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New Twitter policy aims to pierce fog of war misinformation
SAN FRANCISCO (AP) — Twitter is stepping up its fight against misinformation with a new policy cracking down on posts that spread potentially dangerous false stories. The change is part of a broader effort to promote accurate information during times of conflict or crisis. Under the new rules, which take effect Thursday, Twitter will no longer automatically recommend or amplify posts that mischaracterize conditions during a conflict or make misleading claims about war crimes or atrocities. Posts that violate the rules could also have warning labels applied, as well as links to more trustworthy content. Twitter says it will apply the rules first to Ukraine and then to future humanitarian crises.
A bear market may be on the horizon. Here’s what that means
NEW YORK (AP) — Investors on Wall Street need a place to hide. The stock market’s skid this year has pulled the S&P 500 close to what’s known as a bear market. Rising interest rates, high inflation, the war in Ukraine and a slowdown in China’s economy have caused investors to reconsider the prices they’re willing to pay for a wide range of stocks, from high-flying tech companies to traditional automakers. A bear market is a term used by Wall Street when a market index has fallen 20% or more from a recent high. The S&P 500 is now down 18.7% from the record high set on Jan. 3.
Stocks end lower, nearing but not quite in a bear market
NEW YORK (AP) — Stocks ended another volatile day lower on Wall Street Thursday, bringing the market closer to its first bear market since the beginning of the pandemic. The S&P 500, the benchmark for many index funds, fell 0.6%. It's now down 18.7% from the record high it set early this year, nearly at the 20% threshold that defines a bear market. Investors are worrying that the soaring inflation that's hurting people shopping for groceries and filling their cars up is also walloping profits at U.S. companies. Target fell again, a day after losing a quarter of its value on a surprisingly large drop in earnings.
EXPLAINER: ESG investing and the debate surrounding it
NEW YORK (AP) — After starting as a niche corner of the finance world, ESG investing has since exploded to become a major force on Wall Street _ and the latest front in the nation’s cultural schism. To use an ESG approach is to consider a company’s performance on environmental and other measures, before deciding whether to invest in it. The industry says ESG helps make better decisions by highlighting companies that may be riskier than traditional investing guidelines alone would suggest. It could also help find better opportunities. To critics, it’s all just the latest example of the world trying to get woke.
GOP directs culture war fury toward green investing trend
SALT LAKE CITY (AP) — Red state officials are coming out swinging against growing Wall Street efforts to consider environmental risk in investment decisions. Their target is “ESG,” which stands for environmental, social and governance. The principles call on investors to consider factors other than traditional financial metrics in their decisions. The acronym has become the latest culture war fodder in conservative media and in state government this year. The movement against green investing indicates how the GOP has become more willing to damage its relationship with big business to fight ideological foes. Opposition has been particularly strong in red states where fossil fuels make up a large part of the economy.
House passes bill to crack down on gasoline 'price gouging'
WASHINGTON (AP) — A closely divided House has approved legislation to crack down on alleged price gouging by oil companies as prices at the pump continue to soar. A bill backed by House Democrats would give President Joe Biden authority to declare an energy emergency that would make it unlawful to increase gasoline and home energy fuel prices in an “excessive” or exploitative manner. The bill directs the Federal Trade Commission to punish companies that engage in price gouging. The vote Thursday comes as Interior Secretary Deb Haaland said she will release a long-delayed, five-year plan that allows Interior to conduct new offshore oil and gas lease sales.
'Twitter philanthropy' reveals chasms in social safety net
Practically every minute of every hour, someone sends a tweet to Bill Pulte, a 33-year-old private-equity investor and heir to the mammoth PulteGroup homebuilding company. And, nearly every day, Pulte responds. He sent $500 for a man who sent a video showing his missing teeth. He gave $125 for a woman to pay for gas so she could make the long drive to her brother’s funeral. It’s all part of what Pulte calls “Twitter philanthropy” – a concept of direct giving in which Pulte and others offer immediate financial support to a tiny percentage of people who reach out over social media. Philanthropy experts say Pulte’s generosity is laudable, but question whether his approach will produce any long-term results.
Carbon removal technologies to get $3.5B federal investment
NEW YORK (AP) — The federal government is investing in machines that suck giant amounts of carbon dioxide out of the air in the hopes of reducing damage from climate change. The Department of Energy says it will release $3.5 billion to groups developing direct air capture and other technologies that remove carbon dioxide, which when released into the atmosphere causes global warming. Climate scientists say humans have already allowed too much carbon dioxide into the atmosphere to prevent dangerous rises in global temperatures. They say on top of curbing emissions we must also remove carbon dioxide from the air that’s already been released.
Average long-term U.S. mortgage rates edge down to 5.25%
WASHINGTON (AP) — Average long-term U.S. mortgage rates retreated modestly this week, but interest on the key 30-year loan remains at decade-high levels. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate slipped to 5.25% from 5.3% last week. By contrast, the average rate stood at 3% a year ago. Earlier this month, the Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark interest rate by a half-percentage point and signaling more big rate hikes to come. Combined with higher home prices and persistent inflation, securing a home has become fraught with obstacles, especially for first-time buyers.
Canada bans China’s Huawei Technologies from 5G networks
TORONTO (AP) — Canada says wireless carriers in Canada won’t be allowed to install Huawei equipment in their high-speed 5G networks. In announcing the decision Thursday joined the U.S. and other allies that previously banned the giant Chinese technology company. The U.S. government has been lobbying allies for years to exclude Huawei from new ultra-fast 5G mobile networks over worries that China’s Communist rulers could compel the company to help with cyberespionage. The U.S. has warned that it will reconsider intelligence sharing with any countries that use Huawei gear. The company has repeatedly denied the allegations.
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Starbucks says it will pay travel expenses for U.S. employees to access abortion or gender-confirmation procedures if those services aren't available within 100 miles of a worker’s home. The Seattle coffee chain says the benefit will also be available to dependents of employees enrolled in its health care coverage. Starbucks is among the most high-profile companies that have adopted a travel benefit in the wake of a leaked draft opinion from the Supreme Court that would abolish the nationwide right to abortion. Amazon is also covering up to $4,000 in travel and lodging expenses for employees seeking abortions or gender-confirmation procedures.
A massive gas station and travel center spreading across the Southeast from Texas is opening its first location in South Carolina. Buc-ee’s will open its doors in Florence at 6 a.m. Monday and have a ribbon cutting that includes Gov. Henry McMaster and House Speaker Murrell Smith at 10 a.m. The Buc-ee’s at Exit 170 on Interstate 95 will have the same more than 100 gas pumps and massive store that includes food, drinks and merchandise. The stores are known for their Texas barbeque, homemade fudge, kolaches, Beaver Nuggets, jerky and fresh pastries.
Social platforms have learned to remove violent videos of extremist shootings more quickly over the past few years. It’s just not clear they’re moving quickly enough. Police say that when a white gunman killed 10 people and wounded three others Saturday in a “racially motivated violent extremist” shooting in Buffalo, he livestreamed the attack to the gaming platform Twitch. It didn’t stay there long; a Twitch spokesperson said it removed the video in less than two minutes. While that's much faster than the 17 minutes it took Facebook to remove a similar video in 2019, copies of the video continued to circulate online Sunday.
NOON MOST ACTIVE STOCKSNEW YORK (AP) — Noon prices forNYSE listed most active stocks:SalesHighLowLastChgAMCEnt18354512.4511.8412.29+.58AT&…
Final-hour rally yanks Wall Street from maw of bear market
Prime Minister Boris Johnson has renewed British threats to break a Brexit agreement with the European Union. Johnson is blaming the bloc for a political crisis that’s blocking the formation of a new government in Northern Ireland. The Democratic Unionist Party says it will boycott the Belfast government until post-Brexit border checks are scrapped. Johnson held private talks with the leaders of Northern Ireland’s main political parties on Monday, urging them to get back to work. But his public message was aimed at the 27-nation EU, which he accused of refusing to give ground. The U.K. government is expected Tuesday to outline legislation to override parts of its Brexit treaty, a move sure to raise tensions with the EU.
Ukrainian officials say the regiment that doggedly defended a steel mill as Ukraine’s last stronghold in the port city of Mariupol has completed its mission. The declaration came Monday after more than 260 fighters, including some badly wounded, were evacuated and taken to areas under Russia’s control. Ukrainian President Volodymyr Zelenskyy said the evacuation to separatist-controlled territory was done to save the lives of the fighters, who endured weeks of Russian assaults in the maze of underground passages below the hulking Azovstal steelworks. An unknown number of defenders stayed behind to await other rescue efforts. Meanwhile, Sweden joined Finland in deciding to seek NATO membership. The move was another diplomatic setback for Moscow.
His partners tout him as a successful case of rehabilitation and second chances: When he was 20 years old, Harel Hershtik planned and executed a murder. Today, he is the brains behind an Israeli health-tech startup, poised to make millions of dollars with the backing of prominent public figures and deep-pocket investors. But with his company set to go public, Hershtik’s past is coming under new scrutiny, raising questions about whether someone who took a person’s life deserves to rehabilitate his own to such an extent. It also tells an astounding tale of a life derailed and improbably set back on track.
De-Arching: McDonald's to sell Russia business, exit country
Nearly three months have passed since Russia invaded Ukraine. The Russian military faces a bogged-down war, the prospect of a bigger NATO and an opponent buoyed by victories on and off the battlefield. On the diplomatic front, Finland announced Sunday that it would seek NATO membership. Sweden’s governing party also endorsed the idea of applying to join the alliance. Russian President Vladimir Putin has cited NATO’s post-Cold War expansion in Eastern Europe and the prospect of Ukraine joining the alliance among the reasons for the invasion. On the battlefield, Russian forces failed to make significant territorial gains in eastern Ukraine. Western military officials say the Kremlin's campaign in eastern Ukraine has lost momentum.
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