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Florida has won a key court decision in a case involving a ban on social media accounts for kids under 14.
Gov. Ron DeSantis signed the law in 2024 as a way to protect kids from social media addiction. A federal appeals court overturned an injunction from a lower court. The appeals court says the law implicates the First Amendment but does so it in a way that is content neutral. The law bans social media accounts for Florida children under 14 and requires parental consent for kids who are 14 or 15.
GlobalFoundries to open two new chip plants
Semiconductor contract manufacturing and design company GlobalFoundries Inc. says it plans to open two chip-making factories in Malta, New York, financed by an investment of up to $21 billion from Japan.
The company said Wednesday the deal was made possible by the Trump administration's trade and investment agreement with Japan. GlobalFoundries says that roughly $10 billion would accelerate construction of a chip factory to open in 2029 and the other $10 billion would fund a second plant.
Inflation worsened last month to 3.7%
U.S. inflation accelerated last month as gas, clothes, and air fares got more expensive, evidence that rising prices remain an economic challenge just a few weeks before the midterm elections.
The consumer price index rose 3.7% in September compared with a year ago, the Labor Department said Wednesday, up from 3.4% in August. The figures underscore the lingering impact of the Iran war on gas prices and the stubborn persistence of inflation.
First new sunscreen type in 25 years has arrived
Americans have a new sunscreen option for the first time in over 25 years. The FDA approved the chemical ingredient BEMT back in June.
It's now available in products from brands like Neutrogena and others. The ingredient, already popular in Europe, offers broad protection without the cosmetic downsides of older ingredients. Dermatologists say BEMT fills a market gap by providing strong protection from ultraviolet light without leaving white streaks. It also has minimal skin absorption, reducing safety concerns. Unlike some older chemicals, BEMT is stable in sunlight.
US stocks drop to their worst day since July
U.S. stocks dropped to their worst day since July. The S&P 500 fell 1.1% Wednesday for its fifth loss in the six days since setting its all-time high. The Dow Jones Industrial Average slipped 0.1%, and the Nasdaq composite sank 1.9%.
A report showing inflation accelerated last month raised expectations on Wall Street that the Federal Reserve will raise interest rates. Making borrowing money more expensive could slow the build out of AI data centers, and AI stocks were the heaviest weights on the market.
Video rental privacy law gets fresh look
A 1988 law designed to protect the privacy of movie rentals in the age of Blockbuster Video is getting a fresh look from the Supreme Court.
The justices heard arguments Wednesday in a case testing how the decades-old statute fits in the modern era of digital commerce. A ruling by the justices could resolve a lower-court split over how a consumer qualifies for the law's protections. Consumer advocates say the Video Privacy Protection Act of 1988 was broadly written to adapt to advances in technology and safeguard consumers' personal information. The law's critics view it as a relic.