Business Highlights

June 8, 2018


Report: Facebook’s shared user data with select companies

SANB FRANCISCO (AP) — Facebook shared personal information culled from its users’ profiles with other companies after the date when executives have said the social network prevented third-party developers from gaining access to the data. That’s according to a report published Friday by The Wall Street Journal, which cited court documents, company officials and unidentified people familiar with the matter.


Trump barrels into G-7 summit, ready to fight US allies

LA MALBAIE, Quebec (AP) — President Donald Trump is barreling into the Group of Seven summit, ready to confront allies over a burgeoning trade dispute and insisting Russia should be brought back into the fold. Trump joined the leaders of major industrialized nations in an idyllic Canadian resort town after days of conflict over new U.S. tariffs he slapped on imports of steel and aluminum. Trump is facing harsh criticism from increasingly disillusioned allies. But he punched back hard, uncowed by the global outcry.


US mayors push to curb gun violence, help immigrants

BOSTON (AP) — A bipartisan coalition of U.S. mayors have called for policies to curb gun violence and pledged to support immigrant communities as it kicked off a four-day gathering in Boston to discuss issues impacting cities. At an opening press conference Friday for the mayors’ annual meeting, city leaders took repeated digs at the gridlock and divisiveness in Washington while touting their effectiveness and ability to remain above the partisan fray.


GOP risks fallout from Justice Department move on health law

WASHINGTON (AP) — The Trump administration’s decision to stop defending in court the Obama health law’s popular protections for consumers with pre-existing conditions could prove risky for Republicans in the midterm elections — and nudge premiums even higher. The Justice Department says it will no longer defend key parts of the Affordable Care Act, beginning with the unpopular requirement that people carry health insurance, but also including provisions that guarantee access for people with medical problems.


Trade tremors: How tariffs, tough talk has unsettled markets

NEW YORK (AP) — Stocks have traded erratically since late February as investors size up the impact of trade tensions between the U.S. and major trading partners including China, Europe, Canada and Mexico. News of progress, or setbacks, on trade has led to big swings from day to day. Big tech companies and smaller, U.S.-focused companies have fared better than the rest of the market during the tumult. Trade will be front and center as leaders from the Group of Seven countries meet in Quebec starting Friday.


As trade fears grow, US states reach out to companies

HACHIOJI, Japan (AP) — Donald Trump’s trade relations with Tokyo are testy, but Idaho gave Takashi Suzuki a warm welcome. Suzuki’s Sakae Casting Co., which makes aluminum parts used for cooling batteries and semiconductors, is talking with the University of Idaho about possibly working together to develop technology to cool nuclear power fuel. While Trump’s squabbles with Japan, Canada and Europe over steel tariffs grab headlines, companies such as Suzuki’s are forging their own deals with American states.


Sheryl Sandberg uses Facebook’s woes as lesson for MIT grads

BOSTON (AP) — Facebook executive Sheryl Sandberg says MIT’s graduating class should use technology as a “force for good” but warned that others will use it for harm. Sandberg, the company’s chief operating officer, used Facebook’s missteps as a lesson in accountability during her commencement speech at the Massachusetts Institute of Technology on Friday. She says Facebook’s leaders “didn’t see all the risks coming” and “didn’t do enough to stop them.”


Kia recalls over 500K vehicles; air bags may not inflate

DETROIT (AP) — Kia is recalling over a half-million cars and minivans in the U.S. because the air bags may not work in a crash. The recall apparently is related to federal investigation into air bag failures in Kia and partner Hyundai vehicles that were linked to four deaths. Vehicles covered by the recall include 2010 through 2013 Forte compact cars and 2011 through 2013 Optima midsize cars. Also covered are Optima Hybrid and Sedona minivans from 2011 and 2012.


China’s trade surplus with US grew, while global gap shrank

BEIJING (AP) — China’s politically sensitive trade surplus with the United States widened in May from a year earlier while its global trade gap shrank as imports accelerated. The latest reading on trade comes amid U.S. pressure on Beijing over its trade surplus and technology policy.


New $2.5B contract awarded to manage nuclear weapons lab

ALBUQUERQUE, N.M. (AP) — Overseeing a top nuclear weapons laboratory that has had security and safety problems will be the responsibility of a new management team that includes two universities and a research firm. The National Nuclear Security Administration chose Triad National Security LLC as the winning bidder to manage Los Alamos National Laboratory, the birthplace of the atomic bomb. The contract — worth an estimated $2.5 billion a year — marks a big step to get the lab back on track.


The S&P 500 index added 8.66 points, or 0.3 percent, to 2,779.03. The Dow Jones industrial average rose 75.12 points, or 0.3 percent, to 25,316.53. The Nasdaq composite gained 10.44 points, or 0.1 percent, to 7,645.51.

U.S. crude slid 0.3 percent to $65.74 a barrel in New York. Brent crude, used to price international oils, fell 0.6 percent to $76.82 per barrel in London.

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