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Friday’s business headlines

Friday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Jane King.

Markets bracing for message from Fed chair

Federal Reserve Chairman Jerome Powell will speak today from Jackson Hole Wyoming. More interest rate hikes will likely be addressed, inflation, the Fed has said, is still too high. The speech could rock the markets as we head into the weekend.

Justice Department sues Spacex

The Justice Department has sued Spacex, alleging discriminatory hiring practices. It says Spacex falsely claimed in its job listings that only green card holders and U.S. citizens could work at the company because of federal export control laws. SpaceX CEO Elon Musk says it followed laws. Social media critics said this is an example of the justice department going after opposition.

Roblox accused of illegally enabling child gambling

Roblox is being sued by the parents of two minors who allege that the company is illegally enabling child gambling. The plaintiffs accuse Roblox of allowing third-party gambling websites to use the Roblox website to accept online bets using Robux. Roblox says bad actors make illegal use of Roblox’s intellectual property and branding to operate.

Disney stock drops to lowest in 9 years

Disney closes at its lowest in nearly nine years as investors turn negative. Disney stockholders are scrutinizing the company’s turnaround plan after Chief Bob Iger earlier this month promised a mix of price hikes across its streaming properties, more ads, and cost cuts to lift the business.

Stock Update

Stocks sold off Thursday as interest rates jumped.