Texas Governor Greg Abbott has paused all new power grid connections for data centers until more detailed information about their impact is provided. This action comes as Texas faces an overwhelming number of requests from data centers seeking to connect to the state’s electric grid, raising concerns about the grid’s future stability and resource use.
Key Facts
Texas is a leading state for data center development due to cheap land, energy, and tax incentives.
The state’s power grid operator, ERCOT, manages a separate grid serving most of Texas.
Over 1,800 projects seek to connect to the Texas grid, requesting over 474 gigawatts, which is more than five times the state’s peak electricity use.
About 90% of these requests come from data centers.
Governor Abbott ordered a review and audit of data center projects to assess their power use, ownership, and dependence on state financial help.
The potential surge in electricity demand may double Texas’s current record by 2032.
Data centers receive over $1 billion in tax breaks yearly in Texas, affecting state revenue.
There are concerns about water use by data centers and power plants amid drought and local water shortages.
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SpaceX reported a loss of $541 million and revenue of $7.8 billion in its first quarterly earnings report since going public. The company’s shares have dropped nearly 50% since its IPO, and investors are watching for signs of revenue growth, especially from its Starlink satellite business and future projects like Starship rockets.
Key Facts
SpaceX posted a $541 million loss in the second quarter with $7.8 billion in revenue.
The company’s revenue beat analyst forecasts, which expected $6.8 billion.
Since its June IPO, SpaceX’s stock value fell almost 50% from its high point.
SpaceX’s CEO is Elon Musk, who became the world’s first paper trillionaire after the IPO.
In 2023, SpaceX generated $18.7 billion in revenue but had a net loss of $4.9 billion.
Starlink satellite service is the largest revenue segment, with expected Q2 revenue of $3.8 billion.
Musk plans to answer investor questions in a conference call about SpaceX’s projects and future plans.
SpaceX aims to land its Starship rocket on the moon by 2028 but has not yet sent Starship into Earth orbit.
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Chipotle removed jalapenos from its restaurants because they were linked to a salmonella outbreak in Minnesota. The Minnesota Department of Health found 110 cases connected to the outbreak, with most infected people having eaten at Chipotle between June 14 and July 14.
Key Facts
Chipotle pulled jalapenos linked to a salmonella outbreak from its restaurants.
The jalapenos were replaced with peppers from different growers.
The Minnesota Department of Health identified 110 salmonella cases related to the outbreak.
75 of 84 people interviewed who got sick had eaten at Chipotle.
The outbreak affected people mainly between June 24 and July 2.
Salmonella causes symptoms like diarrhea, fever, and stomach cramps.
Chipotle’s stock price dropped 8.8% after the announcement.
Public concerns about food safety have impacted visits to some restaurants recently.
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Chipotle has stopped using jalapeños in some of its restaurants because health officials are investigating a salmonella outbreak. The Minnesota health department is looking into the outbreak, which includes cases linked to Chipotle and other Mexican-style restaurants, with about 110 confirmed cases in Minnesota.
Key Facts
Chipotle removed jalapeños from some locations as a safety warning.
The company replaced the peppers with new ones from different growers.
The Minnesota Department of Health is investigating a salmonella outbreak linked to jalapeños.
There are 110 confirmed salmonella cases in Minnesota connected to several quick-service Mexican restaurants.
Most interviewed patients ate at Chipotle between mid-June and mid-July.
Officials say other restaurants may also be serving contaminated food.
The Food and Drug Administration is helping trace the source of the outbreak.
Chipotle’s stock price dropped by more than 9% after the news.
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A bankruptcy court in Vermont will allow people who say they were abused by clergy to sue for local church assets as part of the Vermont Roman Catholic Diocese’s financial restructuring. The court’s decision means these claimants can ask for control of parish properties to help pay settlement claims.
Key Facts
The Vermont Roman Catholic Diocese is reorganizing its finances under Chapter 11 bankruptcy protection.
The diocese has paid $34.5 million to settle 67 clergy abuse lawsuits and faces 119 more claims.
Clergy abuse claimants want to include parish assets valued up to $500 million in the bankruptcy funds.
A judge ruled claimants can sue for parish assets, including local properties placed in trusts since 2006.
The diocese opposes using parish assets and has spent $2 million on legal fees fighting this.
The debtors and claimants may negotiate in closed-door mediation or continue litigation.
The diocese’s financial holdings dropped to about $35 million after previous abuse settlements.
The court has not yet decided on future steps or a schedule for the lawsuits involving these assets.
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Paramount Skydance chief David Ellison spoke publicly for the first time about his company’s $110 billion plan to merge with Warner Bros. Discovery. He argued that the merger would not harm news independence or create too much market control, and noted that legal challenges have paused the deal in the US.
Key Facts
David Ellison is the chief executive of Paramount Skydance.
The proposed merger with Warner Bros. Discovery is valued at $110 billion.
Ellison wrote an opinion piece defending the merger against critics.
He said the combined company would have less than 20% of US TV viewing share, less when counting YouTube.
Ellison promised the merged company would keep news outlets like CBS and CNN non-partisan.
The merger plans include producing 30 theatrical films and 170 TV series each year with over $30 billion invested annually.
Legal challenges from 12 state attorneys general and the Writers Guild of America have paused the merger in the US.
The US Department of Justice and the European Union have approved the merger, but the trial in the US is postponed to March 2027.
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SpaceX will report its first quarterly earnings as a public company, after going public with a $2 trillion valuation in June. Since the initial public offering (IPO), SpaceX shares have dropped about 24%, and investors are watching closely to see if the company can make a profit.
Key Facts
SpaceX went public in June with the largest IPO ever, valuing the company at $2 trillion.
Since the IPO, SpaceX’s stock price has fallen 24%, losing nearly $500 billion in market value.
Analysts expect SpaceX to report $6.93 billion in revenue and a loss of 26 cents per share for the quarter.
SpaceX includes several businesses: the rocket company, the internet provider Starlink, the AI platform xAI, and the social media company X.
In the past year, SpaceX earned $18.7 billion in revenue but had an operating loss of $4.3 billion.
Starlink is the only part of SpaceX currently making a profit.
Upcoming unlock of 912 million shares, more than double the current shares available, could put more pressure on the stock price.
The earnings report is important for investors deciding the stock’s future direction.
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The U.S. stock market rose sharply, led by strong company profits and hopes for a deal to reopen the Strait of Hormuz near Iran. The Dow Jones gained over 1,000 points while major indexes like the S&P 500 and Nasdaq also advanced, driven by better-than-expected earnings reports and positive news on easing Middle East tensions.
Key Facts
The Dow Jones Industrial Average rose 1,007 points, or 1.9%, while the S&P 500 increased by 1.9% and the Nasdaq by 2.6%.
Treasury Secretary Scott Bessent said a deal to reopen the Strait of Hormuz could be reached within days, raising hopes for more stable oil shipments.
Companies like Caterpillar and Palantir Technologies posted strong second-quarter earnings that beat analysts' expectations.
Palantir’s revenue jumped 93%, and the company raised its revenue forecast for 2026.
Caterpillar hit a quarterly sales record of over $20 billion and saw strong orders across its business.
Oil prices dropped nearly 5% after recent high volatility over Middle East tensions eased.
The U.S. job market remains healthy, with steady hiring and modest layoffs reported in the latest government survey.
Investors are encouraged by signs that corporate profits and stock prices are aligning, contributing to the market’s recent gains.
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The US economy grew more slowly than expected recently. This slowdown is not due to less spending by Americans but relates to how growth is measured and the country's big focus on artificial intelligence investments.
Key Facts
The US economy's growth rate was lower than many experts predicted.
Americans continued to spend money, so consumer spending did not cause the slowdown.
Economic growth is measured by certain official calculations that may not fully capture some areas of progress.
The US is investing heavily in artificial intelligence (AI), which plays a role in how growth appears in reports.
Changes in technology and new types of investments can affect economic statistics differently than traditional ones.
Experts are examining these factors to better understand the economy’s true health.
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Chipotle removed jalapeños from some restaurants after identifying the peppers as a possible cause of a salmonella outbreak. The company replaced these jalapeños with ones from other growers and is working with health officials investigating the problem.
Key Facts
Chipotle found jalapeños from one lot could be linked to a salmonella outbreak.
The company stopped using those jalapeños and switched to different suppliers.
Chipotle is cooperating with public health authorities investigating the outbreak.
The salmonella outbreak has sickened at least 110 people in Minnesota.
Chipotle’s shares dropped 7% in stock trading after the news.
A separate outbreak of cyclosporiasis, another illness, has affected over 6,700 people in nine states.
The cyclosporiasis outbreak was linked to iceberg lettuce from Taylor Farms in Mexico.
Authorities continue to investigate other possible sources for the cyclosporiasis outbreak.
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Chipotle Mexican Grill says it may be linked to a Salmonella outbreak being investigated by health officials. The company identified jalapeños from one supply batch as a possible cause and has removed them from some restaurants while working with investigators.
Key Facts
Public health officials are investigating a Salmonella outbreak involving several food service retailers.
Chipotle found a possible connection to jalapeños from a specific supply lot using its ingredient tracking system.
The company has taken out the suspect jalapeños and replaced them at affected locations.
Salmonella is a bacteria causing food poisoning, with symptoms like diarrhea, fever, and stomach cramps.
Most people recover within a week, but the illness can be serious for children, elderly, pregnant people, and those with weak immune systems.
Chipotle has had past outbreaks involving E. coli, norovirus, and Salmonella, leading to stronger food safety steps.
The current Salmonella case is unrelated to Cyclospora outbreaks, which are caused by a parasite and require different treatments.
Chipotle’s ingredient traceability system helped quickly identify the suspect jalapeños after the outbreak investigation began.
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Tesla's factory in Shanghai made a record number of cars in June, but sales in China have been falling for over a year. More than half of the cars made in China are now being sent to other countries. Tesla is also working to rely less on China for parts and cars sold in the US due to new rules and business goals.
Key Facts
Tesla built 93,579 cars in Shanghai in June, a 38% increase from June 2025.
Despite high production, Tesla's sales in China have dropped for more than a year.
Almost 40% of Tesla's cars made in China in June were shipped to other countries.
In the second quarter, just over 50% of Tesla’s China-made cars were sold outside China.
Tesla benefits from low labor costs and cheaper parts in China, along with export tax rebates.
New US rules ban car software linked to China starting in 2027, and hardware linked to China starting in 2030.
Tesla stopped importing cars made in China for the US market and is securing North American parts without Chinese ties.
Tesla may merge with SpaceX to gain investors, but government rules and national security concerns could block it.
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Ukraine’s armed forces have struck several warehouses of Wildberries, a major Russian online retailer, damaging about 10 percent of its logistics space. Newsweek analyzed what a similar 10 percent loss of warehouse space would mean for Amazon in the U.S., suggesting it could delay or cancel millions of daily deliveries, especially in large cities.
Key Facts
Ukrainian forces targeted Wildberries warehouses near Moscow, St. Petersburg, and Tver.
About 5.9 million square feet of Wildberries warehouse space (10% of its logistics capacity) was damaged.
Around 8 percent of Wildberries’ warehouse space was made completely unusable.
Amazon has roughly 445 million square feet of warehouse and logistics space in the U.S.
Losing 10 percent of Amazon’s space would mean about 44.5 million square feet offline, an area bigger than Central Park.
Damage to major warehouse hubs in large cities would affect more deliveries and customers.
Amazon uses a decentralized network covering eight U.S. regions to reduce disruption risks.
If 10 percent of Amazon’s key warehouses were damaged, about 2.2 million daily Prime deliveries could be delayed or canceled.
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Southwest Airlines will launch a new Business Priority program in early 2027 to offer special travel benefits for corporate travelers. The airline is also adopting new technology to make it easier for businesses to book and manage Southwest flights, aiming to compete better with larger airlines.
Key Facts
Southwest Airlines is updating its business travel services as part of a big change in its business model.
The new Business Priority program will provide perks like priority rebooking, standby benefits, faster boarding, and extra travel-day support.
The program is only for companies with approved business agreements with Southwest.
Southwest will use New Distribution Capability (NDC) technology to let businesses book flights through more travel management systems.
These changes aim to attract more business travelers and higher-spending corporate accounts.
Southwest has introduced other recent upgrades like assigned seating, more legroom seats, and Wi-Fi.
The airline’s goal is to narrow the gap with bigger competitors like United, Delta, and American Airlines.
Specific rules about which companies qualify for Business Priority have not yet been announced.
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Big oil companies are making very large profits as fighting in Iran causes oil and gasoline prices to rise. The conflict has increased fuel costs worldwide, affecting consumers and businesses, especially in Asia where fuel through the Strait of Hormuz is critical.
Key Facts
Six of Europe’s largest oil companies made $22 billion in profits in the first quarter, up more than 40% from last year.
BP’s profits more than doubled to $3.9 billion in the second quarter.
Saudi Aramco’s net profit rose 44% to $32.69 billion in the second quarter due to higher prices for oil and related products.
U.S. oil companies Exxon Mobil and Chevron also reported huge profit increases, with Exxon doubling profits to $14.5 billion and Chevron nearly quadrupling profits to $12 billion.
Fighting in Iran and attacks on the country led to the Strait of Hormuz being effectively closed, disrupting global oil supplies.
About 20% of the world’s oil usually passes through the Strait of Hormuz.
Higher fuel prices caused by the conflict have increased costs for gasoline, jet fuel, and diesel, impacting consumers and shipping.
President Donald Trump criticized U.S. oil companies for making too much money and urged them to reduce retail fuel prices.
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More adults under 35 are living with their parents now than during the pandemic because they cannot afford homes or want to save money as living costs rise. Many have jobs, but their incomes do not keep up with inflation and high housing prices.
Key Facts
In 2025, 25.2 million adults under 35 lived at home with their parents.
The number is higher than during the COVID-19 pandemic.
About 70% of adults aged 25 to 34 living at home have jobs.
Wages are not growing enough to match the rising cost of living and housing.
Many first-time homebuyers cannot afford starter homes due to high prices and mortgage rates.
A business coach earning $60,000 had to live with her parents after a breakup because she could not afford rent alone.
Experts say the problem is about overall affordability, not just home prices or mortgages.
Living at home helps some adults save money to eventually move out on their own.
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Walgreens is closing 15 stores in 12 states and Washington, D.C. as part of a plan to shut about 1,200 underperforming locations over three years. The company is focusing on keeping stores that are more profitable due to financial pressures, changes in shopping habits, and more competition from online pharmacies.
Key Facts
Walgreens plans to close roughly 1,200 stores over three years starting in 2024.
So far in 2026, 15 Walgreens stores have been confirmed closing in 12 states plus Washington, D.C.
Illinois has the highest number of confirmed closures this year, with four stores shutting down.
Walgreens aims to close locations that lose money, have expiring leases, or do not perform well.
The company was bought by Sycamore Partners and taken private in 2025.
About 75% of Walgreens’ revenue comes from pharmacy sales, not retail items like shampoo.
Declining pharmacy reimbursement rates and a shift to online prescription services are hurting Walgreens’ business.
Competitors like CVS and Rite Aid have also reduced their number of stores recently.
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The article discusses how gambling apps, or sportsbooks, may use unfair practices to encourage people who lose a lot to keep gambling. It suggests that Congress should look into these practices to better protect those who have gambling problems.
Key Facts
Sportsbooks are apps or websites where people can bet on sports events.
Some sportsbooks may use tactics that keep people who lose a lot gambling more.
These tactics can be harmful to people with gambling problems.
The article calls for Congress to investigate these practices.
The goal is to protect big bettors who might be exploited by these gambling apps.
Problem gambling can lead to financial and personal difficulties.
Lawmakers have the power to create rules to stop unfair gambling practices.
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After years of high interest rates slowing down key parts of the economy, manufacturing and construction are now growing and creating jobs again. This growth is helped by heavy investments in artificial intelligence (AI) infrastructure, although the housing market remains weak due to high prices and mortgage rates.
Key Facts
Manufacturing has grown for seven months in a row, with more companies hiring workers.
Construction jobs, especially in commercial buildings like data centers, reached record highs in early 2026.
Spending on private data centers hit a record annual rate of $68 billion in June 2026.
AI investments are boosting demand for equipment like semiconductors and networking gear.
Defense industry demand is at an all-time high, supporting manufacturing.
Residential construction is shrinking, losing about 10,000 jobs in the first half of 2026.
High home prices and mortgage rates are keeping the housing market weak.
Some manufacturers still face challenges from tariffs, higher costs, and global tensions.
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A $50,000 1-year certificate of deposit (CD) opened in August could earn between about $2,085 and $2,200 in interest, depending on the bank’s rate. These CD returns are higher than what most traditional savings accounts offer right now, which pay around 0.38% interest and would earn only about $190 on the same deposit over a year.
Key Facts
The best 1-year CD rates this August range from 4.17% to 4.40% annual percentage yield (APY).
A $50,000 deposit in a CD at 4.40% APY earns $2,200 in interest after one year.
The smallest CD rate on the list, 4.17%, still pays $2,085 in interest on $50,000 over a year.
Traditional savings accounts pay about 0.38% APY on average, which would earn roughly $190 on $50,000 in the same period.
The interest earned from CDs is guaranteed as long as no early withdrawal penalties apply.
Savings accounts offer more liquidity, allowing access to funds without penalties, but usually with lower interest rates.
CD rates can change if the Federal Reserve adjusts borrowing costs, but locking in a CD now secures the current rate for one year.
High-yield savings accounts may offer rates closer to CDs but come with variable rates that can change if the Fed adjusts interest rates.
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