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For nearly a decade, governments and civil rights groups have increasingly argued that online platforms have created enormous societal costs. Many social media companies have invested heavily in content moderation over the years. In the European Union, officials are looking to hold social media companies accountable for spreading misinformation under the new Digital Services Act. In the UK, the Online Safety Act could take effect as soon as this year, requiring, among other things, social media platforms to remove illegal content. “We’re going to have to look more broadly at social media after this disorder,” UK Prime Minister Keir Starmer said in a video distributed to media Friday.
Persons: “ We’re, Keir Starmer, Jordan, Olesya Dmitracova, Kara Fox Organizations: CNN, stoke, Capitol, European Union, Digital Services, Facebook, United Locations: United Kingdom, unaddressed, Leeds, England, United States
Researchers identified websites that they attributed to the Iranian operation, aimed at voters on the political left and right. The group behind the sites, according to Microsoft, is part of a larger Iranian operation, active since 2020, that operates more than a dozen other fake news sites targeting English-, French-, Spanish- and Arabic-speaking audiences. But researchers say the sites could be used closer to the election. Iran has neither the intention nor plans to launch cyber attacks. The U.S. presidential election is an internal matter in which Iran does not interfere."
Persons: Donald Trump, Kamala Harris Organizations: Microsoft, International League for Women's, Analysis Center, Islamic Revolutionary Guard Corps, Iran's United Nations, Associated Press, U.S, Trump Locations: Iran, Russia, China, Savannah, U.S
Meanwhile, the Federal Reserve is eyeing a potential interest rate cut in September. JPMorgan CEO Jamie Dimon thinks those two events aren't as significant as many think. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy .
Persons: Jamie Dimon, , CNBC's Organizations: Federal, JPMorgan, Service, Federal Reserve, Bank of, Business
What does the Olympics controversy over Algerian boxer Imane Khelif have to do with J.K. Rowling’s home wallpaper? A representative for Rowling declined to comment on her wallpaper and the backlash to her posts about Khelif. LGBTQ people and groups like GLAAD have condemned Rowling’s views, calling them transphobic, and “Harry Potter” actor Daniel Radcliffe spoke out against her in 2020. Some of Rowling’s defenders responded to the mold posts, suggesting that what people online claim is mold is actually wallpaper. Google search interest in “jk rowling mold” has also skyrocketed since then, with breakout search queries like “jk rowling black mold meme” in Canada, the U.S., the U.K. and Australia.
Persons: Imane Khelif, , , ” Khelif, Rowling, ” “, , Harry Potter, Daniel Radcliffe, X, Harry Potter ”, Rowling’s, JD Vance, “ jk rowling Organizations: International Olympics, IOC, ” “ Jk, GLAAD, Locations: British, Russian, Canada, U.S, Australia
London CNN —Far-right riots swept Britain over the weekend, with outbreaks of anti-immigrant violence in a number of cities and towns, leaving the new UK government scrambling to control the worst disorder in more than a decade. Throughout Friday, Saturday and Sunday, violent protesters congregated in city and town centers across the UK, many of them apparently intent on clashing with police and causing havoc. The gatherings ostensibly started as anti-immigration marches, organized on social media platforms like X and on WhatsApp and Telegram groups. Violence also took place in Sunderland, Middlesbrough, Stoke-on-Trent and several more cities, mostly across the Midlands and north of England. The man in charge of bringing those offenders to justice was Keir Starmer, then Britain’s Director of Public Prosecutions.
Persons: Keir Starmer, , , Constable Lindsey Butterfield, Owen Humphreys, we’ve, ” Starmer, Christopher Furlong, Nigel Farage, Priti Patel, Diane Abbott, Britain’s, Elon, Tommy Robinson, Joe Mulhall, Robinson, Peter Powell, Musk, , Starmer, underfunding Organizations: London CNN, Labour Party, Protesters, Rotherham, South Yorkshire Police, Middlesbrough, Stoke, Trent, Office, National Police Chiefs ’ Council, , Downing, Police, . Police, Reform, Conservative Party, Farage, Conservative, CNN, Getty, Public Prosecutions, British Ministry of Justice, State, Justice, PA Media Locations: Britain, Southport, England, WhatsApp, Rotherham, Tamworth, Midlands, Middlesbrough, Sunderland, United Kingdom, Manchester, AFP, , British, London, gridlock, Wales, Afghanistan
Elsewhere, bricks were thrown at police officers in Stoke-on-Trent in central England while scuffles have also been reported in Belfast, Manchester and Nottingham. James Speakman / PA via APThe violence erupted earlier this week, ostensibly in protest of Monday’s stabbing attack in Southport. False rumors spread online that the young man was a Muslim and an immigrant, fueling anger among far-right supporters. “During the course of the evening, our officers were met with serious and sustained levels of violence,” he said. Starmer has blamed the violence on “far-right hatred” and vowed to end the mayhem.
Persons: , scuffles, Keir Starmer, James Speakman, Andrew Menary, Axel Rudakubana, Mark Hall, , , Taylor Swift, Alice Dasilva Aguiar, Elsie Dot Stancombe, Bebe King, Starmer, Yvette Cooper Organizations: Police, Merseyside Police, , Humberside Police, Somerset Police, Trent, Blackpool, Palestinian, Labour, Northumbria Police, ” Police Locations: Liverpool, Southport, England, Hull, Bristol, Avon, Stoke, Belfast, Manchester, Nottingham, London, Gaza, Sunderland, Wales, Rwandan, Northumbria, , Southport —
While loath to criticize any specific swap, current and former U.S. officials worry that strongmen like President Vladimir V. Putin of Russia are exploiting America’s willingness to horse-trade for its citizens. “I worry about the incentive this gives nations to abduct Americans,” said Adam Hickey, a former deputy assistant attorney general in the national security division of the U.S. Justice Department. Speaking of the trend toward hostage trades generally, he added: “I don’t see how this doesn’t lead to an escalation or increase” in the practice by foreign governments. But practical alternatives are hard to come by, Mr. Hickey and other experts concede. In response to Thursday’s deal, former President Donald J. Trump suggested that President Biden had set a “bad precedent” by paying too high a price to Mr. Putin.
Persons: , loath, Vladimir V, Putin, gunning, , Adam Hickey, Hickey, Donald J, Trump, Biden Organizations: U.S . Justice Locations: Russia, Moscow, Russian, Germany, Berlin
AdvertisementBig tech companies are forecast to spend $1 trillion on data centers, real estate, chips and other gear to build AI models, tools and products. AdvertisementSome big tech companies have already whittled away a large chunk of their cash reserves chasing this AI trend. For more than a year, the assumption has been that generative AI will stoke a massive wave of new demand. What if that demand turns out to be weaker than expected? A major piece of evidence he shared was about demand for Microsoft's 365 Copilot service.
Persons: , Ashley Stewart, I've, Ashley, Keith Weiss, Morgan Stanley, Weiss, Andy Jassy, Sundar Pichai, Satya Nadella, BI's Ashley Stewart, Nadella Organizations: Service, Business, pharma, Big, Microsoft, stoke, Amazon, Google, CIO
In his Sunday column , Jim Cramer wrote that these earnings reports will test that rotation narrative. Another way to help "take the sting away" is management teams providing a rationale behind the spending, Jim also wrote Sunday. Alphabet's second-quarter capex of $13.2 billion was up 91% year over year and higher sequentially from $12 billion in the first quarter. Alphabet's full-year capex spending is expected to total nearly $50 billion, according to estimates compiled by FactSet. Investors fretting about AI spending is not entirely new.
Persons: , Jim Cramer, Jeff Marks, Jim, Alphabet's, Sundar Pichai, FactSet, Apple, Meta's, Goldman Sachs, Jim Covello, Covello, Jim Cramer's Organizations: Big Tech, Microsoft, Apple, KeyBanc, Markets, Google, Meta, stoke, Wall Street, Wedbush Securities, CNBC, Bloomberg, Getty Locations: capex
On Friday, the Russian central bank warned — yet again — of an overheating economy when it hiked rates from 16% to 18% in an attempt to rein in price gains. This suggests that overheating in the economy has remained considerable," said Elvira Nabiullina, Russia's central bank governor, on Friday during her rate hike announcement. Russians are traveling and spending on culture and hotelsThe rate hike from Russia's central bank comes amid a spending boom in the country where many appear to be spending very freely, even amid the war and Western sanctions, as the Financial Times reported on Friday. Russia's central bank may hike rates again if necessaryNabiullina said on Friday that Russia's GDP will grow 3.5% to 4% this year from a year ago. The central bank next meets on September 13.
Persons: , Elvira Nabiullina, they're, Sergei Ishkov, Sawicki, Nabiullina, it's Organizations: Service, Business, Financial Times, Labour Locations: Russia, Russian, Russia's, Ukraine, Moscow, stoke
Three famed "Big Short" investors say gold remains a top long-term bet. Danny Moses, Porter Collins, and Vincent Daniel went on CNBC to explain why they're bullish. They cite rising debt levels, which they say could result in a "huge debasement" of the dollar. AdvertisementInvestors should be scooping up more gold for the long haul, according to three investors of "Big Short" fame. Collins and Daniel — the co-founders of Seawolf Capital — said they remained long on gold, gold miners, and precious metals like silver in their annual letter to shareholders.
Persons: Danny Moses, Porter Collins, Vincent Daniel, , Vincent Daniel —, Collins, Daniel, Daniel —, Moses, Gold, we've Organizations: CNBC, Service, Treasury, stoke, Seawolf, Moses Ventures Locations: US
CNN —Iran is using covert social media activity and related influence operations in an effort to undercut the candidacy of former President Donald Trump, a US intelligence official said Monday in an updated assessment of threats to the November election. Iran’s preference for a US presidential candidate has not changed since 2020, the ODNI official said. In the 2020 election campaign, Iran “carried out a multi-pronged covert influence campaign intended to undercut former President Trump’s reelection prospects,” according to a declassified US intelligence report. The Russian government regularly denies US allegations of election influence. China “probably does not plan to influence the outcome” of the US presidential election, but US intelligence is monitoring the possibility that China-linked propagandists and influence actors could “denigrate down-ballot candidates,” the updated assessment says.
Persons: Donald Trump, ODNI, Iran “, Trump’s, haven’t, Joe Biden, , Trump, Qasem Soleimani, Thomas Matthew Crooks, of National Intelligence Avril Haines, ” ODNI, China “, Xi Jinping, Biden Organizations: CNN, National Intelligence, Trump, United Nations, Service, stoke, of National Intelligence, Russian Embassy Locations: Iran, Tehran, United States, Moscow, U.S, Iranian, Pennsylvania, Israel, Gaza, Russia, Russian, Washington ,, China
Nearly two weeks after the assassination attempt on former President Donald J. Trump, there’s still no official report from the Trump campaign or from state or federal governments about what caused the wound on his right ear. This lack of clarity has left the issue unsettled and fueled speculation online about whether he was hit by a bullet or shrapnel — or perhaps something else. But a detailed analysis of bullet trajectories, footage, photos and audio by The New York Times strongly suggests Mr. Trump was grazed by the first of eight bullets fired by the gunman, Thomas Crooks. Subsequent bullets wounded two rally goers and killed a third. What has helped stoke confusion is that Mr. Trump himself has said he was hit by a bullet, but his campaign has not released any official medical reports, nor has Mr. Trump’s current physician weighed in.
Persons: Donald J, Trump, there’s, Thomas Crooks, Trump’s Organizations: The New York Times, stoke
As that happens, the Federal Reserve is preparing to cut interest rates. A huge burst of infrastructure spending under the Biden administration has taken time to ramp up, but projects both small and large are likely to break ground in earnest in 2025 and 2026. One clear answer: It won’t be the person who shepherded some of the policies that are laying the positive groundwork. President Biden announced on Sunday that he was ending his candidacy for re-election, passing the Democratic baton to Vice President Kamala Harris. White House officials play a relatively minor role in slowing inflation and exert no direct control over interest rates.
Persons: Biden, Kamala Harris, Mr, Biden isn’t Organizations: Federal Reserve, Democratic, Semiconductor Locations: U.S, stoke
CNN —In his speech to Congress on Wednesday, Israeli Prime Minister Benjamin Netanyahu struck a defiant tone, pledging to carry on with the war in Gaza until Israeli hostages are released and Hamas is eliminated. He defended Israel’s actions, pushing back against criticism that the war has gone on for too long and resulted in too many civilian casualties. The incident Netanyahu appeared to refer to occurred in May and killed at least 45 people at a camp for displaced Palestinians. Israeli officials have been making the claim that Hamas was stealing aid since October. UN Humanitarian Coordinator Lynn Hastings told CNN then that Hamas wasn’t stealing aid because aid wasn’t coming in.
Persons: CNN —, Benjamin Netanyahu, Netanyahu, Israel, , Jonathan Conricus, Seth Moulton, ” Conricus, , National Intelligence Avril Haines, Haines, Yoav Gallant, Samantha Power, it’s, Lynn Hastings, wasn’t, David Satterfield, Biden, Matthew Miller Organizations: CNN, Gaza, Gaza Health Ministry, UN, House Armed Services Committee, Gaza’s Ministry, Health, Palestinian Ministry, National Intelligence, stoke, USAID, Rights Watch, Israeli, US State Department Locations: Gaza, Rafah, Palestinian, Israel, Iraq, Iran, America, Tehran, Gazans, Jordan
By age 13, Neeraj Chopra weighed nearly 190 pounds, making him one of the biggest boys in his tiny farming village. By chance, he saw a javelin being thrown and noticed that, in flight, it seemed to shimmy like a fish through water. A decade after that improbable beginning, Chopra won the javelin competition at the Tokyo Olympics in 2021. It was the first gold medal ever won by India in track and field, considered the marquee sport of the Summer Games, and only the country’s second in an individual event in more than a century of Olympic competition. Chopra’s triumph inspired athletes across India, the world’s most populous nation.
Persons: Neeraj Chopra, Chopra Organizations: Tokyo, India, Summer, stoke, Games Locations: India
He's steering clear of Big Tech stocks, and for now he's only bullish on "dull, boring, and predictable" names. Tech stocks now account for highest portion of the S&P 500 since the early 2000s, according to an analysis from Société Générale. AdvertisementAnother risk to stocks lies in interest rates, Blain said, as borrowing costs look poised to stay higher for longer. "There is an awful lot of people in the financial markets who just don't understand that zero interest rates and ultra-low interest rates are not normal," Blain added. AdvertisementThe final risk Blain is eyeing is the upcoming presidential election, which contains a handful of uncertainties that could batter stocks, Blain said.
Persons: Bill Blain, Blain isn't, , that's, Blain, Biden, he's, Générale, John Hussman, I've, eyeing, We've, Morgan Stanley, Stifel, Richard Bernstein Organizations: Big Tech, Service, China, Nasdaq, Tech, stoke, Richard Bernstein Advisors
Maskot | Maskot | Getty ImagesBuying a new electric vehicle isn't the only way consumers can access a $7,500 federal EV tax credit. Perhaps the best known of them — the "new clean vehicle" tax credit — is a $7,500 tax break for consumers who buy a new EV. But many auto dealers are also passing along a $7,500 tax break to lessees, via a different (and, experts say, lesser-known) mechanism called the "qualified commercial clean vehicles" tax credit. This EV tax credit "leasing loophole" has likely been a key driver of increased leasing uptake in 2024, Barclays auto analysts said in an equity research note published in June. The $7,500 tax credit enables dealers to charge low monthly payments for leases, thereby helping "stoke demand" for EVs, Barclays wrote.
Persons: Joe Biden, , Dealers aren't, Ingrid Malmgren, Hyundai Kia, Brian Moody, Autotrader, Moody, Malmgren Organizations: Maskot, Barclays, U.S . Treasury Department, Plug, stoke, EVs, Foreign, Toyota, Hyundai, EV, Consumers Locations: U.S, Asian, North America
Bank of America thinks Broadcom can continue to cash in on the artificial intelligence boom, with the company showing "no signs of slowing down." Broadcom stock has advanced nearly 54% in 2024, as the company emerged as one of the key beneficiaries of the rise of AI outside of Nvidia . A 10-for-1 stock split it recently announced took effect on Monday. AVGO YTD mountain Broadcom stock. The mix of this customer base will help stoke and maintain future demand, Arya noted.
Persons: Vivek Arya, Arya, Hock Tan, Tan, AVGO Organizations: of America, Broadcom, Nvidia, Google, stoke
The US needs to ease business regulation to escape rising deficit trend, Larry Fink said. He told CNBC that Washington's "massive, massive spends" are unaffordable. AdvertisementThe US can't hope to escape its rising debt problem if the private sector is overburdened by regulatory red tape, Larry Fink said on CNBC. "And we're going to be really putting on the backs of our children, our grandchildren, a real burden of these massive, massive spends that we can't afford." With the election less than four months away, neither candidate has so far offered a solution to the rising deficit, and observers see both candidates adding to it over the next four years.
Persons: Larry Fink, , Fink, Donald Trump, Joe Biden, Biden, Trump Organizations: CNBC, Service, BlackRock, Treasury Department, Congressional, Trump, House
Read previewThe US economy will keep growing and ultimately avoid a recession thanks to artificial intelligence, immigration, and rich people. "The risks are growing that the stubborn Fed gradually then suddenly puts the economy in recession," he said. "But the economy may narrowly escape the dreaded recession outcome for these three reasons." 'Immigration delivers surprising economic benefits'Americans can thank immigrants for the continued progress in battling inflation, according to Arone. Arone also notes that the increase in immigrants can have a compounding impact on the US economy overtime.
Persons: , Michael Arone, Arone Organizations: Service, State Street, Federal Reserve, Business, Fed, stoke, Research Partners
CNN —Iran is attempting to covertly stoke protests in the United States related to the conflict in Gaza, US Director of National Intelligence Avril Haines said in a statement on Tuesday, posing as activists online and, in some cases, providing financial support to protesters. “I want to be clear that I know Americans who participate in protests are, in good faith, expressing their views on the conflict in Gaza — this intelligence does not indicate otherwise,” Haines said. “Americans who are being targeted by this Iranian campaign may not be aware that they are interacting with or receiving support from a foreign government,” she said. Those protests have been hugely divisive domestically, making them a ripe target for foreign actors — like Iran — interested in amplifying discord within the US. A US intelligence assessment released in December reported that Iran also tried to meddle in the 2022 midterm elections.
Persons: of National Intelligence Avril Haines, ” Haines, , , , Haines Organizations: CNN, stoke, of National Intelligence, Hamas Locations: Iran, United States, Gaza, Israel, Tehran
Lockdown was a grill (seller)’s best friendIt’s not a result of Americans cooking outside on grills less. Roy Morchian, owner of American Royal Hardware in Montclair, New Jersey, says grill sales have returned to pre-pandemic levels at the local True Value franchise. Downey sees Home Depot’s grill sales stabilizing now following the lockdown-driven high. Weber Grills are offered for sale at a home improvement store on July 23, 2021 in Palatine, Illinois. Traeger Grills holds demos and activations at Home Depot, Ace Hardware, and specialty retailers across the country.
Persons: Weber, , Brian Bushfield, It’s, Roy Morchian, Paul Glader, Joe Downey, Jessica Hernandez, ” Corey Martin, Traeger’s, Covid, ” Martin, Downey, Scott Olson, Jeremy Andrus, Simeon Siegel, they’re, , Price, Shikhiu Ing, fryer, Andrus, Ayla Dunkley, Dunkley Organizations: CNN, West, Barbecue Association, American, Hardware, Depot Senior Merchant, CNN San Diego Grill, Texas, Grill, Downey, Getty, Weber, Rewards, Depot, BMO Capital Markets, US Department of Agriculture, , , American Farm Bureau Federation Locations: Traqline, San Diego , California, Covid, Montclair , New Jersey, Montclair , NJ, Houston, Palatine , Illinois, Bloomfield , New Jersey, Newark , New Jersey, Pennsylvania
London CNN —President Joe Biden had a shaky performance in last night’s presidential debate, triggering panic in the Democrat camp. Former President Donald Trump, meanwhile, repeated multiple falsehoods while doubling down on his record of cutting taxes and hiking tariffs during his first presidential term. If repeated in a second Trump term, many economists fear that kind of agenda could stoke inflation at a critical moment and add to America’s rapidly growing debt mountain. That could pull the typical year-end election relief rally forward, said Ed Clissold, chief US strategist at Ned Davis Research. The US dollar has also been reactive — it edged higher as initial CNN polling found that Trump was viewed as the winner of the debate.
Persons: Joe Biden, Donald Trump, shrugged, , Keith Lerner, Barack Obama, Trump, Lerner, Ed Clissold, Ned Davis, Antonio Ernesto Di Giacomo, , Goldman Sachs ’ Scott Rubner, Jonas Goltermann, Emmanuel Macron, Katie Nixon, France’s, CDK, Ramishah Maruf, Eva Rothenberg, aren’t, they’ve, Scott Campbell, CNN they’ve, Jordan Valinsky, Tim Wentworth Organizations: London CNN, Democrat, Trump, , Biden, Ned, Ned Davis Research, Investors, Capital Economics, CNN, Renaissance, Northern Trust Wealth Management, CAC, CDK, Auto, Capital City Buick GMC, Bloomberg, Walgreens Locations: France, , North America, United States, Canada, Berlin , Vermont, Eastern Europe, America
“He was the one with the super predators,” Mr. Trump said of Mr. Biden. A New York Times/Siena College poll of battleground states in May showed 23 percent of Black voters supporting Mr. Trump, a record level. In Detroit, Mr. Trump highlighted the funding bill that he signed for Black higher education institutions, which Congress passed. At the church, Mr. Trump stuck to the themes that have animated his outreach to Black voters. He again tried to seize on pessimism over the economy by blaming Mr. Biden for inflation and high rents.
Persons: Donald J, Trump, Abraham Lincoln, Mr, Biden, Brittany Greeson, , ” Mr, Trump’s, Angelo Brown, Brown, repurposing, Amber Rose, , Charlie Kirk, ” Jasmine Harris, Biden’s, ” Ms, Harris, Ronny Jackson, “ Ronny Johnson, Volodymyr Zelensky, that’s, ” Simon J, Levien Organizations: Black, Control, The New York Times, New York Times, Siena College, Trump, Mr, Kodak, Black Republicans Locations: Detroit, U.S, Ukraine, United States, Atlanta, Michigan, stoke, Hell,
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