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Mark Zuckerberg wrote a letter to the House Judiciary Committee on Monday. He admitted that his company, Meta, was pressured by the Biden-Harris administration to censor content related to Covid-19 pandemic in 2021. He regretted not being more outspoken about this issue. Republicans have long accused social media platforms of censoring them and Zuckerberg's comments are likely to fuel their assertions. The testimony comes amid a heated presidential election campaign. Mark Zuckerberg has provided the committee with documents as part of its investigation into content moderation on online platforms.
Georgia's State Election Board passed new rules this month that could delay the certification of election results. The Democratic National Committee, the Democratic Party of Georgia and several individuals are suing the board to overturn the rules. Donald Trump tried to defy the voters’ verdict after the 2020 election by trying to stay in office even if it meant fomenting violence and blocking the peaceful transfer of power. Experts say the system's checks and balances will quash those efforts. They're confident that each state has the legal authoritites to quash them.
A federal judge in Texas temporarily halts the Biden administration's efforts to grant a pathway to citizenship to some illegal immigrant spouses of U.S. citizens. 16 states, led by Texas and America First Legal, argued that the rule violates federal law. The program could benefit an estimated 500,000 immigrants in the country, plus about 50,000 of their children. It is one of the biggest moves by Democratic President Joe Biden to provide legal status to long-term US residents who entered illegally.
Russia launched a large-scale attack across Ukraine on Monday, sending drones and cruise and ballistic missiles toward at least 15 regions. The strikes were among the largest such aerial attacks since the war began in 2022. Most of the country was targeted, from the Kharkiv region and Kyiv to Odesa and the west. At least two people were killed in an attack on a hotel in Kryvyi Rih; two more died in the central city of Serhii Lysak/Dnipropetrovsk.
Pavel Durov, the founder and CEO of messaging app Telegram, was arrested in Paris over the weekend. He is accused of distributing child sex abuse material and drugs, money laundering and working with organized crime on the app. His arrest reignites a fierce debate pitting free-speech advocates against tech companies. Toncoin, the token of The Open Network, slid more than 20% after he was taken into custody at a Paris airport on Saturday. It's now trading at $5.58 as of 2:11 p.m. Monday in London.
Kamala Harris and Donald Trump are having a presidential debate on ABC News on September 10th. Vice President Joe Biden's team secured a rule that ensured that a candidate's microphones were muted when it was not their turn to speak. The restriction was seen as an attempt to prevent a repeat of Trump’s constant interruptions in their debates in 2020. Now the Harris campaign wants the mics on, because they believe it will give Trump a chance to embarrass himself. Trump's team is pushing for muted mics.
The latest Israeli evacuation orders have halted U.N.'s aid operations in the Gaza Strip. The UN had to move international and Palestinian staff, several hundred dependents and equipment to an area in Al-Mawasi that Israel has designated as a safe zone. Norwegian Refugee Council reports that new Israeli decrees have forced thousands in Gaza’s Deir al-Balah to flee once more. It is one of the few remaining zones in the occupied Gaza Strip that still has vital infrastructure and storage facilities for relief supplies.
Andrea Rodriguez Avila, a junior at Rice University in Houston was found dead in her dorm room on Monday afternoon. She had missed her first day of classes. Her suspected shooter, an unidentified male student, was also found dead from a self-inflicted gunshot wound. The suspect left a note detailing his troubled relationship with the student. There was no sign of forced entry into the dorm room and it appears that the student let the shooter inside. It happened near the intersection of Main Street and Sunset Boulevard.
Special counsel Jack Smith is appealing to the 11th Circuit Court of Appeals to reinstate the classified documents case against former President Donald Trump. The case alleges Trump illegally retained classified documents from his presidency at his Florida estate and obstructed the government’s efforts to get them back. A federal judge dismissed the indictment last month, finding that Jack Smith's appointment as special counsel was unlawful. If allowed to stand, it could jeopardize the longstanding operation of the Justice Department and call into question the Constitution.
Robert F. Kennedy Jr. suspended his presidential campaign and endorsed Donald Trump. The former president held a rally in Arizona for his 2024 presidential election bid. He was joined by RFK Jr. at the Desert Diamond Arena in Glendale, where thousands of would-be attendees were waiting. Trump is trying to regain momentum in the nation’s battleground states as he retooled his message to attack Vice President Kamala Harris after she pummeled him during their convention in Chicago.
The US Supreme Court on Thursday upheld, 5-4, an Arizona law that requires proof of citizenship for voters registering to cast ballots in statewide elections. As of July 1, 42,301 Arizonans are registered to vote in the upcoming federal elections. The case involves an astoundingly convoluted system Arizona uses to register certain voters. Republicans claim several thousand Arizona voters should be allowed to vote only in congressional elections and barred from voting in state and local elections or for the president. Justices Sonia Sotomayor, Justices Clarence Thomas, Samuel Alito and Neil Gorsuch sided with the Republican National Committee.
Antonio Guterres is in Tonga for the Pacific Islands Forum Leaders Meeting. He urges world leaders to drastically slash global emissions and phase out fossil fuels, and massively boost climate adaptation investments to protect people from current and future risks. Global average sea levels are rising at rates unprecedented in the past 3,000 years. The South West Pacific was worst hit by sea level rises, in some places by more than double the global average in the last 30 years. Without drastic cuts to emissions, Pacific Islands can expect at least 15 cm of additional sea level rise by mid-century.
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Evan Gershkovich, Paul Whelan and Alsu Kurmasheva were released as part of a prisoner swap between Russia, the U.S., Germany and several other countries on Thursday. The deal is significant for the Biden administration, which has secured the release of more than 60 hostages or wrongful detainees from around the world over the past three years. "I would get this done even if I was seeking a second term," said Biden.
Keir Starmer unveils new police crackdown to treat 'far right thugs' like football hooligans in the wake of violence on Britain's streets following the Southport knife attack. Reform MP Lee Anderson suggested that the Prime Minister had failed to understand public anger over the killings. There has been mayhem in London, Hartlepool and Manchester leading to scores of arrests. Several suspects arrested in violent protests that erupted after the fatal stabbing of three children in northwest England made court appearances Friday. The Muslim Council of Britain urges mosques to take precautionary measures during Friday prayers. UK police are bracing for potential further violent far-right demonstrations.
Russian forces are advancing toward the strategically important city of Pokrovsk in eastern Ukraine, threatening a vital Ukrainian supply line. Russia has been stretching Ukrainian defenses across the entire eastern front line for months. India's prime minister Narendra Modi is scheduled to visit Kyiv in August. Russian President Vladimir Putin announced a "special military operation" (SVO - spetsialnaya voennaya operatsiya) in Ukraine in response to the appeal of the leaders of the "Donbass republics" for help.
Hezbollah launched dozens of rockets into Israel's Western Galilee in response to an Israeli strike on the southern Lebanese village of Chamaa. Four Syrians were killed in the attack. Hezbollah fired a surface-to-air missile at an Israeli warplane flying in Lebanese airspace overnight and forced it to turn back. It also carried out two artillery attacks and two rocket strikes at military positions in northern Israel. The Israeli military intercepted an aerial target coming from Lebanon into the Israeli-occupied Golan Heights. On Saturday, a projectile hit a football pitch in Majdal Shams, killing 12 children and young people. Hezbollah confirmed that Fuad Shukr, its military chief was killed in Beirut.
Algerian boxer Imanne Khelif won her opening bout in the women's boxing on Thursday. Angela Carini of Italy quit after just 46 seconds, which is unusual in the sport. The two other female boxers who took part in the event have failed gender eligibility tests in the past and were disqualified from the 2023 world championships. Organizers are defending their right to compete at the Paris Olympics. They also question the fairness of their previous disqualification without due process.
Evan Gershkovich, Alsu Kurmasheva and former U.S. Marine Paul Whelan were released as part of the biggest East-West prisoner swap since the Cold War. Joe Biden and Kamala Harris have met Wall Street Journal reporter Evan Gerschkovich and two other freed American prisoners at Andrews Air Force Base near Washington DC. They had spent nearly a decade in Russian captivity. John Sutter analyzes the political significance of the prisoner exchange and Donald Trump’s latest insults about Vice President Kamela Harris.
A 17-year-old boy from Cardiff was arrested on suspicion of murder in the stabbing attack at a dance class celebrating Taylor Swift's music in Southport, England. Bebe King King, 7, Elsie Dotsie Dotson, 9, Alice Dasva Aguiar, 6, and Elsie Dasva Dotson died after the attack. Five other children and two adults remain in critical condition. On Thursday, local police charged Axel Muganwa Ru with the crime. Archbishop of Liverpool urged Catholics to pray for the victims of the incident. Liverpool are training ahead of Wednesday's pre-season friendly against Arsenal.
Turkish authorities blocked access to Instagram on Friday. Transport and Infrastructure Minister Abdulkadir Uraloglu confirmed the ban later on Friday, saying the platform didn't comply with "some rules" and "social sensitivities" of Turkey. Yeni Safak newspaper said access was blocked in response to Instagram removing posts by Turkish users that expressed condolences over the killing of Hamas' political leader Ismail Haniyeh. A government official had earlier criticized Instagram's censorship policies. The country's head of communications, Fahrettin Altun, also condemned Instagram for preventing people from posting messages of condolences for the passing of Hamas’s political leader.
Ismail al-Ghoul, 27, cameraman Rami al-Rifi and a child who was not identified were killed in an Israeli strike in Gaza City on Wednesday. The two journalists had been reporting together at the Shati Refugee Camp near the birthplace of slain Hamas leader Ismail Haniyeh. There is an outbreak of 40,000 cases of hepatitis A in Gaza due to the collapse of the waste management system as Israel continues its offensive there. Al Jazeera Media Network strongly refutes the baseless allegations made by the Israeli occupation forces in an attempt to justify its deliberate killing of Ismail Al Ghoul.
Ri Il Kyu is the highest-ranking defector to escape North Korea since 2016. He has been face to face with Kim Jong Un on seven separate occasions. The former diplomat was working in Cuba when he fled with his family to South Korea last November. Ri said Pyongyang's working on a new negotiating strategy with the aim of lifting sanctions on its weapons programs, removing its designation as a state sponsor of terrorism and eliciting economic aid. In recent statements, the North has said it could ditch the possibility of dialogue with the U.S. and warned of armed confrontation.
Biden administration has temporarily stopped issuing travel authorizations for the CHNV program that allows up to 30,000 migrants from Cuba, Haiti, Nicaragua and Venezuela to enter the U.S. each month. An internal DHS report revealed rampant fraud among the sponsors paying for the migrants to come to the country. Immigration enforcement advocates have strongly opposed the illegal parole programs created by the Biden-Harris administration. Internal documents obtained by the Federation for American Immigration Reform reveal that the department has been rubberstamping parole applications without verifying information provided by sponsors or parolees.
There is an initial hearing for nine soldiers accused of sexual abuse of a Palestinian at the Sde Teiman facility where Israel has held prisoners from Gaza during the war. The investigation has stoked tensions between the military command and hard-line nationalists in Prime Minister Benjamin Netanyahu’s government. On Monday, several hundred protesters broke into the facility in southern Israel and then into the military base where the soldiers were being held. They are protesting the detention and questioning of reservists suspected of raping and abusing a Palestinian prisoner whose injuries were so bad he needed hospitalization.
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The U.S. Federal Reserve is expected to cut the overnight lending rate on September 18th. The Fed has a dual mandate of promoting stable prices and maximum employment. Central bankers from Europe to Asia will also set policy against a backdrop of brittle markets this week. Listen to the Here’s Why podcast on Apple, Spotify or anywhere you listen. For more information about Investment Perspectives, visit Janney's Investment Strategy Group website. In the issue, Mark Luschini looks at labor conditions and what they signal for the path ahead. Andrew Rice explains how to position your portfolio before the FOMC meeting.
Boeing's machinists union in Washington state voted to strike late Thursday evening. Boeing shares were off 0.3% in midday trade, leaving its stock down nearly 38% so far this year. The strike is expected to halt the manufacture of Boeing's best-selling airliners and is yet another setback for a company already awash in financial losses and damage to its reputation. It will affect the company’s work on the KC-46 Pegasus refueling tanker.
The stock market has recovered most of the losses suffered in its summer selloff. Traders are rotating into sectors like real estate, utilities and consumer staples amid fears of sputtering economic growth and with the Federal Reserve preparing to start cutting interest rates as soon as Wednesday. Tech stocks have dominated US stock markets this year. Nvidia is the best performing stock on the S&P 500 YTD, rising 115%, and the semiconductor index rose more than 50%. Even amongst US mega cap tech stocks, Nvidia was by far and away the best performer for most of this year but there has been a shift in the leadership of US tech stocks.
The Powerball jackpot is up to $165 million for Monday night's drawing with a cash value of $83.8 million. The winning numbers for Saturday were 14-34-37-55-63 and the Powerball was 20. A ticket matching all five white balls worth $1 million was sold in Colorado on Saturday. Tickets start at $2 each. Wisconsin Lottery prizes must be claimed within 180 days (six months) from the date of the drawing. Ours are the top 10 Powerball and Mega Millions jackpots in Wisconsin history.
The Nasdaq Composite and S&P 500 had their best week of the year. The Dow Jones Industrial Average (DJI) ended the week in the green, up around 3%. Traders flip-flopped on whether the Federal Reserve will cut interest rates by 25 basis points or 50 basis points at its two-day policy meeting on Wednesday. The Fed has kept its main interest rate at a two-decade high in hopes of slowing the economy enough to stifle high inflation. Next week, the Wall Street will see updates on some crucial economic data such as US retail sales, home sales, and industrial production among others. FedEx, General Mills, Darden Restaurants, and homebuilder Lennar are reporting earnings this week. Utilities is the top-performing sector
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The iPhone 16 Pro is expected to be stronger in several key areas, including the wide-angle camera. According to rumors, it could be gaining the best part of last year’s iPhone 15 Pro Max, a tetraprism telephoto lens that will give it a 5x optical zoom. The iPhone 16 screen will increase from 6.1 inches to 6.3 inches, while the iPhone 16 Plus screen will stay at 6.7 inches. Apple will unveil its all-new flagship iPhone lineup next week.
GoPro has expanded its action camera portfolio with the launch of two new cameras, the Hero Black 13 and the Hero 4K. The HERO13 Black comes with four interchangeable lens mods that the camera can automatically detect and adjust its settings for the same lenses. The Hero is the smallest, lightest and cheapest 4K LCD screen camera in the global market at under $200/£200. It weighs 86g and has waterproof filming up to 16ft (5m) and can shoot up to 4K video. It's compatible with four swappable HB-Series lenses: an Ultra Wide Lens Mod with a 177° field of view and a Macro Lens mod with a minimum focusing distance of 4.3in (11cm).
Huawei is set to launch a tri-fold smartphone on September 10, 2024. It will be the first of its kind and it will have a 10-inch screen. Apple is launching its new iPhone 16 and accessories on September 9th. Huawei's consumer group chief Richard Yu announced the event on social media platform Weibo. The launch comes just hours after Apple’s event on the US West Coast at 2:30 p.m. local time (9:30 am GMT).
The iPhone 16 launch is coming up in a few days. New research from Consumer Intelligence Research Partners (CIRP) shows that the new features and capabilities coming to iPhone might not be enough to make people upgrade their phones. Only 18% of customers said they upgrade to the iPhone 16 based on new features. 75% of respondents cited obsolescence of their old phone or need to replace a lost, broken, or stolen device as the main reason for upgrading. 37% would upgrade to unify the charging port of their iPhone with a single cable.
Concord, Firewalk Studios' new hero shooter, is being taken offline on September 6th. The game was released on August 23rd on PlayStation 5 and PC to mostly positive reviews but a middling player count. On Steam, the PC version of the game peaked at an all-time high of 697 players on its release day. Right now, there are just 56 people playing the game with a 24-hour peak of 110. Concord has solid gameplay mechanics but fails when it comes to providing characters to care about.
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