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The Federal Reserve announced its first interest rate cut in four years on Wednesday, a major turning point for the U.S. economy. The half-point cut marks a major milestone for the economy as Americans grapple with a long battle against inflation and rising living costs since the COVID-19 pandemic. In a press conference after the announcement, Fed Chairman Jerome Powell said the decision does not signal a new pattern for the Fed, but Fed officials want to keep the economy, especially the labor market, in good shape. The market surged in response to the Fed’s announcement, but all three major indexes, the S&P 500, Nasdaq and Dow, fell by the time the closing bell rang.
A walkie-talkie exploded in Lebanon on Wednesday, killing at least 20 people and wounding hundreds in a new attack targeting Hezbollah. The explosion came nearly 24 hours after a pager explosion killed at least 12 people and wounded thousands. Israel’s defense minister said a “new era” of warfare had begun, tacitly acknowledging Israel’s role in two shocking attacks that have once again brought the Middle East to the brink of major conflict. Since the Oct. 7 Hamas attack, Israel has conducted regular strikes in Lebanon in response to Hezbollah drone and missile launches. Israel has also targeted Hamas officials in Lebanon.
Video of walkie-talkie exploding during Lebanon attack
The Teamsters International Union on Wednesday withdrew its endorsement of a presidential candidate after releasing the results of an internal poll showing a majority of its members support former President Donald Trump. The Teamsters, which represents truckers, transportation workers and other workers, is the last major labor union to do so. Other major labor unions in the country, including the American Teachers Federation and the United Auto Workers, have endorsed Vice President Kamala Harris. An endorsement from the Teamsters, which has many members in key battleground states such as Michigan, Wisconsin and Pennsylvania, would have been a crucial achievement for either candidate. The last time the Teamsters abstained from a presidential election was in 1996.
The Department of Justice is seeking more than $100 million in damages from the two companies that owned and operated the container ship that destroyed Baltimore’s Francis Scott Key Bridge in March. The Justice Department’s complaint says the companies’ cost-cutting and negligence in maintaining the ship led to a “completely avoidable” disaster. Federal prosecutors say the fines will cover the costs of the government’s response to the deadly bridge collapse and the months of work to remove the roughly 50,000 tons of steel, concrete and asphalt debris. The city of Baltimore has filed its own lawsuit against the companies, and the families of three of the victims have also indicated they intend to sue.
Watch as part of a Baltimore bridge collapses
Two tropical cyclones are expected to make landfall in Asia today, affecting areas recently hit hard by Typhoons Bebinka and Yagi. Tropical Storm Pulasan has weakened significantly since peaking as a 75 mph storm earlier this week. Though winds have weakened to about 50 mph, the storm will still bring heavy rain as it makes landfall near Shanghai today. Forecasters say central and southern Korea could see localized rainfall of up to 10 inches. Further south, Tropical Depression 16 has formed off the coast of Vietnam. This depression is expected to remain weak and make landfall in central Vietnam in the coming hours. Areas in central Vietnam, Laos and eastern Thailand are bracing for localized rainfall of up to 20 inches.
Fans eagerly await SNL Season 50 and its star-studded lineup
Everyone loves a good laugh, and “Saturday Night Live” will provide plenty of laughs when it returns later this month, with these stars set to host or appear in the show’s historic 50th season.
How to win the battle with your kids over cell phone use
Many young children are, quite frankly, spending way too much time in front of screens. Here’s how to set rules around smartphone use in your home.
Award-winning journalist Adrian Wojnarowski leaves ESPN
NBA insider Adrian Wojnarowski is leaving ESPN to become general manager of his alma mater’s men’s basketball team.
Smoky Mountains’ highest peak reverts to Native American name
Great Smoky Mountains National Park, on the Tennessee-North Carolina border, is the most visited national park in the United States, and its highest peak will officially revert to its Cherokee name after more than 150 years.
Meet the Billionaire Building Bangkok’s Newest Megamall
While shopping malls are closing in the US, the story is different in Asia, where Thai billionaire El Supalak Unpji told CNN how he found a “winning retail formula” before becoming chairman of The Mall Group.
1.5 billion
At least that many golf balls are lost each year in the United States, according to Shawn Sienfield, CEO of Found Golf Balls, which recovers and resells millions of lost balls across the U.S. and Canada. “The number of golf balls lost worldwide each year could easily exceed three to five billion,” said a course manager for the Danish Golf Union who has studied golf’s environmental impact.
“I made her finish her Frappuccino.”
— Bedford police found an 8-year-old girl in Ohio driving to a Target in her mother’s car. Dashcam footage showed the SUV struggling to stay in its lane on the 13-mile trip to the store. Police said it’s unclear what the girl bought, but they returned home safe after finishing her drink.
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And finally…
Venezuelan journalists use AI to protect their identities amid government crackdown
Venezuela Hires AI News Anchor
While journalists in many countries around the world see AI as a threat to their way of life, in Venezuela, where seeing your face in a news report could land you in prison, many see AI as a positive protection. See the AI news anchor clip here.