Oil Prices Push Global Bond Yields to 2008 High

California Advances Under-16 Social Media Ban

Supreme Court Lets White House Ballroom Work Resume

Ternus Takes Apple Helm as Cook Becomes Chairman

Jury Convicts Davis in Tupac Shakur Killing

Oil Prices Push Global Bond Yields to 2008 High

Global government bond yields rose to their highest level since mid-2008 as climbing oil prices renewed concerns about inflation and further interest-rate increases. A bond yield is the return investors demand to lend money to a government, and rising yields can translate into higher borrowing costs across the economy. The sell-off began Friday after Federal Reserve Chair Kevin Warsh renewed his pledge to curb inflation, then continued as conflicts in the Middle East drove energy prices higher. Japan's 10-year government bond yield reached 3% for the first time since 1996, while Britain's 30-year yield hit its highest point since 1998 and the 10-year U.S. Treasury yield returned to levels last seen in January 2025. A Bloomberg measure of global government bond yields climbed for a fourth straight session Monday to 3.72%.

Bloomberg

California Advances Under-16 Social Media Ban

The California Assembly voted 74-0 on Aug. 31 to send Gov. Gavin Newsom a bill that would bar children younger than 16 from opening or keeping accounts on social media platforms that use what the measure calls addictive feeds. Assembly Bill 1709, introduced by Democratic Assemblymember Josh Lowenthal of Long Beach, covers features including infinite scroll, autoplay, algorithmic recommendations and engagement-driven notifications on services such as Instagram, TikTok, Snapchat and YouTube. The measure would take effect in January 2027 and be enforced by the state attorney general, but Newsom has until Sept. 30 to sign or veto it. The Electronic Frontier Foundation has urged a veto, arguing that age checks would require identity verification for all users and burden lawful speech, while a separate count by the Transparency Coalition found that lawmakers passed 26 artificial intelligence bills during the 2026 session. Because many affected companies are based in California, the policy could influence platform practices nationwide while facing the type of First Amendment challenges that have stalled similar laws elsewhere.

LB Post / Courthouse News / Transparency Coalition / EFF

Supreme Court Lets White House Ballroom Work Resume

The Supreme Court voted 5-4 on Aug. 31 to lift lower-court orders that had stopped aboveground work on a new White House ballroom, allowing construction to continue while a lawsuit proceeds. The unsigned order did not decide whether the project is legal, instead finding that the National Trust for Historic Preservation probably could not show the concrete injury required to bring the case. A district judge ruled in March that the work could not proceed without congressional approval, and Chief Justice John Roberts later issued a temporary administrative pause while the full court considered the administration's emergency request. The administration maintains that the president has authority over the White House grounds, where the East Wing has already been demolished for the roughly $400 million project. The decision could determine the practical result before the lower courts settle the legal dispute and could also make it harder for preservation groups to challenge future changes to federal landmarks.

NBC News / CNN / SCOTUSblog / PBS

Ternus Takes Apple Helm as Cook Becomes Chairman

John Ternus became Apple's chief executive Sept. 1, succeeding Tim Cook in the company's first leadership change since Cook took over from Steve Jobs in 2011. Apple announced the transition April 20 after a unanimous board vote and said Cook would become executive chairman while continuing some outside work, including relations with governments. Ternus, 50, joined Apple in 2001 and had led hardware engineering since 2021, overseeing the iPhone, iPad and Mac product lines and the company's move to its own processors. He inherits a company valued at more than $3 trillion that also faces antitrust cases in the United States and Europe, tariffs on imported electronics and questions about its position in artificial intelligence. His leadership carries broad economic consequences because Apple's weight in major stock indexes and its decisions on supply chains, app-store rules and privacy affect investors, businesses and consumers.

Apple / 9to5Mac / TechCrunch / MacRumors

Jury Convicts Davis in Tupac Shakur Killing

A Clark County jury found Duane "Keffe D" Davis guilty Aug. 31 of first-degree murder in the 1996 drive-by shooting that killed rapper Tupac Shakur on the Las Vegas Strip. Prosecutors said Davis, 63, led a group affiliated with the South Side Compton Crips and arranged the shooting in retaliation for an earlier assault on his nephew, though he was not accused of firing the shots. Nevada law permits a murder conviction for helping another person commit the crime, and jurors returned their verdict in less than three hours after a trial that lasted several weeks. The case remained unsolved for 27 years before Davis was arrested in 2023 after describing his role in a memoir and recorded interviews that his defense characterized as entertainment rather than a confession. Davis faces a possible life sentence when he is sentenced Oct. 13, while the conviction resolves the narrow question of criminal responsibility in a killing that remained prominent in American culture for three decades.

CBS News / NBC News / ABC News / CNN / ABC7 New York

SEPTEMBER 1, 1985: WRECK OF THE TITANIC FOUND

Seventy-three years after the ocean liner sank in the North Atlantic, a joint U.S.-French expedition located the Titanic’s wreck about 400 miles east of Newfoundland. Using the experimental unmanned submersible Argo, the team spotted debris and one of the ship’s massive boilers nearly 13,000 feet below the surface, leading to the discovery of the broken but remarkably preserved hull.

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Sources

1. Bloomberg
2. LB Post / Courthouse News / Transparency Coalition / EFF
3. NBC News / CNN / SCOTUSblog / PBS
4. Apple / 9to5Mac / TechCrunch / MacRumors / 9to5Mac
5. CBS News / NBC News / ABC News / CNN / ABC7 New York