Birmingham Nebius Data Center Remains Under Legal Challenge
The proposed 300-megawatt Nebius data center remains under legal challenge after Birmingham approved a multibillion-dollar tax-abatement package.
Business & Economy
Jobs, labor, companies, prices, investment, markets, trade, agriculture, energy, and consumer economics.
-
-
12 States Sue to Block Paramount’s Proposed Warner Bros. Acquisition
A coalition led by California Attorney General Rob Bonta says Paramount’s proposed purchase of Warner Bros. Discovery would reduce competition. Paramount disputes the claim, while the Writers Guild of America has filed a separate challenge.
-
Baltimore County proposes up to $25 million for Ravens facility upgrades in Owings Mills
Baltimore County has proposed investing up to $25 million over 10 years to upgrade and expand the Baltimore Ravens’ headquarters and training facility in Owings Mills.
-
Cedar Rapids advances manufacturing, housing and redevelopment projects
Cedar Rapids council actions advanced a Sub-Zero expansion, downtown redevelopment, housing and a logistics facility, with some projects tied to tax incentives.
-
Connecticut Seeks $2 Million for Bridgeport Remington Site
A state funding request would support redevelopment and shot-tower rehabilitation at Bridgeport’s former Remington Arms facility on Barnum Avenue.
-
FAO Releases July 2026 Food-Price Index Update as Global Supply Risks Persist
The Food and Agriculture Organization released its July 2026 Food Price Index update on Aug. 7, following a June reading of 130.3 points.
-
Labor Department expands dislocated-worker grants to support AI-era reskilling
Federal guidance broadens national dislocated-worker grants to address workforce disruption linked to artificial intelligence, reindustrialization and other economic changes, with employment or paid training targeted within six months.
-
FTC says Celsius executives will pay $16.5 million and accept cryptocurrency marketing bans
The Federal Trade Commission says Alexander Mashinsky, Shlomi Daniel Leon and Hanoch Goldstein agreed to pay $16.5 million and accept restrictions on marketing cryptocurrency products.
-
Apple’s incoming CEO says he will build on the company’s film and TV momentum
John Ternus, scheduled to become Apple’s CEO in September 2026, said he intends to build on the company’s progress in entertainment across streaming and theatrical releases.
-
U.S. employers unexpectedly cut 23,000 jobs in July as unemployment rate fell to 4.1%
U.S. employers cut 23,000 nonfarm jobs in July, while unemployment fell to 4.1% in a report that pointed to a weakening labor market.
-
European Commission Fines AliExpress €550 Million Over Illegal, Unsafe and Counterfeit Products
The European Commission said AliExpress breached the EU Digital Services Act by failing to properly assess and mitigate risks involving illegal, unsafe and counterfeit products on its online marketplace.
-
IMF Holds 2026 Global Growth Forecast at 3% as War and AI Pull Economies in Opposite Directions
The IMF kept its global growth outlook broadly unchanged, but warned that the Middle East war, stalled disinflation and financial-market repricing threaten the recovery.
-
USTR Proposes Additional Tariffs on Imports From 60 Economies Over Forced-Labor Enforcement
The United States Trade Representative proposed additional tariffs of 10% or 12.5% on imports from 60 trading partners, with possible exemptions for products that could disrupt domestic supply.
-
Bankruptcy court confirms QVC Group restructuring plan, clearing path for debt-cutting exit
A Texas bankruptcy court confirmed QVC Group’s prepackaged Chapter 11 restructuring plan, which is designed to reduce debt from about $6.6 billion to $1.3 billion.
-
U.S. mortgage rates rise for a fifth straight week to highest level in more than a year
The average long-term U.S. mortgage rate reached its highest level since late July 2025, increasing borrowing costs for homebuyers and people considering refinancing.
-
U.S. Restaurant Sales Reached a Preliminary $102.5 Billion in June as Price Growth Moderated
Restaurants posted a fourth monthly sales increase in five months, but the latest figures show nominal growth alongside continued pressure from inflation, traffic and operating costs.
-
ADB Cuts South Asia’s 2026 Growth Forecast to 6.0% as Energy Costs Weigh on Incomes
The Asian Development Bank lowered South Asia’s 2026 growth forecast, citing elevated energy prices, weaker real incomes and growing external-sector pressure across the region.
-
Justice Department seeks penalties and relief in Edwards LifeSciences acquisition case
The Justice Department filed an antitrust complaint over Edwards LifeSciences’ acquisition of JC Medical from Genesis MedTech, alleging the transaction was structured to avoid required federal reporting.
-
U.S. mortgage rates reach a one-year high after five straight weekly increases
The average U.S. long-term mortgage rate rose for a fifth consecutive week by Aug. 7, reaching its highest level in just over a year as home prices remained elevated.
-
Justice Department Requires CRH to Divest Two Tennessee Asphalt Plants
The Justice Department and Tennessee attorney general announced an agreement requiring CRH to divest two hot-mix asphalt plants after its acquisition of Standard Construction.
-
FTC Says Elite Events Will Pay $300,000 Over Alleged Ticket-Limit Evasion
The Federal Trade Commission says ticket broker Elite Events and its operators bypassed purchase limits while buying millions of dollars in tickets to high-demand events.
-
Olin and Huntsman Set Aug. 25 Shareholder Votes on Planned All-Stock Merger
The SEC has declared effective the registration statement for Olin and Huntsman’s proposed merger of equals, clearing the companies to seek shareholder approval on Aug. 25.