peel back effect

AP Business SummaryBrief at 1:47 p.m. EDT

Posted 10/21/26

Meta ordered to pay New Mexico $25 billion for deceiving users about privacy on Facebook

A judge has ordered Meta to pay New Mexico $25 billion after a jury found the company liable for deceiving …

delmar logo

You must be a member to read this story.

Join our family of readers for as little as $14.99 per month and support local, unbiased journalism.


Already a member? Log in to continue.   Otherwise, follow the link below to join.

Please log in to continue

Log in

AP Business SummaryBrief at 1:47 p.m. EDT

Posted

Meta ordered to pay New Mexico $25 billion for deceiving users about privacy on Facebook

A judge has ordered Meta to pay New Mexico $25 billion after a jury found the company liable for deceiving users about privacy and content moderation on Facebook. At a news conference Wednesday, state Attorney General Raúl Torrez described it as “one of the largest, if not the single largest state verdict against a company in American history.” The ruling follows a September decision in which jurors found Meta responsible for over 43 million violations of state consumer protection laws. The violations stem from the Cambridge Analytica scandal, where user data was harvested for political ads in the 2016 election. New Mexico pursued the case independently after 48 other states settled. Meta is expected to appeal.

A First Nation community in Canada is using a data center to preserve its heritage

WIIKWEMKOONG UNCEDED TERRITORY, Ontario (AP) — The Wiikwemkoong First Nation in Canada is using a data center to help preserve its heritage. The data center on the Wiikwemkoong Unceded Territory in rural Ontario stores digital files, including Anishinaabe language videos. Chief Tim Ominika emphasizes the importance of protecting the community's language and data. The idea of digital sovereignty has gained momentum in places like Europe, where leaders are wary of the widespread influence of American Big Tech. For the Wiikwemkoong First Nation and other Indigenous communities, it is also about asserting authority over their own information after historically being excluded from its collection and use by colonizers.

Some websites go dark as operators address an AI-detected flaw in a web programming language

The FBI’s cyber division warned Wednesday about the discovery of two “critical vulnerabilities” in PHP, a widely used programming language that powers many websites and web applications. The FBI said the vulnerabilities could allow malicious actors to remotely execute code in PHP core, potentially compromising sensitive data and networks. The PHP Foundation, which includes developers who work on securing and working on the programming language, said Wednesday it has released fixes for the vulnerabilities along with instructions on how to update systems.

UK government approves a natural gas project off Scotland despite environmental concerns

LONDON (AP) — The U.K. government has approved a natural gas project off Scotland's coast despite environmental objections. Officials say the Jackdaw field will enhance energy security as the country shifts to renewable sources. Gas from Jackdaw which was stalled by a court ruling in 2024 is expected to flow into Britain's network later this year. This move aims to reduce reliance on foreign energy amid conflicts in the Middle East and Ukraine. Energy Minister Miatta Fahnbulleh approved the project on Wednesday. She said that the decision supports energy security with homegrown gas. The government remains committed to eliminating net carbon emissions by 2050.

Wall Street ticks higher after SpaceX helps lift AI stocks

NEW YORK (AP) — The U.S. stock market is ticking higher as strong profit reports from SpaceX, Capital One Financial and other big companies offset updates from Netflix and AT&T that investors found disappointing. The S&P 500 rose 0.6% Wednesday. The Dow Jones Industrial Average added 205 points, and the Nasdaq composite climbed 1.2%. A much better profit report from SpaceX than analysts expected helped lift several other AI-related stocks, along with Elon Musk's other company, Tesla. That made up for losses by Netflix and other stocks hurt by worries about upcoming growth. Treasury yields eased in the bond market as oil prices continue to swing.

A 'golden age' vs. 'we're working on it': Trump and Vance give different pitches on the economy

WASHINGTON (AP) — When Vice President JD Vance speaks on the campaign trail about the high costs Americans are facing, he often says he understands that people are hurting. But in the way President Donald Trump talks about affordability concerns, the pain is often his. Depending on which Republican is speaking, Americans are getting a different perspective on how bad things are with the economy. Trump says “the golden age of America is upon us.” Vance walks a tightrope to show that he knows voters are feeling an economic pinch while still selling them on Trump’s agenda.

FACT FOCUS: When it comes to Trump's economy, these are the numbers that matter before Nov. 3

WASHINGTON (AP) — President Donald Trump is trying to convince voters before the Nov. 3 midterm elections that the U.S. economy is rocketing upward. But voters say inflation remains a challenge as the Iran war has pushed up gasoline prices. Grocery bills remain expensive, and high interest rates make it harder to afford a home or a new car. Trump had promised to quash inflation. While inflation hasn't returned to peaks seen during President Joe Biden's term, it has climbed since April 2025. Interest on the 10-year U.S. Treasury note is above 5%. Meanwhile, the gap has widened between gains for the top 0.1% of households and the bottom half of households.

It's not just gas and groceries. Childcare costs weigh on some voters before the midterm elections

Rising childcare costs are a factor for parents weighing how to vote in November's midterm elections. In Pennsylvania's hotly contested 7th Congressional District, both candidates are making childcare part of their pitch to voters. Democratic nominee Bob Brooks supports universal prekindergarten and increased federal childcare assistance. Republican Rep. Ryan Mackenzie, the incumbent, favors bigger tax breaks for families paying for childcare and employers who subsidize it for their workers. Childcare costs have risen faster than inflation from 2020 to 2024. The Campaign for a Family Friendly Economy said it has spent $60 million this year to support Democratic candidates, who have historically favored bigger-ticket childcare investments.

Nvidia CEO encourages Europe's lagging AI sector and offers tools to accelerate data center buildout

BERLIN (AP) — Nvidia CEO Jensen Huang urged Europe’s lagging artificial intelligence industry to get going and touted a modular system to quickly build the AI data centers with the massive computing power Europe currently lacks. In an upbeat speech Wednesday at a company conference for developers and investors in Berlin, Huang also laid out tools to keep AI applications from running amok by confining them in a digital “sandbox” that restrains activities violating company policy.

UK inflation rise to highest in almost a year as Iran war drives fuel prices higher

LONDON (AP) — Inflation in the U.K. has risen to its highest rate in almost a year as the Iran war continues to drive up fuel prices. Official figures show consumer prices rose by 3.5% in the year to September, up from 3.1% in August. This increase takes inflation further above the Bank of England's target rate of 2%. Prices across the transport industry were the biggest contributor to higher inflation last month, particularly at the pump. Economists expect the Bank of England to increase interest rates at its next meeting on November 5. Most economists expect an increase in the bank's main rate to 4%.

Members and subscribers make this story possible.
You can help support non-partisan, community journalism.

x
X