Retailers, airlines and automakers fall...Amazon pay hikes...New radiation rules
NEW YORK (AP) — Stocks are ending mostly lower as small companies fall again, even as gains by a handful of big companies push the Dow to an all-time high. Retailers, airlines and automakers fell Tuesday, dragging broad market indexes lower on Tuesday. Amazon dragged other retailers lower after saying it would raise its minimum wage for all U.S. workers to $15 an hour, putting pressure on other companies to follow suit. The Dow rose 122 points. The S&P slipped 1 point The Nasdaq fell 37 points.
NEW YORK (AP) — Amazon, the business that upended the retailing industry and transformed the way we shop for just about everything, is jumping out ahead of the pack again, announcing a minimum wage of $15 an hour for its U.S. employees that could force other big companies to raise their pay. The online giant also says it will push Congress to increase the federal minimum wage, now at $7.25.
NEW YORK (AP) — Walmart says it’s acquiring an online plus-size fashion brand called Eloquii, continuing its buying spree of niche brands as tries to compete better with Amazon.com. Walmart declined to disclose the purchase price but says the move will help it get a foothold into the $21 billion plus-size women’s clothing arena. Eloquii also operates five retail stores.
WASHINGTON (AP) — The Trump administration is quietly moving to weaken U.S. radiation regulations, turning to scientific outliers who argue that a bit of radiation damage is actually good for you. Critics say the proposed change could lead to higher levels of exposure for workers at nuclear installations and oil and gas drilling sites, medical workers doing X-rays and CT scans, people living next to Superfund sites.
ATLANTA (AP) — Delta says it lost $30 million on Hurricane Florence, and higher fuel prices are also weighing on the airline. Delta didn’t say how many of its flights were canceled, but the hurricane caused at least 3,500 cancellations across the airline industry, mostly in the Carolinas. The Atlanta-based airline says a key revenue measurement is rising, helping to partially offset higher spot prices for jet fuel.