Another record on Wall Street ... Foxconn Technology-Wisconsin ... Canada-Boeing Dispute
NEW YORK (AP) — Banks and other financial companies led U.S. stocks modestly higher today, nudging the stock market to another record high. The Standard & Poor’s 500 index and Dow Jones industrial average closed at new highs as the market extended its gains from last week, The S&P 500 index rose 3.64 points, while the Dow gained 63.01 points. The Nasdaq composite added 6.17 points.
STURTEVANT, Wis. (AP) — Gov. Scott Walker today signed a $3 billion incentive package for Foxconn Technology Group to build a flat-screen plant in southeastern Wisconsin. He says the deal will provide thousands of jobs for generations. The governor signed the bill during a packed ceremony at Gateway Technical College in Racine County, where the plant likely will be located. Legislators from around southeastern Wisconsin attended the signing. So did dozens of supporters.
TORONTO (AP) — Prime Minister Justin Trudeau says his government could stop doing business with Boeing if the U.S. company doesn’t drop a trade complaint against Canadian plane maker Bombardier.Trudeau said Canada “won’t do business with a company that’s busy trying to sue us and put our aerospace workers out of business.” Canada had been in talks to purchase 18 Super Hornet fighter jets from U.S. aerospace giant Boeing, but those have been on hold because of the Bombardier dispute.
INDIANAPOLIS (AP) — A nursing home management firm in Indiana has sued several former executives who are already criminally charged with embezzling more than $16 million from the company. American Senior Communities filed the lawsuit Friday against several individuals, including former CEO James Burkhart, and 16 shell companies, according to the Indianpolis Star. The company manages nearly 100 senior care facilities, including 60 locations under a contract with Marion County’s public health agency.
WASHINGTON (AP) — The federal government has fined two groups it says illegally attempted to collect student loan debt and prohibited them from further action on recovering payments until audits on all its accounts are completed.The Consumer Financial Protection Bureau says National Collegiate Student Loan Trusts, which owns more than 800,000 student loans, and their debt collector, Transworld Systems, sued borrowers for student loans “they couldn’t prove were owed and filed false and misleading affidavits in courts across the country.”