Tariff concerns...Deutsche Bank monitoring...SiriusXM buying Pandora
NEW YORK (AP) — Stocks are closing mostly lower on Wall Street after China and the U.S. put tariffs on more of each other’s goods. Investors were also discouraged Monday by a report that China rebuffed a plan for more talks on trade. Oil prices rose after OPEC decided against increasing its output further. The Dow fell 181 points.
FRANKFURT, Germany (AP) — Germany’s financial regulator has ordered Deutsche Bank to install a special monitor to oversee the implementation of safeguards against money laundering. The BaFin regulator said Monday that the monitor would report on the bank’s progress in improving its procedures.
WASHINGTON (AP) — The government has affirmed that employers who offer paid family and medical leave to their workers earning up to $72,000 a year can receive tax credits under the new tax law. The Treasury Department issued guidelines Monday for the tax credit, which is available to employers for leave paid this year and next. The credit was part of the $1.5 trillion package of individual and corporate tax cuts that Republicans in Congress enacted .
NEW YORK (AP) — Subscription radio company SiriusXM says it’s buying music streaming service Pandora Media Inc. in a deal valued at about $3.5 billion that will allow it to expand its service beyond cars and into mobile devices and homes. Pandora has faced intense pressure from competitors like Spotify and Apple. Its last quarterly profit was in December 2014.
NEW YORK (AP) — Weight Watchers is trimming its name to just two letters: WW. The company says it is renaming itself to focus more on overall wellness and not just dieting. Its app, for example, will offer tips and meditation and give out rewards for tracking meals and exercise. WW has seen a rise in subscribers, helped by a 2015 investment by Oprah Winfrey.