Court ruling: A federal appeals court has revived a Biden administration effort to account for potential damage from greenhouse gas emissions when creating rules for polluting industries. A Louisiana-based federal judge had blocked the so-called “social cost of carbon ” policy last month. But a panel of three 5th U.S. Circuit Court of Appeals judges in New Orleans unanimously stayed the lower court in a ruling dated Wednesday, meaning the administration can continue using the policy while the case goes on. Read the full story.
Completed: Amazon announced Thursday it has closed its acquisition of Hollywood studio MGM, two days after European regulators said the deal “would not significantly reduce competition” in European markets. The retail giant had announced the $8.5 billion deal in May, making it the company’s second-largest acquisition following its $13.7 billion deal with Whole Foods in 2017. The latest acquisition was aimed at boosting Amazon’s streaming services to compete against Netflix and Disney+. Read more.
Online supervision: Instagram on Wednesday started rolling out parental controls for its app for the first time. Parent company Meta Platforms Inc. will soon also let guardians supervise teens’ activity in virtual reality, The Wall Street Journal reports. The first three Instagram parental supervision tools will let parents see how much time their teens spend on Instagram and set limits. Read more.
