Johnson pushes temporary funding bill to avert October shutdown
House Speaker Mike Johnson advances a short term spending measure to avert a partial government shutdown beginning Oct 1 while mandating voter citizenship proof. The plan faces strong opposition in the Senate and from Democrats, who favor bipartisan talks or a six month extension with broader funding certainty.
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Instagram Makes Teen Accounts Private by Default
Meta will place all users under 18 into restrictive teen accounts starting in the U.S., U.K., Canada and Australia with EU users to follow later. Under-18s will have private accounts, limited DMs, restricted sensitive content, 60 minute activity alerts and a sleep mode from 10 p.m. to 7 a.m. Teens can turn off some controls, with parental consent for under 16. Meta faces lawsuits over youth harm and says new age-verify tech will curb fake adult accounts. The company emphasizes three parental concerns: unwanted content, unwanted contacts, and excessive use.
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Wall Street Holds Ground Ahead of Fed Rate Cut
U S stock indexes barely moved as investors weighed a likely Federal Reserve rate cut. Intel shares rose 2.7 percent on expanded AWS chip partnership and foundry plans, while Philip Morris fell 2.2 percent after forecasting a $220 million Q3 loss due to Vectura sale. The market eyed Fed action and the inflationary backdrop as the S P 500, Dow, and Nasdaq showed muted moves.
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Retail sales show resilience ahead of Election Day
U S consumer spending edged up 0.1 percent from July to August led by online retailers, sporting goods and home goods stores as inflation cools to a three year low. Despite higher rates and wage pressures, spending remains solid though discretionary sectors like restaurants show softness and gas stations and autos slipped.
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