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☆ Judge rules YouTube, Facebook and Reddit must face lawsuits claiming they helped radicalize a mass shooter
▼ + stars: | 2024-03-19 | by ( Melissa Alonso | ) edition.cnn.com time to read: +2 min

“The Court has determined the complaint sufficiently pleads viable causes of action to go forward at this stage of the litigation,” said Erie County Supreme Court Justice Paula Feroleto. Attorneys for the social media companies named in the lawsuit filed a motion to dismiss saying the companies are akin to message boards containing third-party content, court documents show. “However, plaintiffs contend the defendants’ platforms are more than just message boards,” the court document says. “It is far too early to rule as a matter of law that the actions, or inaction, of the social media/internet defendants through their platforms require dismissal,” said the judge. In a statement to CNN, Reddit said, “Hate and violence have no place on Reddit.

Persons: ”, Paula Feroleto, Payton Gendron, “, Gendron, José Castañeda, Reddit, Olesya Dmitracova Organizations: CNN, 4chan, Meta, YouTube Locations: York, Buffalo , New York, Erie County, Reddit

☆ The latest data signals the Fed will pause next week and keep future rate hikes on the table
▼ + stars: | 2023-09-15 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

That data indicates that the Federal Reserve is still likely to hold rates steady next week, some investors say. Inflation: US inflation climbed 3.7% in August from the prior year, marking an acceleration for the second consecutive month, according to the latest Consumer Price Index. Excluding the boost from gas station sales, retail spending added 0.2% in August from July. Traders see a roughly 97% chance that the central bank keeps rates unchanged in September, according to the CME FedWatch Tool. The central bank has now raised its main interest rate at 10 consecutive meetings, taking it to the highest level since the launch of the euro currency in 1999.

Persons: “, ”, Sam Millette, Price, Taylor Swift, Bill Adams, Jerome Powell, Liz Young, CNN’s Olesya, Michelle Toh ., Read Organizations: CNN Business, Bell, CNN, Federal Reserve, Commonwealth Financial Network, National Federation of Independent Business, Comerica Bank, Traders, European Central Bank, Central Bank, ECB, Cornell University, Schroders, Fashion, Cornell’s Global Labor Institute Locations: Saudi Arabia, Russia, Jackson Hole , Wyoming, Bangladesh, Pakistan, Vietnam, Cambodia, Schroders

☆ Premarket stocks: Does it matter whether the Federal Reserve hikes or pauses rates in September?
▼ + stars: | 2023-08-14 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —After the Federal Reserve raised interest rates in July to the highest level in 22 years, Wall Street’s focus is on whether September will bring another rate hike. But does it really matter whether the Fed raises or pauses rates next month? Before the Bell: Does it matter whether the Fed raises rates in September by another quarter point or holds steady instead? And, that earnings can grow even in an environment where interest rates are back to levels that they have been in for the past couple of decades. Year-over-year comparisons should improve, but I think investors want to see that.

Persons: Bell, Ed Yardeni, they’ve, Moody’s, they’re, We’ve, Fitch, CNN’s Kathleen Magramo, Women Jan Tinetti, Tinetti, Read, CNN’s Olesya Dmitracova, Darren Morgan, ”, Jonathan Moyes Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Employers, Traders, Yardeni, Women, Labour, Organisation for Economic Co, Development, Gross, National Statistics, Wealth Locations: New York, New Zealand

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