TheDailyBeast

Fears of an impending U.S. recession sent the Dow Jones Industrial Index tumbling more than 1,000 points in early trading Monday and triggered a panic sell-off in financial markets around the world.Wall Street went into meltdown with the S&P 500 down 4 percent and Nasdaq dropping 5.5 percent. The Dow Jones slipped 3 percent, or 1,197 points by 9.35 a.m. Eastern.Earlier, the FTSE 100 index in London fell by 2.1 percent, and it was followed by the Nikkei 225 in Japan plunging by 12.4 percent, or 4,451 points, the biggest one-day points drop in history.In Paris, the CAC-40 fell by...

Stock Markets Crash Worldwide Over Fears of U.S. Recession

If global investors are pulling out of Chinese markets at an alarming rate, Beijing won’t be sounding the bell. This week, Chinese authorities restricted access to daily data on the Stock Connect platform that shows how much (in this case, how little) foreign money is pouring into the country’s stock market, opting to only release those figures quarterly, the Financial Times reported.

China Wants International Investors Kept in the Dark

Business Times

Walmart has divested its entire stake in Chinese e-commerce giant JD.com, a move signaling the retail behemoth's intensified focus on its own operations in China. The sale, which was revealed in a securities filing on August 20, allows Walmart to refocus its capital and strategic efforts on expanding its presence in the Chinese market, particularly through its Sam's Club warehouse chain.

Walmart Divests $3.74 Billion Stake in JD.com to Sharpen Focus on China Operations

Reuters

HONG KONG (Reuters) - Offshore creditors of China Evergrande might be able to increase their chance of recovering funds if they can prove the property developer is due money from onshore subsidiaries, to which they would therefore be entitled, experts said.

Analysis-China Evergrande subsidiary dealings raises prospects for offshore creditors

BEIJING — The U.S. and China last week signed agreements for cooperating on financial stability, according to a People's Bank of China readout Monday. A Treasury readout described the two sides as "exchanging letters in support of coordination." The agreement was part of a meeting of the U.S.-China Financial...

U.S., China sign agreement to cooperate on financial stability

New York City, NY

Nassau County, NY

A convicted New York drug dealer and predatory lender who was freed from federal prison after his sentence was commuted in 2021 by then-President Donald Trump was arrested on assault charges. Jonathan Braun is accused in Nassau County court of assaulting his elderly father-in-law as he tried to protect his...

New York drug dealer whose prison sentence Trump commuted arrested on assault charges

Ohio State

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The Lantern

On Tuesday, licensed Ohio dispensaries began legally selling non-medical marijuana to consumers; however, the drug’s possession, growth and/or usage are still prohibited on Ohio State’s campus. Credit: Jefferee Woo/Tampa Bay Times/TNS [Original caption: Four citizen-led petitions with proposals to update Dallas’ charter hit the 20,000 valid signature threshold to make it on the Nov. 5 election ballot, including one that would ban police officers from arresting or citing people carrying less than four ounces of marijuana.] As of Tuesday, students 21 and older can now legally purchase marijuana in Ohio.

Dispensary sales of recreational marijuana began Tuesday; possession and usage still prohibited on Ohio State’s campus

Jacksonville, FL

Jacksonville Today

A historic marker could be erected to honor the victims of the racist mass shooting at the Dollar General store in Jacksonville’s New Town neighborhood nearly a year ago. If approved by the Jacksonville City Council, a marker would be installed at Kings Road and Canal Street on Aug. 25, a day before the first anniversary of the shooting, when a white gunman took the lives of three Black people.

Memorial considered to honor Dollar General victims

Virginia State

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Kentucky Vibes.net

Disclaimer: This article was written with the help of A.I. software. On July 28, 2024, a TikTok video posted by Erica W., known as @tasteofmelanin on the platform, garnered significant attention after she exposed disturbing racist decorations in an Airbnb rental. The incident occurred in a rental property that Erica had booked, although the exact location remains unspecified. The video has since gone viral, prompting widespread concern and leading to the removal of the listing from Airbnb's platform.

Airbnb Listing Taken Down After Black Woman Finds Hanging Monkeys and Cotton Used As Decor

Colorado State

David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

Steven Blitz, chief U.S. economist at TS Lombard, weighs in on the minutes of Federal Reserve's July policy meeting.

Fed minutes suggest policy may be behind the curve, TS Lombard economist says

The body of Mike Lynch, known as the "British Bill Gates," has been retrieved from the Bayesian superyacht that sunk off the coast of Sicily. Lynch's 18-year-old daughter Hannah remains missing. As the founder of enterprise software firm Autonomy, Lynch became the target of a protracted legal battle with Hewlett...

Body of British tech entrepreneur Mike Lynch retrieved from Sicily yacht wreckage

Bill Ackman failed to launch a publicly-traded investment fund earlier this month. He typically keeps a highly concentrated portfolio of a few high-conviction stocks. These three companies all have strong competitive advantages, but not every one looks like a buy right now. You can still follow Bill Ackman's trades. Here...

Billionaire Bill Ackman Has 60% of His Hedge Fund's $10 Billion Portfolio in Just 3 Stocks

Kansas State

Elkhart, KS

The former CEO of a small Kansas bank was sentenced to more than 24 years in prison for looting the bank of $47 million. Shan Hanes, pronounced Shane, sent the funds from Heartland Tri-State Bank to cryptocurrency wallets controlled by scammers who had duped him in a "pig butchering" scheme that appealed to his greed, federal prosecutors said.

Cryptocurrency 'pig butchering' scam wrecks Kansas bank, sends ex-CEO to prison for 24 years

Wealthy businessman Timothy Mellon and former New York Mayor Michael Bloomberg wrote huge, eight-figure checks in July to support major Republican and Democratic super PACs, respectively, gearing up for the 2024 election. Mellon, who donated $50 million in May to Make America Great Again Inc., the super PAC that supports...

Billionaires Timothy Mellon and Mike Bloomberg inject massive sums into 2024 super PACs

Houston, TX

This story is part of CNBC Make It's Six-Figure Side Hustle series, where people with lucrative side hustles break down the routines and habits they've used to make money on top of their full-time jobs. Got a story to tell? Let us know! Email us at AskMakeIt@cnbc.com. When Leena Pettigrew...

44-year-old’s garage side hustle brings in $148,600 a year: ‘You don’t have to have business experience’

Apache Junction, AZ

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Suzy Jacobson Cherry

When I studied Anthropology in college, I learned that teeth have been indicators of economic status just about forever. Archaeologists look at the teeth in ancient skeletons and know who the rich were based on their tooth decay. During the Renaissance period, it became fashionable for women to blacken their teeth to look like they were better off than they were, because the royals and aristocrats, who could afford sugar and sweets, had more rotten and missing teeth than the poor.

Opinion: Stop Stereotyping Bad Teeth as a Sign of Drug Addiction

Salem, OH

Northern Kentucky Tribune

Every day, 8-year-old Emma sits in a small garden outside her grandmother’s home in Salem, Ohio, writing letters to her mom and sometimes singing songs her mother used to sing to her.

Thousands of parents die of overdoses; advocates say their kids need more help

Philadelphia, PA

Philadelphia Fed President Patrick Harker joins 'Squawk on the Street' to discuss his thoughts on the jobs market, the risks of a weaker job market, and more.

Philadelphia Fed President Patrick Harker: Job market revisions weren't a surprise

The U.S. benchmark is now up just 0.91% for the year, while Brent has erased all of its gain for 2024. Demand is slowing in China as drivers switch from gas to electric vehicles and trucks transition to liquid natural gas from diesel. U.S. crude oil was above $72 per...

U.S. crude oil holds above $72 per barrel after erasing most of 2024 gain

NewsBreak

PwC China faces six-month business ban, large fine over Evergrande audit, sources say

Chinese regulators will likely order business suspension for a big part of PricewaterhouseCoopers' auditing unit in mainland China for six months, as part of punishment for...

PwC China faces six-month business ban, large fine over Evergrande audit, sources say

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