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Lawmakers batter Big Tech CEOs, but don't land many blows

Michael Liedtke, Marcy Gordon and Matt O'Brien, Associated Press  |  Posted Jul 29th - 10:10pm

Congressional lawmakers finally got a chance to grill the CEOs of Big Tech over their dominance and allegations of monopolistic practices that stifle competition. But it's not clear how much they advanced their goal of bringing some of the world's largest companies to heel.

Asia Today: 723 cases in Australia, closures in Vietnam

The Associated Press  |  Posted Jul 29th - 9:55pm

Australia’s coronavirus hot spot Victoria will make masks compulsory statewide after reporting on Thursday a record 723 new cases.

Vietnam imposes more virus restrictions as outbreak spreads

Hau Dinh, Associated Press  |  Posted Jul 29th - 9:14pm

Vietnam imposed more coronavirus restrictions Thursday as an outbreak that started in a popular beach resort destination grew with nine new cases.

Arkansas to fund statue of Black woman civil rights leader

The Associated Press  |  Posted Jul 29th - 4:11pm

Arkansas officials plan to use a state grant to help fund the construction of a statue of civil rights leader Daisy Bates in the U.S. Capitol, instead of using that money for an easement at the site of a Confederate statue in downtown Little Rock.

Former Wilmington Trust execs lose bid to nix SEC complaint

Randall Chase, Associated Press  |  Posted Jul 29th - 3:57pm

A federal judge on Wednesday rejected a request by two former bank executives who were convicted on criminal charges to dismiss a civil suit filed against them by federal securities regulators.

Stocks rally, Fed warns, rates same, Aid bill battles

The Associated Press  |  Posted Jul 29th - 3:28pm

Wall Street rallied today with the S&P up 1.2%, gaining 40.00 points to 3,258.44 for its best day in two weeks after the Federal Reserve kept the accelerator floored on its support for the economy. Stocks began rising as soon as trading opened, and momentum picked up after the Fed said in the afternoon that it will keep interest rates at their record low as the economy struggles through the recession created by the coronavirus pandemic. Tech stocks again helped lead the way. The Dow rose 160.29, or 0.6%, to 26,539.57, and the Nasdaq composite added 140.85, or 1.4%, to 10,542.94.

Group alleges greyhounds being trained with live rabbits

Margaret Stafford, Associated Press  |  Posted Jul 29th - 2:58pm

Two U.S. representatives introduced legislation Wednesday that would ban greyhound racing nationwide, after an advocacy group released videos showing greyhounds being trained by chasing, mauling and killing live rabbits in Kansas, Oklahoma and Texas, a practice that is prohibited by the greyhound racing industry.

Suspended Arkansas professor indicted on fraud counts

The Associated Press  |  Posted Jul 29th - 2:55pm

A suspended University of Arkansas professor has been indicted on multiple wire and passport fraud counts.

Ex-Maryland lawmaker gets 2 years in prison in bribery case

Michael Kunzelman, Associated Press  |  Posted Jul 29th - 2:35pm

A former state lawmaker who helped create Maryland's medical marijuana industry was sentenced on Wednesday to two years in prison for taking bribes for legislative favors, including votes to benefit a medical marijuana company.

Farmer returns prosthetic leg that skydiver lost during jump

The Associated Press  |  Posted Jul 29th - 2:00pm

A Vermont skydiver who lost his prosthetic leg during a jump has it back, thanks to a farmer who kept an eye out for it and spotted it in a soybean field.

Court says Judd can sue Weinstein for sexual harassment

Andrew Dalton, Associated Press  |  Posted Jul 29th - 1:31pm

A federal appeals court on Wednesday restored a major part of Ashley Judd’s lawsuit against Harvey Weinstein, finding that the producer had power over the actor which should make her able to sue under a California sexual harassment law.

The Latest: Zuckerberg questioned on viral misinformation

The Associated Press  |  Posted Jul 29th - 12:40pm

The Latest on testimony before a congressional committee by the CEOs of Facebook, Apple, Amazon and Google (all times local):

Text of the Fed's statement after its meeting Wednesday

The Associated Press  |  Posted Jul 29th - 12:11pm

Below is the statement the Fed released Wednesday after its policy meeting ended:

Update on the latest in business:

The Associated Press  |  Posted Jul 29th - 12:04pm

Stocks are rising in midday trading on Wall Street, led by technology stocks. Chip maker Advanced Micro Devices jumped nearly 14% for one of the market’s biggest gains after it reported stronger profit growth for the spring than Wall Street expected and raised its sales forecast for the year.

Fed sees dim economic outlook as virus squeezes economy

Christopher Rugaber, Associated Press  |  Posted Jul 29th - 12:03pm

Federal Reserve Chair Jerome Powell warned Wednesday that the viral epidemic is endangering the modest economic recovery that followed a collapse in hiring and spending this spring. As a result, he said, the Fed plans to keep interest rates pinned near zero well into the future.

Fed sketches dim outlook for US economy amid pandemic and signals it will keep rates pinned near zero

The Associated Press  |  Posted Jul 29th - 12:00pm

Fed sketches dim outlook for US economy amid pandemic and signals it will keep rates pinned near zero.

US energy use hit 30-year low during pandemic shutdowns

Matthew Brown, Associated Press  |  Posted Jul 29th - 11:10am

U.S. energy consumption plummeted to its lowest level in more than 30 years this spring as the nation’s economy largely shut down because of the coronavirus, federal officials reported Wednesday.

Pandemic shakes up earnings season - some win, some lose

The Associated Press  |  Posted Jul 29th - 10:00am

After a drastic plunge in usage with so many people no longer commuting to work, the music streaming service said Wednesday that in-car listening at the end of the quarter was less than 10% below pre-pandemic levels. That's up from a 50% decline at the trough in April. Spotify had a 27% uptick in premium subscribers in its second quarter compared with a year ago, while total monthly active users rose 29%. Still, it posted a wider-than-expected quarterly loss and revenue was disappointing. Shares dipped about 1%.

US is expected to report a record-breaking economic plunge

Martin Crutsinger, Associated Press  |  Posted Jul 29th - 9:50am

Having endured what was surely a record-shattering slump last quarter, the U.S. economy faces a dim outlook as a resurgent coronavirus intensifies doubts about any sustained recovery the rest of the year.