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Business
Dow Drops 1,000 Points: US Stock Market In Free Fall, Wiping Away Trillions In Capital Dow Drops 1,000 Points: US Stock Market In Free Fall, Wiping Away Trillions In Capital
Dow Drops 1,000 Points: US Stock Market In Free Fall, Wiping Away Trillions In Capital Investors hoping the major dip in the stock market last week was just a blip were greeted with even more losses on Monday, Aug. 5, as fears of a recession and global turmoil sent stocks tumbling. The Dow Jones Industrial Average fell 1,200 points at one point but closed 1,000 down. The S&P 500 dropped more than 3 percent and the Nasdaq fell 3.4 percent.  The massive sell-off began on Friday after a US jobs report showed that employer hiring in July had slowed more than analysts had predicted. Investors were already on edge over fears the US Federal Reserve had left interest ra…

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by Josh Lanier
News
Tropical System In Atlantic Could Become Named Storm, Affect East Coast: What To Know Now Tropical System In Atlantic Could Become Named Storm, Affect East Coast: What To Know Now
Tropical System In Atlantic Could Become Named Storm, Affect East Coast: What To Know Now A new tropical rainstorm in the Atlantic may strengthen into a named storm and affect parts of the East Coast. According to the National Hurricane Center, a tropical depression could form late this week while the system is near the Greater Antilles or the Bahamas. (See the first image above.) It could become a named storm as soon as this weekend. If that's the case, it will be called Debby. “Right now, this tropical rainstorm has a 60 percent chance of strengthening into a named storm no sooner than this weekend or early next week," AccuWeather Chief On-Air Meteorologist Bernie Rayno …

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by Joe Lombardi
Politics
Biden Withdraws From 2024 Presidential Race, Endorses VP Kamala Harris To Be New Nominee Biden Withdraws From 2024 Presidential Race, Endorses VP Kamala Harris To Be New Nominee
Biden Withdraws From 2024 Presidential Race, Endorses VP Kamala Harris To Be New Nominee President Joe Biden has just announced he is pulling out of the 2024 race against Republican nominee Donald Trump. In a letter to "My Fellow Americans" released just before 2 p.m. Sunday, July 21, Biden said: “It has been the greatest honor of my life to serve as your president. “And while it has been my intention to seek re-election, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as president for the remainder of my term.” The news comes amid concerns over the 81-year-old Biden's health, which were loudly …

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by Joe Lombardi
Politics
Former Trump Hater J.D. Vance Selected As Donald Trump's VP Candidate Former Trump Hater J.D. Vance Selected As Donald Trump's VP Candidate
Former Trump Hater J.D. Vance Selected As Donald Trump's VP Candidate Former President Donald Trump unveiled his vice presidential running mate late Monday afternoon, July 15.  US Sen. J.D. Vance of Ohio, age 39, was announced as the pick by Trump on Truth Social just ahead of his appearance at the Republican National Convention in Milwaukee. The post reads as follows: "After lengthy deliberation and thought, and considering the tremendous talents of many others, I have decided that the person best suited to assume the position of Vice President of the United States is Senator J.D. Vance of the Great State of Ohio. J.D. honorably served our Country in the Ma…

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by Jillian Pikora
News
Costco Raising Membership Fees In US, Canada Costco Raising Membership Fees In US, Canada
Costco Raising Membership Fees In US, Canada The Costco Wholesale Corporation has announced membership hikes in the US and Canada for the first time in seven years, according to a news release by the company issued on Wednesday, July 10.  Costco opened the release sharing a June sales growth in the US of 5.6%, which is higher than the past 44 weeks of just 4.4%, the company experienced a decrease in revenue internationally.  On the heels of sharing that news, the company made the announcement about raising the membership fees in both the US and Canada beginning Sept. 1.  Annual memberships are rising $5 making them $65…

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by Jillian Pikora
News
COVID-19: New Highly Contagious KP.3 'FLiRT' Variant Now Accounts For Majority Of US Cases COVID-19: New Highly Contagious KP.3 'FLiRT' Variant Now Accounts For Majority Of US Cases
Covid-19: New Highly Contagious KP.3 'FLiRT' Variant Now Accounts For Majority Of US Cases A new highly contagious COVID-19 variant known as KP.3 now accounts for most infections in the United States. Data from the  Centers for Disease Control and Prevention (CDC) shows that in a two-week period ending Saturday, June 8, the strain made up 25 percent of cases nationally, just ahead of the KP.2 variant (22.5 percent). Both KP.3 and KP.2 are offshoots of the highly contagious Omicron variant and are members of a newly identified group of variants known as  “FLiRT.”  COVID-19: New 'FLiRT' Variants Now Dominant In US Neither is expected to cause more serious symptom…

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by Joe Lombardi
Business
Updated List Of Scheduled Red Lobster Closures Includes 5 New NY Locations Updated List Of Scheduled Red Lobster Closures Includes 5 New NY Locations
Updated List Of Scheduled Red Lobster Closures Includes 5 New NY Locations Red Lobster plans to close more restaurants just weeks after it filed for bankruptcy, according to a new report. In a bankruptcy petition filed on Sunday, May 19, the company listed assets of $1 billion and liabilities of $10 billion. Days before the filing, dozens of Red Lobster locations were listed as "temporarily closed" on the company's website, including these New York locations: Kingston, Scarsdale, Nanuet, Poughkeepsie, Stony Brook In an updated list of closures reported by CNN on Thursday, June 6, five new locations in New York have been added to the list, including it…

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by Joe Lombardi
Business
Red Lobster Files For Bankruptcy After Abruptly Closing Dozens Of Restaurants Red Lobster Files For Bankruptcy After Abruptly Closing Dozens Of Restaurants
Red Lobster Files For Bankruptcy After Abruptly Closing Dozens Of Restaurants Red Lobster has filed for bankruptcy just days after closing dozens of its restaurants. In its bankruptcy petition filed on Sunday, May 19, the company listed assets of $1 billion and liabilities of $10 billion. The filing stated that the company "intends to use the proceedings to drive operational improvements, simplify the business through a reduction in locations, and pursue a sale of substantially all of its assets as a going concern." The company said restaurants not listed as "temporarily closed" on its website will remain "open and operating as usual during the Chapter 11 process."…

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by Joe Lombardi
News
Travel Advisory For US Citizens Issued By State Department: Here's What To Know Travel Advisory For US Citizens Issued By State Department: Here's What To Know
Travel Advisory For US Citizens Issued By State Department: Here's What To Know The US State Department has just issued a worldwide travel advisory for Americans. The statement, issued Friday, May 17, warns of the “potential for terrorist attacks, demonstrations, or violent actions against US citizens and interests.” The department said it is advising US citizens overseas to exercise increased caution.  "The Department of State is aware of the increased potential for foreign terrorist organization-inspired violence against LGBTQI+ persons and events," the statement noted. The department said US citizens should: Stay alert in locations frequented by tourists, in…

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by Joe Lombardi