Business Highlights

AP News
Posted: May 19, 2017 5:27 PM


Prospect of NAFTA rewrite gives US farmers a case of jitters

WASHINGTON (AP) — A big majority of rural Americans backed Donald Trump's presidential bid, drawn to his calls to slash environmental rules, strengthen law enforcement and replace the federal health care law. But many are nervous about Trump's vow to overhaul trade policy, including his plan announced Thursday to renegotiate NAFTA.


'They stole my money': Greek dreams of retirement turn sour

ATHENS, Greece (AP) — It was supposed to be a time to look forward to. After decades of work, retirement was, for many, to have provided a chance to slow down and enjoy the things they might not have had the opportunity for before. Instead, many Greek retirees say they are struggling to survive on ever dwindling pensions with repeated cuts imposed by successive governments as part of their country's three international bailouts.


Death of Ailes reveals Fox News at a crossroads

NEW YORK (AP) — The death of Roger Ailes shows that Fox News faces some troubling questions under the surface of its success. To some, there's a nagging sense that the network's creative center of gravity is missing and it's unsure what it will face next in a changing media world.


Fox News fires Bob Beckel for racially insensitive remark

NEW YORK (AP) — Fox News Channel says it has fired commentator Bob Beckel for making a racially insensitive remark to a black employee. The man's lawyer says Beckel allegedly tried to pressure the employee into withdrawing his complaint. The network's controller was fired in February after two women alleged she had made racist remarks.


US to announce $110 billion Saudi arms sale as Trump visits

WASHINGTON (AP) — U.S. officials say the Trump administration plans to announce $110 billion in advanced military equipment sales and training to Saudi Arabia this weekend as President Donald Trump visits the country. The package includes tanks, combat ships, missile defense systems, radar and communications and cybersecurity technology. The announcement is expected Saturday. Officials providing details were not authorized to speak publicly and spoke on condition of anonymity.


Experts question North Korea role in WannaCry cyberattack

TOKYO (AP) — Experts are questioning whether North Korea was behind the WannaCry cyberattack attack, saying it doesn't fit the pattern of previous hacks blamed on Pyongyang. Identifying hackers behind sophisticated attacks is a notoriously difficult task. Proving they are acting under the explicit orders of a nation state is even trickier. Experts ask why, for example, would Pyongyang carry out a big hack that hurt its two closest strategic partners, China and Russia, for less than $100,000 in ransom.


Uber threatens to fire key exec in self-driving car dispute

SAN FRANCISCO (AP) — Uber is threatening to fire a key executive accused of stealing self-driving car technology from a Google spin-off unless he waives his constitutional rights against self-incrimination so the ride-hailing service can comply with a court order. The development raises the possibility that Uber may end up dumping Anthony Levandowski, whose expertise in robot-controlled cars is the main reason that the company bought Levandowski's startup for $680 million last year.


US stocks close broadly higher; oil rises

Industrial companies led U.S. stocks higher, giving the stock market its second gain in two days. The rally was broad, with all 11 industry sectors in the Standard & Poor's 500 index closing higher. That included energy stocks, which climbed as the price of crude oil rose.


Volkswagen has fix for more cars in cheating scandal

SAN FRANCISCO (AP) — U.S. and California regulators have approved a fix for more Volkswagen cars caught up in the company's emissions cheating scandal. The California Air Resources Board announced Friday that Volkswagen would provide owners of additional 2-liter diesel vehicles with the option of a modification to bring them into compliance with U.S. emissions standards.

Leaving the Left
John Stossel


Appeals court strikes down FAA drone registration rule

WASHINGTON (AP) — An appeals court has struck down a Federal Aviation Administration rule that requires owners to register drones used for recreation. The ruling on Friday is a victory for hobbyists. The FAA had cited safety concerns as it tried to tighten regulation of the fast-growing army of drone operators. Some pilots of commercial airliners have reported close calls with drones flying near airports.


Trump's pick for deputy treasury secretary withdraws

WASHINGTON (AP) — President Donald Trump's choice to be deputy treasury secretary, bank executive Jim Donovan, is withdrawing from consideration to be second in command for Treasury Secretary Steve Mnuchin. Treasury spokesman Tony Sayegh says Donovan withdrew to focus "his attention on his family." Donovan is a managing director at Goldman Sachs and an adjunct professor at the University of Virginia School of Law.


The Standard & Poor's 500 index gained 16.01 points, or 0.7 percent, to 2,381.73.

The Dow Jones industrial average rose 141.82 points, or 0.7 percent, to 20,804.84.

The Nasdaq composite added 28.57, or 0.5 percent, to 6,083.70.

Energy futures closed higher. Benchmark U.S. crude oil gained 98 cents, or 2 percent, to close at $50.33 a barrel in New York. Brent crude, used to price international oils, rose $1.10, or 2.1 percent, to settle at $53.61 a barrel in London. In other futures trading, natural gas added 7 cents to $3.26 per 1,000 cubic feet. Wholesale gasoline gained 5 cents to $1.65 per gallon. Heating oil rose 4 cents to $1.58 per gallon.