Business News Archives for 2026-08

AM Business Notebook 

For: August 13, 2026

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after stocks closed mixed on Wednesday.  Stocks related to AI saw gains, including  Dell Technologies, Micron Technology and Cisco Systems.  At the closing bell, the Dow Jones Industrial Average lost 21 points to 53-770.  The S&P 500 gained 20 points to 77-48.  The Nasdaq rose 143 points to 26-588.

 

>>PPI Due Today

(Undated)  --  Another key inflation report is due out today.  The Producer Price Index examines prices at the wholesale level, before they reach consumers, and can be a good guideline of what we'll be paying int he months to come.  It comes after the Consumer Price Index was released on Wednesday, showing inflation went up slightly from June to July.  Usually, the reports move in tandem, but not always.  Both reports are used by the Federal Reserve when it comes to determining interest rates.

 

>>Twitch Allows Users To "Opt Out" Of AI Training

(Seattle, WA)  --  A popular streaming platform is now letting its content creators block Amazon from using their videos to help train its AI models.  Twitch announced on Wednesday that users can now opt out by going to the settings page under 'security and privacy.'  Amazon bought Twitch in 2014, and recently confirmed that it was using its streamers' content to train its generative AI models.  

 

>>Grubhub App Users Could Get Payments From FTC

(Undated)  --  The FTC says it's sending money to thousands of Grubhub users to settle a lawsuit alleging that the delivery service tricked customers with hidden fees. The payments will total more than 23-million dollars.  It comes after the FTC and Illinois Attorney General accused the company back in 2024 of using illegal and deceptive practices.  The FTC says a former Grubhub executive referred to the practice as a "pricing shell game."  Grubhub was also accused of deceiving its drivers about how much money they would make and listing restaurants on its platform without their permission. 

 

>>President Trump's Media Company Sued For New Truth Social Product

(Undated)  --  A lawsuit has been filed against President Trump's media company.  This comes after Trump Media announced a new product that gives paying Wall Street firms faster access to the president's Truth Social posts.  The Intercept filed the suit Wednesday, saying it violates the First Amendment.  The suit also notes that the "scheme is profoundly corrupt."  The product was initially announced last month, with firms having to pay between 60-thousand to 100-thousand dollars per month to gain access to the real-time feed.  

 

>>Josh Kushner, Bob Iger Buying Lakers For $12B+

(Los Angeles, CA)  --  Businessmen Josh Kushner and Bob Iger are reportedly buying the Lakers for more than 12-billion dollars.  It would be a record-breaking price, if the sale is approved by the NBA Board of Governors.  Mark Walter bought a controlling interest in the Lakers from the Buss family for approximately ten-billion dollars last October and is now agreeing to sell.  He also owns the Dodgers and parts of several other sports teams.

 

>>Phoebe Gates Faces Accusation

(New York, NY)  --  Bill Gates' daughter Phoebe Gates and her startup "Phia" are facing scrutiny over allegations the company improperly used "cookie stuffing" to take credit for online sales it may not have driven.   A Bloomberg report says Gates and co-founder Sophia Kianni were aware for months of features that could drop tracking cookies even when shoppers did not use Phia's coupons.  Phia initially described the issue as a software bug, but says the features were removed July 7th and that it is reviewing transactions and reversing any improper commissions.  The company disputes parts of Bloomberg's analysis, while legal experts warn cookie stuffing can potentially be prosecuted as federal wire fraud, carrying significant penalties.

 

>>WalletHub Study Reveals Top States To Live In 

(Undated)  --  One study is revealing the top states to live in. WalletHub based its ranking of all 50 states on 51 key metrics, including health care and location, income, and homeownership rates. Idaho took the top spot for its low real estate tax rate and highest median income growth in the country. New Jersey took the second spot for its location to economic hubs and highly rated healthcare while Wisconsin made up the top three for its affordable housing. Massachusetts and New Hampshire round out the top five on the list. 


 

AM Business Notebook 

For: August 12, 2026

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning on Wall Street after stocks closed lower yesterday. Oil prices have been on the rise amid uncertainty over the status of the conflict between the U.S. and Iran and the Strait of Hormuz.  U.S. West Texas Intermediate futures and international benchmark Brent crude were both up over one-percent. Elsewhere, shares of Alphabet and AppLovin have both seen a dip.  At the closing bell, the Dow Jones Industrial Average lost 184 points to 53-791.  The S&P 500 fell 24 points to 77-28. The Nasdaq dropped 159 points to 26-445. 

 

>>CPI Out Today 

(Undated)  --  The Consumer Price Index, one of the Fed's favorite inflation gauges, is set to be released today.  That will be followed by equally important Producer Price Index on Thursday along with the weekly look at first-time jobless claims.  

 

>>California's Minimum Wage Set To Go Up

(Sacramento, CA)  --  California will raise its minimum wage to 17 dollars and 40 cents per hour starting January 1st next year.  This is a 50-cent increase from the current hourly wage.  The federal minimum wage is still seven dollars and 25 cents, unchanged since 2009.  California's minimum wage goes up each year to keep up with inflation.  The amount is based on the Consumer Price Index. 

 

>>TikTok Ban On Government Devices Lifted

(Washington, DC)  --  The Office of Management and Budget has lifted the ban on TikTok on federal government devices.  The move follows a Justice Department opinion finding that employees can legally download TikTok under the platform's new U.S. joint venture, which is majority-owned by American investors.  TikTok's Chinese parent company, ByteDance, retains a 19-point-nine-percent stake, while Oracle, Silver Lake and MGX each hold 15-percent.  The arrangement was created to address national security and privacy concerns behind a 2024 law requiring ByteDance to divest from TikTok or face a U.S. ban.  The decision marks the latest development in the long-running effort to keep TikTok operating in the United States.

 

>>Powerball Jackpot Hits $1 Billion  

(Undated)  --  One-billion dollars is up for grabs in Wednesday's Powerball drawing.  The jackpot hit the mark after there was no grand prize winner in Monday night's drawing.  The cash value of the grand prize is 433-point-one-million dollars.  Tickets are two dollars each.  Odds of winning are roughly one in 292-million.     

 

AM Business Notebook

For: August 11, 2026

>>Ahead Of The Bell (New York, NY) -- The opening bell rings this morning after a down day on Wall Street as stocks closed lower Monday to start off the trading week. At the closing bell, the Dow Jones Industrial Average lost 60 points to 53-975. The S&P 500 fell 4 points to 77-53. The Nasdaq dropped 85 points to 26-605.

 

>>Appeals Court Declines To Dismiss Online Safety Suits Against Social Media Companies

(Washington, DC) -- A U.S. Appeals Court has declined to dismiss thousands of online safety lawsuits against major social media companies. In a ruling issued Monday, the Ninth Circuit said Section 230 of the Communications Decency Act can be used as a defense against liability, but not to avoid being sued altogether. The lawsuits allege platforms owned by companies like Meta and TikTok encourage addictive behavior, fail to properly verify users' ages and do not do enough to protect users from harmful content. Meta and TikTok argued the section should also protect them from lawsuits targeting the design of their platforms and sought to appeal before the litigation concludes. The court rejected that argument, clearing the way for thousands of cases to continue moving through the legal system.

 

>>Trump Media Company Reports $238M Loss In Q2

(Sarasota, FL) -- President Trump's media company, the company behind Truth Social, is reporting a nearly 240-million-dollar loss for the second quarter. Trump Media and Technology Group on Monday reported that revenue was up 89 percent compared to the same time last year. Most of those losses were attributed to unrealized losses on digital assets and equity securities. Shares dropped eight percent at market close.

 

>>Most In-Demand ZIP Codes For Homebuyers

(Undated) -- Realtor.com is out with a list of the most in-demand ZIP codes for homebuyers in the first half of 2026. With a 600-thousand-dollar median list price, Peabody, Massachusetts is the hottest place for U.S. home shoppers right now with views per property in the area receiving just over four times the U.S. average. For the fourth year in a row, the website's top ten hottest ZIP codes are all in the Northeast or Midwest. That's largely because fewer homes have been built in those regions, leaving buyers to compete for fewer properties. Meanwhile, buyers competing for homes in these areas tend to be financially well prepared as the average down payment was 17.1-percent across the top ten, compared with 13.1-percent nationally.

 

>>Powerball Jackpot Jumps To $975M

(Undated) -- The Powerball jackpot is moving closer to one-billion-dollars. There was no grand prize winner in Monday night's drawing so Wednesday's will be worth at least 975-million-dollars with a cash value of a little over 422-million. Tickets are two dollars each. Odds of winning are roughly one in 292-million. 

 

AM Business Notebook  

For: August 10, 2026 

>>Watching Wall Street 

(New York, NY)  --  The opening bell rings this morning after the trading week ended Friday with stocks higher and the S&P 500 closing at a record high.  That all came after the latest jobs report saw an unexpected loss, which is leading investors to believe the Federal Reserve won't raise rates anytime soon.  The Bureau of Labor Statistics said 23-thousand jobs were unexpectedly shed in July, against expectations of up to as many as 83-thousand new jobs created.  At Friday's closing bell, the Dow Jones Industrial Average gained 151 points to 54-063.  The S&P 500 rose by 47 points 77-57.  The Nasdaq gained 342 points to 26-690.  

 

>>Reports On The Calendar

(Undated)  --  Coming up in the business week ahead, economic reports start rolling in tomorrow with the latest data on existing home sales.  The Consumer Price Index, one of the Fed's favorite inflation gauges, is due Wednesday.  Thursday brings the Producer Price Index and the weekly look at first-time jobless claims.  The week wraps up with retail sales on Friday.

 

>>Taylor Farms Recalling Foods With Jalapenos

(Salinas, CA)  --  Taylor Farms is recalling food items containing jalapenos over possible salmonella contamination.  It comes after the California-based company pulled lettuce linked to the ongoing cyclospora outbreak.  Taylor Farms said the recalled products include salsas and guacamole, flagged after the fresh peppers were recalled by Coast Citrus Distributors.

 

>>Verizon Service Returns After Cables Were Cut

(Los Angeles, CA)  --  Verizon customers across Southern California once again have service after vandals cut fiber cables and triggered a massive disruption of mobile and home internet service.  The Downdetector site says over 12-thousand outage reports were registered yesterday.  That's likely a small percentage of the total number of people who lost service.  Verizon has not provided much information about where the cables were cut or who might be responsible for the vandalism.   

 

>>GAO: DOGE Overstated Savings

(Washington, DC)  --  The Government Accountability Office says Elon Musk's DOGE overstated some of its claimed cost savings from cuts.  DOGE, or the Department of Government Efficiency, claimed 110-billion dollars saved with its cuts to federal contracts, grant programs and leases.  Overall, DOGE reported a total of 215-billion in cuts.  A new report from the GAO says there were issues with transparency that made the reported savings unreliable.  For instance, millions of dollars in reported savings from cuts to leases included leases that were already in the process of termination before DOGE was formed.  

 

>>Over 1M Ladders Recalled 

(Louisville, KY)  --  A Kentucky importer has announced over one-million ladders have been recalled due to potential fall risks and injuries.  Louisville Ladder, Inc. recalled the ladder in an alert late last week.  The Kentucky-based company said the aluminum or wood frame ladders with gas struts come with hand rails and fold into the attic.  On the Consumer Product Safety Commission website, the company said that the bolts on the ladders could break, causing those using them to be injured.  The attic stairway ladders were manufactured in Mexico and sold in home improvement stores between November 2012 and July 2026. 

 

AM Business Notebook 

For: August 7, 2026

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning on Wall Street after stocks closed in the red yesterday.  At the closing bell, the Dow Jones Industrial Average lost 464 points to 53-885.  The S&P 500 fell 13 points to 77-09. The Nasdaq dropped 15 points to 26-348.   

 

>>23,000 Jobs Lost Last Month 

(Washington, DC)  --  Job creation stalled last month.  The government's monthly employment report out today shows no new non-farm payroll jobs added in July.  In fact, the Bureau of Labor Statistics says 23-thousand jobs were unexpectedly shed.  Most analysts had been expecting to see as many as 83-thousand new jobs created.  Meanwhile, the unemployment rate did slip a bit from four-point-two percent to four-point-one.

 

>>Meta Ordered To Pay $567M In NM Case

(Albuquerque, NM)  --  Meta is being ordered to pay a hefty fine for contributing to a "mental health crisis" among children.  A New Mexico judge ordered the owner of Facebook and Instagram to pay 567-million dollars into a child mental health fund set up to address harms caused by social media.  In Thursday's ruling, the judge called Meta's social media platforms "a significant contributing factor to the current mental health crisis among New Mexico's youth."  Lawyers for Meta say the company disagrees with the ruling and plans to appeal.  

 

>>FCC Votes On Ownership Rule

(Undated)  --  The FCC has voted to eliminate a decades-old rule limiting how many households a single broadcaster can reach nationwide.  The previous cap restricted broadcasters from reaching more than 39-percent of the national television audience, but the FCC says the change will help TV networks compete with major digital platforms.  The agency will now use a case-by-case review process when evaluating broadcast ownership limits.  Supporters say the move will strengthen local broadcasters, while critics warn it could lead to more media consolidation and fewer independent voices.  The decision could have major implications for the future of television news and the media industry.

 

>>Coastal Launch Pad Proposed

(Baton Rouge, LA)  --  The governor of Louisiana is addressing reports that SpaceX is looking to build a launch pad in his state.  Republican Jeff Landry says he's open to the idea.  There have been suggestions that Elon Musk's space company has their eyes on a possible location near Vermilion Bay and Pecan Island, which is about one hour south of Lafayette.

 

>>$110,000 Annual Salary Needed To Afford A Home In 2026

(Undated)  --  Americans need to earn around 110-thousand-dollars to comfortably afford a typical home for sale in the United States.  That's according to a new Redfin report that looked at the annual income a household would need to purchase a median-priced home in June 2026.  The necessary 110-thousand-dollar income is just point-five-percent lower than last year's record high amount, while Redfin estimates the median U.S. household earned nearly 88-thousand-dollars in June, up four-percent from a year ago.  Affordability has improved in 24 of the 46 major metro areas that Redfin analyzed.  Seattle experienced the largest improvement, with the income needed to afford the typical home dropping seven-point-four-percent from a year earlier as home prices fell. 


 

AM Business Notebook 

For: August 6, 2026 

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after the Dow Jones Industrial Average hit another record high as stocks closed mixed yesterday on Wall Street.  It comes as Shares of SpaceX have dropped after the company released its first quarterly report since going public.  At the closing bell, the Dow added 263 points to end at 54-349.  The S&P 500 fell 12 points to 77-23.  The Nasdaq dropped 221 points to 26-363.

 

>>Disney Reports Q3 Gains

(Burbank, CA)  --  Disney saw a strong third quarter.  The entertainment giant reported Wednesday that earnings topped expectations, revenue though was slightly under market expectations.  Revenue was up seven percent year-over-year at more than 25-billion-dollars, driven by theme park attendance and the success of Pixar's "Toy Story 5" in theaters.  Revenue was also up for streaming services Disney+ and Hulu.  

 

>>OpenAI Settles With DOJ

(Washington, DC) --  OpenAI is agreeing to a three-point-two-million dollar settlement with the Department of Justice over allegations the company discriminated against U.S. workers in its hiring practices.  The DOJ says the investigation involved fewer than ten positions, but found issues including how some jobs were advertised and how applications were accepted.  Under the agreement, OpenAI will pay one-point-two-million in civil penalties and two-million to compensate workers affected by the alleged practices.  The company denies the findings but says it reached the agreement to resolve the matter and move forward with its immigration-related hiring program.

 

>>Saudi-Led $55 Billion Takeover Of EA Has Closed

(Undated)  --  Electronic Arts is now privately owned after the largest leveraged buyout in history closed this week.  EA had teased the move, saying last week that the 55-billion-dollar buyout had cleared all of the required regulatory hurdles, paving the way for the company and its new owners to wrap things up.  Saudi Arabia's Public Investment Fund now owns over 93 percent of the video game publisher.  Private equity firms Silver Lake and Affinity Partners are also among the new owners, while current CEO Andrew Wilson remains at the helm of the company which is still based in Redwood City, California.  The buyers used 20-billion-dollars in debt financing to secure the deal, which EA will have to pay back over time.  

 

>>Powerball Jackpot Soars

(Undated)  --  The Powerball jackpot is up to 856-million dollars after no one won the grand prize in Wednesday night's drawing.  The next chance to strike it rich comes this Saturday with the cash value option on the massive jackpot coming out to 372-million dollars.

 

AM Business Notebook

For: August 5, 2026

>>Ahead Of The Bell

(New York, NY) -- The opening bell rings this morning after stocks closed sharply higher on Wall Street yesterday. The Dow Jones Industrial Average and S&P 500 both notched new records as optimism grows that the Strait of Hormuz will be reopened. At the closing bell,the Dow Jones Industrial Average added 907 points to 54-085. The S&P 500 gained 136 points to 77-36. The Nasdaq rose 671 points to 26-584.

 

>>SpaceX Releases First Earnings Report As Publicly Traded Company

(Starbase, TX) -- SpaceX reported better than expected quarterly profit in its first report as a public company, but concern over massive spending on artificial intelligence sent the stock down more than six percent after-hours. The rocket company posted Q2 revenue of seven-point-eight-billion dollars, mostly from its Starlink internet service. But its xAI unit, which runs Grok, spent nearly 16-billion-dollars, the majority of SpaceX's capital expenditures. SpaceX ranks as one of the top ten largest companies in the world based on market cap.

 

>>Paramount Warner Bros Antitrust Trial

(Los Angeles, CA) -- A federal judge has set a March 2027 trial date in the antitrust lawsuit challenging Paramount's proposed merger with Warner Bros. Discovery. The date is later than Paramount requested and could prove costly, as the company is set to begin paying Warner Bros. Discovery shareholders seven-million dollars a day starting October 1st until the deal closes. A coalition of 12 state attorneys general argues the 111-billion dollar merger would reduce competition, while the Writers Guild of America has filed a separate lawsuit raising concerns about its impact on writers. Paramount maintains the merger would strengthen its ability to compete with major streaming companies and ultimately benefit consumers.

 

>>California Democrats Endorse Billionaire Tax Measure

(Sacramento, CA) -- California Democrats are officially backing a ballot measure that would tax the state's wealthiest residents to help fund healthcare. The state Democratic Party's executive board voted to endorse Proposition 40, which would impose a five-percent tax on the net worth of billionaires to help prevent healthcare cuts, hospital closures and layoffs. Supporters say the measure would protect essential services, while opponents, including Governor Gavin Newsom, some labor groups and business organizations, argue it could drive wealthy residents out of California and reduce long-term tax revenue. 

 

AM Business Notebook 

For: August 4, 2026

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after stocks closed higher on Wall Street Monday as Iran tensions ease.  Stocks rallied with the Dow Jones Industrial Average surging to a record high as oil prices declined after President Trump called off planned strikes against Iran.  Tech shares including Meta Platforms, Amazon, Alphabet and Microsoft all climbed about five percent or more.  At the closing bell, the Dow Jones Industrial Average gained 693 points to 53-178.  The S&P 500 rose 110 points to 76-00.  The Nasdaq jumped 540 points to 25-913.

 

>>SpaceX's First Earnings Report As Publicly Traded Company Due Today 

(Starbase, TX)  --  SpaceX is preparing to release its first quarterly earnings report as a publicly traded company today.  Among the line items investors will be watching - total revenue, revenue from its Starlink satellite internet service and AI revenue guidance will be highly scrutinized.  The earnings report also triggers an expiration lock up period ending Thursday, which opens more than 910-million shares for sale that were purchased by early investors.  SpaceX ranks as one of the top ten largest companies in the world based on market cap.

 

>>Amazon Market Cap

(Seattle, WA)  --  Amazon continues to rise after its market value topped three-trillion for the first time.  Shares hit a record high Monday, rising about four-percent after the company reported their second-quarter earnings, fueled by major growth in its cloud computing business and rising demand for artificial intelligence services.  Amazon Web Services brought in more than forty-two-billion-dollars in revenue, beating Wall Street expectations and highlighting the continued AI boom across the tech industry.  CEO Andy Jassy says Amazon plans to increase its spending on AI infrastructure, projecting capital investments could reach two-hundred-twenty-billion this year as the company works to keep up with demand.

 

>>Trump: Oil Companies Are Making Too Much Money

(Washington, DC)  --  President Trump says ExxonMobil and Chevron are making too much money.  Speaking in the Oval Office Monday, Trump said the country's two largest oil companies were taking in too much money based on a shortage and that they ought to give some of that windfall back to the public.  The President said he's a big free enterprise guy but he's not happy about the situation.  The oil industry argues current profits are based on global supply and demand.   The American Petroleum Institute also cites uncertainty over the Strait of Hormuz, the critical oil trade route that's been choked to a trickle by the Iran war.  

 

>>Jobs Report Out This Week 

(Undated)  --  The monthly jobs report will be in the spotlight when it's released by the Labor Department this week.  Most analysts expect to see that the economy added an estimated 85-thousand new, non-farm payroll jobs in July.  That would be a notable increase from the 57-thousand jobs added the month prior, although the unemployment rate is forecast to tick slightly up to four-point-three percent.  The latest U.S. employment report is set for release on Friday.


 

AM Business Notebook 

For: August 3, 2026

>>Watching Wall Street 

(New York, NY)  --  The opening bell rings this morning after stocks closed higher on Friday to wrap up the final trading session of July.  Amazon surged 15 percent after reporting better than expected second quarter results.  Investors looked past rising bond yields as chip stocks extended their rally to end the week.  At the closing bell, the Dow Jones Industrial Average gained 276 points to 52-485.  The S&P 500 added 52 points to 74-89.  The Nasdaq rose 251 points to 25-373.

 

>>Some Improvement Expected In Monthly Jobs Report 

(Undated)  --  Coming up in the business week ahead - jobs data.  We'll get the Job Openings and Labor Turnover Survey on Tuesday, followed by ADP's monthly hiring survey on Wednesday.  The payroll processor only looks at private employers, but economists consider it a good indication of what to expect from the big headline story of the week - the monthly jobs report.  That's due to be released by the Labor Department on Friday.  Most analysts estimate the economy added about 85-thousand new, non-farm payroll jobs in July.  That would be a notable increase from the 57-thousand jobs added the month prior, although the unemployment rate is forecast to tick slightly up to four-point-three percent.  

 

>>Consumer Sentiment Rises Nearly 12% In July  

(Ann Arbor, MI)  --  Consumer sentiment jumped in July as inflation fears eased.  The University of Michigan's final reading for last month rose nearly 12 percent from June.  The survey's chief economist said despite the recent gains overall sentiment is still down eleven percent from a year ago.  She noted consumers remain focused on pocketbook issues after five years of high inflation and high prices.  One-year inflation expectations dipped slightly to their lowest readying since March.

 

>>Americans Hold Record New Vehicle Debt 

(Santa Monica, CA)  --  New car prices are causing buyers to go deeper into debt to finance purchases.  Data from Edmunds shows almost 30-percent of new car buyers are still paying off loans for their trade-ins.  Edmunds said the average amount of remaining balances on cars traded in the second quarter of 2026 was nearly seven-thousand dollars.  That's the highest for a second quarter on record.

 

>>Ford Recalls 47k Trucks To Fix Rear Camera Display Issue 

(Detroit, MI)  --  Ford is recalling over 47-thousand F-150 and F-250 pickup trucks.  A spokesperson says the rear camera's display screen blocks when the menu is open when reversing.  It violates a federal rule and may cause an accident.  Owners will be sent a letter starting this month.  An over-the-air software update may fix this issue for most trucks.  For more details, go to the NHTSA webpage.  
 

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