Coast Guard rescue, professor Peyton Manning, and butter athletes.

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Business & Economy

Daily stock market update

US stock markets closed higher on Monday (S&P +0.58%, Nasdaq +1.05%, Dow +0.07%) ~ Stocks bounced back on Monday after last week’s selloff put a dent in the summer rally. (More)

UBS to pay $1.4 billion over fraud in residential mortgage-backed securities

UBS has agreed to pay $1.4 billion in penalties for allegedly defrauding investors by selling mortgage-backed securities that blew up during the Great Recession. The DOJ claimed the bank knew it was making false and misleading statements to buyers of the investments issued in 2006 and 2007. The settlement resolves the final case brought by the DOJ to investigate the role of Wall Street firms in the 2008 financial crisis. (More)

Hawaiian Electric stock plunges 40%

Hawaiian Electric’s stock fell nearly 40% after a class action lawsuit filed over the weekend alleged that Maui’s devastating wildfires were caused by the utility’s energized power lines that were knocked down by strong winds. The suit accuses Hawaiian Electric Industries of “choosing not to deenergize their power lines during the High Wind Watch and Red Flag Warning conditions for Maui before the Lahaina Fire started,” despite knowing the risks of sparking a fire in those conditions. (More)

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US News, Politics, & Government

Biden's plan to forgive student debt for over 800,000 borrowers upheld by judge

A federal judge dismissed a lawsuit Monday from conservative groups looking to block student loan forgiveness for some 804,000 borrowers. The lawsuit was filed by the New Civil Liberties Alliance on behalf of the Cato Institute and Mackinac Center. The district court did not rule on the merits of the case and instead said Cato and Mackinac were not the right parties to bring it. The firm will review legal options with the clients before potentially suing from a different angle. (More)

Montana judge rules in favor of youth in historic climate change lawsuit

A Montana judge ruled that the state violated the state constitutional rights of 16 young people by promoting the use of fossil fuels and ignoring the effects of greenhouse gas emissions, which cause global warming and climate change. The ruling could influence thousands of other pending climate change lawsuits in the country. However, the state is expected to appeal the decision to the Montana Supreme Court. (More)

Coast Guard rescues 4 divers who went missing off the Carolinas

Four divers were found and rescued about 50 miles off the coast of Cape Fear, North Carolina, after going missing on Sunday. The divers were found around 12:45 a.m. Monday after a Coast Guard rescue aircraft saw a strobe light in the water flashing an SOS signal. (More)

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World

Argentinian far-right outsider Javier Milei posts shock win in primary election

Argentina’s voters shunned the country’s two main political forces in a primary election on Sunday, pushing a libertarian outsider candidate into first place heading into the presidential elections in October. Javier Melie topped the poll with 30.5% of the vote. The result is a rebuke of the current political rule with inflation at 116% and a cost of living crisis leaving four in 10 people in poverty. (More)

At least 26 dead in Ethiopia explosion amid intensifying conflict

At least 26 people have been killed and 50 people were injured in an explosion in the town of Finote Selam in Ethiopia, amid heavy fighting between government forces and a local militia group. The two groups were once allies in a conflict that ended last November, but have fallen out recently after the militia group resisted a move by the government to disband regional forces. (More)

Niger coup: Ousted President Bazoum to be charged with high treason, junta says

The Military junta that seized power in Niger said it will prosecute President Mogamed Bazoum for “high treason” and undermining state security. Members of the presidential guard ousted Bazoum on July 26. He has since been under house arrest with his wife and son in the presidential compound. If convicted, Bazoum could face the death penalty, according to Niger’s penal code. (More)

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Sports & Entertainment

Peyton Manning returning to Tennessee as professor

Manning will join select classes during the academic year as a featured expert and will work alongside the college's faculty to provide learning experiences for the College of Communication and Information students at Tennessee. In true Volunteer spirit, Manning is teaching for free. (More)

CBS News names Wendy McMahon as new chief

The role expands McMahon’s prior role as co-president to having solo oversight over CBS News and its stations. Previously, McMahon shared responsibilities with Neeraj Khemlani, who will be stepping down. She will also oversee entertainment series like “Jeopardy!” and “Wheel of Fortune.” (More)

'Blind Side' subject Oher alleges Tuohys made millions off lie

Retired NFL star Michael Oher, whose supposed adoption out of poverty by a wealthy, white family depicted in the 2009 movie "The Blind Side," brought allegations that a central element of the story was a lie told by the family to profit at his expense. Oher said the family never adopted him and that the Touhys tricked him into signing a document making them his conservators, which gave them legal authority to make business deals in his name. (More)

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Science, Health, & Tech

Living with air pollution, especially from wildfires or agriculture, raises risk of dementia

The study looked at data from 27,857 survey participants between 1998 to 2016. About 15%, or 4,105 people, developed dementia during the study period, and all lived in areas of the US with higher concentrations of particle pollution than those who didn’t develop dementia. Also, the link to dementia was most robust in areas with pollution from agriculture and wildfires. (More)

Netflix launches video game streaming service

Beginning Monday, some Netflix subscribers in Canada and the UK will be able to check out Netflix games streamed to select TVs and computers. People playing on TVs can use a new app released by Netflix last week that turns their phone into a game controller. The games are played over Netflix’s streaming services, as opposed to its mobile games, which have to be downloaded to a phone to be played. (More)

New paint gives extra insulation, saving on energy, costs, and carbon emissions

The newly invented paints that have two layers applied separately: an infrared reflective bottom layer and an ultrathin, infrared transparent upper layer that comes in a wide range of colors. The paint reflects infrared light, which accounts for 49% of natural heating, reducing the amount of heat that is transferred into a building from its surroundings. The paint can be applied to the inside or outside of a building, effectively keeping heat in or out depending on the season. Scientists are working on a commercialized version available to the public. (More)

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Bonus Material

Athletes will be immortalized in butter at the Iowa State Fair.

Nestlé recalls Toll House cookie dough because they may contain wood fragments.

Photos from this year’s most active meteor shower.

16 underrated travel destinations.