Standing pat: Gov. Bobby Jindal has canceled plans to attend the Republican National Convention in Tampa, Fla., later this week. Jindal had been scheduled on Wednesday to address the convention, which kicked off briefly today. Most of today’s convention events have been delayed by a day due to Tropical Storm Isaac. “There’s no time for politics here in Louisiana,” Jindal told reporters at a news conference in Baton Rouge.
Priming the pump: Gas prices are heading higher as Tropical Storm Isaac forces several major refineries along the Gulf Coast to halt production in preparation for high winds and heavy rains. Fear of reduced gasoline supplies sent wholesale gasoline prices up 7.7 cents, or 2.4%, to $3.15 per gallon today. The average retail price for a gallon of gasoline in the United States rose to $3.75 today, and it could pass $3.80 by Labor Day weekend, says Tom Kloza, chief oil analyst at the Oil Price Information Service. Read the full story here.
A win-win: Apple’s $1.05 billion court win against Samsung is translating into a much bigger jump in its market value. Apple shares were up $11.86, or 1.8%, at $675.08 in trading this afternoon. That boosts Apple’s market capitalization, already the highest in the world, by about $11 billion to $633 billion. In opening trading, Apple shares hit $680.87, a new all-time high. Late Friday, a nine-person federal jury in Silicon Valley found that some of Samsung’s products illegally copied features and designs from Apple’s iPhone and iPad.
Editor’s note: Daily Report is continually updating Tropical Storm Isaac-related cancelations and closures, as well as providing emergency information. Click here for the complete rundown.
