Business & Markets — August 9, 2026

Meta ordered to fund youth mental health treatment. A New Mexico judge this week ordered Meta to pay $567 million toward youth mental health treatment, bringing total case penalties to $942 million — the largest child-safety ruling against a social media company.

According to Ars Technica, the court found that Meta had created a public nuisance, a legal theory that ties the company directly to harms among young users. Rather than a standard fine, the $567 million payment is designated for treatment programs, and it comes on top of penalties already imposed earlier in the same case, which together account for the $942 million total.

Ars Technica · Read more →

SpaceX revenue doubles in first post-IPO report. SpaceX's first earnings since its June IPO showed revenue doubling year-over-year on AI compute deals with Anthropic and Google plus Starlink growth. Shares fluctuated on Musk's AI spending plans.

TechCrunch · Read more →

White House moves against Fed Governor Lisa Cook. The administration this week notified Lisa Cook that Trump is weighing her removal over mortgage-fraud allegations, giving her 21 days to respond — an unprecedented challenge to Fed independence.

Axios reports the notification revives an effort the administration had previously pursued, rather than opening an entirely new front. The timing is notable: it comes as Cook has signaled openness to raising interest rates, according to the outlet. Cook now has a 21-day window to respond before Trump decides whether to attempt a removal, a step with no clear precedent at the Federal Reserve.

Axios · Read more →