Telegram CEO charged over criminal activity on the app. French...
Telegram CEO charged over criminal activity on the app. French prosecutors released billionaire Pavel Durov yesterday but charged him with several crimes related to unlawful activity on the messaging app—including child pornography and drug trafficking—set bail at €5 million (~$5.5 million), and forbade him to leave the country. Authorities say the company has been uncooperative in legal investigations into crime on its platform. Durov’s arrest at a French airport over the weekend led to a global outcry concerning free speech and stood out for holding a tech executive responsible for activity on its app. The CEO faces up to 10 years in prison on the charges, but they could also be dropped if authorities later decide there isn’t enough evidence.
Yelp slapped Google with an antitrust suit, potentially ushering in a wave of litigation from competitors after a federal judge ruled in the government’s favor that Google had an illegal monopoly on search.
Investigators still have not pinpointed a motive for the attempted assassination of Donald Trump, with the FBI saying the shooter researched both Trump and Biden events and picked the Pennsylvania rally as a “target of opportunity.”
Israel carried out large raids in the occupied West Bank, killing at least 10 people identified as Hamas militants, conducting arrests, and sealing off the city of Jenin.
Abercrombie & Fitch’s sales grew 21% last quarter, but the mall staple’s stock fell after its CEO noted the “increasingly uncertain environment” going forward.
The SEC is likely gearing up to sue OpenSea, claiming the NFTs sold on the platform are securities, according to a notice sent to the company.
U.S. crude oil pulls back more than 1%, falls below $75 in second day of losses
U.S. crude oil fell more than 1% Wednesday to settle below $75 per barrel...
U.S. crude oil fell more than 1% Wednesday to settle below $75 per barrel as the market continues to shed gains made earlier in the week on the threat of supply disruptions in Libya.
Here are Wednesday’s closing energy prices:
West Texas Intermediate October contract: $74.52 per barrel, down $1.01, or 1.34%. Year to date, U.S. oil has gained 4%.
Brent October contract: $78.65 per barrel, down 90 cents, or 1.13%. Year to date, the global benchmark is ahead 2.1%.
RBOB Gasoline September contract: $2.21 per gallon, down 3 cents, or 1.43%. Year to date, gasoline is up 5.3%.
Natural Gas September contract: $1.93 per thousand cubic feet, up more than 2 cents, or 1.37%. Year to date, gas is down about 23%.
Dow snaps 3-day win streak to fresh record highs, ahead of Nvidia results
U.S. stocks closed lower but off the session's lows...
U.S. stocks closed lower but off the session's lows as investors geared up for earnings results after the bell from artificial intelligence darling Nvidia Corp.
According to FactSet data, the Dow Jones Industrial Average shed 159.08 points, or 0.4%, to end at 41,091.42.
The S&P 500 closed down 33.62 points, or 0.6%, at 5,592.18.
The Nasdaq Composite Index fell 198.79 points, or 1.1%, finishing at 17,556.03.
At Least 9 Killed as Israel Begins Major Military Operation in West Bank
Hundreds of Israeli troops mounted unusually broad overnight raids in...
Hundreds of Israeli troops mounted unusually broad overnight raids in the occupied West Bank, Israeli officials said Wednesday, targeting Palestinian militants after what they called months of rising attacks. At least nine people were killed, and an Israeli military official said the operation was continuing.
The decline in inflation and the expectation of an imminent interest...
The decline in inflation and the expectation of an imminent interest rate cut have Americans feeling better about the economy than they have in a while, according to the latest update of the Conference Board’s consumer confidence index. On the other hand, consumers are worried about the softening labor market. While the unemployment rate remains below historical standards at 4.3%, it has increased for four straight months—likely enough to convince the Fed to cut rates in September.
