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Stocks edge higher...Facebook: Security breach affects 50M accounts...House passes bill to make tax cuts permanent

September 28, 2018

NEW YORK (AP) — Stock indexes are edging higher as gains for chipmakers give the technology sector a boost, and energy companies are rising with oil prices. Tesla is plunging after federal regulators moved to oust Elon Musk as the electric car maker’s CEO following his tweet last month that he was close to a deal to take Tesla private.

NEW YORK (AP) — Facebook says it recently discovered a security breach affecting nearly 50 million user accounts. In a blog post, the company says hackers exploited its “View As” feature, which lets people see what their profiles look like to someone else. Facebook says it has taken steps to fix the security problem and alerted law enforcement. To deal with the issue, Facebook reset some logins, so 90 million people have been logged out and will have to log in again. CEO Mark Zuckerberg says the company doesn’t know yet whether hackers misused any of the user account information.

WASHINGTON (AP) — The House has passed legislation to expand their massive new tax law. The bill would make permanent the individual and small-business tax cuts in the law. It’s the second tax-cut proposal that Republican leaders have pushed in less than a year. Prospects for the legislation in the Senate are weak, given the slim Republican majority and concern over the potential for further blowing up the deficit.

WASHINGTON (AP) — An aviation bill that Congress is rushing to approve contains a little-noticed section giving authorities the power to track, intercept and destroy drones they consider a security threat, without needing a judge’s approval. Supporters say law enforcement needs this power to protect Americans from terrorists who are learning how to use drones as deadly weapons. Privacy advocates say the provision would give the government unchecked power to decide which drones are a threat and to restrict legitimate uses.

NEW YORK (AP) — JetBlue is following the lead of larger rivals by offering a stripped-down ticket with fewer options than regular economy fares. The airline says customers who take the cheapest fare might have to accept limits on when they board, their seat, and whether they can change or cancel a reservation. The new fare class is expected to take effect sometime next year.

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