>>Trading Week Winding Down 

(New York, NY)  --  The opening bell rings this morning on Wall Street after stocks closed mixed on Thursday.  The Dow Jones Industrial Average managed to stand out, closing at a record high.  At the closing bell, the Dow gained 243 points to 41-335.  The S&P 500 dropped by less than a point to 55-91.  The Nasdaq fell by 39 points to 17-516.  Markets will be closed on Monday in observance of the Labor Day holiday.  

>>Trump Pledges To Cover IVF Costs If Elected President

(La Crosse, WI)  --  Former President Donald Trump says IVF costs will be covered by insurance if he's elected president.  The GOP nominee spoke Thursday at a campaign event in La Crosse, Wisconsin and said if he's elected in November he'll require the government or insurance companies to pay for in vitro fertility treatments.  Earlier in the day at a Michigan rally, Trump said his administration would push for allowing new parents to deduct "major newborn expenses" from their taxes.  

>>AI Regulation Bill Passed In California

(Sacramento, CA)  --  A bill that would create restrictions on artificial intelligence is headed to California Governor Gavin Newsom's desk.  The state legislature approved the measure Wednesday that if signed, could help set a national standard for regulating AI.  The bill would require companies to test their products for safety before they are made public.  It would also let the state attorney general sue companies when use of AI results in property damage or death.  Newsom has been under pressure from the tech industry to veto the bill and it's not clear what he plans to do.  

>>Poll: American Dream Out Of Reach

(Washington, DC)  --  The American Dream feels out of reach for most of us.  According to the Wall Street Journal/NORC poll conducted this summer, only ten-percent of Americans say it's easy to buy a home.  But 89-percent still see homeownership as essential or important to their future. Only about nine-percent think financial security and a comfortable retirement is attainable. 

>>Most Americans Believe Inflation Is Negating Their Hard Work

(New York, NY)  -- A new Labor Day survey reveals seventy-four-percent of people think that inflation is erasing their hard work. According to Wallet Hub, two-in-three Americans say that inflation is affecting their Labor Day plans.  Sixty-seven percent of people surveyed believe they're working harder this year than last year; while 93-percent of people want a raise to keep up with inflation.  Inflation has eased as money creation has slowed down, which is likely why 67-percent of Americans say they are doing better financially than they were last Labor Day.  But 42-percent of Americans are planning to spend less this Labor Day weekend compared to last year.

>>U Of I Service Workers Could Be Headed For Strike

(Champaign, IL)  --  University of Illinois building and food service workers could be headed for a strike next month.  The union workers voted down the latest contract proposal from the university.  The group voted to go on strike on July 24th and barring new contract proposals, the work stoppage could begin as soon as September 15th. 

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after stocks closed lower Wednesday.  At the closing bell, the Dow Jones Industrial Average fell by 159 points to 41-091.  The S&P 500 dropped by 33 points to 55-92.  The Nasdaq lost 198 points to 17-556.  Investors today will be keeping an eye out for data pertaining to the 2nd revision of the Gross Domestic Product.  Pending home sales numbers are also due along with weekly jobless claims.   

>>Nvidia Beats Expectations

(New York, NY)  --  Nvidia's latest earning's report beat Wall street expectations.  The chip making tech giant reported 30-billion-dollars in revenue in the second quarter, while analysts were expecting 28-point-seven-billion.  During the same period last year, Nvidia saw 13-point- five-billion-dollars in revenue. 

>>United Flight Attendants Authorize Strike

(Undated)  --  United Airlines flight attendants are approving a strike across the country.  The flight attendants have voted to approve strike authorization if they don't reach an agreement with the airline.  For now, off-duty flight attendants are marching on informational picket-lines.  The flight attendants want raises, job security, and retirement benefits.  In a statement, United says it will continue to work toward an agreement, and says a strike is not imminent, as it's a lengthy process.  This is the first time in 20 years that flight attendants at United have approved strike authorization.

>>SpaceX Rockets Grounded Amid Booster Crash Probe

(Washington, DC)  --  SpaceX Falcon 9 rockets are being grounded after a first-stage booster crashed onto a landing barge.  An FAA investigation is underway to determine what caused the crash following a Starlink launch early Wednesday.  SpaceX had two Starlink launches planned for Wednesday, one in Florida and one in California.  The California launch was called off after the booster rocket in the Florida launch crash-landed on a droneship and fell into the Atlantic Ocean.  All SpaceX Falcon 9 rockets are being grounded during the investigation, including the booster for the upcoming Polaris Dawn mission.

>>Google Fixes AI Chatbot After It Failed To Depict White People

(Mountain View, CA)  --  Google says it fixed its A.I. chatbot Gemini after it was unable to generate images of white people.  When the controversy erupted in February, critics, including Elon Musk accused Google's A.I. of being racist.  In response, the tech giant shut down Gemini's ability to depict any human. Now, Google is turning the feature back on for users who pay to use the English-language version of Gemini. 

>>Number Of 401(K) Millionaires Hits All-Time High

(New York, NY)  --  The number of 401(k) millionaires is at an all-time high.  According to data from Fidelity, nearly 500-thousand 401(k) accounts had balances of at least a million dollars as of the end of June. That's up two-and-a-half percent from the previous quarter. Fidelity based its data on 24-million accounts across its 26-thousand employer-sponsored plans.

>>Telegram CEO Charged With Numerous Crimes In France

(Paris)  --  The founder and CEO of Telegram is facing multiple charges in France.  Pavel Durov was detained by French authorities over the weekend in connection to alleged criminal activity on the popular communications app.  Authorities announced on Wednesday that he'd been formally charged.  Allegations include his messaging-app being complicit in helping drug traffickers, fraudsters and those spreading child pornography.  The case has become a focal point for free-speech advocates versus potentially dangerous content.  Durov could face up to a decade in prison if convicted.

>>Apple Announces Rare Layoffs

(Cupertino, CA)  --  Apple is laying off about 100 employees in a rare cutback.  The Verge reports the tech giant has started to notify workers in its "Books and News" sectors of the cuts.  The layoffs are primarily in its services division, which also includes Apple TV and Apple Music. 

>>Shake Shack Announces Closures 

(New York, NY)  --  It's not the news fans of Shake Shack wanted to hear.  The fast-casual restaurant chain announced this week that it will be closing at least nine underperforming locations.  In a filing with the Securities and Exchange Commission, Shake Shack said the locations slated for closure "are not projected to provide acceptable returns in the foreseeable future."  Doors will be closing at restaurants in Texas, Ohio and California.  
 

>>Ahead Of The Bell

(New York, NY) -- The opening bell rings this morning on Wall Street after stocks closed slightly higher on Tuesday. Nvidia shares advanced nearly one-and-half percent to help lift markets ahead of its highly-anticipated earnings report coming up today. At the closing bell, the Dow Jones Industrial Average gained nearly 10 points to end at 41-250. The S&P 500 added almost 9 points to close at 56-25. The Nasdaq rose 29 points to 17-754.

>>Zuckerberg: Biden-Harris Admin "Pressured" Facebook To Censor Americans

(Washington, DC) -- Billionaire Meta CEO Mark Zuckerberg, in a letter this week to the House Judiciary Committee, admits the Biden administration pressured Facebook to censor Americans. He said the administration leaned on the social media company to censor COVID-19 content, and also acknowledged that it was wrong to block the coverage of Hunter Biden's infamous laptop. In the letter to House Judiciary Committee Chairman Representative Jim Jordan, Zuckerberg wrote that "senior Biden administration officials, including the White House, repeatedly pressured" Meta to censor content related to the coronavirus pandemic in 2021. And he said he regrets complying with certain demands. Zuckerberg assured Jordan that Meta has put policies in place to ensure that similar censorship of stories doesn't happen again.

>>North Korean Remote Work Applicants Flood Online Job Applications

(New York, NY) -- Companies are being flooded with job applicants from North Korea. Tech startup Cinder says it suspects as many as four-in-five applicants from some job websites are part of a remote work scheme aimed to help fund the North Korean state, according to Forbes. A cybersecurity expert told the news outlet it saw one email account automated to apply to 300 different jobs, usually in IT. Once hired, they use AI to "do the work for them" and can make as much as 300-thousand-dollars a year.

>>Eli Lilly Offering Weight Loss Drug At Half Price

(Indianapolis, IN) -- Pharmaceutical company Eli Lilly is rolling out a new version of its weight loss drug at about half of its monthly price. Zepbound is administered by injection and is being offered for 399-to-599-dollars per month. The drug, as well as other comparable weight-loss drugs, typically run a thousand-dollars a month. Eli Lilly officials say they want to make the drug accessible to those without insurance or Medicare.

>>SAG-AFTRA Video Game Actors to Strike Outside Warner Bros Studio

(Burbank, CA) -- Video game voice actors plan to strike outside Warner Brothers Studio today. The SAG-AFTRA members want a new contract that protects against losing work to artificial intelligence. The strike against video game producers has been going on since July 26th.

>>Poll: It Takes $200K To Be Happy

(New York, NY) -- A new poll shows a majority of Americans believe you need 200-thousand dollars to be happy. The financial advice website Cardrates.com recently surveyed over 780 employed Americans between the ages of 18 and 43 to get their feelings on money and happiness. It found about 56 percent of those surveyed said they would be content with a liquid net worth of over 200-thousand dollars. That's grown since 2010, when a Gallup survey found working Americans valued happiness at 75-thousand dollars.

>>Minnesota Nurses Best Paid In U.S. When Cost Of Living Considered

(St. Paul, MN) -- A recent study shows it's a good time to be a nurse in Minnesota. The analysis of government data by the healthcare employment website HealthJob shows Minnesota registered nurses have an average salary of nearly 95-thousand-dollars a year. The amount ranks 12th in the national rankings before the cost of living in each state is factored in. Now factor in the cost of living and they're at the top of the list, while states with higher annual pay like California and Hawaii dropped to lower on the list.

>>Barnes And Noble Founder Leonard Riggio Dies At 83

(New York, NY) -- The founder of Barnes and Noble Booksellers is dead after battling Alzheimer's. Leonard Riggio was 83. A statement from his family calls him "a true son of New York," born in Manhattan's Little Italy. Riggio also founded Barnes and Noble College Booksellers, wholesale distributor MBS Textbook Exchange, and GameStop.

>>Ahead Of The Bell   

(New York, NY)  --  The opening bell rings this morning after stocks closed mostly lower on Monday.  On the brighter side, the Dow managed to hit a record high to start the week.  Tech shares slid with Nvidia down two percent ahead of its earnings report on Wednesday.  At the closing bell, the Dow Jones Industrial Average gained 65 points to 41-240.  The S&P 500 lost 17 points to 56-16.  The Nasdaq fell 152 points to 17-725.

>>Apple Expected To Launch iPhone 16 At September Event

(Cupertino, CA)  --  Apple is expected to launch its iPhone 16 at its event on September 9th. Tagged "It's Glowtime," the event will take place at the Steve Jobs Theater in Apple Park and be streamed online. It's not yet clear what "glowtime" refers to, but reports indicate embedded artificial intelligence is expected to be a key feature of the phone. The company previously announced several generative AI features for the iPhone at its annual Worldwide Developers Conference.

>>Polaris Dawn Liftoff Postponed

(Cape Canaveral, FL)  --  A historic SpaceX mission is on hold.  The company announced yesterday it's postponing the launch of the Polaris Dawn mission.  It was set to blast off this morning from the Kennedy Space Center, but SpaceX says a ground-side helium leak was found.  The launch is now set for tomorrow morning.  If everything goes as planned, the Polaris Dawn crew will take part in the first-ever private space walk.  

>>Red Lobster Closes 23 Locations Amid Bankruptcy Proceedings

(Orlando, FL)  --  Red Lobster will be closing an additional 23 restaurants nationwide at the end of the month. The move comes after the Orlando-based company closed over 100 locations earlier this year as it goes through bankruptcy proceedings. The restaurant chain is in the process of selling itself to Fortress Credit Corporation, which recently gave the national restaurant chain 100-million-dollars to continue operating the roughly 500 restaurants it has remaining across the U.S.  Red Lobster is just one of many companies currently struggling as inflation continues to rise and consumers cut back on expenses like dining out. 

>>Kroger Goes To Court Over FTC's Bid To Block Albertsons Merger

(Portland, OR)  --  Albertson's planned merger with Kroger's made its way to court on Monday.  The 25-billion-dollar merger is being challenged by the Federal Trade Commission, which says it would lead to less competition and higher prices for consumers.  The trial is taking place in federal court in Portland, Oregon and is expected to last about three weeks.  The two companies combined would impact nearly 600 stores nationwide. 

>>Bills With Solid Serial Numbers Worth More Than Thought

(San Diego, CA)  --  That five dollars in your pocket may be worth a lot more than five bucks. According to GoBankingRates, five-dollar bills with solid serial numbers, meaning all the numbers are identical, can be worth thousands. The Penny Hoarder says five-dollar notes with solid serial numbers are rare, only about one in eleven million are in circulation, which makes them worth as much as two thousand dollars each. Experts say if you find a five dollar bill with solid serial numbers, take it to a coin shop and have it appraised.

>>Trading Week Winding Down

(New York, NY) -- The opening bell rings this morning after stocks closed sharply higher yesterday. That came on the heels of encouraging news for investors from labor and consumer reports this week that have helped cool recession concerns. At the closing bell, the Dow Jones Industrial Average gained 554 points to 40-563. The S&P 500 rose by 88 points to 55-43. The Nasdaq gained 401 points to 17-594.

>>Vice President Harris To Outline Economic Policy

(Raleigh, NC) -- Vice President Kamala Harris plans to unveil her economic policy in a speech in Raleigh, North Carolina later today. It will be her first policy-centered speech since she entered the race for the White House following President Biden's decision to drop out. The Harris campaign said the vice president will outline a plan "to lower costs for middle-class families and take on corporate price-gouging."

>>Billions Of Social Security Numbers Compromised

(Washington, DC) -- All Americans' Social Security information could be compromised. Reports say hackers stole data from National Public Data and tried to sell it, but then posted it online for free. The group claims to have nearly three-billion records of personal data from North America and the UK. Experts say the best course of action is to freeze your credit files to prevent other from signing up for credit cards or other accounts in your name

>>Trump Attacks Harris On Economic Policies

(Bedminster, NJ) -- Donald Trump says the Biden administration's economic policies have "totally failed." During a news conference yesterday from Bedminster, New Jersey, Trump said "the worst is yet to come" if Kamala Harris is elected president in November. He argued that Americans are spending significantly more under the Biden-Harris administration and accused the vice president of breaking the economy and the southern border.

>>New Zealand To Extradite Kim Dotcom To The U.S.

(Wellington, NZ) -- Internet mogul Kim Dotcom is set to be extradited to the U.S. to face copyright infringement charges. Dotcom is currently residing in New Zealand, but is facing charges in the U.S. related to his file-sharing website Megaupload [[ mega upload ]]. He and three co-defendants have been indicted by a U.S. grand jury on charges including wire fraud, money laundering, conspiracy to commit racketeering and conspiracy to infringe copyright on a commercial scale. On Thursday, New Zealand's Justice Minister signed an extradition order and said Dotcom should be surrendered to the U.S. to face trial.

>>"It Ends With Us" Is A Box Office Hit

(Los Angeles, CA) -- "It Ends With Us" is a box office hit. The Blake Lively drama has so far made over 100-million dollars worldwide. The R-rated movie stars Lively as a woman who grew up with abusive parents and who winds up in an abusive relationship herself. The film cost about 25-million dollars to make, and by Wednesday had collected over 115-million dollars at the global box office. The CEO of Sony Pictures Entertainment is happy with the result, and said Thursday, "We love working with Blake, and we want to do 12 more movies with her."

>>Pumpkin Spice Market On Pace For Multi-Billion Dollar Season

(New York, NY) -- Pumpkin Spice's early arrival ushers in the unofficial start of the fall season. It starts earlier every year as a Halloween push known as Summerween ushers in pumpkin spice season for many retailers. According to Yahoo Finance, the global Pumpkin Spice Market, valued at one-point-one-billion-dollars in 2023, is on pace to soar to two-point-four-billion by 2031. The pumpkin spice craze was born 21 years ago, when Starbucks debuted its Pumpkin Spice Latte. The dates of the season change every year but products have been available for several weeks at grocery stores.

>>Interest Rate Cut Might be Coming

(Washington, DC) -- Investors are predicting a rate-cut from the Federal Reserve after the latest inflation report. This, after Wednesday's consumer price index showed prices rose two-point-nine-percent in the past 12 months through July. That's below economists' expectations for three-percent. It's also the first time that inflation has fallen below three-percent since 2021. The central bank has so far held off of any rate cuts until it can see proof of better inflation reports coming in.

>>Trump Unveils Plans For U.S. Economy

(Asheville, NC) -- Donald Trump is laying out his plans for the economy if he's elected to the White House in November. During a rally yesterday in Asheville, North Carolina, Trump said he'll sign an executive order directing his cabinet to take action to bring down inflation and consumer prices in the first 100 days of his presidency. He added he'll commit to slashing energy prices in half within 18 months. The former president spent much of his speech focusing on his political rival, Kamala Harris, accusing her of decimating the middle class with "radical liberal policies." Trump's appearance comes as Harris is set to unveil her economic policies in North Carolina on Friday.

>>Mark Cuban Slams Silicon Valley Support Of Trump

(New York, NY) -- TV personality Mark Cuban is trending after he criticized tech industry leaders for supporting Donald Trump. The billionaire appeared on "The Daily Show" with Jon Stewart this week, and accused Silicon Valley of wanting as much control as possible. Cuban said they want Trump to be the CEO of the U.S. and they want to be the board of directors that makes him listen to them. When Stewart asked him why, Cuban said it's because they're so rich that they've "lost ?the connection to the real world."

>>FTC Bans A-I Generated Reviews

(Washington, DC) -- A new rule from the FTC will ban marketers from using fake reviews generated by A-I. The trade commission said Wednesday that the rule that takes effect in October will also forbid marketers from using bots to inflate their number of online followers. All five commissioners voted to adopt the rule. FTC Chair Lina Khan said in a statement that "Fake reviews not only waste people's time and money, but also pollute the marketplace and divert business away from honest competitors."

>>Payments Coming For Hey Dude Shoe Customers

(Washington, DC) -- The Federal Trade Commission is sending payments to more than 30-thousand people who bought a pair of Hey Dude shoes online. It's part of a one-point-nine-million-dollar settlement after the company didn't notify customers about shipping delays and provided no cancelations or refunds. The payments will be sent via PayPal.

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after stocks closed sharply higher on Tuesday.  At the closing bell, the Dow Jones Industrial Average gained 408 points to 39-765.  The S&P 500 added 90 points to 54-34.  The Nasdaq climbed 407 points to 17-187.  

>>Investors Await CPI

(Washington, DC)  --  Investors are anxiously waiting for a second inflation indicator, after the first came in a little better than expected on Tuesday.  The Producer Price Index looks at inflation from the perspective of manufacturers and suppliers of goods and services.  It rose less than expected in July, and now the hope is the Consumer Price Index will follow suit today.  The CPI measures the actual prices consumers pay.  Even with inflation rising year-over-year, its rate of growth has cooled, giving some hope that it will eventually start to drop. 

>>Ford Issues Do-Not-Drive Advisory For Airbag Replacement

(Detroit, MI)  --  Ford is calling on drivers of certain models, including the Mustang, to stop driving the vehicles and get the Takata airbags replaced.  The company has issued a do-not-drive advisory for over 765-thousand cars and trucks, almost half of which are in the U.S.  Other models include the Ranger, Fusion, Edge and Lincoln MKZ.  The advisory applies to customers who have not completed the recalls for driver airbag inflators on these vehicles dating back to 2004.

>>FDA Upgrades Health Hazard In Candy Recall

(Washington, DC)  --  Dozens of snacks and candies are being recalled because of a salmonella risk.  The FDA says it's upgrading its recall of about two dozen snacks made by the Palmer Candy Company because the white candy coatings on the snacks may have been contaminated.  The snacks were sold nationwide at retailers like Target, Walmart and Dollar General and have a best-buy date of April 2025.  The FDA says the recall has been upgraded to its highest level of health hazard because there is a reasonable probability that the use of or exposure to the product will cause "serious adverse health consequences or death."

>>UAW Files Labor Charges Against Trump, Musk 

(Washington, DC)  --  The United Auto Workers union is filing federal labor charges against former President Trump and billionaire Elon Musk.  The move comes after Trump and Musk held a two-hour conversation on X Monday night.  During the interview, Trump praised Musk, who owns the electric car company Tesla, for firing workers who threatened to go on strike.  The UAW noted that under federal law, workers cannot be fired for going on strike and threatening to do so is illegal.  The union recently endorsed Kamala Harris for president. 

>>Amazon Offering In-App Shopping Experience To More Social Media Platforms

(New York, NY)  --  Amazon is teaming up with TikTok and Pinterest to make it easier for users to shop directly from the social media apps.  TikTok or Pinterest Users will now be able to link their social media accounts to their Amazon account.  Once synced, they can buy items directly from Amazon while still being within either of the social media apps.  Users can unlink their Amazon account inside of TikTok's   app settings should they want to opt out of the tech tie-up shopping.  The move aims to capitalize on the growing trend of in-app shopping.  Similar partnerships are already in place with Meta and Snap.

>>Paramount Global Announces Layoffs

(Los Angeles, CA)  --  Paramount Global is laying off 15-percent of its employees.  Executives shared the news in a memo to investors. The company says Paramount is at an inflection point where changes must be made to strengthen our business. This comes weeks after top executives at Paramount committed to cut 500-million-dollars from the company's budget. Paramount has agreed to merge with Hollywood heavyweight Skydance.

>>Starbucks CEO Out After One Year

(Seattle, WA)  --  Starbucks is getting a new CEO.  Laxman Narasimhan is resigning immediately.  In 2023, he took over for Howard Schultz, the longtime Starbucks leader who was working as the company's interim CEO.  Starbucks has experienced weak sales and increasing competition.  The company's revenue dropped two percent during the first quarter of the year.  The new CEO is Brian Niccol, currently the CEO of Chipotle, where he's credited with driving strong growth.

>>Chuck E. Cheese Announces Monthly Membership Plans

(Irving, TX)  --  Chuck E. Cheese is launching membership plans.  The family entertainment chain will offer unlimited visits for a monthly fee beginning at eight-dollars for the Bronze tier to 30-dollars a month for the gold tier.  The passes include a number of games per visit and discounts on food and drinks depending on the membership tier.  They can be used at the over 470 participating locations in the U.S.

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after stocks closed mixed to start the week on Wall Street.  Markets struggled for direction Monday ahead of key inflation data on Wednesday.  At the closing bell, the Dow Jones Industrial Average lost 140 points to 39-357.  The S&P 500 rose a fraction of a point to 53-44.  The Nasdaq gained 35 points to 16-780.  

>>NY Fed Survey: Inflation Outlook Hits Record Low

(New York, NY)  --  The three-year consumer inflation outlook hit a record low in July.  A survey by the New York Federal Reserve shows inflation expectations fell to just two-point-three percent last month.  That's the lowest since the data collection began in 2013.  Meanwhile, household spending is expected to increase by less than five percent which is a slight drop from June.  The results come just ahead of Labor Department's release of the July consumer price index on Wednesday.

>>CrowdStrike Receives "Most Epic Fail" Award

(Las Vegas, NV)  --  The annual hacking conference called DEF CON is recognizing a cyber security firm, but not in the most flattering way.  The event closed over the weekend with the Pwnie [[ Ponie ]] Awards, and CrowdStrike picked up the trophy for "Most Epic Fail."  Company president Michael Sentonas was on hand to accept and said it's not an award to brag about. However, he mentioned that he'll display the trophy at headquarters for every worker to see, noting it's vital "to own it when you do things horribly wrong."  Last month, CrowdStrike released a software update that caused a global tech outage affecting places like banks, airports and hospitals. 

>>Ad Slots For 2025 Super Bowl Already Nearly Sold Out

(New Orleans, LA)  --  Ad slots for the 2025 Super Bowl are almost sold out.  Variety reports Fox is leveraging the high demand to price 30-second commercials at more than seven-million-dollars and asking buyers to commit to an advertising package that includes other Fox properties. The game will broadcast from Caesars Superdome in New Orleans on February 9th.

>>White House Helping Consumers End Subscriptions

(Washington, DC)  --  The White House wants to make it easier for consumers to cancel subscriptions and services they signed up for.  The Federal Trade Commission could finalize a proposal called "Click To Cancel" any day now.  President Biden's domestic policy advisor acknowledged that companies make it easy to sign up for a subscription or service, but consumers have to jump through many hoops to cancel before getting hit with additional charges.  The reason is so companies "can hold onto your money" longer.  The FTC proposal hopes to make ending a subscription as easy for consumers as beginning a subscription.

>>El Paso, Texas Says Trump Has Unpaid Invoice

(El Paso, TX)  --  The Trump campaign owes the City of El Paso, Texas more than 500-thousand-dollars.  That's according to a new report by KTSM.  Officials said the invoice was for security costs related to a 2019 visit for the Republican presidential nominee.  The city says the total includes initial costs, plus a one-time late fee.  

>>Stocks Close Higher To End Week

(New York, NY)  --  Wall Street awaits the opening bell after stocks closed higher last week..  This comes as the most volatile week for the market of the year comes to an end.  Last Monday, the Dow Jones Industrial Average fell by more than one-thousand points and the S&P 500 had its worst day since 2022.  At the closing bell, the Dow gained 51 points to 39-497.  The S&P 500 rose by 24 points to 53-44.  The Nasdaq gained 85 points to 16-745.  

>>Donald Trump Polling Ahead Of Kamala Harris On The Economy

(New York, NY)  --  A new CNBC poll finds Donald Trump with a commanding lead over Kamala Harris on key economy issues. Trump leads Harris 48-to-46-percent overall in the CNBC All-America Economic Survey.  But on the economy, Trump leads Harris by two-to-one. Seventy-nine-percent of Republicans who believe their economic fortunes will improve with Trump in the White House. Forty-eight-percent of Democrats believe they'll be better off if Harris wins, compared with 42-percent who say it makes no difference.  Inflation and the cost of living continues to be a top issue of concern for voters.  Trump has a 12-point lead on the second-most important issue, the country's economy overall. 

>>Harris Pledges To End Federal Taxes On Tips 

(Undated) -- Vice President Kamala Harris says she will end federal income taxes on tips if she were elected president, reflecting a policy proposal made by former President Trump earlier this year.  Harris announced the proposal Saturday at a rally in Las Vegas.  Harris said, "When I am president, we will continue our fight for working families of America, including to raise the minimum wage and eliminate taxes on tips for service and hospitality workers."  Former President Trump presented his "no tax on tips" pitch in June and immediately responded to Harris's proposal Saturday night by posting on Truth Social that she had "copied his idea, and that Harris had none of her own.

 >>Disney Unveils New Attractions

(Anaheim, CA)  --  Walt Disney unveiled multiple new attractions for its theme parks at the D23 fan event on Saturday.  The company said it will build a new 'Avatar' experience at its Disney California Adventure theme park, based on the second film in the franchise, "Avatar:The  Way of Water."  An area at Disney's Hollywood Studios will soon feature the roller coaster from "Monsters, Inc.", and an area of Frontierland will include a thrill ride based on the Pixar "Cars" franchise.  The company also announced two attractions for the new Tropical Americas expansion set to open in 2027 at  Disney's Animal Kingdom park in Orlando.  One follows Indiana Jones' exploration of a Mayan temple, and the other is inspired by the Disney animated film "Encanto." Walt Disney Experiences Chairman Josh D'Amaro assured the fans at D23 that all these plans were in "active development."

>>"Deadpool," "It Ends With Us" Win Box Office

(Los Angeles, CA)  --  Husband and wife Ryan Reynolds and Blake Lively are dominating the box office.  Reynolds' "Deadpool & Wolverine" took the top spot at the box office for the third-straight week.  The Marvel Studios film took in 54-million dollars to help bring it's global total to just over a billion dollars.  Meanwhile. Lively's "It Ends With Us" blew past expectations with 50-million dollars in its debut weekend to take second place.  The last time a husband and wife duo took the top two spots at the box office was in 1990 when Bruce Willis' "Die Hard 2" finished in first place and Demi Moore's "Ghost" debuted in second place.
 

>>Trading Week Winding Down

(New York, NY)  --  The opening bell rings this morning as a whirlwind trading week starts to wind down.  Stocks closed sharply higher on Thursday after new labor market numbers gave investors a boost in confidence towards the economy.  The latest weekly unemployment claims came in at 233-thousand, against projections of 240-thousand.  At the closing bell, the Dow Jones Industrial Average gained 683 points to 39-446.  The S&P 500 rose by 119 points to 53-19.  The Nasdaq gained 464 points to 16-660.

>>Mortgage Rates Fall To Lowest Level In More Than A Year

(Washington, DC)  --  Mortgage rates are down.  The 30-year-fixed-rate mortgage averaged less than six-point-five percent this week, according to Freddie Mac. That's down since last week's six-point-seven-three percent. It's also the lowest since May 2023.  The news comes as home prices remain sky-high nationwide.

>>Costco Cracks Down On Membership Card Sharing

(Issaquah, WA)  --  Costco is cracking down on membership sharing. Now, the wholesale retailer is introducing membership scanning devices to be used at the entrance door. Members will need to scan their card so employees can match the photo up with you. For those who have cards without photos, Costco says to come with a valid photo ID but encourages them to get their photo taken at the membership counter.

>>Crypto Exchange FTX And Sister Company Ordered To Pay Up

(New York, NY)  --  Cryptocurrency exchange FTX and its sister company Alameda Research are being ordered to pay 12-point-seven-billion-dollars to their customers and fraud victims. The Commodity Futures Trading Commission said FTX will pay that amount to compensate victims of Sam Bankman-Fried's [[ Freed's ]] "massive fraudulent scheme."  Bankman-Fried was convicted last year on federal fraud and conspiracy charges and sentenced to 25-years in prison in March.

>>BMW Recalls More Than 100-Thousand Vehicles

(Woodcliff Lake, NJ)  --  BMW is recalling more than 100-thousand vehicles over an overheating concern. According to the National Highway Traffic Safety Administration, excessive attempts at starting the car if it's having issues due to engine damage could get it to overheat. And if nearby materials get contaminated with oil, that could be especially dangerous. The full list of BMW models recalled is available on the NHTSA website.

>>Video Game Actors Remain On Strike

(Hollywood, CA)  --  Hollywood's video game actors remain on strike.  They say SAG-AFTRA, which represents some 160-thousand performers, is seeking the same protections against artificial intelligence that are given to on-camera celebrities.  The union says studios are not cooperating on that issue.  Today marks the second full week of striking.

>>Ahead Of The Bell

(New York, NY) -- The opening bell rings this morning after stocks closed lower on Wall Street Wednesday. The session started off with the major averages trading higher but they eventually fell into the red as the market attempted to regain losses from the selloff on Monday. At the closing bell, the Dow Jones Industrial Average fell by 234 points to 38-763. The S&P 500 lost 40 points to 51-99. The Nasdaq dropped by 171 points to 16-195. Investors today will be keeping an eye out for word on wholesale inventories as well as earnings reports from the likes of Frontier Group Holdings, Paramount Global and Eli Lily. Weekly jobless claims are also due with most analysts predicting a slight drop in initial requests from the previous week, coming in at right around 240-thousand.

>>JPMorgan CEO Dimon Says Recession Is Still "Likely"

(New York, NY) -- The head of JPMorgan Chase says there still might be a recession. CEO Jamie Dimon spoke to CNBC on Wednesday and said he still believes the odds of a "soft landing" for the U.S. economy are around 35 to 40-percent, making a recession a "likely scenario." Dimon said the U.S. is not in a recession right now, but he's "a little bit of a skeptic" that the Federal Reserve can bring inflation down to its two-percent target. He added, though, that he remains optimistic that if the U.S. does experience a recession - in his words - "we would be okay."

>>Delta Facing Lawsuit After Tech Outage

(Atlanta, GA) -- Delta is facing massive repercussions from the tech outage that affected thousands of passengers last month. A lawsuit filed this week against the airline accused the company of failing to provide passengers with vouchers for meals, hotels and transportation. Delta's CEO says the CrowdStrike outage caused the airline to lose half-a-billion-dollars. A letter from CrowdStrike's legal counsel to Delta rejected those claims and said it was "highly disappointed by Delta's suggestion that CrowdStrike acted inappropriately." The letter added that CrowdStrike's CEO offered personal online assistance to Delta's CEO but didn't receive a response.

>>Tourism Still Significantly Down On Maui 1 Year After Wildfires

(Maui, HI) -- A year after the deadly Lahaina wildfire that claimed over 100 lives, Maui's tourism numbers are still significantly low. The most recent data from the Hawaii Tourism Authority shows visitor arrivals down 22 percent this summer compared to 2023. And, visitor spending was down 27 percent from a year prior. After the wildfires, officials told visitors to stay away from West Maui, but many opted to stay away from the entire island, which has had a major economic impact. The HTA is now preparing to launch a campaign targeting travelers from Southern California, which is historically Maui's most important visitor market.

>>Study Shows The Cities Adding The Most Debt

(Boston, MA) -- Americans have a massive amount of household debt and continue to rack it up at a breakneck pace. Total household debt has now reach over 17-trillion-dollars. The debt is mostly being driven by soaring costs for food, housing, and auto loans. WalletHub reports Boston, North Las Vegas and Madison, Wisconsin are the cities where Americans are adding the most debt.

>>Roku Launching 24/7 Sports Channel

(San Jose, CA) -- Roku is coming off the bench. On Wednesday, the company revealed that it's launching a 24/7 sports channel. The ad-supported station will be free and feature live Major League Baseball games. It will also include original programing featuring the NFL, NBA and WNBA among other sports. Roku's sports division head, Joe Franzetta, called it a "curated always- on channel," noting that sports is one of the most watched genres for the company. Viewers can start tuning into the channel on Monday.

>>McDonald's Announces "Collector's Meal"

(Chicago, IL) -- McDonald's will give customers the chance to walk down memory lane with its latest special meal offering. The "Collector's Meal" goes on sale August 13th and will feature six collectible cups that are reminiscent of the glasses the fast food chain sold in the 1980s and 90s. The cup designs will spotlight classic McDonald's giveaways such as Barbie, Hot Wheels, Beanie Babies, Jurassic Park and Shrek. The breakfast version of the meal will come with a Sausage McMuffin with Egg sandwich, hash brown and hot coffee. Meanwhile, during lunch the meal will come with either a ten-piece Chicken McNuggets or a Big Mac sandwich along with fries and a soft drink.

>>Ahead Of The Bell 

(Washington, DC)  --  The opening bell rings this morning on Wall Street stocks staged a rally on the heels of Monday's massive selloff sparked by fears that a recession is coming for the U.S. economy.  At the closing bell, the Dow Jones Industrial Average gained 294 points to 38-997.  The S&P 500 rose by 53 points to 52-40.  The Nasdaq gained 166 points to 16-366.

>>AGs Calling For Nationwide Ban On TikTok

(Washington, DC)  --  Over 20 state attorneys general are calling for a national TikTok ban.  The coalition says the China-based social media app poses a threat to national security.  They've filed a request with the U.S. Court of Appeals to uphold a law that would force the parent company of TikTok to sell the app if it cannot find an American buyer within a year.

>>Elon Musk To Interview Donald Trump

(Undated)  --  Former President Trump says he plans to take part in an interview with Elon Musk.  On his Truth Social platform, Trump said the interview will take place this coming Monday night.  He added that more details will be announced later.  The billionaire owner of X endorsed Trump following last month's assassination attempt.

>>Driver Trapped In High Tech Truck Dies

(Baytown, TX)  --  The first deadly crash involving a Tesla Cybertruck is being reported.  The wreck was Monday in suburban Houston, on a highway east of the city.  Texas State Troopers say the driver sailed off the road and smashed into a concrete culvert.  The Cybertruck burst into flames, trapping the driver.  The NTSB has reached out to Tesla to get more information about the vehicle as they investigate the cause of the crash. 

>>Airbnb Profits Down

(San Francisco, CA)  --  Airbnb is reporting lower profits in the second quarter, sending shares down 15 percent after the closing bell.  The numbers suggest folks have been holding back spending on travel and accommodations overs worries about the economy.  The company on Tuesday reported quarterly profit of 555-million-dollars, down nearly a hundred million over last year.

>>Disney Hikes Prices For Streaming Platforms

(Burbank, CA)  --  Disney is hiking prices on its streaming platforms, including Hulu and ESPN+. Beginning October, the services will cost one to two dollars more a month.  Disney+ basic will cost nine-99 and premium will cost 15-99 per month. Hulu with ads will be on par with Disney-Plus basic, and Hulu without ads will run 18-99.  ESPN+, which has ads, will cost 11-99.

>>Investors Hoping For Better Day After Monday's Crushing Losses

(New York, NY)  --  The opening bell rings this morning after a disaster of a day on Wall Street Monday.  A global market selloff caused the Dow Jones Industrial Average to have its worst day in almost two years due to fears that the U.S. economy is heading into a recession.  Investors are also worried that the Federal Reserve may be too late in cutting interest rates to help support an economic slowdown.  At the closing bell, the Dow Jones Industrial Average lost a whopping one-thousand-and-33-points to end at 38-703.  The S&P 500 shed 160 points to 51-86.  The Nasdaq plummeted 576 points to 16-200.

>>Federal Judge Rules Google Violated Antitrust Laws

(Washington, DC)  --  A federal judge is ruling Google violated U.S. antitrust law.  In a landmark decision issued Monday, the judge says the tech giant acted illegally to maintain an online search monopoly.  The Department of Justice and a group of several states sued Google in 2020.  They accused Google of paying companies such as Samsung and Apple billions of dollars each year to have their smartphones and web browsers automatically use their search engine.  The ruling could lead to penalties such as forcing Google to change the way it operates or even sell parts of its business.

>>CrowdStrike Responds To Delta CEO Blaming Service Issues

(New York, NY)  --  CrowdStrike is firing back at Delta Airlines after its CEO blamed the cybersecurity firm for its service meltdown that he said cost the airline company 500-million dollars.  A letter from CrowdStrike's legal counsel to Delta rejected those claims and said it was "highly disappointed by Delta's suggestion that CrowdStrike acted inappropriately."  The letter added that CrowdStrike's CEO offered personal online assistance to Delta's CEO but didn't receive a response. 

>>Video Game Actors Remain On Strike

(Hollywood, CA)  --  Hollywood's video game actors remain on strike.  They say SAG-AFTRA is seeking the same protections against artificial intelligence that are given to on-camera celebrities.  The union says studios are not cooperating on that issue.  This Friday will mark the second full week of striking.

>>X Office In SF To Close

(San Francisco, CA)  --  X will be closing its San Francisco office.  According to the New York Times, the company announced internally on Monday the office will close, with workers relocated somewhere else in the Bay Area.  Owner Elon Musk has promised in the past to move the headquarters to Texas in response, he claimed, to a California law banning teachers from forcibly outing the gender identity of students. 

>>Lawsuits Allege High Levels Of Lead In General Mills Cocoa Puffs Cereal

(Undated)  --  Two federal lawsuits are seeking millions from General Mills.  Plaintiffs say Cocoa Puffs cereal could contain high levels of lead.  The suits filed recently in Minnesota and California are calling for more than five million dollars in damages for consumers nationwide.  One suit claims a one-cup serving of Cocoa Puffs contained just a little less than the state's maximum allowable limit of point five micrograms of lead.

>>Tax Court Judge Rules Coca-Cola Owes Billions To IRS

(Atlanta, GA)  --  Coca-Cola could end up paying billions-of-dollars back to the government for back taxes.  The soft drink giant says that the IRS misapplied applicable regulations dating back over a decade.  Punishments from the government have climbed to around six-billion-dollars, with interest included.  The company has roughly three-months to appeal, which it announced on Friday that it planned to do.

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning to kick off a fresh trading week after stocks closed sharply lower Friday.  The major averages traded lower out of the gate after a much weaker than expected jobs report for last month fueled worries that a recession may be possible in the near future.  It comes after the Federal Reserve left interest rates unchanged earlier this week and suggested a rate cut could happen in September.   At the closing bell, the Dow Jones Industrial Average fell by 610 points to 39-737.  The S&P 500 lost 100 points to 53-46.  The Nasdaq dropped by 417 points to 16-776.

>>This Week In Business News

(Undated)  --  Coming up in the business week ahead, nothing much to speak of until Tuesday with the release of the U.S. trade deficit.  Earnings results out the same day include the likes of Uber, Reddit and Caterpillar.  Data on consumer credit comes out Wednesday with investors keeping a close eye out for earnings from Walt Disney, CVS Health and Team USA outfitter Ralph Lauren.  Weekly jobless claims are due Thursday, along with wholesale inventories and earnings from Frontier Group Holdings, Paramount Global and Eli Lily.  The week wraps up Friday with no notable economic reports on the calendar.  

>>Neuralink Implants Second Patient

(Fremont, CA)  --  Elon Musk says his company Neuralink has put a brain implant in a second patient.  The device aims to allow paralyzed people to use digital devices with their thoughts.  Musk says the implantation was successful and that the company plans to implant eight more patients this year.  

>>Tesla Recalls Over One-Million Vehicles Due To Unlatched Hood Issue  

(Undated)  --  Tesla is recalling over one-point-eight-million vehicles in the U.S. due to issues with the hood.  The National Highway Traffic Safety Administration says the recall stems from issues with the software that detects when a hood is unlatched.  If the Tesla's hood is fully open, it can obstruct the driver's view and cause a crash, according to the agency.  Vehicles that are affected include certain 2021-2024 Model 3, Model S and Model X vehicles, along with Model Y vehicles manufactured since 2020.  This marks Tesla's ninth recall of the year. 

>>Chevron Moving To Houston

(San Ramon, CA)  --  Chevron is the latest company to leave California for Texas.  It's moving its corporate headquarters to Houston from their current location in San Ramon, California. The company says all their corporate functions will migrate to Houston over the next five years. California sued Chevron over what it claimed was a downplaying of climate change.  Texas is known to have a more business-friendly tax environment.

>>Intel Cuts 15-Thousand Jobs

(Santa Clara, CA)  --  Intel is cutting 15-thousand jobs, or about 15-percent of its workforce.  Its CEO Pat Gelslinger made the announcement in a note to employees late last week.  This comes as the company tries to save ten-billion-dollars in 2025 after posting "disappointing" second quarter results.  He called it "an incredibly hard day for Intel as we are making some of the most consequential changes in our company's history."  Gelslinger said the move was necessary as costs are currently too high with margins too low.

For Friday, August 2nd, 2024

>>Stocks Close Lower To Start Month

(New York, NY)  --  Wall Street closed Thursday with stocks sharply lower to start the new month.  This comes as new data like high unemployment numbers caused some fear among investors about the possibility of a recession.  It's also one day after the Federal Reserve left interest rates unchanged once again, but hinted a rate cut is likely to happen next.  At the closing bell, the Dow Jones Industrial Average fell by 494 points to 40-347.  The S&P 500 dropped by 75 points to 54-46.  The Nasdaq dropped by 405 points to 17-194.

>>Senate GOP Block Passage Of Tax Bill

(Washington, DC)  --  Senate Republicans are blocking a tax package that would have expanded the Child Tax Credit and extended some business tax credits.  The bill failed to advance in a procedural vote of 48-44, short of the 60 it needed to pass.  The bipartisan tax bill passed the Republican-led House earlier this year.  But Senate Republicans raised concerns over the cost.  Senate Majority Leader Chuck Schumer accused GOP lawmakers of tanking the bill to avoid handing Democrats a win ahead of the 2024 presidential election.  

>>Intel To Lay Off 15% Of Its Staff

(Santa Clara, CA)  --  Intel is preparing to cut 15-percent of its work force.  On Thursday, the tech company announced it would soon begin mass layoffs as part of a ten-billion-dollar plan to reduce overall costs.  In this year's second quarter, Intel reported a revenue of 12-point-eight-billion-dollars, down one percent from 2023.  

>>Group Of Venture Capitalists Back Harris

(Undated)  --  More than a hundred venture capitalists including Mark Cuban are backing Democratic Vice President Kamala Harris for the White House.  The group on Wednesday posted a petition online praising democracy and said that without trustworthy institutions, their industry and every other industry would collapse.  Former President Trump also has the support of venture capitalists and investors, including Tesla CEO Elon Musk and former PayPal executive David Sacks.

>>Federal Court Blocks Net Neutrality Rules

(Washington, DC)  --  A U.S. appeals court is blocking the Biden administration from reinstating net neutrality rules.  The rules would prohibit internet service providers from slowing speeds or blocking content for certain users, and would also stop providers from blocking certain websites.  During the Trump administration, the FCC argued the rules were unnecessary, but last April they voted to reinstate them.  On Thursday, the Sixth Circuit U.S. Court of Appeals said it was temporarily blocking the rules because broadband providers were likely to succeed in a legal challenge.  Oral arguments on the issue will be scheduled for late October.  

>>Former CNN Host Sues Musk

(San Francisco, CA)  --  Former CNN host Don Lemon is suing Elon Musk for cancelling his show on the billionaire's social media platform X.  The suit, filed Thursday in San Francisco, accuses X of using Lemon's name and reputation to attract advertisers and make a profit.  The first episode was recorded in March with Lemon interviewing Musk.  The next day, according to the suit, Musk canceled the deal, which had promised Lemon a one-point-five-million-dollar payment annually along with a percentage of ad revenue.  

Staff/mwl   Copyright © 2024 TTWN Media Networks Inc.

Distributed: Aug 2nd 12:42 am
 

For Thursday, August 1st, 2024

>>Stocks Close Higher After Fed Announcement 

(New York, NY)  --  Wall Street closed with stocks higher Wednesday.  This comes after the Federal Reserve left interest rates unchanged yet again.  Fed Chair Jerome Powell said if data continues to bring confidence to the central bank, a rate cut could happen.  At the closing bell, the Dow Jones Industrial Average gained 99 points to 40-842.  The S&P 500 rose by 85 points to 55-22.  The Nasdaq gained 451 points to 17-599.

>>Feds Leave Interest Rates Unchanged

(Washington, DC)  --  The Federal Reserve is leaving interest rates unchanged.  Fed Chair Jerome Powell said the Central Bank is aware of the difficulties Americans are facing because of inflation.  Rates have been in the same range for the past year as the Fed tries to lower inflation to its goal of two-percent.  However, many investors believe rate cuts are likely to begin in September.  The central bank's next meeting is set for the 17th and 18th of that month.

>>Boeing Names New CEO

(Arlington, VA)  --  Boeing is naming Kelly Ortberg as its new president and CEO. Ortberg, a former executive with aerospace company Rockwell Collins, will take the helm August 8th. The company is hoping Ortberg can help tum things around after a slew of safety issues have led to losses of trust and revenue. The most recent string of troubles started in January when a door panel blew out on a 737 MAX 9 flight, an accident that eventually led to the resignation of CEO Dave Calhoun.

>> Delta CEO Blames CrowdStrike, Microsoft For Service Meltdown

(New York, NY)  --  Delta Airlines' CEO is lashing out at the cyber security firm CrowdStrike and Microsoft after software issues caused a meltdown across the globe earlier this month. CEO Ed Bastian said the five-day outage beginning July 19th cost the airline 500-million-dollars. He said on CNBC that "they haven't offered us anything."  He blamed CrowdStrike for the issues. Bastian said "You can't come into a mission critical 24-seven operation and tell us we have a bug. It doesn't work."

>>Shoppers Can Anticipate Higher Prices For Fruit And Vegetables In Near Future

(New York, NY)  --  Extreme heat across the country is likely to translate to higher prices in the produce aisle. Higher growing costs due to extreme heat will soon convert to shoppers paying higher prices for fruit and vegetables as farmers pass the burden onto retailers. The good news: Consumers aren't likely to see higher prices for the rest of this summer, as contracts with distributors are generally worked out in advance.  However, the effects of climate change have caused many farmers in the U.S. to shift their operations indoors, where they can control the environment.  But the high costs to make that switch will also contribute to higher prices for consumers in the near future.