Live from NPR news in New York City, I'm Dua Hlesi-Cal-Towell.
Stocks opened lower this morning as two oil tankers came under attack in the straight
“of our moves, and Pierscott Horstley reports the Dow Jones Industrial Average fell about”
300 points in early trading. Crew to all prices jumped on renewed fighting in the straight, the U.S. benchmark for crew is nearing $90 a barrel. Other places retail gasoline prices in the U.S. rose overnight to just under $4.10 a gallon. Federal Reserve Governor Michael Barr says he'll be watching closely in the next few
weeks to see which way inflation is moving, if price hike's appear to be moderating, Barr thinks the Fed can hold interest rates steady. Otherwise, he says the Central Bank should act decisively to raise rates, investors currently put the likelihood of a September rate hike at about 2 to 1. And Apple's new CEO takes the reins today, John Ternis is taking over for Tim Cook, who's
steered Apple to a market value of more than 4.5 trillion dollars. Scott Horstley and Pierre knew he was watching him.
Maritime intel firm Tanker Trackers says around 4 million barrels of crude oil a day passed
“through the straight of our moves on average this past month, largely undetected by Iran.”
That's still a third of what exited the straight before the war, and Piers' Ayya Betrayer reports on uncertainty looming over the Gulf. Millions of students across the Gulf are starting the new school year this week, and the Trump administration is sending some diplomats back to their posts in the region months after they were evacuated early in the war.
These are some of the signs that life in the United Arab Emirates, Qatar, and other Gulf Arab states is gradually returning to normal following Iran's attacks that prompted school closures. But it's not yet business as usual. In Dubai, tourism is down from pre-war levels and food prices are up due to shipping
constraints. Dubai's booming real estate market has also cooled. A report by better homes says transactions fell by 45% between April and June compared to last year's second quarter. Ayya Betrayer and Pier News, Dubai.
Donald Trump Jr.'s venture capital firm is set to become one of the biggest financial backers of Polly Market. As in Piers' Bobby Allen reports, it comes as the prediction market industry faces increased legal scrutiny. The President's son is a partner at 1789 capital, and the investment fund says that his
pumping $300 million in to Polly Market.
The investment will make Donald Trump Jr.'s firm one of the top equity holders of Polly Market. The platform allows people to bet on White House policy, the President's words, and wars overseas. The Biden administration force Polly Market out of the U.S. for operating without a license,
Biden officials also were investigating the company for money laundering. But in Trump's second term, Polly Market has thrived. As the administration sues states that try to reign in prediction markets and takes a mostly hands-off approach to regulations. Donald Trump Jr. also has a financial stake in Polly Market's rival, Calshy, he's an advisor
to both companies, Bobby Allen and PR News. This is NPR. California's legislature is set to vote today on changes to state wildfire law. The changes come in the week wake of last year's eaten fire, which heavily damaged the community of Altadina in Los Angeles County.
Guy Marserati from Member Station KQED reports. An investigation determine the eaten fire was caused by an out-of-service Southern California Edison Tower. State Senator Josh Becker says when utility equipment starts a destructive fire, the bill hero will limit bonuses for power company executives and create a system for wildfire victims
to quickly access payments from utilities. This is one of the most consequential pieces of legislation for victims and survivors of wildfires that we've ever done. Governor Gavin Newsom initially proposed shifting some fire liability away from utilities in hopes of lowering electric bills, but faced opposition from fellow Democrats.
For MPR News, I'm Guy Marserati in San Jose. It is day six of search and rescue at the border of Nepal and Tibet, where authorities say more than 11,000 have been rescued from last week's shocking flash floods. About 4,000 people are still missing, including nearly 600 foreign nationals. Nepal's National Disaster Agency says the number of people who have died from the crush
of mud and ice triggered by a falling glacier in the Himalayas has now surpassed 1,000, as rescue teams reach more remote areas previously cut off.
“In Tibetan Nepal, memorial services are being held to remember flood victims.”
I'm Duahli, Psycho Town, NPR News. Two products end up on Big Box Shows. We go inside the minds of the people who decide what goes on store shows.
