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Fed reports most rental aid still hasn’t gone out
Boston: Only 11% of the tens of billions of dollars in federal rent aid has been distributed to help tenants across the country avoid evictions. The latest data from the Treasury Department, which oversees the program, shows the pace of distribution increased from June to July and has helped nearly a million families. But with landlords challenging a federal eviction moratorium in court, there are concerns that there will be a wave of evictions before more aid can be distributed. Lawmakers approved spending $46.5 billion on rental assistance, and most states are now disbursing the first installment of $25 billion.
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Biden tackles cybersecurity with tech, finance leaders
WASHINGTON: President Joe Biden is meeting with top executives from some of the nation’s leading technology companies and financial institutions as the White House urges the private sector to help strengthen cybersecurity defenses against increasingly sophisticated attacks. Wednesday’s summit comes during a relentless spate of ransomware attacks that have targeted critical infrastructure, in some cases with attackers receiving multimillion-dollar payouts from major corporations, as well as other illegal cyber operations that US officials have linked foreign hackers. Although ransomware is a focus of Wednesday’s gathering, a senior administration official said the purpose of the meeting is broad and focused on identifying the root causes of malicious cyber activity.
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Delta will charge non-vaccinated employees $200 per month
ATLANTA: Delta Air Lines won’t force employees to get vaccinated, but will pay a $200 monthly fee to unvaccinated workers. Delta said on Wednesday it would also require weekly testing for unaffiliated employees starting next month, though the airline says it will bear the cost of that testing. Delta isn’t going as far as United Airlines, which will require employees to get vaccinated or face termination by the end of September. Delta and United both need new employees for vaccinations. Other airlines are encouraging workers to take the shot, but they are not required to.
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Modest gains produce more record highs for S&P 500, Nasdaq
NEW YORK: Wall Street shares rose again on Wednesday, marking more milestones for the S&P 500 and Nasdaq. The S&P 500 added another 0.2%, its fifth consecutive gain. Banks and energy companies led higher. Banks benefited from an increase in bond yields, which allowed them to charge higher interest rates on loans. JPMorgan Chase climbed 2.1%. Trading has slowed this week as the company’s earnings report tumbled and traders wait to see if any news emerges from the Federal Reserve conference later this week. The yield on the 10-year Treasury note rose to 1.35%.
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OnlyFans reverses explicit content ban after shouting
NEW YORK: OnlyFans says it has suspended plans to ban explicit sexual content after protests from its producers and advocates for sex workers. The company says the ban is no longer needed due to assurances from its banking partners. OnlyFans said last week that it would ban explicit content from October 1 and blamed requirements on banks and payment processors for the policy change. Many creators threatened to go for other websites. Advocates criticized the planned ban by OnlyFans, saying it could put sex workers at greater risk if they do not have an online outlet.
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Purdue: Better settlement for states than continuing lawsuits
NEW YORK: A Purdue Pharma attorney says states would get more money out of a settlement with the company if they were allowed to continue suing the OxyContin maker and members of the Sackler family, which owns it. The warnings came on Wednesday as part of the final day of a week-long hearing on whether a judge should approve a plan to settle some 3,000 lawsuits over opioids through the bankruptcy process. Purdue says if the lawsuits were allowed to continue, there would be less money to go around. But an attorney in some states says its potential Sackler family members could be made to pay more.
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New Asian American bakeries find bicultural sweet spot
Oakland, California: From ube cakes to cobbler muffins, bakeries that sweetly amalgamate Asian and American grown-ups have been popping up more in recent years. Her choice is a recreational vehicle for young and fearless Asian Americans to celebrate their dual identity. Ingredients that they found embarrassing because children are being paired with European or traditional American pastries to create something new. Treats like dim sum cookies and cobbler muffins will not be found in any bakery in Asia. Some bakers see their stores as a way to dispel culinary and social misconceptions, especially in times of rising anti-Asian hate crimes.
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Asian, Black Americans more likely to deliver racial justice
NEW YORK: Donations to racial and social justice ticked up 16% of American households in 2020, a report released Wednesday said. The bump in giving came as donors raced to provide aid to affected communities in a year marked by protests and increased attention. On racism in America. The study, conducted by Indiana University Lilly School of Philanthropy, found that all demographic groups contributed to the increase. However, it does say that Asian American and black families were more likely to donate to such causes. The study found that contributions came from about a third of Asian American households and 19% from Black households.
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The S&P 500 gained 9.96 points, or 0.2%, to end at 4,496.19. The Dow Jones Industrial Average rose 39.24 points, or 0.1%, to 35,405.50. The Nasdaq rose 22.06 points, or 0.1%, to 15,041.86, while the Russell 2000 Index of Small Companies rose 8.36 points, or 0.4%, to 2,239.27.
Disclaimer: This post has been self-published from the agency feed without modification and has not been reviewed by an editor
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