24/7 Wall St.

The United Kingdom’s decision on the Murdoch bid for Sky is imminent. According to Reuters:

The British government will give its verdict on Rupert Murdoch’s pursuit of European pay-TV group Sky later on Tuesday, Sky News said.

Murdoch’s Twenty-First Century Fox launched it bid to buy the 61 percent of Sky it does not own in December 2016, but the takeover has held up by politicians and regulators who fear it will give the mogul too much influence in Britain.

Howard Schultz, the co-founder and executive chair of Starbucks Corp. (NASDAQ: SBUX) will retire. According to The Wall Street Journal:

Howard Schultz is stepping down as chairman of Starbucks Corp., the international behemoth he built that transformed the way Americans drink coffee.

The move is likely to fuel speculation that the liberal-leaning Mr. Schultz is preparing to run for political office.

Twitter Inc. (NYSE: TWTR) will become the newest member of the S&P 500. According to The Wall Street Journal:

Twitter Inc. is slated to join the S&P 500 before trading opens on Thursday, according to S&P Dow Jones Indices, as the social-media platform replaces Monsanto Co. on the widely watched index.

Apple Inc. (NASDAQ: AAPL) will help people use their iPhones less. According to The Wall Street Journal:

Apple Inc. on Monday unveiled new controls to help people curb the amount of time they spend on iPhones and iPads, as well as allow parents to remotely track and limit their children’s use of those devices—a response to growing societal concern that adults and children are too focused on phones.

The company said a new app it will release in September called “Screen Time” will provide users with weekly reports of the apps they use and allow them to set time limits for their use of those apps. Parents will be able to use the system to remotely monitor the apps their children use and limit their time on devices.

The costs from a Hawaiian volcano are rising. According to CNBC:

A river of lava spewing from the foot of Hawaii’s Kilauea Volcano swallowed about three dozen more homes on the Big Island during a weekend of destruction that brought to nearly 120 the number of dwellings devoured since last month, officials said on Monday.

Mounting property losses were reported a day after five or six people who initially chose to stay in the newly evacuated Kapoho area after road access was cut off were rescued by helicopter, according to the Hawaii County Civil Defense agency.

Facebook Inc. (NASDAQ: FB) said there is nothing wrong about sharing its data with phone makers. According to CNNMoney:

“These partners signed agreements that prevented people’s Facebook information from being used for any other purpose than to recreate Facebook-like experiences,” Ime Archibong, Facebook’s vice president of product partnerships, wrote in the blog post.

“We are not aware of any abuse by these companies,” he added, noting that Facebook has been “winding down access” to the software.