Banco Santander: Q2 Earnings Snapshot
The bank, based in Madrid, said it had earnings of 25 cents per share. Earnings, adjusted to account for discontinued operations, were 22 cents per share.
The financial holding company posted revenue of $17.56 billion in the period. Its revenue net of interest expense was $17.56 billion, which fell short of Street forecasts.
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New York Post
an hour ago
- New York Post
Minnesota joins slew of states suing TikTok for allegedly preying on young people with addictive algorithms
Minnesota on Tuesday joined a wave of states suing TikTok, alleging the social media giant preys on young people with addictive algorithms that trap them into becoming compulsive consumers of its short videos. 'This isn't about free speech. I'm sure they're gonna holler that,' Minnesota Attorney General Keith Ellison said at a news conference. 'It's actually about deception, manipulation, misrepresentation. This is about a company knowing the dangers, and the dangerous effects of its product, but making and taking no steps to mitigate those harms or inform users of the risks.' The lawsuit, filed in state court, alleges that TikTok is violating Minnesota laws against deceptive trade practices and consumer fraud. It follows a flurry of lawsuits filed by more than a dozen states last year alleging the popular short-form video app is designed to be addictive to kids and harms their mental health. Minnesota's case brings the total to about 24 states, Ellison's office said. Advertisement 3 Minnesota Attorney General Keith Ellison briefs reporters in his office about the lawsuit he filed against social media giant TikTok, alleging it preys on young people with addictive algorithms. AP Many of the earlier lawsuits stemmed from a nationwide investigation into TikTok launched in 2022 by a bipartisan coalition of attorneys general from 14 states into the effects of TikTok on young users' mental health. Ellison, a Democrat, said Minnesota waited while it did its own investigation. Sean Padden, a middle-school health teacher in the Roseville Area school district, joined Ellison, saying he has witnessed a correlation between increased TikTok use and an 'irrefutable spike in student mental health issues,' including depression, anxiety, anger, lowered self-esteem and a decrease in attention spans as they seek out the quick gratification that its short videos offer. Advertisement The lawsuit comes while President Donald Trump is still trying to broker a deal to bring the social media platform, which is owned by China's ByteDance, under American ownership over concerns about the data security of its 170 million American users. While Trump campaigned on banning TikTok, he also gained more than 15 million followers on the platform since he started sharing videos on it. No matter who ultimately owns TikTok, Ellison said, it must comply with the law. 3 The lawsuit comes as Trump is trying to make a deal with TikTok to bring the platform to the U.S. AP TikTok disputed Minnesota's allegations. Advertisement 'This lawsuit is based on misleading and inaccurate claims that fail to recognize the robust safety measures TikTok has voluntarily implemented to support the well-being of our community,' company spokesperson Nathaniel Brown said in a statement. 'Teen accounts on TikTok come with 50+ features and settings designed to help young people safely express themselves, discover and learn. 3 TikTok disputed Minnesota's allegations. AP 'Through our Family Pairing tool, parents can view or customize 20+ content and privacy settings, including screen time, content filters, and our time away feature to pause a teen's access to our app,' Brown added. Start your day with all you need to know Morning Report delivers the latest news, videos, photos and more. Thanks for signing up! Enter your email address Please provide a valid email address. By clicking above you agree to the Terms of Use and Privacy Policy. Never miss a story. Check out more newsletters Advertisement Minnesota is seeking a declaration that TikTok's practices are deceptive, unfair or unconscionable under state law, a permanent injunction against those practices, and up to $25,000 for each instance in which a Minnesota child has accessed TikTok. Ellison wouldn't put a total on that but said, 'it's a lot.' He estimated that 'hundreds of thousands of Minnesota kids' have TikTok on their devices. 'We're not trying to shut them down, but we are insisting that they clean up their act,' Ellison said. 'There are legitimate uses of products like TikTok. But like all things, they have to be used properly and safely.' Minnesota is also among dozens of U.S. states that have sued Meta Platforms for allegedly building features into Instagram and Facebook that addict people. The messaging service Snapchat and the gaming platform Roblox are also facing lawsuits by some other states alleging harm to kids.
Yahoo
2 hours ago
- Yahoo
Sen. Lindsey Graham says Trump ready to ‘crush' Russian economy if Putin avoids talks with Zelenskyy
WASHINGTON (AP) — Republican Sen. Lindsey Graham said Tuesday that he believes President Donald Trump is prepared to 'crush' Russia's economy with a new wave of sanctions if Russian President Vladimir Putin refuses to meet with Ukrainian President Volodymyr Zelenskyy in the coming weeks. Graham, who spoke with Trump on Tuesday morning, has pushed the president for months to support his sweeping bipartisan sanctions bill that would impose steep tariffs on countries that are fueling Russia's invasion of Ukraine by buying its oil, gas, uranium, and other exports. The legislation has the backing of 85 senators, but Trump has yet to endorse it. Republican leaders have said they won't move without him. 'If we don't have this thing moving in the right direction by the time we get back, then I think that plan B needs to kick in,' Graham said in a phone interview with The Associated Press on Tuesday. The Senate, now away from Washington for the August recess, is scheduled to return in September. Graham's call with Trump came less than 24 hours after high-stakes meetings at the White House with Zelenskyy and several European leaders. Trump and the leaders emerged from those talks sounding optimistic, with the expectation being that a Putin and Zelenskyy sit-down will happen soon. Still, Trump's comments to Graham, one of his top congressional allies, mark the latest sign that pressure is building — not just on Putin, but on Trump as well. 'Trump believes that if Putin doesn't do his part, that he's going to have to crush his economy. Because you've got to mean what you say,' Graham told reporters in South Carolina on Tuesday. As Congress prepares to return to session in early September, the next few weeks could become a defining test of whether lawmakers and international allies are prepared to act on their own if Trump doesn't follow through. Connecticut Sen. Richard Blumenthal, the lead Democrat pushing the bill with Graham, says there is a 'lot of reason for skepticism and doubt' after the meetings with Trump, especially because Putin has not made any direct promises. He said the Russian leader has an incentive to play 'rope-a-dope' with Trump. 'The only way to bring Putin to the table is to show strength,' Blumenthal told the AP this week. 'What Putin understands is force and pressure.' Still, Republicans have shown little willingness to override Trump in his second term. They abruptly halted work on the sanctions bill before the August recess after Trump said the legislation may not be needed. Asked Tuesday in a phone interview whether the sanctions bill should be brought up even without Trump's support, Graham said, 'the best way to do it is with him.' 'There will come a point where if it's clear that Putin is not going to entertain peace, that President Trump will have to back up what he said he would do,' Graham said. 'And the best way to do it is have congressional blessing.' The legislation would impose tariffs of up to 500% on countries such as China and India, which together account for roughly 70% of Russia's energy trade. The framework has the support of many European leaders. Many of those same European leaders left the White House on Monday with a more hopeful tone. Zelenskyy called the meeting with Trump 'an important step toward ending this war.' German Chancellor Friedrich Merz said that his expectations 'were not just met, they were exceeded.' Still, little concrete progress was visible on the main obstacles to peace. That deadlock likely favors Putin, whose forces continue to make steady, if slow, progress on the ground in Ukraine. French President Emmanuel Macron told reporters after talks at the White House that Trump believes a deal with Putin is possible. But he said sanctions remain on the table if the process fails. ___ Associated Press reporter Meg Kinnard contributed to this report from Florence, South Carolina.
San Francisco Chronicle
2 hours ago
- San Francisco Chronicle
Sen. Lindsey Graham says Trump ready to ‘crush' Russian economy if Putin avoids talks with Zelenskyy
WASHINGTON (AP) — Republican Sen. Lindsey Graham said Tuesday that he believes President Donald Trump is prepared to 'crush' Russia's economy with a new wave of sanctions if Russian President Vladimir Putin refuses to meet with Ukrainian President Volodymyr Zelenskyy in the coming weeks. Graham, who spoke with Trump on Tuesday morning, has pushed the president for months to support his sweeping bipartisan sanctions bill that would impose steep tariffs on countries that are fueling Russia's invasion of Ukraine by buying its oil, gas, uranium, and other exports. The legislation has the backing of 85 senators, but Trump has yet to endorse it. Republican leaders have said they won't move without him. 'If we don't have this thing moving in the right direction by the time we get back, then I think that plan B needs to kick in,' Graham said in a phone interview with The Associated Press on Tuesday. The Senate, now away from Washington for the August recess, is scheduled to return in September. Graham's call with Trump came less than 24 hours after high-stakes meetings at the White House with Zelenskyy and several European leaders. Trump and the leaders emerged from those talks sounding optimistic, with the expectation being that a Putin and Zelenskyy sit-down will happen soon. Still, Trump's comments to Graham, one of his top congressional allies, mark the latest sign that pressure is building — not just on Putin, but on Trump as well. 'Trump believes that if Putin doesn't do his part, that he's going to have to crush his economy. Because you've got to mean what you say,' Graham told reporters in South Carolina on Tuesday. As Congress prepares to return to session in early September, the next few weeks could become a defining test of whether lawmakers and international allies are prepared to act on their own if Trump doesn't follow through. Connecticut Sen. Richard Blumenthal, the lead Democrat pushing the bill with Graham, says there is a 'lot of reason for skepticism and doubt' after the meetings with Trump, especially because Putin has not made any direct promises. He said the Russian leader has an incentive to play 'rope-a-dope' with Trump. 'The only way to bring Putin to the table is to show strength,' Blumenthal told the AP this week. 'What Putin understands is force and pressure.' Still, Republicans have shown little willingness to override Trump in his second term. They abruptly halted work on the sanctions bill before the August recess after Trump said the legislation may not be needed. Asked Tuesday in a phone interview whether the sanctions bill should be brought up even without Trump's support, Graham said, 'the best way to do it is with him.' 'There will come a point where if it's clear that Putin is not going to entertain peace, that President Trump will have to back up what he said he would do,' Graham said. 'And the best way to do it is have congressional blessing.' The legislation would impose tariffs of up to 500% on countries such as China and India, which together account for roughly 70% of Russia's energy trade. The framework has the support of many European leaders. Many of those same European leaders left the White House on Monday with a more hopeful tone. Zelenskyy called the meeting with Trump 'an important step toward ending this war.' German Chancellor Friedrich Merz said that his expectations 'were not just met, they were exceeded.' Still, little concrete progress was visible on the main obstacles to peace. That deadlock likely favors Putin, whose forces continue to make steady, if slow, progress on the ground in Ukraine. French President Emmanuel Macron told reporters after talks at the White House that Trump believes a deal with Putin is possible. But he said sanctions remain on the table if the process fails.
