Nvidia, bitcoin and other falling stars drag the US stock market lower
NEW YORK (AP) — The U.S. stock market fell as Nvidia and other superstars created by the frenzy around artificial-intelligence technology dimmed some more. The S&P 500 lost 0.9% Monday and pulled further from its all-time high set last month. The Dow Jones Industrial Average dropped 1.2%, and the Nasdaq composite sank 0.8%. Nvidia was again the heaviest weight on the market, as it’s often been in its last couple of tumultuous weeks. Worries are high that its stock price shot too high following a stupendous rise, raising the stakes for its profit report coming Wednesday. Bitcoin dropped below $92,000.
FAA lifts order slashing flights, allowing commercial airlines to resume their regular schedules
Summary: The Federal Aviation Administration says it is lifting all restrictions on commercial flights that were imposed during the government shutdown at 40 major U.S. airports. The agency said Sunday airlines can resume normal flight schedules beginning Monday at 6 a.m. EST. The unprecedented order had been in place since Nov. 7 and affected thousands of flights. The FAA said it was necessary to ease the strain on the aviation system and help manage staffing shortages at its air traffic control facilities during the shutdown. The flight cuts started at 4% as the shutdown entered its second month and later grew to 6% before the FAA on Friday rolled back the restrictions to 3%.
Ford Motor shows off new high-tech HQ. It has a 'crown jewel' showroom and room for 4,000 employees
DEARBORN, Mich. (AP) — Ford Motor Company is showing off its new world headquarters building in Dearborn, Michigan. The new HQ is double the size of its old one with room for twice as many employees. It has seven restaurants, design studios and fabrication shops. And, of course, cars. According to Ford Land’s brand manager, the “crown jewel” of the new building is a massive showroom. Ford gave media tours of the new world headquarters this past week. And it is to be the site of a grand-opening celebration on Sunday. Ford’s current headquarters is known as “The Glass House.” It opened in 1956. The plan is for it to be demolished.
Fed's Cook blasts mortgage fraud allegations against her as 'baseless' in letter to AG Bondi
WASHINGTON (AP) — Lawyers for Federal Reserve Governor Lisa Cook on Monday disputed allegations by a Trump administration official that she committed mortgage fraud, an accusation that President Donald Trump used as a basis for seeking to fire her. It was the first time a president has sought to remove a Fed governor in the central bank’s 112-year history. Cook sued to keep her job, and the Supreme Court ruled last month that she could remain in the position. The letter to Attorney General Pam Bondi is the first comprehensive response to a criminal referral in August by Bill Pulte, director of the Federal Housing Finance Agency.
Novo cuts Wegovy prices, but doctors still see cost challenges for patients
Novo Nordisk is chopping prices again for its popular obesity treatment Wegovy, but doctors say the expense will remain challenging for patients without insurance. The drugmaker said Monday that it has started selling higher doses of the injectable treatment for $349 a month to patients paying the full bill. That’s down from $499 and in line with terms of a drug pricing agreement outlined earlier this month by President Donald Trump’s administration. Novo also has started a temporary price break for the first two months of low doses of Wegovy and the drug’s diabetes counterpart, Ozempic.
Alabama Gov. Kay Ivey urges delay on PBS decision by public TV board
MONTGOMERY, Ala. (AP) — Alabama Gov. Kay Ivey is urging the board that oversees Alabama Public Television to delay a decision to sever ties with PBS. The Republican governor weighed in on the controversy Monday in a letter to members of the Alabama Educational Television Commission. She urged them to study the matter in depth. The letter came a day before a planned meeting Tuesday in which the commission is expected to discuss severing ties with PBS. Ivey said the decision should only be made after surveying voter opinion and developing a plan for what comes next. Some board members have pushed state public television to cut ties to PBS.
New analysis shows more US consumers are falling behind on their utility bills
WASHINGTON (AP) — A new analysis of consumer data shows that more people in the United States are falling behind on their utility bills. Past-due balances jumped 9.7% in the second quarter over the same period last year, according to the Century Foundation, the left-leaning think tank that did the study. The study comes as President Donald Trump has been promoting the buildout of the AI industry — a sector that uses a lot of electricity. And voters have also said they're worried about the high cost of living. The foundation says nearly 6 million households have utility debt “so severe” that it will soon be reported to collection agencies.
Sinclair takes 8% stake in EW Scripps as broadcaster eyes potential acquisition
NEW YORK (AP) — Broadcast giant Sinclair has taken a more than 8% stake in E.W. Scripps, as it eyes a potential merger with the smaller local TV rival. On Monday, Sinclair disclosed the purchase of Scripps’ Class A common stock, while noting that its had monthslong talks with Scripps about a potential acquisition. Scripps acknowledged the stake and said it would evaluate any transaction in shareholders’ best interests. This move comes amid wider consolidation in the U.S. media industry, with rivals like Nexstar and Tegna recently announcing their own $6.2 billion proposed merger. Scripps’ shares soared nearly 40% on Monday, while Sinclair’s rose 4.91%.
Samsung and other South Korean firms pledge larger domestic investments after US tariff deal
SEOUL, South Korea (AP) — Samsung Electronics and other major South Korean companies have announced new domestic investment plans. This comes after a meeting with President Lee Jae Myung, who hopes to counter concerns about prioritizing U.S. investments under a recent trade deal. Samsung plans to invest $310 billion over five years to expand domestic operations, including a new production line at its Pyeongtaek hub. Hyundai Motor Group also plans to invest $86.3 billion from 2026 to 2030 in research and development. SK Group and shipbuilders Hanwha Ocean and HD Hyundai also announced plans to increase domestic investments.
Mike Pompeo becomes adviser to scrutinized Ukraine defense company that's looking to boost missiles
Former U.S. Secretary of State Mike Pompeo has joined the advisory board of Ukraine’s leading defense company, Fire Point. The company is known for its long-range drones that can strike deep inside Russia. Fire Point is expanding by building a new factory in Denmark and plans to double its cruise missile production by next year. However, the company faces scrutiny due to an ongoing corruption investigation. Executives insist they are transparent and have commissioned an independent audit. Despite these challenges, Fire Point reports $1 billion in revenue and continues to grow internationally.
