Business Highlights

June 11, 2018


Fed watchers await rate forecast with a hike all but certain

WASHINGTON (AP) — Another interest rate increase is all but certain when the Federal Reserve meets this week. What’s not so sure is whether the vigorous U.S. economy will lead the Fed to accelerate its rate hikes in the months ahead — a move that could raise the risk of a recession. When it last met in May, the Fed left its short-term rate unchanged. The challenge would be to do so without slowing growth so much as to cause a downturn.


Don’t trust the tech giants? You likely rely on them anyway

NEW YORK (AP) — Trust is part of the fabric of modern society, behind our faith in flight, banking and medicine. But companies like Facebook, Google and Amazon are testing our faith in technology as they ask us to trust them with ever-more sensitive aspects of our lives, from our relationships to our private conversations. So far, that’s working for them despite a succession of scandals. For many consumers, technology that improves their lives is more important than abstract threats to privacy.


After teasing a name change, IHOP says “b″ is for burgers

NEW YORK (AP) — IHOP, which had teased a name change to IHOb, says the “b″ is to promote its burger menu. The pancake restaurant has been coy about whether the name change is permanent, saying Monday that the change was “for the time being.” Pressed for details, the company would not give an end date for IHOb but referred to the “tongue-in-cheek name change.” The company already had burgers on the menu, but is adding a line made of Black Angus ground beef.


Judge peppers lawyers on Trump business with foreign gov’ts

GREENBELT, Md. (AP) — Lawyers for Maryland and the District of Columbia accused President Donald Trump in federal court Monday of “profiting on an unprecedented scale” from foreign government interests using his Washington, D.C., hotel. But a Justice Department lawyer insisted Trump isn’t breaking the law because he provided no favors in return. At issue is a constitutional clause barring federal officials from accepting benefits from foreign or state governments without approval of Congress.


Your internet use could change as ‘net neutrality’ ends

NEW YORK (AP) — Your ability to watch and use your favorite apps and services could start to change — though not right away — following Monday’s formal repeal of Obama-era internet protections. Any changes are likely to happen slowly. The repeal takes effect six months after the FCC voted to undo “net neutrality” rules that had barred broadband and cellphone companies from slowing down or blocking websites and apps of their choosing or charging more for higher speeds.


US hits Russian firms with sanctions, citing cyberattacks

WASHINGTON (AP) — The Trump administration is slapping sanctions on several Russian companies and businessmen. The Treasury Department says the sanctions are a response to a number of cyberattacks, as well as intrusions into the U.S. energy grid and global network infrastructure. Officials also say Russia has been tracking undersea cables that carry global telecommunications data. The sanctions freeze any assets held by the Russian entities in U.S. jurisdictions and bar Americans from doing business with them.


Germany orders Daimler to recall 238,000 diesel vehicles

FRANKFURT, Germany (AP) — Germany’s transport minister says the government is ordering automaker Daimler to immediately recall 238,000 vehicles equipped with software that turns off emissions controls under certain conditions. Minister Andreas Scheuer made the statement Monday after a meeting with Daimler CEO Dieter Zetsche. The affected vehicles include the Mercedes-Benz Vito delivery van and the Mercedes GLC 220d and C220d. Europe-wide some 774,000 vehicles are affected.


Science panel says the FAA is too tough on drones

WASHINGTON (AP) — A board that advises the government on science says federal safety regulators are too strict in approving new uses for drones. The national academies say the FAA should balance the overall benefits of drones instead of focusing only on their risk to airplanes. The board says regulators aren’t giving enough consideration to the ability of drones to save lives.


Stock markets rise slightly ahead of Trump-Kim meeting

NEW YORK (AP) — U.S. and global markets rose modestly on Monday, as investors made preparations for President Donald Trump’s meeting with North Korean leader Kim Jong Un in Singapore. European investors also focused on Italy’s new government, and its future using the euro.


The Standard & Poor’s 500 index rose 2.97 points, or 0.1 percent, to 2,782.00. The Dow Jones industrial average rose 5.78 points, or less than 0.1 percent, to 25,322.31. The Nasdaq composite rose 14.41 points, or 0.2 percent, to 7,659.93. The Russell 2000 index of small-company stocks rose 2.19 points, or 0.1 percent, to 1,674.68.

Benchmark U.S. crude closed up 36 cents to $66.10 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, used to price international oils, was unchanged at $76.46 per barrel in London. Wholesale gasoline slipped 1 cent to $2.10 a gallon. Heating oil was little changed at $2.16 a gallon. Natural gas climbed 6 cents to $2.95 per 1,000 cubic feet.

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