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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Aug 26, 2021
Page
5
Stocks edged higher on Wednesday led by financials and energy. The S&P 500 rose 0.2 percent to 4496.19 with a fifth straight gain as bond yields climb and banks rally while health care and tech lag. Dow +0.1 percent and Nasdaq +0.2 percent. The Rus sell 2000 up 0.4 percent.
A Purdue Pharma lawyer argues to a New York bankruptcy judge that the proposed settlement of opioid lawsuits is preferable to ongoing litigation. The plan would shield Sackler family members from lawsuits while valuing the company enough to fund claims, though some states contend they should maintain litigation. Judge Robert Crain planned a ruling on whether to accept the plan, amid objections over protections for Sacklers and the potential for broader public creditor claims.
President Biden meets with top executives from Apple Amazon Alphabet IBM Microsoft and ADP along with financial institutions to bolster private sector defenses against ransomware and other cyber threats. Officials say the aim is to identify root causes of malicious activity and raise overall cybersecurity standards.
Two lawmakers, Rep. Seth Moulton and Rep. Peter Meijer, faced condemnation after a secret Kabul visit that diverted evacuation resources. Pelosi called it not a good idea, while McCarthy urged others not to go. Both veterans defended oversight aims amid a chaotic withdrawal and deadline pressure.
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