Meta shares drop as Q2 profit declines due to expenses

Meta Platforms said Wednesday its second-quarter profit declined even as revenue beat Wall Street’s expectations, as legal expenses and severance costs for recent layoffs weighed on its results. The Facebook and Instagram parent company earned $15.85 billion, or $6.18 per share, in the April-June period.

Elon Musk's xAI sues Minnesota over law banning 'nudification'

Elon Musk’s company xAI has sued Minnesota over the state’s first-in-the-nation law that bans “nudification” technology on websites and apps, potentially providing a test for how far states can go in constitutionally regulating the use of artificial intelligence.

Australian watchdog files legal action against Telegram

MELBOURNE, Australia (AP) – Australia’s online safety watchdog has filed legal action against messaging app Telegram, saying the platform failed to remove extremist content including videos of white supremacist mass shootings in Buffalo, New York, and the New Zealand city of Christchurch as well as Islamic State group beheadings.

Trump announces a $22.5 billion makeover of Dulles airport

WASHINGTON (AP) – President Donald Trump on Wednesday announced a $22.5 billion renovation of Washington Dulles International Airport that will end the use of the widely disliked “people movers,” the mobile lounges that have been used for decades to shuttle travelers to and from the main terminal.

Film financier Jason Cloth indicted in alleged $100M Ponzi scheme.

Film producer Jason Cloth, who financed “Joker,” “Ghostbusters: Afterlife” and dozens of other movies, has been indicted by a federal grand jury on wire fraud charges in connection with what prosecutors say was a $100 million Ponzi scheme.

Editorials from The New York Times, The Washington Post, The Wall Street Journal and others

Editorials from The New York Times, The Washington Post, The Wall Street Journal and others

Cuba loosens control of its private sector in mounting humanitarian crisis

HAVANA (AP) – In an effort to fend off a mounting humanitarian crisis, Cuba on Wednesday eased up on longtime restrictions on private vendors and imports, opening up a sector firmly controlled by the Communist-led government.

The Federal Reserve is expected to keep rates unchanged for now despite high prices

WASHINGTON (AP) – Federal Reserve policymakers are losing patience with inflation, but they may not be ready to turn their frustration into action — not this week anyway.

China denies excess industrial capacity as more US tariffs loom

HONG KONG (AP) – China pushed back Tuesday against claims of overcapacity in the world’s second largest economy, ahead of the release of results of a U.S. probe on the matter that could result in new tariffs.