jones Industrial Average gained 135 points to 45-418. The S&P 500 added 26 points to 64-65. The Nasdaq rose 94 points to 21-544.
>>Lisa Cook To Sue Over Fed Board Firing
(Washington, DC) -- Federal Reserve Board Governor Lisa Cook is moving to file a lawsuit challenging her removal by President Trump. According to an attorney for Cook, "Trump has no authority to remove Cook," and the firing "lacks any factual or legal basis." Cook's removal follows a Justice Department criminal investigation into the board governor after she was accused of making false statements on home mortgage applications by Federal Housing Finance Agency Bill Pulte. If Cook does sue, the case could end up being decided by the Supreme Court.
>>India Slammed With High Tariffs For Buying Russian Oil
(Washington, DC) -- India is being hit with 50-percent tariffs from the U.S. as punishment for buying oil from Russia. The tax on imports from India went into effect on Wednesday. The U.S. and India have yet to reach a trade agreement, and President Trump has been insisting that India stop buying Russian oil while negotiations are underway to end the war in Ukraine. Vice President JD Vance told "Meet the Press" on Sunday that the U.S. was applying "aggressive economic leverage" on India to "try to make it harder for the Russians to get rich from their oil economy."
>>Consumer Confidence Dips In August
(New York, NY) -- Consumer confidence dipped in August. The Conference Board's Consumer Confidence Index fell by more than a point from the July reading as consumers became less optimistic about the economy. The monthly survey noted concerns about tariffs and higher prices including food and groceries rose again in August. Purchasing plans for homes remained stable while discretionary spending for dining out, entertainment and vacations were all down.
>>Cracker Barrel Drops New Logo
(Lebanon, TN) -- Cracker Barrel is doing a 180, and ditching its new logo. Cracker Barrel unveiled its new logo last week that got rid of an older man leaning against a barrel. The response was mostly negative, and late Tuesday, the company said in a statement, "Our new logo is going away and our 'Old Timer' will remain." Even President Trump weighed in on the controversy, advising the restaurant chain should "admit a mistake based on customer response."
>>Disney Sues Dish Over Sling TV Packages
(Undated) -- Disney is suing Dish Network over several new packages offered by Sling TV. The internet TV service recently introduced passes that allow customers to pay for a week, weekend, or even a single day of live TV. Disney is now suing Dish Network, which owns Sling, claiming this violates Disney's programming distribution agreements. Sling customers are currently able to watch Disney and ESPN programming through monthly subscription plans, and Disney claims any shorter subscription violates the agreement between it and Dish Network.
>>Fox And YouTubeTV Carriage Dispute
(Undated) -- Fox Corporation and Google-owned YouTube are engaged in a carriage dispute that could impact viewers. YouTube said it may remove channels including Fox Broadcast Network, Fox News and Fox Sports from its TV streaming platform if it doesn't reach an agreement with Fox Corporation. The renewal date is set for August 27th, and the company has emailed YouTube TV subscribers about the potential fallout with Fox. YouTube said it will provide a ten-dollar credit to users if Fox content does go offline for an extended period, and members can also watch by signing up for Fox's streaming service, Fox One.
>>General Motors Recalling Over 23K Corvettes
(Detroit, MI) -- General Motors is recalling over 23-thousand Chevrolet Corvettes. The National Highway Traffic Safety Administration says the vehicles were recalled because of a fuel leak issue that increases the risk of a fire during refueling. The recall affects Corvette models from years 2023 to 2025. NHTSA says roughly point-one-percent of the vehicles recalled have the defect.
