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Stocks slip...Preliminary approval to settlement in Ashley Madison hacking...A permit for Pokemon Go?

July 21, 2017

NEW YORK (AP) — Stocks are lower as industrial companies slide. General Electric slumped after the company issued a weak forecast. Most other industries are also lower, including technology companies, which have soared during a 10-day winning streak. European stocks fell and European government bond prices rose after a report said the European Central Bank will make a decision about reducing its economic stimulus in October.

DETROIT (AP) — Lyft says it’s setting up its own unit to develop autonomous vehicle technology, but its approach will be different from other companies and partnerships working on self-driving cars. The San Francisco-based ride-hailing service says it will open its network, inviting automakers and tech companies to use it to haul passengers and gather data. It may even share computer software and sensor technology.

ST. LOUIS (AP) — A federal judge in St. Louis has given preliminary approval to an $11.2 million settlement between the marital infidelity website Ashley Madison and users who sued after hackers released personal information, including financial data and details of their sexual proclivities. A final approval hearing is scheduled for Nov. 20. Lawsuits were filed after hackers outed millions of people who used the website two years ago. The suits said Ashley Madison misled consumers about its security measures and safeguards.

LONDON (AP) — Bank of America has chosen Dublin as its European Union base once Britain leaves the bloc. During a visit to the Irish capital, CEO Brian Moynihan said the bank would add to the 700 staff currently employed there. Bank of America has about 4,500 staff in London. Many international banks use London as a base for business across the 28-country EU. But when Britain leaves the bloc in about two years, they could lose automatic rights to do business in the remaining 27 EU countries if they don’t set up a base there.

MILWAUKEE (AP) — A judge says a Wisconsin county is likely violating the U.S. Constitution with its requirement that game developers obtain permits for augmented-reality apps like Pokemon Go to be played in parks. U.S. District Judge J.P. Stadtmueller said in a ruling Thursday that Milwaukee County can’t enforce the ordinance for now. The ruling came at the request of Irvine, Calfiornia-based game developer Candy Lab Inc., which is suing to overturn the rule.

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