Stocks fall sharply...Job openings jump...Cooking spray lawsuit
NEW YORK (AP) — Stocks are falling sharply on Wall Street. Technology companies, which rely heavily on trade with China, are taking the brunt of the selling. China’s top economic official will travel to Washington this week ahead of a Friday deadline for sharply raising tariffs on Chinese goods. Safe-play sectors like utilities held up better than the rest of the market.
WASHINGTON (AP) — U.S. employers advertised almost 7.5 million jobs at the end of March, a solid figure that signals hiring will likely remain strong in the months ahead. The Labor Department says job openings rose 4.8% from the previous month, while the number of people quitting their jobs slipped. There are now 1.2 million more open jobs than there are unemployed Americans, a dynamic that suggests businesses will have to keep raising pay to attract and keep the workers they need.
DETROIT (AP) — Six consumers are suing the maker of Pam cooking spray, saying they were severely burned when cans of the spray exploded. The plaintiffs’ attorney says some larger containers of Pam and similar cooking sprays made by Conagra have a faulty vent system in the bottom that makes them more prone to explosion. Conagra says the venting system was eliminated during a product redesign earlier this year.
MOUNTAIN VIEW, Calif. (AP) — Google CEO Sundar Pichai has kicked off the company’s annual developer conference with updates to Google’s artificially intelligent voice assistant. It will get a series of updates this year, including one that lets it book rental cars and movie tickets. Google is expected to unveil several products and other features unrelated to its search engine.
SAN FRANCISCO (AP) — San Francisco is about to require brick-and-mortar retailers to take cash as payment, joining Philadelphia and New Jersey. Critics say the practice of going paperless discriminates against low-income people who may not have access to credit cards. It comes as San Francisco officials are striving to make life more equitable in a city with an enormous wealth gap.