1Businessdenver7.com
Are big retailers going to share their billions of dollars in tariff refunds?
Walmart, the largest retailer in the U.S., reported a 2.6% increase in sales at US stores in the second quarter, the slowest quarterly growth the company has seen in six years. The company's total profit and revenue exceeded expectations, largely due to $2.9 billion in tariff refunds. This comes a day after Target announced it was receiving $994 million in tariff refunds. However, Jonathan Ernest, an assistant professor of economics at Case Western Reserve University, warned that while companies might be able to lower prices, they might not be able keep those discounted. The threat of new or increased import taxes remains with President Trump using tariffs as an economic and diplomatic tool.
2Businesstimesofindia.indiatimes.com
Sensex CAS manipulated using large orders: Sebi
The first Sebi order relating to the recently introduced Closing Auction Session (CAS) system revealed that large institutions could manipulate the system to profit from loss-making trades. On Aug 13, Copthall Mauritius, an arm of JP Morgan, placed orders worth over Rs 191 crore in sensex constituents, which was 87% of the total value of all trades. The next high-value trade was worth Rs 12.2 crore, or 5.5% of trade. The Sebi investigation found that Copthalls placed almost all buy orders, most of which were substantially above the'reference price', leading to a 362-point rise in senseX value. Mansi Share & Stock Broking also followed a similar strategy to turn options contracts, which otherwise would turn worthless on the expiry day, profitable through large order placement and then cancellation of those orders. Sebi banned both entities from the market and ordered them to disgorge illegal gains of nearly Rs 3 crore from Copthill Mauritius and Rs 76 lakh from Mansi Broking.
3Politicssa.marketscreener.com
Democratic California state legislator Wahab wins US House seat, media projects
Democrat Aisha Wahab, a member of the California state Senate, is projected to win a special election to fill a vacant seat in the US House of Representatives. She defeated Democrat Melissa Hernandez, an official with the San Francisco Bay Area mass transit system. Once sworn in, Wahab will fill the seat held by Democratic Representative Eric Swalwell, who resigned in April amid allegations of sexual misconduct. This will give Democrats 213 seats in the House, while Republicans will hold 218. The race was heavily influenced by outside spending, including from the American Israel Public Affairs Committee, a pro-Israel lobbying group whose super PAC had spent nearly $2.5 million to boost Hernandez. The winner of the election will hold the congressional seat for a full two-year term.
4Sportspgatour.com
Rory McIlroy makes quick turnaround for five-way share of BMW Championship lead; Scottie Scheffler fades
Rory McIlroy shares a five-way lead at the BMW Championship after a quick turnaround from a four-week break after The Open. Despite not breaking par in any of the four rounds at the FedEx St. Jude Championship, McIlory failed to score in any event for the first time in over five years. The course at Bellive was designed by Robert Trent Jones Sr. and later updated by his son, Rees. Gary Woodland, another two-time U.S. Open champion, managed to score an eagle and not miss a green until the 18th hole. Wyndham Clark and J.J. Spaun also had successful rounds. McIloy is currently ranked No. 31 in the FedExCup and only the top 30 qualify for the TOUR Championship next week.
5Financeajupress.com
Foreign investors continue selling South Korean stocks while buying bonds
Foreign investors have continued their selling streak in South Korean stocks, extending it to seven consecutive months. They sold over 31 trillion won worth of listed shares in July, including 30.78 trillion won on the main KOSPI and 889 billion won on its junior KOSDAQ. Meanwhile, they remained net buyers of domestic bonds for a fourth consecutive month, investing about 2.4 trillion won. Foreign holdings of South Korean stock fell to 2,255 trillion won at the end of July, accounting for 35.8 percent of total market capitalization, down 653 trillion won from 2,909 trillion won the previous month. Foreign investors held 336 trillion won in listed bonds at the time, up 1.3 trillion won and accounting for 11.7 percent of all outstanding bonds. They mainly invested in longer-term bonds and government bonds.
6Entertainmentdailynews.com
African musician Angelique Kidjo receives Hollywood Walk of Fame star
Five-time Grammy-winning musician Angélique Kidjo became the first African artist to receive a star on the Hollywood Walk of Fame. The ceremony took place at 7011 Hollywood Blvd. and was attended by actor Willem Dafoe and Recording Academy CEO Harvey Mason Jr. Kidjo and Dafee have been friends since she was introduced to him following his performance in the play “To You, The Birdie!” in Brooklyn in 2002. During the ceremony, Kidjo reflected on Africa's cultural influence and is the first Black African musician to receive this honor.
7Techmacaudailytimes.com.mo
Why social media algorithms send you posts you don’t like
Research by the Proceedings of the National Academy of Sciences has found that social media algorithms may prioritise content that clashes with your values. The study, which looked at the feeds of 715 U.S.-based X users, found that while X’s algorithm promotes content contradicting the values of Democratic and Republican users, it does so more for Democrats. The research also found that the algorithm was more likely to promote conflicting content than aligned content. This tendency was stronger among self-identified Democrats than Republicans. The researchers suggest that value-aligned feeds could offer a path out of echo chambers that unmediated exposure to opposing views does not. They also suggest that platforms should provide tools that support the values and actions people care about.
8Worldnewtelegraphng.com
Japan Commits N20bn To Boost Electricity Transmission In Lagos
The Japanese Government has committed N20 billion to the expansion and rehabilitation of Nigeria's national electricity grid, with the funding going towards the expansion of the Apapa Transmission Substation in Lagos. The project involves construction works, equipment procurement, engineering services, operational training and implementation support. The Chief Representative of JICA, Ishigame Keiji, stated that the project has improved operational reliability, strengthened grid stability and reduced bottlenecks affecting power evacuation and distribution within Lagos and surrounding areas. He also noted that Japan is also implementing another Official Development Assistance (ODA) project through a concessional loan to enhance the transmission network across Lagos-Ogun areas. This commitment is part of a broader expansion of economic and development cooperation between Nigeria and Japan.
9Techmediaselangor.com
Google cites Selangor’s enabling environment for data centre investment
Google's decision to select Selangor as the site for its first data centre in Malaysia was driven by the state's facilitative approach and enabling environment, according to its Asia Pacific Global Infrastructure principal Ken Siah. He highlighted Invest Selanger Bhd's cooperation and support as a notable example, given its willingness to work with Google to advance the state’s broader interests. Siah also highlighted the rigorous site selection process, including environmental assessments, water risk assessments, and community considerations. The project is expected to generate over US$3.2 billion in positive economic impact by 2030. As part of its community engagement in Selangore, Google has established the Future Skills for All programme with Arus Academy to teach schoolchildren basic skills for the digital economy.
10Healthgringogazette.com
Los Cabos Halts Livestock Entry to Stay Screwworm-Free - Gringo Gazette
Los Cabos, Mexico, has suspended the entry of live cattle and livestock into Baja California Sur as part of a statewide effort to prevent the spread of screwworm, a parasitic pest that has been confirmed in 30 of Mexico's 32 states. The decision was announced by the municipality's Rural Development office on August 19, following instructions from SENASICA, the federal agricultural safety authority, and Sepada, the state agriculture secretariat. The suspension affects cattle, goats, sheep, pigs and horses, and remains in effect until further notice. Meat supply will continue as processed carcasses meet federal sanitary standards. The New World screworm is a larval parasite that infests open wounds in warm-blooded animals and can cause severe tissue damage, infections and death if left untreated. Los Cabos officials say the policy is not intended to harm the livestock sector but aims to maintain its status as one of only two Mexican states still untouched by the parasite.
