Supreme Court urged to strike down TikTok ban law
Free speech and tech groups urge the Supreme Court to invalidate a law that would ban TikTok in the United States by forcing ByteDance to divest its U S arm. Advocates argue the measure harms American businesses and constitutional rights while not stopping foreign misinformation. The law hinges on app store removal by Apple and Google and possible delays by the next administration.
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FDA bans Red Dye No 3 from foods nationwide
U S regulators on Wednesday banned the dye known as FD C Red No 3 from the nation s food supply citing cancer risk in lab rats under the Delaney Clause The action ends authorization for Red No 3 in foods and ingested drugs with manufacturers given deadlines to remove it by January 2027 for foods and January 2028 for ingestible medicines Advocates praised the move while legality challenges from industry remain possible
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Wall Street climbs on inflation data and bank profits
U S stocks rose sharply on optimism about inflation trends and robust Wells Fargo earnings. The S P 500 jumped 1.8 percent, the Dow surged 703 points, and the Nasdaq gained 2.5 percent as traders weighed how underlying inflation and Fed policy may unfold this year.
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SEC sues Musk over late Twitter disclosure
The SEC sues Elon Musk for failing to disclose over 5 percent Twitter ownership in early 2022, saying he underpaid for shares bought after the report was due. Musk bought Twitter in October 2022, later renaming it X, with his lawyer labeling the suit a sham and the SEC campaign as harassment. The agency began investigating securities law breaches in April 2022, while Gary Gensler plans to step down as chair.
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