Stocks tumble gain...Sprint settles with NY over taxes...Minnesota sues Comcast/Xfinity
NEW YORK (AP) — The worst month for Wall Street in a decade keeps getting worse. Amazon, Facebook, Netflix and a handful of other technology companies are leading stock indexes lower again today. Big drops in those stocks as well as Apple and Alphabet, Google’s parent company, have contributed to what’s now a 20 percent drop in the Nasdaq from its peak in August.
ALBANY, N.Y. (AP) — New York state officials say Sprint will pay $330 million to settle a lawsuit that accused the telecommunication company of dodging more than $100 million in state and local taxes. The suit said Sprint violated the New York False Claim Act for nearly a decade by knowingly failing to collect and remit sales taxes owed on flat-rate wireless calling plans sold to New Yorkers.
ST. PAUL, Minn. (AP) — Minnesota’s attorney general is suing Comcast/Xfinity, alleging the company has overcharged thousands of consumers for cable TV packages, charged them for unordered equipment and services, and failed to deliver on promised Visa gift cards. Attorney General Lori Swanson says the lawsuit allegeing consumer fraud and deceptive trade practices follows more than two years of investigation.
BROOKLYN CENTER, Minn. (AP) — The parent company of Caribou Coffee and Bruegger’s Bagels says hackers gained access to customer information at 265 of its stores, mostly in Minnesota. The Minnesota-based company says the data breach occurred between Aug. 28 and Dec. 3. Caribou says it’s possible that customer name and credit card information may have been taken. The company says about 200 of the affected stores are in Minnesota, while the rest are in Wisconsin, South Dakota, North Dakota, Iowa, North Carolina, Colorado, Florida, Georgia and Kansas.
LONDON (AP) — London’s Gatwick Airport says flights have resumed after a temporary shutdown today due to a drone sighting. The airport says that “military measures” in place at Britain’s second-busiest airport made it safe to resume flight operations. Takeoffs and landings had been suspended for roughly 80 minutes as a precautionary measure while an investigation was underway. Drone sightings had also shut down the airport on Wednesday night and all day Thursday.