NXP Says Sales Topped Forecast on Improving Auto Market

TikTok Ruling Blocking Ban on Viral App Is Appealed by U.S.

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The U.S. appealed a court ruling that temporarily blocked President Donald Trump’s ban on the viral video-sharing app TikTok.

A federal judge granted a preliminary injunction against the ban on new downloads of TikTok on Sept. 27, saying it was likely the Trump administration had exceeded its legal authority. The government began the process of appealing on Thursday, filing a notice of appeal in court in Washington.


Read More: Trump Ban on TikTok Is Temporarily Blocked by Federal Judge

Podcast: New England Journal of Medicine editor on landmark election editorial

The New England Journal of Medicine yesterday published the first political editorial in its 208-year history, arguing that America's leaders have bungled the response to COVID-19, leading to unnecessary death and economic hardship.

Axios Re:Cap goes deeper with Dr. Eric Rubin, an immunologist and infectious disease expert who serves as NEJM's editor-in-chief.

Crude Oil Futures Close Sharply Higher

Crude oil prices rose sharply on Thursday due to the impact of Hurricane Delta on crude output in the Gulf of Mexico, and on hopes the U.S. policymakers will come out with some sort of stimulus sometime soon.

According to an estimate from the U.S. Bureau of Safety and Environmental Enforcement, oil production will likely fall nearly 92% in the Gulf of Mexico region due to shutting down of facilities. Natural gas output likely fell close to 62% due to the impact of the hurricane.

Traders were also weighing possible production outages in the North Sea because of a strike by oil workers.

Another positive for oil prices was the report that Saudi Arabia may consider cancelling OPEC’s plans to increase oil output early next year.

West Texas Intermediate Crude oil futures for November ended higher by $1.24 or about 3.1% at $41.19 a barrel.

Brent crude futures were moving up $0.86 or about 2% at $42.85 a barrel.

The outage from the ongoing strike in Norway’s oil and gas industry will grow to 966,000 barrels of oil equivalent per day (boed) by Oct. 14, unless a solution to the conflict is found in the meantime, the Norwegian Oil and Gas Association said today.

Fountain firefighter arrested in Colorado Springs sex assault case

A Fountain firefighter is accused of sexual assault in Colorado Springs.

Dustin Vornholt, of Englewood, was taken into custody on Tuesday by the Douglas County Sheriff’s Office, according to a news release.

Allegations against Vornholt were reported to Colorado Springs police in September and an investigation began, the release said.

Vornholt faces charges of sex assault, a felony, and third-degree assault, a misdemeanor, police said.

He has been placed on unpaid administrative leave by the fire department.

Islamist Militants Free Mali Opposition Leader, Three Europeans

Islamist insurgents released Mali’s main opposition leader, Soumaila Cisse, following his abduction in March while campaigning for parliamentary elections.

The 70-year-old was freed alongside a French aid worker and two Italian citizens, the office of the prime minister said in a statement. The four were being flown from the northern town of Tessalit near the Algerian border to arrive in the capital, Bamako, on Thursday.

Civil-society groups earlier this year criticized the government for not doing enough to obtain the release of Cisse, whose vehicle was ambushed near the desert city of Timbuktu. The French aid worker, 75-year-old Sophie Petronin, was seized four years ago, while the Italians had been held by jihadists for about two years.

Jihadist groups with links to al-Qaeda and Islamic State have targeted mainly westerners for abductions for years and are believed to have financed many of their operations with ransom. At least 200 militants were freed earlier this week in exchange for the four hostages, a government spokesman said by phone.

US Democrats want panel to investigate Trump's capacity to govern

WASHINGTON (AFP) – US Democrats said on Thursday (Oct 8) they will introduce a measure creating a commission to evaluate whether Donald Trump or other presidents have the capacity to discharge the duties of their office.

House Speaker Nancy Pelosi’s office said Friday’s Bill would “help ensure effective and uninterrupted leadership in the highest office in the Executive Branch of government.”

NXP Says Sales Topped Forecast on Improving Auto Market

NXP Semiconductor NV reported preliminary revenue and profit that topped its forecasts, saying market conditions have improved faster than the chipmaker anticipated. Shares gained in extended trading.

Third-quarter revenue will be about $2.27 billion with adjusted operating income of $586 million, the Eindhoven, Netherlands-based company said Thursday in astatement. NXP had projected revenue with a midpoint of $2 billion and operating income of $444 million.

“We experienced material improvement in demand across all end markets, but particularly in the automotive and mobile end markets,” Chief Executive Officer Kurt Sievers said in the statement. NXP is the largest provider of chips used by automakers.

Shares surged 8.6% in extended trading following the announcement. They closed at $134.83 in New York, leaving them up 6% this year.