Stocks waver...Revealing envelopes...Iowa approves Apple deal
NEW YORK (AP) — Stocks have been flipping between slight gains and losses today. It’s the latest meandering course for a market that’s been pushed in many directions the last few weeks. Retailers were big winners after a wide variety said they earned bigger profits last quarter than Wall Street forecast. Food companies struggled after the makers of Spam and Folgers coffee reported weaker results than analysts had expected.
JACKSON HOLE, Wyo. (AP) — One event that could capture the market’s attention is a symposium of central bankers in Jackson Hole, Wyoming, that’s getting under way today. With the prospect of new leadership at the Fed within months, investors will be listening for any hint of shifting interest rate plans from the policymakers. Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi are among tomorrow’s speakers.
PHILADELPHIA (AP) — Two legal organizations say health insurer Aetna revealed the HIV status of patients in several states by mailing envelopes with a large, clear window that showed information on purchasing HIV prescriptions. The Legal Action Center and the AIDS Law Project of Pennsylvania say some patients’ relatives and neighbors learned of their HIV status as a result. Aetna says that “this type of mistake is unacceptable” and that the company is reviewing processes to ensure it never happens again.
COLUMBUS, Ohio (AP) — The lone county currently at risk of going uncovered on the federal health law’s insurance exchanges has landed an insurer. The Associated Press has learned that CareSource will step up to provide health insurance coverage in Paulding County, Ohio, in 2018. The most recent national analysis by the Kaiser Family Foundation identified Paulding, in northwestern Ohio just south of Toledo, as the final county at risk of lacking a provider when 2018 signups begin Nov. 1.
DES MOINES, Iowa (AP) — Iowa has approved a deal to give Apple $208 million in state and local tax benefits to build two data storage centers near Des Moines and the promise to create 50 jobs. The deal approved by the Iowa Economic Development Authority includes a refund of $19.6 million in state sale taxes for Apple and a $188 million break on property taxes from Waukee, a booming suburb bordering Des Moines. Apple joins Facebook, Microsoft, and Google in building Iowa data centers. They are drawn to the state by its generous tax breaks, wind-generated electricity and relative security from natural disasters.