Stocks tumble…Consumer prices rise…Education Dept plans to cut 2nd rule policing for-profits
NEW YORK (AP) – Stocks are skidding in morning trading on Wall Street after a sharp drop in Europe on worries about the financial stability of Turkey. The Turkish currency nosedived amid concerns about the country’s economic policies and sanctions from the U.S. President Donald Trump says he is increasing a tariff on steel and aluminum imported from Turkey as a diplomatic dispute between the two countries continues. Banks are falling along with interest rates.
WASHINGTON (AP) – Consumer prices climbed 2.9 percent in July from a year earlier. The Labor Department said Friday that the consumer price index ticked up 0.2 percent in July, mostly from higher housing costs. Core prices, which exclude the volatile food and energy categories, rose 0.2 percent in June and 2.4 percent from a year ago. The rate of inflation that suggests that Americans are earning less than a year ago despite an otherwise solid economy.
WASHINGTON (AP) – The Trump administration plans to roll back another major Obama-era rule that was created to police the for-profit college industry. Education Department officials have proposed to rescind so-called gainful employment rules. The 2014 regulation threatened to cut federal funding to for-profit colleges that left graduates with high ratios of debt compared to their incomes. Federal officials now argue the rule wasn’t backed up by research and created burdensome reporting requirements.
NEW YORK (AP) – Facebook, YouTube, Twitter and other sites are finding themselves in a role they never wanted – as gatekeepers of discourse on their platforms, deciding what should and shouldn’t be allowed and often angering almost everyone in the process. The latest point of contention is Alex Jones. The right-wing conspiracy theorist suddenly found himself banned from most major social platforms this week after years of being allowed to use them. Critics from the right have assailed the companies who banned Jones for censorship and ideological bias, while others have criticized Twitter for allowing Jones to remain.
UNDATED (AP) – For many kids, summer means powering down for camp. America’s summer camps have gone device-free in a big way. Most sleepaway camps moved to ban personal electronics years ago, driven by the idea that campers should soak up the scenery, sports, crafts and camaraderie their parents are shelling out hundreds of dollars for. About 90 percent of the nearly 8,400 sleepaway camps counted by the American Camp Association are now device free, though some allow limited time with screenless iPods and other internet-free music players.