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Dow slips...Drugmaker lawsuit...Sports Illustrated sold

May 28, 2019

NEW YORK (AP) _ Investors turned cautious Tuesday after stocks opened with solid gains. The Dow fell 237 points after gaining as much as 131 points earlier. The market is coming off its third straight weekly loss. U.S. markets were closed Monday for the Memorial Day holiday. Bond prices rose and the yield on the 10 year Treasury dropped to 2.26%. Falling yields are typically a sign that investors feel jittery about long-term economic prospects.

NORMAN, Okla. (AP) _ Drugmakers being sued by Oklahoma for fueling opioid addiction say the products they manufactured were heavily regulated by state and federal agencies and addressed an important need for pain management. Attorneys for Janssen Pharmaceutical Companies of Johnson & Johnson gave opening statements in the nation’s first state trial against drugmakers blamed in the opioid crisis. Oklahoma Attorney General Mike Hunter says the drugs led to the nation’s “worst manmade public health crisis.”

DENVER (AP) — More than 1,700 people walking on a University of Colorado campus between 2012 and 2013 were reportedly photographed as part of a facial recognition research project funded by U.S. intelligence and military agencies. The Denver Post reports the subjects were unaware they were captured by a long-range surveillance camera in an office window at the Colorado Springs campus. The research project received funding from U.S. intelligence and military agencies, including the Office of Naval Research and the Office of the Director of National Intelligence.

OTTAWA, Ontario (AP) — Canadian lawmakers have voted to serve a summons on Facebook executives Mark Zuckerberg and Sheryl Sandberg that would compel them to appear before them the next time either visits Canada. The decision comes after Zuckerberg and Sandberg failed to appear before the international grand committee on big data, privacy and democracy, which is being hosted by Canada’s parliament this week, despite being called on to testify.

NEW YORK (AP) _ Sports Illustrated magazine has a new owner, though the seller will keep running the print edition and website under a licensing deal. Meredith sold the magazine for $110 million to a company that specializes in managing fashion, entertainment and sports brands, including marketing rights to Shaquille O’Neal and Muhammad Ali. The buyer, Authentic Brands Group, will be look for opportunities to grow Sports Illustrated in digital, TV and social media.

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