Business Highlights

AP News
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Posted: Apr 05, 2017 5:58 PM

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Will Bill O'Reilly survive advertiser defections?

NEW YORK (AP) — Will Bill O'Reilly survive an exodus among his advertisers? The pugnacious host is worth a fortune to Fox News, generating big ratings and a pile of ad revenue. But now sponsors are fast abandoning him because of the sexual harassment allegations against him.

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Pepsi pulls widely mocked ad featuring Kendall Jenner

NEW YORK (AP) — Pepsi says it's "halting any further rollout" of an ad that has been widely mocked and criticized. The ad shows model Kendall Jenner joining a crowd of smiling young protesters, who cheer after she hands a can of Pepsi to a police officer. The story line provoked a backlash, with people saying it trivialized protests for social justice issues. Many said the imagery was reminiscent of a famous photo of a Black Lives Matter protester approaching an officer.

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As Trump hosts Xi, meet the new wild card on trade: The US

WASHINGTON (AP) — As President Donald Trump prepares to host his Chinese counterpart, Xi Jinping, a reversal of sorts has emerged: It's the U.S. leader who is seen as an unpredictable wild card and a skeptic of free-trade deals.

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Fed minutes reveal debate over inflation and Trump

WASHINGTON (AP) — Federal Reserve officials last month struggled to come to grips with two big uncertainties facing the U.S. economy — whether it would be safe to let inflation rise faster for a while and how to assess the impact of President Donald Trump's ambitious economic stimulus plans. Minutes of the Fed's discussion at their March meeting showed near-unanimous support for the quarter-point increase in its key policy rate, the second rate hike in three months.

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Stocks wither as Fed plans throw cold water on early rally

NEW YORK (AP) — After big gains early in the day, US stocks abruptly turn lower after the Federal Reserve releases minutes from its last meeting suggesting it may reduce its bond holdings. Banks fall the most, along with bond yields and interest rates. Earlier, investors were pleased with a survey showing private businesses hired workers at a rapid clip in March.

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House GOP mad that favorite whipping boy still on job at IRS

WASHINGTON (AP) — Unhappy that their favorite whipping boy is still in charge of the IRS, House Republicans asked President Donald Trump on Wednesday to fire Commissioner John Koskinen. Fifteen Republicans on the House Ways and Means Committee sent Trump a letter asking him to can John Koskinen. They said trust in the IRS has hit rock bottom and that under Koskinen, the IRS destroyed evidence when Congress was investigating the tax agency for inappropriately singling out conservative groups for extra scrutiny.

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FDA approves more drugs, and faster, than Europe, study says

WASHINGTON (AP) — New research shows that contrary to some political claims, the U.S. Food and Drug Administration approved more drugs, and two to three months faster on average, than European regulators did over five years. Researchers studied the track record of the FDA and its overseas counterpart, the European Medicines Agency, between 2011 and 2015. Results were published Wednesday.

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YouTube TV has some nifty features - and some big drawbacks

NEW YORK (AP) — YouTube TV, Google's new streaming package of about 40 television channels, is the tech industry's latest bid to get cable-shunning millennials to pay for live TV over the internet. The service, which debuts Wednesday, offers intriguing advantages over rivals. But it remains hobbled by a limited channel selection.

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What do Panera and Krispy Kreme have in common?

ST. LOUIS (AP) — Panera is being acquired by Europe's JAB Holding Co. for more than $7 billion. JAB is better known for the growing stable of brands it owns or has a big stake in, including Peet's Coffee & Tea, Caribou Coffee Co., Stumptown Coffee and Keurig Green Mountain and Krispy Kreme Doughnuts.

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Amazon picks off NFL Thursday Night from Twitter

NEW YORK (AP) — Amazon's new deal gives Prime Time football a whole new meaning. The e-commerce powerhouse will stream NFL Thursday Night games this season via its Amazon Prime video service, replacing Twitter. The live-streams of the games will be available to the estimated 65 million members of Amazon Prime, which costs $99 per year and also includes other perks like free videos, books and shipping.

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The Standard & Poor's 500 index lost 7.21 points, or 0.3 percent, to 2,352.95. The Dow sank 41.09 points, or 0.2 percent, to 20,648.15. The Nasdaq fell 34.13 points, or 0.6 percent, to 5,864.48.

U.S. crude oil rose 12 cents to $51.15 a barrel in New York. Brent, the international standard, gained 19 cents to $54.36 a barrel in London. Wholesale gasoline remained at $1.72 a gallon. Heating oil rose 1 cent to $1.60 a gallon. Natural gas decline 3 cents to $3.27 per 1,000 cubic feet.