Edition, 16 stories.

Evening NOISE, Aug 31

World, 17:19, 6 sources.

US and Iran trade strikes, raising risks for Hormuz and global oil supplies

Reuters reported that US forces struck Iranian launchers on Larak Island, after which Iran launched missiles at US bases in Jordan; both sides described the exchanges as limited while warning of further retaliation. The Wall Street Journal emphasized the renewed fighting’s potential to revive a broader regional conflict. The clashes center on the Strait of Hormuz, a major route for global oil and gas shipments, as Washington increases economic pressure and Tehran says it still favors negotiations.

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EconomistTrump vows to hit Iran hard after first exchanges of fire in a month WSJFighting Flares in Middle East After U.S. Strike on Iranian Rocket Launchers

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Markets	Last	Change
S&P 500 CLOSE	7,686.14	-0.33%
DOW CLOSE	53,185.90	-0.70%
NASDAQ CLOSE	26,370.89	-0.12%
CRWD	231	+5.77%
AMZN	259.77	-2.50%
SPCX	143.69	+1.55%

U.S., 4 stories

17:25 Supreme Court allows Trump’s White House ballroom construction to proceed The Supreme Court’s 5-4 decision allows the roughly $400 million White House ballroom project to continue while legal challenges proceed. The majority said the National Trust for Historic Preservation likely lacks standing, but did not rule on whether the project requires congressional approval. Chief Justice John Roberts and the court’s three liberal justices dissented, with Roberts writing that the construction is likely unlawful.

5 sources

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AxiosSupreme Court allows Trump's ballroom construction to proceed CNBCSupreme Court lets Trump build White House ballroom as lawsuit continues

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16:00 At least two dead, about 15 unaccounted for after Grand Canyon flooding At least two people have died and about 15 remain unaccounted for after flash flooding struck Grand Canyon National Park, according to park officials and reporting by The Washington Post. At least 62 people were evacuated by air, while search and recovery efforts continued amid difficult terrain and further heavy rain. Preliminary assessments found that about 40 percent of the Transcanyon Waterline was damaged or destroyed.

2 sources

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WaPoTwo bodies found and search continues after Grand Canyon flash flooding

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17:32 CDC delays adding Pennsylvania measles deaths to national tally The CDC has delayed adding two measles-associated deaths reported by Pennsylvania to its national tally, saying it is reviewing information about their circumstances and causes. The Washington Post reports that the move departs from the agency’s usual reliance on state health departments and follows a political dispute between Gov. Josh Shapiro and Health Secretary Robert F. Kennedy Jr. over whether measles caused or contributed to the deaths. Former agency officials and public health experts told the Post that the shifting dashboard updates raise concerns about transparency and possible political interference in public health reporting.

1 source

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WaPoNew CDC director delays adding Pennsylvania deaths to measles data

15:29 IRS audit revenue fell 35% amid Trump administration cuts The New York Times, citing a Treasury watchdog report, says IRS audits generated $6.5 billion in fiscal 2025, down 35% from the prior year’s $10 billion. The agency lost roughly a quarter of its employees after President Trump took office, and TIGTA said it began 30% fewer audits of individuals; one division paused new audits for six months. Overall tax revenue still reached a record $5.3 trillion, largely reflecting withholding, economic conditions and inflation.

1 source

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NYTIRS Audit Revenue Has Plummeted Under Trump, Watchdog Finds

World, 3 stories

13:30 Nepal-Tibet floods leave hundreds dead as rescue efforts intensify Authorities in Nepal and Tibet report hundreds dead and thousands missing after flooding devastated communities along the border. The BBC reports that rescuers are using explosives and pumping air into mud-filled tunnels to reach more than 600 hydropower workers believed trapped. It also describes makeshift burials for unidentified bodies in Nepal as international teams assist with the response.

3 sources

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BBCNepal rescuers blast hillside in search of hydropower workers as families wait anxiously

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12:22 Russia expands jet-powered drone attacks, increasing pressure on Ukraine’s defenses The Wall Street Journal reports that Russia is using faster, jet-powered Geran drones in near-continuous attacks on Ukraine, replacing periodic nighttime barrages with around-the-clock strikes. The campaign is stretching air defenses and intensifying the threat to civilians and psychological pressure on Kyiv.

3 sources

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WSJRussia Turns to New-Generation Drones and All-Day Attacks to Wear Down Ukrainians

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16:43 Trump says US is reviewing its position on Falkland Islands sovereignty US President Donald Trump said he was reviewing Washington’s position on the Falkland Islands, without indicating whether policy would change. Reuters reports that the United States has generally avoided taking sides on sovereignty since 1982, while Argentina continues to claim the British-ruled islands. A possible US shift was among Pentagon options considered earlier this year to pressure NATO allies.

1 source

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ReutersTrump says he is reviewing US position on Falkland Islands

Business, 2 stories

17:22 Venezuela oil deal is unlikely to quickly lower US gas prices Update The Trump administration says its partnership with Venezuela will give the US access to a major share of the country's estimated 65 billion barrels of oil and eventually reduce gasoline prices. CNBC reports that Venezuela's aging infrastructure, limited export capacity and need for major investment could delay increased production for years. NPR emphasizes uncertainty over the deal's terms and political future, including concerns about Venezuelan sovereignty and the interim government's legitimacy.

2 sources

Follow-up to Trump administration announces oil partnership with Venezuela, August 31

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CNBCTrump announced a massive oil deal with Venezuela. Why it won't lower gas prices anytime soon NPRU.S., Venezuela strike oil deal. And, the staggering hidden toll of U.S. heat deaths

14:20 Hyperliquid explores US entry through Kraken parent’s Bitnomial Hyperliquid Labs is in advanced talks with Kraken parent Payward to let US traders access some of its crypto-linked perpetual futures through Payward subsidiary Bitnomial. The proposed structure would place compliance responsibilities with Bitnomial, a CFTC-registered exchange and clearinghouse, but still requires regulatory approval. The arrangement could offer a path for the offshore, decentralized platform to enter the US market without registering directly with the CFTC.

1 source

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BloombergHyperliquid in Talks With Kraken Parent on US Market Entry

Tech, 3 stories

Today’s tech story is power getting audited and institutionalized: the FTC alleges Amazon’s ad machinery extracted over $20 billion, while the Pentagon opens controlled AI access and Apple redistributes key App Store and events responsibilities.

17:42 FTC and 22 states sue Amazon over alleged hidden ad surcharges The Federal Trade Commission and 22 state attorneys general accuse Amazon of manipulating advertising auctions and adding undisclosed surcharges that caused advertisers to overpay, allegedly extracting more than $20 billion. Engadget emphasizes allegations that the practice continued despite internal concerns, while NPR highlights the case as the third major federal lawsuit against Amazon. Amazon disputes the claims, saying the FTC mischaracterized its auctions and cited no evidence that consumers faced higher prices.

6 sources

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NPRThe U.S. sues Amazon again EngadgetAmazon is sued by the FTC and 22 states for 'secretly' overcharging advertisers since 2019

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14:57 Phil Schiller steps down from Apple's App Store and events oversight Engadget, citing Bloomberg, reports that Phil Schiller has stepped down from overseeing Apple's App Store and product events but will remain an Apple Fellow. Eddy Cue will oversee the App Store, with Carson Oliver leading day-to-day operations, while Nola Weinstein will lead the events team. The changes come as Apple restructures its leadership ahead of a September 9 event expected to feature new iPhone and Apple Watch models and its first foldable iPhone.

2 sources

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EngadgetPhil Schiller reportedly steps down as Apple's App Store and product event chief

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16:13 Pentagon launches secure ChatGPT and Grok versions for military users The Pentagon has added government versions of OpenAI’s ChatGPT and xAI’s Grok to its secure GenAI.mil portal, giving roughly 3 million civilian and military personnel access to controlled generative AI tools. TechCrunch reports the systems are intended for unclassified work including administration, logistics, planning, policy, and acquisition, while keeping sensitive data out of ordinary consumer channels. The rollout expands the department’s use of commercial AI while excluding Anthropic’s Claude after a dispute over safety restrictions.

1 source

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TCThe Pentagon now has its own version of ChatGPT and Grok

Sports, 3 stories

Tennis got a welcome dose of normalcy as Carlos Alcaraz returned to the US Open with a straight-sets win over Roman Safiullin, showing no apparent effects from the right wrist injury that sidelined him since April.

16:13 Cowboys waive Joe Milton III, name Sam Howell Prescott’s backup Dallas waived Joe Milton III on Monday to make room for running back Emari Demercado, naming Sam Howell as Dak Prescott’s backup. Milton had a strong preseason, but Howell’s 18 career starts gave him an experience edge. Milton could return to the practice squad if he clears waivers, though Dallas has not decided whether to bring him back.

1 source

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ESPNCowboys waive Joe Milton III, name Sam Howell backup QB

16:58 Saka gives Arsenal narrow win over Aston Villa Arsenal defeated Aston Villa 1-0 at Villa Park, with Bukayo Saka scoring in the second half. The match was goalless at halftime, while Emiliano Buendia hit the crossbar and Arsenal held on under late pressure.

1 source

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ESPNBukayo Saka scores as Arsenal beat Aston Villa in tight affair

16:19 Healthy Alcaraz opens US Open with straight-sets victory Carlos Alcaraz returned to the US Open by defeating Roman Safiullin 6-4, 6-4, 6-4. The second-seeded Spaniard showed no apparent effects from the right wrist injury that had sidelined him since April and said he was pleased to compete again. ESPN reported that the result restored some normalcy to a tournament marked by early upsets.

1 source

Reporting used

ESPNHealthy again, Carlos Alcaraz returns to US Open with win