Sunday, August 4

In The NEWS


US regulators sue TikTok over child privacy violations.

The Justice Department and the Federal Trade Commission filed the challenge against the video-sharing app and its Chinese parent company, ByteDance, Friday. The regulators allege TikTok breached a federal law requiring services to obtain parental consent to collect personal information from children under 13. TikTok has roughly 170 million active US users, while ByteDance faces a legal deadline from the US government to sell TikTok or withdraw from the US market.



Harris secures Democratic nomination for president.

Vice President Kamala Harris made history Friday as the first Black woman and Asian American to become a presidential nominee from a major party in the US. Harris secured a majority of the votes (at least 2,350) needed for the nomination a day after voting opened. She will accept the nomination next week.



Hunter Biden to be sentenced in November for gun conviction.

The younger Biden became the first convicted child of a sitting US president in June when a jury found him guilty of three felony charges related to lying about his drug use in 2018 when purchasing a gun. Hunter Biden will be sentenced Nov. 13 in the gun case and faces a different trial in September for separate tax-related charges.



Intel shares plunge the most in 50 years.

Intel's shares fell 26% Friday, marking the chipmaker's second-largest single-day drop, behind a 31% drop in July 1974. The company's shares were trading at a level last seen in 2013. The decline came a day after Intel announced it would cut 15% of its workforce and pause dividends beginning in the fourth quarter as part of cost-cutting measures.



Chevron to relocate to Texas from California.

America's second-largest oil and gas company is moving its global headquarters from California—its home state for more than 140 years—to Houston, Texas, considered the US energy capital. The announcement comes weeks after Elon Musk said X (formerly Twitter) and SpaceX would move their headquarters from California to Texas and follows a growing trend.



Tropical storm warning issued for parts of Florida.

As of this writing, a developing system in the eastern Gulf of Mexico is expected to turn into Tropical Storm Debby today and drench the west coast of Florida this weekend. Up to a foot of rain is possible in some areas of the state, with flash flooding and heavy rainfall to continue through next week.


SOURCE:  1440 NEWS

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