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GM recalling 23,000+ vehicles over fuel leak issue

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General Motors (GM) is recalling over 23,000 Chevrolet Corvettes due to a fuel leak issue, according to the National Highway Traffic Safety Administration (NHTSA). 

The recall was initiated after it was discovered that excess fuel could be spilled into the cars’ fuel-filler pocket during refueling, possibly leaking onto an ignition source and increasing the risk of fire. 

The defect was tied to four alleged fires, identified by GM’s probe, with two that “included evidence indicating that the filling station pump was malfunctioning and caused a fuel spill at the time of the incident.” 

The recall encompasses Corvette models from 2023 to 2025, NHTSA reported. Around 0.1 percent of the recalled vehicles contain the defect, the auto agency said. 

As part of the recall, dealers will insert a shield to divert spilled fuel, according to NHTSA. 

General Motors told Road & Track it is focused on “excess fuel spillage issue during refueling.”

“This is a rare occurrence, and malfunctioning filling station pumps appear to be a contributing factor. The safety of our customers is the highest priority for the entire GM team, and we’re working to remedy this matter as quickly as possible,” a GM spokesperson said. 

Crude Prices Supported by Geopolitical Risks and Possible Fed Rate Cut

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October WTI crude oil (CLV25) today is up +0.98 (+1.54%), and October RBOB gasoline (RBV25) is up +0.0083 (+0.42%).

Crude oil and gasoline prices are moving higher today, with crude posting a 2.5-week high and gasoline posting a 3-week high.  Crude oil prices have support from doubts about negotiations for an end to the Russian-Ukrainian war.   Crude is also climbing on expectations for the Fed to cut interest rates at next month’s FOMC meeting, which could boost economic growth and energy demand.  Gains in crude accelerated today after prices rose above the 100-day moving average, triggering some buying from algorithmic-based traders.  Today’s stronger dollar is limiting gains in crude.

Crude prices also have support on concern that the Russian-Ukrainian war will continue, which could keep restrictions on Russian crude exports in place and even secondary restrictions could be added after Russian Foreign Minister Lavrov said there was no meeting planned between the leaders of Russia and Ukraine and that there “needs to be an agenda first” for a meeting to take place.  “This agenda is not ready at all.”

Concerns about higher OPEC production are negative for crude prices after OPEC+ on August 2 endorsed an additional 547,000 bpd increase in its crude production for September 1.  OPEC+ is boosting output to reverse the 2-year-long production cut, gradually restoring a total of 2.2 million bpd of production by September 2026.  OPEC+ has 1.66 million bpd of supplies that are currently due to remain offline until late 2026.  OPEC July crude production fell by -20,000 bpd to 28.31 million bpd.

An increase in crude oil held worldwide on tankers is bearish for oil prices.  Vortexa reported today that crude oil stored on tankers that have been stationary for at least seven days rose by +11% w/w to 96.77 million bbl in the week ended August 22.

Last Wednesday’s weekly EIA report showed that (1) US crude oil inventories as of August 15 were -5.6% below the seasonal 5-year average, (2) gasoline inventories were -0.7% below the seasonal 5-year average, and (3) distillate inventories were -13.0% below the 5-year seasonal average.  US crude oil production in the week ending August 15 rose by +0.4% w/w to 13.382 million bpd, modestly below the record high of 13.631 million bpd posted in the week of 12/6/2024.

West Ham United: Captain Jarrod Bowen apologises for fan row after Wolves defeat

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West Ham boss Graham Potter has admitted the Hammers are “in pain” but called for unity after captain Jarrod Bowen had to apologise for trying to confront fans.

The forward was held back by stewards at the final whistle following the Hammers’ 3-2 EFL Cup defeat at Molineux – late goals consigning them to a third-straight loss.

Bowen had gone over to the travelling fans to salute them, only to react as something seemed to be said in the stands.

Defeat – after a late Jorgen Strand Larsen brace – condemned the winless Hammers to another loss at the start of an already turbulent season.

Potter said: “We’re all in pain so we need everybody to help, we need everybody’s support, we need to push forward and on to the next match.

“The team’s suffering at the moment, we all are, we’re all hurting. I can assure you no-one’s happy.

“I have no idea what was said or anything. Our supporters have been fantastic, they are hurting because of the results we’ve had and Jarrod obviously cares about the club and the team. It’s just an exchange of views by people who care.

“Everyone is hurting, rightly so because we haven’t had the results we’d like. Jarrod has been a fantastic captain and servant for the club.”

The loss at Molineux added to the pressure on Potter, who has won just five of his 22 games in charge since replacing Julen Lopetegui in January.

The Hammers have conceded 11 goals in their three defeats – including last week’s 5-1 thumping by Chelsea – and go to Nottingham Forest in the Premier League on Sunday.

Bowen was the player who went closest to the away supporters to applaud them but then became incensed. However, within 45 minutes of the final whistle he had apologised for his reaction.

“Apologies to the fans for tonight’s reaction,” the England forward wrote on Instagram.

“I’m someone who is passionate and will fight every time I step on the pitch. But I need to set a better example and you fans know how much I love you and this club.

“We ride through the bad times together and I’ll see you all Sunday.”

Civil rights groups file lawsuit to halt new Texas map

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The NAACP and the Lawyers’ Committee for Civil Rights Under Law filed a lawsuit on Tuesday alleging that a new congressional map passed in Texas violates the Voting Rights Act. 

The lawsuit alleges that Texas racially gerrymandered their map in such a way that it blocks Black voters from being to elect their picks for office.  

Texas Republicans passed a new congressional map in the state legislature this month, which looks to give their party five pick-up opportunities in the House ahead of 2026. Texas Gov. Greg Abbott (R) has not signed the maps into law but is expected to do so soon. 

Democrats have criticized Texas Republicans for making an already GOP-favored House map tilt further toward Republicans, arguing it breaks up communities of interest and saying Republicans are bending a knee to President Trump and the White House over their push to do mid-decade redistricting. 

“The state of Texas is only 40 percent white, but white voters control over 73 percent of the state’s congressional seats,” NAACP President and CEO Derrick Johnson said in a statement.  

“It’s quite obvious that Texas’s effort to redistrict mid-decade, before next year’s midterm elections, is racially motivated,” he added. “The state’s intent here is to reduce the members of Congress who represent Black communities, and that, in and of itself, is unconstitutional.”   

Damon T. Hewitt, president and executive director of the Lawyers’ Committee for Civil Rights Under Law, described the map as “intentionally harmful” and “discriminatory” in his own statement. 

“Black and Brown voters in Texas deserve better. They are legally and constitutionally entitled to fair representation,” he said. “These maps do the opposite, and they must not stand.” 

Republicans, however, have called Democrats hypocritical, noting that several of the state Texas Democrats fled to during their quorum break were ones that have been gerrymandered.  

They also point out that California Democrats looking to place a new House map in front of voters this fall subverts the independent redistricting commission the state has in place to draw the maps once each decade. California Democrats say they are in favor of independent redistricting and see this as a temporary measure.  

Several other Democratic-aligned and civil rights groups have also signaled they are ready to sue over the Texas House map as well.  

The Argus High-Yield Model Portfolio

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The Argus High-Yield Model Portfolio

No investigation into ‘cash for questions’ former minister

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Conservative MP George Freeman has been told he will not face a parliamentary standards investigation for lobbying.

The MP for Mid-Norfolk had referred himself to the standards commissioner in June, when claims emerged that a company that he worked for helped him write questions to government.

As a former science minister, Freeman had previously been advised that lobbying the Labour government could be a conflict of interests.

Freeman said he was “delighted” with the decision there were not sufficient grounds for a formal investigation and labelled the claims “unfounded”.

In a statement, he added: “The Commissioner has reiterated that the lobbying rules do not prohibit [MPs] asking [Parliamentary] Questions or advocating for sectors or issues of public interest, even where they themselves may have a financial interest, as long as the rules on registration and declaration are followed. As was the case with my Questions.”

The “cash for questions” allegations arose around Freeman’s role as an adviser for GHGSat, which owns and operates greenhouse gas monitoring satellites.

Claims that Freeman had consulted with the company’s director over “what to ask about” when submitting parliamentary questions first emerged in the Sunday Times.

In another email, he allegedly asked if the company could help him “get the wording right”, which he could then “convert into parliamentary language” for questions he was submitting related to space data and emissions tracking.

In a statement to the BBC at the time, Freeman said he did not believe he did anything wrong, while his party said it would be “inappropriate” to comment while inquiries were ongoing.

Freeman took up the role at the environmental monitoring company in April 2024, with the MP’s register of interests stating he received a monthly salary of £5,000 for eight hours work per month, before leaving the role in March this year.

After he notified appointments watchdog Acoba, about the role, it advised him he “should not become personally involved in lobbying the UK government” on behalf of GHGSat.

Freeman served as science minister under both Boris Johnson and Rishi Sunak, and now sits on the science, innovation and technology committee.

The Conservatives and the Parliamentary Standards Commissioner have been contacted for comment.

Fed says it will abide by court ruling in Trump, Cook dispute over firing

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The Federal Reserve said Tuesday it will abide by the court’s decision in the upcoming lawsuit from Fed board of governors member Lisa Cook challenging her firing by President Trump.

“Lisa Cook has indicated through her personal attorney that she will promptly challenge this action in court and seek a judicial decision that would confirm her ability to continue to fulfill her responsibilities as a Senate-confirmed member of the Board of Governors of the Federal Reserve System,” a spokesperson for the Fed said in a statement.

“The Federal Reserve will abide by any court decision,” the spokesperson added.

After Trump issued a letter on Monday saying he was firing Cook over alleged mortgage fraud, Cook’s attorney Abbe David Lowell said Trump didn’t have the power to fire Cook.

“President Trump has no authority to remove Federal Reserve Governor Lisa Cook,” he said in a statement.

On Monday evening, Trump posted a letter to Cook on his social media account that said he was removing her from her position.

“You are hereby removed from your position on the Board of Governors of the Federal Reserve, effectively immediately,” the letter said.

The firing by Trump and the challenge by Cook escalates the ongoing pressure campaign from the White House on the Fed to a new level. Trump has been telling the Fed to lower interest rates for months, and so far, the committee has declined to heed his calls.

Prices have been rising in the economy over the past few months, while unemployment has stayed low despite a downshift in the labor market. 

The Fed’s mandate is to keep unemployment and prices low, which it does by tweaking the short term interest rate to adjust profitability. When interest rates are higher, profits are lower, deterring companies from hiring, and when interest rates are lower, profits are higher, encouraging companies to hire and make investments.

Trump is keen to see the economy perform well despite the upside price risks, so he has been putting pressure on the Fed through some unorthodox means.

Beyond barking orders at Powell and making fun of him, Trump accused Powell of fraud over a cost overrun for a Fed facilities renovation. He sprung a new cost estimate on Powell during a rare joint appearance by the two men, but Powell dismissed it.

Federal Housing Finance Agency (FHFA) Director Bill Pulte then accused Cook of mortgage fraud, citing documents that allegedly show Cook having designated two different houses as her primary residence.

Pulte has attacked other political enemies of the president from his position atop the FHFA, which oversees government-backed mortgage securitizes Fannie Mae and Freddie Mac.

He accused Sen. Adam Schiff (D-Calif.), an instrumental figure in the Jan. 6 committee hearing that responded to the attack on the Capitol, and New York attorney general Letitia James, who has brought multiple lawsuits against the president, of mortgage fraud.

Analyst Report: WEC Energy Group Inc

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Analyst Report: WEC Energy Group Inc

Sheffield Wednesday fans boycott EFL Cup match against Leeds in ownership protest

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Thousands of Sheffield Wednesday fans stayed away from Hillsborough for Tuesday’s Carabao Cup second-round tie with Leeds United as protests against the club’s ownership continued.

Owls supporters have been showing their discontent against owner Dejphon Chansiri since the start of the season.

The club have failed to pay wages on time for a third successive month and have been hit with several sanctions from the EFL.

In their opening Championship game against Leicester, a banner declaring ‘Enough is Enough’ was displayed, while two weeks ago fans held a mock funeral procession with a coffin that they said symbolised “the death of the football club”.

The Sheffield Wednesday Supporters’ Trust urged fans on their website, external to boycott the match and instead donate the ticket money to Sheffield Children’s Hospital Charity.

“I cannot imagine many Sheffield Wednesday against Leeds games which have ever been played in a Hillsborough stadium like this,” BBC Radio 5 live commentator Alistair Bruce-Ball, covering the game at Hillsborough, said.

“The protest being made this evening was by not coming to this game.

“I’m pretty sure the Leeds fans, about 3,000 of them, may well outnumber the home support.

“The North stand is closed tonight, as is the East stand. The only place you will find the home fans is in the lower tier of the south stand.”

RFK Jr. says agency will reveal causes of autism in September

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Health Secretary Robert F. Kennedy Jr. said Tuesday he’s on track to identify “interventions” that are “certainly causing autism” and possible ways of addressing them by September.

In April, Kennedy vowed to find the cause of growing rates of autism, calling it an “epidemic” that “dwarfs the COVID epidemic.”

President Trump asked Kennedy for a progress update during a cabinet meeting on Tuesday, saying, “The autism is such a tremendous horror show. What’s happening in our country and some other countries, but mostly our country. How are you doing?”

“We are doing very well,” Kennedy responded. “We will have announcements as promised in September, finding interventions, certain interventions, now that are clearly almost certainly causing autism. And we’re going to be able to address those in September.”

Kennedy has long claimed that environmental factors, or vaccines, are likely culprits behind the rising rate of autism diagnoses, arguing research to back this up has been blocked by federal authorities. He argued in April that autism should be prevented because autistic people are burdens on their family and society.

“These are kids who will never pay taxes, they’ll never hold a job, they’ll never play baseball, they’ll never write a poem, they’ll never go out on a date. Many of them will never use a toilet unassisted,” Kennedy said.  “Autism destroys families.”

During the cabinet meeting, Kennedy pointed to his oft-repeated evidence of environmental factors contributing to autism rates, noting how diagnosis rates have significantly jumped since the 1970’s.

“So, there has to be something artificially causing this, meaning a drug or something. And I know you’re looking very strongly at different things, and I hope you can come out with that as soon as possible,” Trump said.

According to the CDC, 1 in 31 children and 1 in 45 adults in the U.S. have autism, significantly than the 1 in 150 rate just a few decades ago. But according to experts, this is more likely due to autism detection improving since the diagnosis was first developed and the criteria broadening over the years. The first time someone was diagnosed with autism was in 1943.

“Rates of autism without intellectual disability, that is increasing faster than diagnoses of autism with intellectual disability, which shows that if that group that would have been missed in the past that is making up the larger portion of the increase in diagnoses,” Zoe Gross, director of advocacy at Autistic Self Advocacy Network, told The Hill in June.