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Stocks advance...More China tariffs...Tesla buyout?...Papa John sales drop

August 7, 2018

NEW YORK (AP) — Solid gains in technology, industrial and banking stocks are sending U.S. indexes higher again on Wall Street. Google’s parent company, Alphabet, rose 1.5 percent on Tuesday. The gains helped push the S&P 8 points higher. The index saw its fourth straight gain. The Dow rose 126 points. The Nasdaq climbed 23 points.

WASHINGTON (AP) — The Trump administration is going ahead with 25 percent tariffs on $16 billion in Chinese imports. That’s according to the Office of the U.S. Trade Representative. Customs officials will begin collecting the border tax Aug. 23

SAN FRANCISCO (AP) — Tesla CEO Elon Musk is considering leading a buyout of the electric car maker in a stunning move that would end the maverick company’s eight-year history trading on the stock market. The eccentric Musk dropped his bombshell on his Twitter account, which he has used as a platform for pranks, vitriol and now for a proposal to pull off one of the biggest buyouts in U.S. history.

NEW YORK (AP) — Papa John’s says a key sales figure dropped 10.5 percent in July, and that it can’t predict how long and badly it will be affected by the fallout with its founder. Last month, Forbes reported that Papa John’s founder John Schnatter (SHNAH’-tur) used the N-word during a media training call. Schnatter said the comment was taken out of context and has since criticized Papa John’s for its handling of the matter.

NEW YORK (AP) — New York City’s yellow cab drivers could be getting a lifeline from elected officials voting on legislation that would pump the brakes on Uber, Lyft and others. The City Council is looking at a series of proposals that include a one-year cap on new licenses while a study of the industry is undertaken, as well as calls for minimum pay levels for all drivers, whether taxi or black car, and minimum fares. There are now 100,000 ride-hail vehicles.

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