• COVID-19 outbreaks and congested ports have drastically increased the cost of moving merchandise across the world
• Dollar Tree said Thursday that rising freight costs will drag down its earnings by $1.50 to $1.60 per share — more than double the 60 cents to 65 cent decline that it had projected in May

Student debt will be canceled by Education Department for 115,000 borrowers

• On August 26, the U.S. Department of Education announced that they will waive $1.1 billion in student debt for 115,000 borrowers
• This debt forgiveness is extended to those who attended ITT Technical Institute, a for-profit school 
• Since January, the Biden Administration has canceled student loans for more than 563,000 followers

Chip shortage causes UK car production to drop to 1956 production levels 

• On August 26, The Society of Motor Manufacturers and Traders has announced that UK manufacturers built only 53,438 vehicles in July which is a 37.6% decrease from July of 2020
• The SMMT said a global semiconductor shortage, factory shutdowns, and worker absences amid the ongoing coronavirus pandemic all contributed to the decline

Moderna Covid vaccine suspended by Japan over contamination concerns

• Over 1.6 million doses of the Moderna vaccine have been suspended by Japan on August 26 among concerns of contaminated vials
• Across 8 vaccination sites in Japan, 40 unused vials have been spotted with unspecified foreign matter over the past 10 days 

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