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The Trump administration has urgently petitioned the U.S. Supreme Court to overturn a federal ruling that found the president exceeded his authority in imposing global tariffs. Solicitor General John Sauer emphasized the need for swift review due to its impact on trade talks. Treasury Secretary Scott Bessent warned that delay could disrupt up to $1trn in tariffs and ongoing negotiations. A federal court found Trump’s use of emergency powers under the 1977 law unlawful, stating it doesn’t authorize tariff imposition. Small businesses, hurt by the tariffs, also support a quick resolution.

 

Bloomberg

NPR / National Public Radio

Reuters

Wall Street Journal

A federal judge ruled the Trump administration unlawfully revoked $2.2bn in research funding from Harvard University, violating its constitutional rights. U.S. District Judge Allison Burroughs said the government’s actions were politically motivated and used antisemitism “as a smokescreen.” She barred future retaliation without legal process. Harvard welcomed the ruling, while the administration vowed to appeal. Treasury Secretary Linda McMahon leads the government’s broader crackdown on elite universities, with future grant access still in question. Burroughs emphasized the importance of free speech, writing that political agendas must not override constitutional protections.

 

Billings Gazette

Bloomberg Tax

Wall Street Journal

Federal officials have agreed to restore health and science-related webpages and data following a lawsuit settlement with various doctors' groups, led by the Washington State Medical Association. The lawsuit arose after the Trump administration removed critical health information on topics such as pregnancy risks and opioid-use disorder, which Dr. John Bramhall described as an "egregious example of government overreach." The U.S. Department of Health and Human Services will restore over 100 websites, with Graham Short stating: "We expect the sites will be restored in the coming weeks." This case parallels another lawsuit filed in Washington, D.C., by Doctors for America, which also sought the restoration of health information. As of last week, 167 websites had been restored in that case, with 33 still under review.

 

The Columbian

U.S. News

Newsmax has filed a lawsuit against Fox Corp, alleging that the media giant has engaged in antitrust violations by coercing distributors to limit competition in the right-leaning pay TV market. The lawsuit claims that Fox's actions have stifled Newsmax's growth and left consumers with fewer choices, seeking both monetary damages and a court order to prevent Fox's alleged misconduct. In response, Fox has denied the allegations, attributing Newsmax's struggles to its own inability to attract viewers.

 

Al.com

Los Angeles Times

NPR / National Public Radio

Reuters

The City of Seattle has filed a lawsuit against Glock and three local gun shops, claiming they contribute to public nuisance by marketing handguns that can be easily converted into illegal automatic weapons. The lawsuit highlights the dangers of Glock switches, which can transform a handgun into a machine gun, increasing the risk of gun violence. Seattle City Attorney Ann Davison stated that the city has a “manifest interest” in protecting residents from these easily converted weapons. The suit alleges that Glock has known about the vulnerability of its handguns for nearly 40 years but has refused to change their design. The lawsuit also points out that the prevalence of converted Glocks has raised the stakes of gun-related violence, with a significant increase in shell casings collected at shooting scenes since 2020.

 

The Columbian

U.S. economic activity saw “little or no change” across most of the country in recent weeks, according to a new Federal Reserve report. The central bank's Beige Book compilation of anecdotes from businesses across the Fed's 12 member districts gathered through to August 25th, stated: “Most of the twelve Federal Reserve districts reported little or no change in economic activity since the prior Beige Book period. Across districts, contacts reported flat to declining consumer spending because, for many households, wages were failing to keep up with rising prices." Eleven of the 12 districts saw little or no net change in overall employment levels, while half reported a decline in immigrant workers.

 

Bloomberg

Market Watch

Reuters

New orders for U.S.-manufactured goods fell 1.3% in July, pulled down by a 32.7% drop in commercial aircraft bookings, according to the Labor Department.  Economists polled by Reuters had forecast a 1.4% decline. On an annual basis, orders advanced 3.5%. Durable goods orders dropped 2.8% after plummeting by 9.4% in June, while non-durable goods rose by 0.3%. Shipments of manufactured goods jumped 0.9%, while inventories were up 0.3%. 

 

Nasdaq

Reuters

U.S. Health Secretary Robert F. Kennedy Jr. has appointed seven new members to the CDC's Advisory Committee on Immunization Practices (ACIP), following his controversial dismissal of all 17 original members in June. The latest additions include medical professionals such as Dr. Raymond Pollak and Dr. Joseph Fraiman. “I’m being considered pending the vetting process,” Pollak confirmed. Critics argue Kennedy’s overhaul—amidst his long-standing vaccine skepticism—may compromise the panel’s independence. Former CDC Director Susan Monarez was recently fired after opposing vaccine policy changes, prompting resignations from three top officials. ACIP’s next vote on major vaccines is set for September 18.

 

Reuters

Dr. Vinay Prasad, once ousted then reinstated as FDA’s vaccine chief under RFK Jr., has become a lightning rod within the “Make America Healthy Again” (MAHA) coalition. Despite shared skepticism of Covid vaccines, allies clashed with Prasad’s limited support for childhood immunizations and biotech oversight. “He gives too much blanket trust,” said Kennedy campaign aide Del Bigtree. White House pressures and MAHA infighting also led to the firing of CDC Director Susan Monarez. With activists growing restless over issues like mRNA vaccines and pesticide regulation, Kennedy faces challenges maintaining cohesion within his diverse base.

 

Wall Street Journal

The World Gold Council, alongside Linklaters and Hilltop Walk Consulting, has proposed a new framework to modernize gold trading through a structure called Pooled Gold Interests. This system enables investors to hold fractional shares of physical gold stored in vaults, improving liquidity and usability. It aims to simplify trading, enable use as collateral, and support secure transfers. Unlike allocated gold, which involves specific bar ownership, or unallocated gold, which carries institutional credit risk, the new structure offers a balanced alternative. This initiative follows broad industry consultations and recent evaluations by the Financial Markets Standards Board.

 

Reuters

Cracker Barrel faced a significant sales decline following the controversial update of its logo, which removed the iconic Uncle Herschel figure. The backlash began on August 19th, leading to a 15% increase in unfavorable views of the brand, as reported by Morning Consult. The company quickly reverted to its old logo after President Donald Trump criticized the change, commenting: “We thank our guests for sharing their voices, and we're listening to them.” Despite efforts to modernize and attract younger customers, the logo change highlighted the risks brands face amid political polarization. The Kennesaw, Georgia location experienced a notable drop in traffic, with one employee describing it as “dead for a week.” Although the negative perception began to wane shortly after the logo was scrapped, the incident resulted in a 10% drop in stock value since August 18th.

 

Los Angeles Times

PFZW, one of Europe’s largest pension funds with €250bn in assets, has withdrawn a €14.5bn mandate from BlackRock, citing concerns over the firm’s voting record on sustainability. The decision underscores growing tensions between European and American investors over ESG standards. While US firms have pulled back from sustainability amid shifting political winds, Dutch activists are pressing pension funds to cut ties with managers not backing climate resolutions. PFZW confirmed that BlackRock now manages only a smaller portion of its money market holdings. According to BlackRock, its support for environmental and social recommendations from shareholders decreased from 4% in 2024 to 2% in 2025. The asset manager said many of them lacked economic merit or were unduly prescriptive, which is why they fell.

 

Financial Times

The Times

Amazon has decided to pause its plan to redistribute delivery vans after facing backlash from third-party delivery company owners over unexpected repair costs. The e-commerce giant's delivery service partners, who lease the vans, are contractually responsible for repairs before returning them, leading to complaints about financial burdens. This decision reflects Amazon's response to the concerns raised by its delivery partners regarding the operational challenges they face.

 

Reuters

Macy's chief executive Tony Spring says the firm is seeing "some green shoots" from the turnaround plan he instigated on taking the helm last year, with quarterly sales rising for the first time in three years. “We’re just well positioned right now for the environment we’re in to take share, to deliver for our customers and to provide a better experience", he added. In the second quarter ended August 2nd, revenues totalled $4.81bn, down from $4.94bn a year earlier. Net income fell to $87m, or 41 cents per share adjusted, down from $150m. Analysts polled by LSEG had expected sales of $4.76bn and per-share earnings of 18 cents. Comparable sales rose 1.9% for all of its stores, including its licensed business. At its namesake outlets they rose 1.1%, and were up 3.6% and 1.2% respectively at Bloomingdale's and Bluemercury.

 

ABC News

CNBC

Wall Street Journal

Daily Mail

American Eagle shares soared 24.9% to $17 in after-hours trading on Wednesday, after the apparel retailer announced fiscal second-quarter earnings that beat Wall Street expectations. Chief executive Jay Schottenstein credited the company's advertising campaign with Sydney Sweeney for heightened brand awareness and consumer engagement, though he also cited its improved product offerings. “In just six weeks, the campaign has generated unprecedented new customer acquisition. To be clear, that consumer acquisition is coming from every single county in the U.S. This momentum is national, and it is pervasive", he said. In addition to the "Sydney Sweeney Has Great Jeans" campaign, Mr Schottenstein also noted a positive impact from its new collaboration with NFL star Travis Kelce.

 

CNN

Bloomberg

CNBC

Wall Street Journal

Dollar Tree said Wednesday that it expects net sales for 2025 to come in at $19.3bn-$19.5bn, up from its earlier projections for $18.5bn-$19.1bn, with consumers continuing their hunt for affordable products. With inflation and uncertainty squeezing budgets, more middle- and higher-income consumers were shopping at its stores, with households earning above $100,000 annually contributing meaningfully to its second quarter growth, chief executive Mike Creedon said. In the second-quarter ended August 3rd, net revenues rose 12% to $4.57bn, ahead of the $4.48bn expected among analysts, helping it to a profit of $188.4m, or 77 cents per share adjusted, topping analyst projections for 42 cents. Same-store sale rose 6.5%.

 

Bloomberg

Reuters

Wall Street Journal

Starbucks is rolling out artificial intelligence (AI) technology to help staff keep track of inventory in its coffee stores. The technology, which was developed in collaboration with Redmond-based software company NomadGo, relies on “computer vision, 3D spatial intelligence and augmented reality,” Starbucks said. It counts inventory in minutes and delivers information on product availability. The coffee chain estimates that, as a result of the new technology, inventory is counted eight times more frequently. The data also helps speed up deliveries and curb stock-outs.

 

Reuters

The Seattle Times

Amazon has launched Lens Live, an AI-powered upgrade to its visual search tool, Amazon Lens. The feature allows users to discover products in real-time by pointing their phone at items in the real world. Customers can tap on items to find matches and add them to their shopping cart or wish list. The feature integrates with Amazon's AI shopping assistant, Rufus, providing product insights and summaries. Initially available on the Amazon Shopping app for iOS, it targets "tens of millions" of US shoppers, with potential future expansion.

 

AP News

Techcrunch

A new spear-phishing campaign has emerged targeting senior executives and C-suite personnel across multiple industries, leveraging Microsoft OneDrive as the primary attack vector. The attackers, who are employing sophisticated anti-detection mechanisms that exploit email client display differences, are using carefully crafted emails masquerading as internal HR communications about salary amendments to trick high-profile targets into surrendering their corporate credentials. The malicious emails feature subject lines containing “Salary amendment” or “FIN_SALARY” references and appear as legitimate OneDrive document-sharing notifications. Stripe OLT analysts identified this campaign while monitoring threat landscape activities, discovering that attackers are utilizing Amazon Simple Email Service (SES) infrastructure for delivery while rotating through approximately 80 different domains and subdomains to evade detection. Security teams can combat the hackers by implementing targeted hunting queries, such as KQL, to identify potential compromise attempts.

 

Cybersecurity News