Business Highlights

AP News
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Posted: Jun 01, 2017 5:35 PM

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World leaders reaffirm commitment to fighting climate change

BERLIN (AP) — World leaders are pledging to keep up the fight against global warming as U.S. President Donald Trump announces he is pulling out of the Paris climate accord. The European Union's top climate change official says Trump's decision to leave the Paris accord made it "a sad day for the global community."

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Despite Trump, cleaner energy growth expected to carry on

WASHINGTON (AP) — The push to use cleaner forms of energy is unlikely to slow down, even after President Donald Trump says he'll abandon U.S. pledges to reduce carbon emissions that contribute to global warming. Around the world, coal-fired power plants are being shuttered as governments and private companies invest billions in wind turbines and solar farms.

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US job market looks solid 8 years after recession ended

WASHINGTON (AP) — Exactly eight years after the Great Recession ended, the U.S. job market has settled into a sweet spot of steadily solid growth. On Friday, when the government releases the jobs report for May, the pattern is likely to extend itself.

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Investors pick Tesla's promise over GM's steady profits

DETROIT (AP) — Tesla and General Motors have a budding rivalry that could help determine whether Detroit or Silicon Valley sets the course for the future of the auto industry. Right now Wall Street is favoring the upstart led by flamboyant Elon Musk to the established icon headed by the more restrained Mary Barra.

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US auto sales fall for fifth straight month in May

DETROIT (AP) — U.S. auto sales fell for the fifth straight month in May, bolstering expectations for the first annual sales decline since 2009. Some industry analysts lowered predictions for the year as General Motors, Fiat Chrysler, Hyundai and Toyota reported May decreases compared with a year ago.

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Fund investing is cheaper than ever, and it's because of you

NEW YORK (AP) — Investors paid lower expenses last year than ever before for their mutual funds and exchange-traded funds, and all the credit goes to investors themselves. Investors are plowing their money into the cheapest funds, which puts pressure on the rest of the industry to cut their own expenses or risk losing even more dollars.

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Walmart testing store employee delivery of US online orders

BENTONVILLE, Ark. (AP) — Walmart says it's testing a delivery service using its own store associates, who will deliver packages ordered online while driving home from their regular work shifts. The "associate delivery" program would use Walmart's 4,700 U.S. stores and roughly 1.2 million employees to speed delivery and cut costs. It's the retailer's latest effort to compete with online giant Amazon.

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Trump's cellphone use worries security experts

WASHINGTON (AP) — President Donald Trump, who blasted Hillary Clinton for using a personal email server, might be a walking magnet for eavesdropping and malware if he's using an unsecured cellphone to chat with foreign leaders. Trump has been handing out his cellphone number to counterparts around the world, urging them to call him directly to avoid the red tape of diplomatic communications. In today's world of cyber espionage, cellphone security experts say such a policy is not only unorthodox, but dangerous.

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AP Interview: France warns of risk of war in cyberspace

PARIS (AP) — A French cybersecurity official warns there could be a "permanent war" between states and criminal or extremist groups because of hacking attacks. The head of the French government's cybersecurity agency, Guillaume Poupard, tells the Associated Press that a "nightmare scenario" would be "chaos" in which "everyone will attack each other, without really knowing who did what." Last month, the head of the U.S. National Security Agency told senators that cyber war is "real and here to stay."

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US stocks back at record highs after better jobs data

NEW YORK (AP) — A broad push higher for stocks sent indexes to records on Thursday following yet more signs that the job market continues to improve.

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Uber posts $708 million loss and says finance head left

HONG KONG (AP) — Uber posted a $708 million loss in the most recent quarter and said its head of finance is leaving, the latest executive to depart. It's been a rough year for the San Francisco company. It lost its head of communications, president and other senior executives in recent months as it faces allegations of sexism and sexual harassment in the workplace.

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The Standard & Poor's 500 index ended at 2,430.06, up 18.26 points, or 0.8 percent. The Dow Jones industrial average gained 135.53, or 0.6 percent, to 21,144.18, and the Nasdaq composite rose 48.31, or 0.8 percent, to 6,246.83.

Benchmark U.S. crude oil rose 4 cents to settle at $48.36 per barrel. Brent crude, used to price international oils, fell 13 cents to settle at $50.63 a barrel. Natural gas fell 6 cents to settle at $3.01 per 1,000 cubic feet, heating oil slipped 2 cents to $1.50 per gallon and wholesale gasoline was close to flat at $1.60 per gallon.