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This message comes from Schwab. Investing with Schwab is like a hike with endless trails. Go solo with self directed investing, take stops along the way with trading or choose a guide with full service wealth management. Whatever trails you take, you can invest your way with Schwab.
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Live from NPR News in Washington, I'm RYLAND Barton. The U.S. has launched a series of strikes against Iran after three merchant ships were struck in the Strait of Hormuz and the Trump administration reversed a decision today that allowed Iran to produce, sell and deliver crude oil for two months. NPR's Jackie Northam has more.
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Last month, the Trump administration swept aside long standing sanctions on Iran oil as part of an interim peace agreement. It was one of the sweeteners the US Offered in a bid to get Iran to open the Strait of Hormuz. The waivers allowed Iran to sell crude and other petroleum products on the open market, potentially pulling in between 8 and $10 billion in sales for the regime while the agreement was in place. The waiver was due to expire mid Aug but could have been extended by mutual consent. But after Iranian attacks on ships, the US Canceled the sanction waivers and started launching strikes in retaliation for the attacks on the commercial vessels. Jackie Northam, NPR News.
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States are seeking up to $1.4 trillion from Meta over claims the company designed Facebook and Instagram to addict young users. As NPR's Bobby Allen reports, that's nearly equal to the entire value of the tech giant.
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Meta revealed the number in a new court fil tied to an upcoming trial slated for August in Oakland. In the filing, Meta says the estimated damages are grossly exaggerated and have no basis in law. The case centers on claims that Meta violated child safety laws and misled consumers about the addictive nature of Facebook and Instagram. The maximum possible damages estimated by states is nearly the same as Meta's $1.5 trillion valuation. But states must first win the trial, and if they prevail, damages will be determined by the court. The the case this fall in Oakland follows two major courtroom losses for Meta in Los Angeles and New Mexico, where a jury awarded the state $375 million after finding the company knowingly harmed children's mental health. Bobby Allen, NPR News.
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Far right French leader Marine Le Pen says she'll run for president next year and legally challenge her embezzlement conviction. NPR's Eleanor Beardsley reports. A French appeals court has cleared the way, but is requiring her to wear an electronic monitor.
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Most people expected a clearer decision if the lower court verdict was fully upheld. Le pe to be barred from politics for five years, but the court gave her a suspended sentence and one year with an electronic bracelet if she'd been declared ineligible. Her national rally party's number two, Jordan Bardella, was to be the candidate for President. The 30 year old politician is very popular, especially with young people. Others call him an empty suit who lacks experience. Le Pen is a shrewd politician with decades of experience. But a guilty verdict on her head to the national rally now faces a difficult choice at a time when it's never been so popular and has a real chance at the presidency. Eleanor Beardsley, NPR News, Paris.
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U.S. stock indexes closed down today. This is NPR News. Colombia's President elect Alberto de la Esprilla has suspended the transition process with outgoing President Gustavo Petro. He accuses Petro of planning a coup to stay in power after Petro refused to recognize the country's election results. Pet alleged fraud in the June 21 runoff election without providing evidence, De la Esprilla has been endorsed by President Trump. In the past decade and a half, the blue crab population on Maryland's Chesapeake Bay has been falling while the average age of a crabber has been rising. NPR's Frank Lankfit met with some young crabbers to see the future of the industry.
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Jack Tornay is 23. He's been crabbing commercially for nearly a decade.
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I'm not seeing many juvenile crabs or as many as I'd like to see, so the crab population might not be great in the future.
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To maximize profits in a high overhead business, Tony sells directly to customers through Facebook. His colleague Luke McFadden, 30, has become a social media star, explaining crabbing to an audience of more than 3 million. Some fans drive for hours to meet him at his crab stand.
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It's real life storytelling that is playing out in real time. You know, it's crazy to me that all these people watch and people will come from wherever.
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As McFadden says, to make it as a crabber these days, you have to adapt. Frank Langford, NPR news, Glen Burney, MD.
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Government data shows that US airlines spent $6.66 billion on jet fuel in May, an 84% increase from last year. That's even though consumption was slightly lower from a year earlier. Fuel prices have eased since a U.S. iran ceasefire, but tensions remain. This is NPR.
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Support for NPR comes from the Wallace foundation, an independent nonpartisan research foundation collaborating with grantees and partners in the arts, school leadership and youth development. More@wallacefoundation.org.