Iran said the Strait of Hormuz remains under its control, rejecting President Trump’s claim that the U.S. has “total control” over the strategic waterway. Tehran said ships cannot pass safely without Iranian permission, while tensions over shipping, oil prices and an oil spill continued.
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A single ticket sold in Illinois won Wednesday’s $1.04 billion Powerball jackpot after matching all five numbers and the Powerball. The prize was the eighth-largest in Powerball history and can be taken as a $450.5 million lump sum before taxes.
The Intercept and the Freedom of the Press Foundation sued President Donald Trump over Truth API, a paid Truth Social feed that gives subscribers faster access to his posts. Trump Media says the lawsuit is an attempt by “left-wing activists” to censor the president and harm shareholders.
Bob Iger and Josh Kushner have agreed to buy the Los Angeles Lakers from Mark Walter, with ESPN reporting the deal is worth more than $12.5 billion. The sale would require approval from the NBA’s board of governors.
Trump Media reported a $238 million second-quarter loss as cryptocurrency holdings weighed on results. The company says it will refocus on social media while rolling out a paid service giving traders faster access to Truth Social posts.
President Trump has sent Federal Reserve governor Lisa Cook formal notice that he is considering removing her over mortgage fraud allegations. The move follows a Supreme Court ruling that blocked his earlier attempt because Cook had not received required procedural protections.
The Senate voted 86-11 to pass a Russia and Iran sanctions bill renamed for the late Sen. Lindsey Graham. The measure targets Russian energy buyers and now heads to the House, where tariff provisions face scrutiny.
The U.S. economy unexpectedly lost 23,000 jobs in July, missing forecasts for solid gains and prompting sharp downward revisions to earlier months. The unemployment rate was 4.1%, but reports said the figure was influenced by people leaving the labor force rather than stronger hiring.