Here is a rundown of Cheddar News' top trending market stories of the day.
NEURALINK CONTROVERSY
The U.S. Department of Transportation is investigating Elon Musk's company Neuralink over the alleged shipment of hazardous materials. The agency said it started the probe after animal welfare gro up Physicians Committee of Responsible Medicine (PCRM) reached out with evidence, including emails and other documents, that point to unsafe packaging and shipment of monkey brains — some which might have carried infectious diseases.
MORTGAGE RATES RISING AGAIN
Mortgage rates rose for the first time in 2023 this week, as a blockbuster jobs report last Friday bolstered the case for additional rate hikes from the Federal Reserve this year. More rate hikes usually means higher mortgage rates, which could mean more cooling in the housing market. The 30-year fixed-rate mortgage at 6.12 percent as of Feb. 9, according to the latest Freddie Mac survey. That is nearly double its rate in 2021.
META RESTORES TRUMP'S ACCESS
Meta has restored former president Trump's access to Facebook and Instagram after suspending him following the riots on Jan. 6, 2021 at Capitol Hill. The company signaled that the changes were coming late last month, and has stressed the importance of citizens being able to hear from the public futures. Trump has roughly 34 million Facebook followers and 23 million Instagram followers. However, it's still unclear if Trump will rejoin the platforms.
Disney content has gone dark on YouTube TV, leaving subscribers of the Google-owned live streaming platform without access to major networks like ESPN and ABC. That’s because the companies have failed to reach a new licensing deal to keep Disney channels on YouTube TV. Depending on how long it lasts, the dispute could particularly impact coverage of U.S. college football matchups over the weekend — on top of other news and entertainment disruptions that have already arrived. In the meantime, YouTube TV subscribers who want to watch Disney channels could have little choice other than turning to the company’s own platforms, which come with their own price tags.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
