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NEW YORK (AP) — Stocks fell sharply on Wall Street Thursday as high-flying technology companies took a tumble after months of spectacular gains. The benchmark S&P 500 lost 3.5%, its biggest loss since June, and the tech-heavy Nasdaq fell 5%. Both indexes set record highs a day earlier. Apple, the most valuable U.S. company, slumped 8%. Big Tech companies have made outsize gains this year as investors bet that they would continue posting huge profits, even with many coronavirus restrictions still in place, as people spend more time online with their devices. Some worry those tech companies will be hit hard in a souring US-China relationship and any future tariffs, according to CNN. Treasury yields fell as cautious investors shifted money into bonds. 770
NEW YORK — A judge says Mary Trump can talk about the highly critical book she wrote about her uncle over the objections of President Donald Trump's brother. The ruling was issued late Monday by Judge Hal B. Greenwald in Poughkeepsie. The judge reversed orders he had issued temporarily blocking Mary Trump and her publisher, Simon & Schuster, from publishing or distributing a tell-all book about the president. An appeals judge had already lifted the order blocking Simon & Schuster. The book, “Too Much and Never Enough: How My Family Created the World’s Most Dangerous Man,” was originally to be published at the end of July. The publisher announced last week it would be published Tuesday. Simon & Schuster and a lawyer for Mary Trump praised the ruling. 779
NEW YORK (AP) — President Donald Trump’s former personal lawyer and fixer, Michael Cohen, has been returned to federal prison.The federal Bureau of Prisons told The Associated Press on Thursday that Cohen had “refused the conditions of his home confinement.”Cohen’s return to prison comes after the New York Post caught him on camera eating a Manhattan restaurant.The move comes weeks after the 53-year-old was released in late May to serve the remainder of his sentence at home because of the coronavirus pandemic.Cohen pleaded guilty to tax evasion, campaign finance fraud and lying to Congress and began serving his sentence in May 2019, scheduled to remain in prison until November 2021. 699
NORFOLK, Va. (AP) — The U.S. government will try to stop a company's planned salvage mission to retrieve the Titanic's wireless telegraph machine. Federal attorneys are arguing the expedition would break federal law and a pact with Britain to leave the iconic shipwreck undisturbed.In their filing, the agreement with the U.K. says disturbing the Titanic where so many lives were lost should be respected. U.S. attorneys filed a legal challenge before a federal judge in Norfolk, Virginia, late Monday. The expedition is expected to occur by late August. The U.S. government filed its challenge before the same federal judge who ruled last month that the salvage firm could recover the radio. Its distress calls to other ships are credited with saving the lives of some 700 people after the Titanic struck an iceberg in 1912. 833
NEW YORK CITY — The principals and teachers unions are calling for New York City to delay school reopening for at least a month.While most major cities have opted to start the school year virtually, New York City still plans on resuming in-person. Mayor Bill de Blasio responded while touring Village Academy in Far Rockaway, Queens on Wednesday with Schools Chancellor Richard Carranza."Unions will always sound various alarms and unions will say things sometimes in a very dramatic fashion, this is nothing new in New York City," de Blasio said. "But the question is really, what is the mission? The mission is to take care of our kids."Jacob Stebel, a high school film teacher in the Bronx, said a pod system, where students would be taught in groups in a single classroom, won’t work with high schoolers.“Students will be grouped by the classes they have to take together, instead of students moving from classroom to classroom, teachers are moving from classroom to classroom," Stebel said.That would put him in six to seven different classrooms a day with just as many groups of students.“If I have to go into eight different classrooms a day, I have to set up my materials again,” he said.According to the mayor and city’s top educator, with a month to go, they’re still working through the details."One of the things we're working on right now, and, again, with a month to go, is how can we compress things so even at the middle school and high school level, there's less movement," de Blasio said. "And it might look different than a normal school year, but it's the – we just need to get one school year in, in this fashion."De Blasio maintained the first day of school would be Sept. 10.This article was written by Jennifer Bisram for WPIX. 1759
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