Stocks edge higher...HUD serves Facebook with discrimination complaint.... US Steel to upgrade aging mill
NEW YORK (AP) — Stocks are moving higher in afternoon trading on Wall Street as strong sales from Deere help industrial companies, and a dip in bond yields sends high-dividend companies upward. Health care companies are up but chipmakers are sliding. Tesla is falling on reports of a wider government investigation into the company and concerns about CEO Elon Musk’s health.
NEW YORK (AP) — Federal regulators have served Facebook with a complaint alleging the company’s advertising tools allow landlords and real estate brokers to engage in housing discrimination. Justice Department lawyers disclosed the complaint by the Department of Housing and Urban Development in a court filing made in a lawsuit brought against Facebook by advocacy groups last spring. The lawsuit says Facebook’s systems allow people placing real estate ads to exclude certain audiences from seeing them, like families with young children or disabled people.
GARY, Ind. (AP) — U.S. Steel plans to spend at least $750 million to upgrade a century-old steel mill along northwestern Indiana’s Lake Michigan shoreline. Company and government officials say the project will help preserve Gary Works’ nearly 3,900 steelworker jobs, and could help ensure the 112-year-old mill lasts another century. The investment accounts for more than a third of U.S. Steel’s $2 billion asset revitalization program. Indiana is rewarding the company for its investment by giving up to $12 million in incentives, including tax breaks and worker training grants.
BEAN STATION, Tenn. (AP) — The owner of a Tennessee meatpacking plant where a federal immigration raid took more than 90 people into custody has agreed to plead guilty to employing unauthorized immigrants. News outlets report James Brantley also agreed to plead guilty to tax evasion and wire fraud. Civil rights activists have said the April raid at the Southeastern Provision meatpacking plant in Bean Station may have been the biggest employment crackdown under President Donald Trump’s administration.
NEW YORK (AP) — Hollywood has rebounded from a bad summer of 2017, when overall grosses slid 14.6 percent from the year before. This year, there hasn’t been a single box office bomb. Ticket sales in North America this summer are up 11.3 percent, according to comScore. And this weekend, “Crazy Rich Asians” appears poised to ride glowing reviews to No. 1 with a five-day $25 million debut.