Business & Economy
Elon Musk’s xAI sues Minnesota over its first-in-the-nation law banning ‘nudification’ technology
Elon Musk's company xAI has sued Minnesota over the state's first-in-the-nation law that bans "nudification" technology on websites and apps, potentially providing a test for how far states can go in constitutionally regulating the use of artificial intelligence.
Kentucky taps Pete Nochta as football GM after Pat Biondo’s sudden exit
Kentucky promoted Pete Nochta to general manager of the Wildcats' football team Wednesday, a day after Pat Biondo announced his departure only months after being hired.
Starbucks reports strong quarterly sales and raises annual outlook
Starbucks shares soared Wednesday after the coffee giant reported better-than-expected quarterly revenue and profit and raised its financial outlook for the year.
Investigation revealed ‘devastating’ reports of sexual misconduct at school supported by Epstein
Two people who attended a prestigious Michigan fine arts school reported conduct of a sexual nature by Jeffrey Epstein, a major donor, according to an investigation that also uncovered dozens of allegations spanning decades against nearly 50 other people.
Meta shares drop as Q2 profit declines due to legal expenses and severance costs
Meta Platforms said Wednesday its second-quarter profit declined even as revenue beat Wall Street's expectations, as legal expenses and severance costs for recent layoffs weighed on its results.
White House officials pitch skeptical Senate GOP on $95 billion budget bill
Top White House officials visited Capitol Hill on Wednesday to convince hesitant Senate Republicans to back the House's $95 billion plan for a filibuster-proof budget reconciliation package and to kickstart the process before leaving for August recess.
Fed leaves interest rates alone but three members dissent, putting Chair Kevin Warsh in a tight spot
The Federal Reserve decided to keep interest rates unchanged on Wednesday, though Chairman Kevin Warsh faced pressure from fellow central bankers to curb inflation by increasing rates even as President Trump demands cuts.
U.S. Treasury targets Iran’s levers of control in Strait of Hormuz as blockade continues
The U.S. Treasury Department on Wednesday announced sanctions on two entities used by Iran to control traffic in the Strait of Hormuz.
Wildfires near Bordeaux bring more troubles to France’s wine industry
From his vineyards in Bordeaux wine country, Edouard le Grix de la Salle can sometimes smell the burning forests far away. The smoke brings a whiff of hardship for the region's economic fortunes.
Oil prices jump following fighting with Iran, while sinking AI stocks drag Wall Street lower
Oil prices are back to jumping on Wednesday, while sinking technology stocks are dragging Wall Street lower ahead of a Federal Reserve decision on what to do with interest rates.
Telegram’s billionaire founder Pavel Durov has faced legal woes before — in Russia and France
Pavel Durov, the billionaire founder and CEO of the Telegram messaging app, has repeatedly run into trouble with both the Kremlin and Western officials as he cast himself as a champion of free speech.
Wisconsin appeals court overturns ruling that had restored collective bargaining power
A Wisconsin appeals court on Wednesday restored a 2011 anti-union law that abolished collective bargaining rights, in a setback for unions and public workers. Unions are expected to appeal, sending the case to the Wisconsin Supreme Court, which is controlled by liberal justices.
FIFA’s Infantino sets deadline for $20M offer to members in Kushner-backed World Cup investor plan
FIFA President Gianni Infantino set a Sept. 19 deadline on Wednesday for the 211 member federations to accept one-off $20 million offers as part of a project to sell stakes in the World Cup to private investors.
Beyonce takes full ownership of SirDavis American Whisky brand
Pop star Beyonce has taken full ownership of SirDavis American Whisky, ending a partnership with French luxury conglomerate Moet Hennessy that produced the brand in 2024.
Iran condemns U.S.-Saudi attacks on Iraq as war expands further
Iran on Wednesday sharply criticized the joint U.S.-Saudi airstrikes against its allied militias in Iraq.
U.S. bans foreign-made humanoid robots, targeting China over national security
The U.S. Federal Communications Commission is banning imports of new foreign-made humanoid robots and power inverters, citing national security risks, in a move that targets China. Beijing quickly accused the U.S. of protectionism.
The Federal Reserve is expected to keep rates unchanged for now despite high prices
Federal Reserve policymakers are losing patience with inflation, but they may not be ready to turn their frustration into action -- not this week anyway.
Senate advances Russia sanctions bill championed by late Sen. Lindsey Graham
Senators capped off a day of tributes to their late colleague Lindsey Graham by advancing a sanctions bill he spent his final week of life negotiating.
CBS’ ‘60 minutes’ announces new slate of correspondents for upcoming 59th season
Two months after a major shakeup, CBS's "60 Minutes" has hired a lineup of new correspondents and contributors in time for its 59th season, including Ross Douthat, a conservative opinion columnist at The New York Times, and Norah O'Donnell, former anchor of "CBS Evening News."
Former Golden Globes owners sue Penske Media alleging fraud in acquisition of awards show
Members of the Hollywood Foreign Press, which founded and for decades owned the Golden Globe Awards, have sued Penske Media Corporation and others, alleging they engaged in fraud to acquire the valuable awards show in an attempt to create an entertainment industry monopoly.
