Opening arguments set to begin in Meta's federal trial over child harms
Oakland, Calif. (AP) — A pivotal trial for Meta Platforms is set to kick off in a California federal court. Proceedings are expected to begin Tuesday and last six to eight weeks. Attorneys general from California, Colorado, Kentucky and New Jersey are seeking extensive financial damages plus changes to how the company operates Facebook and Instagram. Twenty-nine states sued the tech giant in 2023 over child safety and privacy. The other 25 will go to trial later. The company also faces lawsuits in state courts. Meta said in a statement that it believes it has a strong case.
Ukraine takes aim at Russia’s economy and morale by attacking online retailer
Day after day over recent weeks, Ukrainian drones have pummeled giant depots belonging to Wildberries, the country’s biggest online retailer, burning estimated billions of dollars’ worth of merchandise and bringing the war home to the broad public. The attacks that hit about 20 depots belonging to Wildberries in a month reflect Ukraine’s ability to strike deep inside Russia and cast a new challenge to President Vladimir Putin nearly 4 ½ years after the start of the full-scale invasion of Ukraine. The strikes have shaken the empire founded by Tatyana Kim, the country’s richest female entrepreneur. Forbes Russia estimated her fortune at $8.1 billion before the strikes began.
Shakira makes surprise visit in earthquake-damaged Colombia and commits to rebuilding schools
BOGOTÁ, Colombia (AP) — Colombian superstar Shakira pledged to help rebuild at least 10 schools in a remote region of her home country after a devastating earthquake struck last week. The quake killed hundreds and affected thousands of educational sites. During a surprise visit to Quibdó, Shakira toured damaged schools and committed her Barefoot Foundation's support. She was joined by philanthropist Howard Buffett, who will collaborate with her foundation on the project. The 7.4 magnitude quake destroyed over 26,000 dwellings and affected more than 265 educational sites in Chocó. Shakira emphasized the importance of rebuilding schools to secure children's futures.
Asia shares decline as worries about rising oil prices outweigh boost from strong earnings
TOKYO (AP) — Asian shares are declining, as rising oil prices and worries about inflation work as a dampener on some markets. Robust corporate earnings reports have instilled some optimism. Benchmarks fell in early Tuesday trading in Tokyo, Seoul, Hong Kong and Shanghai, while they rose in Australia. On Wall Street, stocks slipped further from their record heights Monday, with the S&P 500 falling 0.5%, still near its all-time high set on Thursday. The Dow Jones Industrial Average dipped 0.5%, and the Nasdaq composite sank 0.3%. Wall Street is near records in large part because profits are booming for big U.S. companies.
Avocado pickers in Mexico welcome restart of exports to US, but security fears remain
SANTA ANA ZIROSTO, Mexico (AP) — Authorities have lifted a U.S. security alert that halted avocado exports from Michoacán, Mexico's main avocado-producing state. The alert had left around 200,000 workers in limbo while the military set up increased security measures. By the weekend, orchards and packing plants were back in operation, and U.S. inspectors had returned to certify the fruit. Some workers are relieved to have their wages back, while others fear the calm won't last. The region is plagued by violence and extortion from local cartels. Increased security measures have been deployed, but growers remain cautious, hoping for lasting improvements.
Discord halts livestreams in Brazil after watchdog cites child safety failures
RIO DE JANEIRO (AP) — Discord, the popular platform for gamers to communicate online, said it suspended its livestreams in Brazil. The move Monday takes place in the wake of a suicide case and after a body of the country’s justice ministry accused it of failing to protect for children and adolescents. Discord said in a statement that it is implementing the suspension of livestreams after a decision by Brazil’s national agency of data protection last week and added it is in conversations “to seek a solution that allows us to reestablish those resources for our users in Brazil.”
Berkshire Hathaway boosted stake in Alphabet, homebuilders in the second quarter
Berkshire Hathaway is increasing its stake in Google’s parent company, Alphabet. It is also boosting its holdings in homebuilders. The company also continued to pare its stake in financial companies and a number of other stocks in the April-June quarter. That's according to a regulatory filing filed late Friday. The company agreed in June to invest $10 billion in Alphabet. It expanded its stake to roughly 106 million shares worth about $37.76 billion as of June 30. Berkshire also increased its investments in builder Lennar, Delta Air Lines and Macy’s, while reducing stakes in several financial companies, among others.
Trump dwarfs his predecessors in the number of ultra-rich in his second White House, report shows
The number of people worth more than $100 million whom President Donald Trump has appointed to his administration is more than four times the combined total of the three previous presidents. That's according to a report from the consumer advocacy group Public Citizen. The Republican president is himself a billionaire and has described his inclination toward appointing the ultrawealthy as deference to financial success. In all, 57 Trump officials are worth at least $100 million, including 17 ambassadors and the remaining 40 in senior posts across the executive branch. By comparison, Republican George W. Bush’s administration and Democrat Joe Biden’s each included five members worth $100 million or more. Democrat Barack Obama’s included three.
BBC asks a US court for help in getting testimony from the Trump family in defamation suit
LONDON (AP) — The BBC has asked a U.S. court for help getting documents and testimony from U.S. President Donald Trump's family in connection to his $10 billion defamation lawsuit against the broadcaster. Trump filed the lawsuit in December, accusing the BBC of defamation and deceptive practices. The case centers on a 2024 documentary that allegedly misrepresented a speech Trump gave on Jan. 6, 2021. Lawyers for the BBC argue that Ivanka Trump, Jared Kushner, and Donald Trump Jr. have relevant knowledge of Trump’s intentions in giving the speech. The BBC apologized for the edit but denied defamation. A trial is provisionally set for February.
Japan's economy manages 1.1% growth rate despite headwinds
TOKYO (AP) — Japan’s economy grew an annualized rate of 1.1% in the April-June quarter, even as private consumption stayed flat and the growth of exports declined. The Cabinet Office said Monday that Japan’s real GDP, or gross domestic product, the sum value of nation’s goods and services, grew at a seasonally adjusted 0.3% in the second quarter of this year from the first quarter. The annual, or annualized, rate shows what that rate would have been if it had continued for a whole year. That rate in the January-March period was 2.1%. Private spending dipped 1.2% in April-June compared to January-March, while exports grew 0.5%.
