Stocks head toward new records...Former Equifax CEO apologizes for data breach...Supreme Court term begins with worker rights
NEW YORK (AP) — U.S. stocks are on track for more records as health care companies and banks lead the market higher. Energy companies are plunging as the prices of crude oil and other fuels fall sharply. Nordstrom is tumbling after the New York Post said talks to take the department store company private were stalling. Spain’s main stock index is dropping after reports of widespread violence and unrest as after Catalonians voted on an independence referendum.
WASHINGTON (AP) — The former chairman and CEO of Equifax is apologizing for a data breach in which the sensitive information of 140 million Americans was stolen. In prepared congressional testimony, Richard F. Smith says the millions of Americans affected by the data breach are not just numbers in a database, but friends, family, neighbors and members of his church. Smith is scheduled to testify Tuesday.
WASHINGTON (AP) — The Supreme Court has begun its new term with an argument about the rights of employees to complain about pay and conditions in the workplace. The issue is whether their employers can force them to individually use arbitration to resolve disputes. The case pits labor laws intended to allow workers to band together against an older law encouraging the use of arbitration, instead of the courts.
WASHINGTON (AP) — U.S. manufacturing activity shrugged off a series of hurricanes and rose to the highest level in 13 years last month. The Institute for Supply Management says its manufacturing index rose to 60.8 from 58.8 in August, the highest reading since May 2004. Anything above 50 signals that manufacturers are growing, and the ISM survey shows they’ve been on a 13-month winning streak. New orders, production, hiring and new export orders all grew faster in September.
DETROIT (AP) — General Motors is promising two new electric vehicles on Chevy Bolt underpinnings in the next 1 ½ years and more than 20 electric or hydrogen fuel cell vehicles by 2023. The company also pledges to start producing hydrogen fuel cell vehicles for commercial or military use in 2020, and to convert its entire model lineup to zero-emissions in the future. The two new electric vehicles likely will be SUVs or maybe a sportier car designed to compete with Tesla’s upcoming Model 3.