Stocks lose ground...Standard Chartered fined...Call center layoffs
NEW YORK (AP) — Stocks are closing lower on Wall Street, breaking an eight-day winning streak for the S&P. Industrial companies and banks led the way lower. Technology companies also lost ground. Traders were disappointed to see that the International Monetary Fund lowered its forecast for global growth this year. And a new threat of U.S. tariffs on European goods helped send markets lower in Europe. The Dow lost 190 points The S&P fell 17 points and the Nasdaq fell 44 points.
WASHINGTON (AP) — British financial services giant Standard Chartered Bank will pay $1.1 billion in fines to settle allegations by U.S. and British authorities that it attempted to evade U.S. sanctions imposed on Iran, Cuba, Myanmar and other nations. The settlement was announced Tuesday by the U.S. Treasury, the Federal Reserve and other bank regulators in the United States and Britain.
TUCSON, Ariz. (AP) — A major call-center operator will lay off about 800 employees from its Tucson location. Concentrix Corp. recently filed a notice with the state of Arizona, saying that 785 workers would be affected by a mass layoff. The employees were informed through a letter required by federal law that their last day on the job would be April 30. It has locations including Convergys’ former headquarters town of Cincinnati; Charlotte, North Carolina; and Watertown, New York.
NEW YORK (AP) — While shoppers are getting everything from morning coffee to complete work wardrobes delivered to their homes, some businesses are working with ride-hailing company Uber to entice customers back through their doors. Uber launched a voucher program Tuesday enabling companies like Westfield Mall and TGI Fridays to offer free or discounted Uber rides to customers. It’s a way for retailers to counter declining foot traffic brought on by the growth of online shopping.
UNDATED (AP) — Airbnb is rescinding its plan to bar listings in Israeli settlements in the West Bank. The company says it has decided to allow listings throughout the entire West Bank, but will donate any of its profits from the region to humanitarian aid organizations.