Trump to put import taxes on pharmaceutical drugs, kitchen cabinets, furniture and heavy trucks
WASHINGTON (AP) — President Donald Trump is putting import taxes of 100% on pharmaceutical drugs, 50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture and 25% on heavy trucks starting on Oct. 1. Trump said Thursday on his social media site that foreign manufacturers of furniture and cabinetry were flooding the United States with their products and that tariffs must be applied “for National Security and other reasons.” Trump said that foreign-made heavy trucks and parts are hurting domestic producers.
Microsoft reduces Israel's access to cloud and AI products over reports of mass surveillance in Gaza
WASHINGTON (AP) — Microsoft said it has disabled services to a unit within the Israeli military after a company review had determined its artificial intelligence and cloud computing products were being used to help carry out mass surveillance of Palestinians. The action came Thursday after The Associated Press and The Guardian published reports revealing how the Israeli Ministry of Defense had been using Microsoft’s Azure platform to aid in the war in Gaza and occupation of the West Bank.
Canada Post union launches strike as government moves to end most door-to-door mail
OTTAWA, Ontario (AP) — The Canadian Union of Postal Workers went on strike Thursday after the government announced door-to-door mail delivery would end for nearly all households within the next decade. Canada Post said the strike will mean mail and parcels will not be accepted or delivered for the duration of the strike. Procurement Minister Joël Lightbound earlier announced sweeping changes aimed at shoring up Canada Post’s finances. The changes include more community mailboxes and slower delivery times. The union said it was caught off-guard by the changes. CUPW said all of its 55,000 Canada Post members were on strike immediately.
Woman sues Universal Orlando over injuries from same roller coaster in which man died after ride
ORLANDO, Fla. (AP) — A woman has sued Universal Orlando Resort, claiming she was injured on a roller coaster at its newest theme park. Sandi Streets filed the negligence lawsuit Wednesday in Orlando, a week after a man died from injuries on the same ride. Streets says she was invited to Universal's Epic Universe theme park before it officially opened in May. She claims the dual-launch coaster caused her head to shake violently, resulting in permanent injuries. The lawsuit states she has suffered disability and medical expenses. Universal has not responded to request for comment.
Trump signs executive order supporting proposed deal to put TikTok under US ownership
WASHINGTON (AP) — President Donald Trump has signed an executive order declaring that a proposed deal allowing TikTok to continue operating in the United States will be a qualified sale that meets national security concerns laid out by the law. Much is still unknown about the actual arrangement, but Trump said Chinese leader Xi Jinping “gave us the go-ahead” to proceed with the deal. Any major change to the popular video platform could have a huge impact on how Americans — particularly young adults and teenagers — consume information online.
Greenspan, Bernanke and Yellen urge Supreme Court to let Lisa Cook keep her job as a Fed governor
WASHINGTON (AP) — Alan Greenspan, Ben Bernanke, Janet Yellen and other former top economic officials appointed by presidents of both parties are urging the Supreme Court to preserve the Federal Reserve’s political independence and allow Lisa Cook to remain as a central bank governor for now. The filing Thursday comes as the justices are weighing an emergency appeal from the administration to remove Cook while her lawsuit challenging her firing by President Donald Trump proceeds through the courts. The Fed board was designed to be largely independent from day-to-day politics. No president has fired a sitting Fed governor in the agency’s 112-year history.
US economy expanded at a surprising 3.8% pace in significant upgrade of second quarter growth
WASHINGTON (AP) — The U.S. economy expanded at a surprising 3.8% from April through June in a dramatic upgrade of the government's previous estimate of second-quarter growth. The Commerce Department said Thursday that U.S. gross domestic product — the nation’s output of goods and services — rebounded in the spring from a 0.6% first-quarter drop caused by fallout from President Donald Trump’s trade wars. The department had previously estimated second-quarter growth at 3.3%. The first-quarter GDP drop, the first retreat of the U.S. economy in three years, was mainly caused by a surge in imports as businesses hurried to bring in foreign goods before Trump could impose sweeping taxes on them.
Amazon to pay $2.5 billion to settle FTC allegations it duped customers into enrolling in Prime
SEATTLE (AP) — Amazon has reached a historic $2.5 billion settlement with the Federal Trade Commission which said the online giant tricked customers into signing up for its Prime memberships, and made it difficult to cancel after they did so. The Seattle company will pay $1 billion in civil penalties — the largest fine in FTC history, and $1.5 billion will be paid to consumers who were unintentionally enrolled in Prime, or were deterred from canceling their subscriptions.
Starbucks to close hundreds of stores, lay off 900 workers as part of turnaround plan
Starbucks said Thursday it's closing hundreds of stores in the U.S., Canada and Europe and laying off 900 nonretail employees so it can focus resources on its turnaround plan. The Seattle coffee giant wouldn't say exactly how many stores it's closing. But the company expects to end its fiscal year this Sunday with 434 fewer stores in North America than it had at the end of June. Starbucks also said it's closing some stores in the U.K., Austria and Switzerland. Starbucks CEO Brian Niccol said company is closing stores that don't have a path to financial stability or have physical spaces that don't meet customers' expectations.
He's the budget scorekeeper for Congress. Lately, it's been a tough job
WASHINGTON (AP) — The Congressional Budget Office has faced criticism over its analysis of Republicans' big tax breaks and spending cuts bill. Speaker Mike Johnson and House Majority Leader Steve Scalise have denounced the CBO, while President Donald Trump has called the office “very hostile.” CBO Director Phillip Swagel emphasizes in an interview with The Associated Press the agency plays a nonpartisan role in assessing legislation. The CBO recently reported Trump's tariffs could reduce the national deficit by $4 trillion but may cause temporary inflation. Swagel stresses the importance of unbiased analysis to inform Congress and the public. Swagel says the CBO's priority is to make sure its work is accurate.
