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Business Highlights

May 6, 2019

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US-China deal seems dim but possible as talks stay on track

BEIJING (AP) — President Donald Trump’s new threat to escalate tariffs on Chinese goods has clouded prospects for a trade agreement, though preparations by Beijing’s envoys to still visit the United States this week are buoying hopes for some breakthrough to end the trade war between the world’s two largest economies. Trump’s threat was seen as an effort to intensify pressure on Beijing to agree to a deal that would be to Trump’s liking.

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US stocks slide after threat from Trump to raise tariffs

NEW YORK (AP) — Fresh market jitters over the possibility of an escalation in the costly trade war between the U.S. and China pulled stocks broadly lower on Wall Street Monday. The decline, which gradually lost momentum after an initial steep slump, came a day after President Donald Trump threatened to raise tariffs on imported goods from China. U.S. companies with heavy business interests in China bore the brunt of the selling, particularly technology and industrial companies. Health care stocks rose.

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Google’s AI Assistant aims to transcend the smart speaker

SAN FRANCISCO (AP) — Google’s digital voice assistant still trails Amazon in the smart speaker race. But Google launched its artificially intelligent Assistant when the field was dominated by Amazon and Apple, and it has gained considerable ground since. Google is expected to announce updates to its voice assistant and smart home products Tuesday at its annual developers conference in Mountain View, California.

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Plane was heavy with extra fuel before deadly crash landing

MOSCOW (AP) — A Russian airliner that took off from Moscow was airborne for just 28 minutes before returning to make an emergency landing while still heavy with unburned fuel. The fuel then ignited after a rough touchdown. Flames quickly engulfed the aircraft, killing 41 of the 78 people aboard. A day after the horrifying accident at Sheremetyevo airport, Russian news media quoted the pilot as saying he followed procedures for landing with excess weight. But the crew reportedly did not dump any fuel.

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Microsoft offers software tools to secure elections

REDMOND, Wash. (AP) — Microsoft announced an ambitious effort it says will make voting secure, verifiable and subject to reliable audits. Two of the three top U.S elections vendors have expressed interest in potentially incorporating the open-source software into their proprietary voting systems.

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CBS News names new evening anchor, revamps morning show

NEW YORK (AP) — CBS News is replacing its evening anchor and revamping its morning show lineup as it seeks to boost ratings. The network announced Monday “CBS This Morning” co-host Norah O’Donnell will replace Jeff Glor as anchor of the “CBS Evening News.” O’Donnell was chief White House correspondent when she joined “CBS This Morning” in 2012. Gayle King will remain co-host of “CBS This Morning.” The 64-year-old will be joined by CBS News veteran Anthony Mason and correspondent Tony Dokoupil.

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French telecom giant Orange on trial over staff suicides

PARIS (AP) — French telecom giant Orange and seven former or current managers are on trial in a case involving 19 employee suicides and 12 suicide attempts over three years. Managers deny wrongdoing. The company, then known as France Telecom, and the managers are accused of moral harassment and other charges. The trial that opened Monday initially involved 39 employees with mental health problems or who killed themselves as the company was undergoing major job cuts and restructuring a decade ago.

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Boeing didn’t tell airlines that safety alert wasn’t on

CHICAGO (AP) — Boeing says it didn’t tell pilots and airlines that a safety alert on its 737 Max jets was not working until after one of the planes crashed in Indonesia last year. The safety alert, called an “angle of attack” (AOA) indicator, tells pilots if a sensor is transmitting bad data and was designed to warn pilots about the kind of sensor malfunction that occurred in the crash in Indonesia and another in Ethiopia. It had been operational in previous 737s, but were switched off in the 737 Max.

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Lord & Taylor may be put on the block soon

NEW YORK (AP) — Lord & Taylor, one of the country’s oldest department stores, may be put up for sale. Hudson’s Bay, which owns Lord & Taylor and Saks Fifth Avenue, said Monday that it hired a financial adviser to review Lord & Taylor’s business and that the process may lead to a sale or merger. Lord & Taylor traces its origins to more than 190 years ago, when it was founded as a dry goods store in 1826.

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Kraft Heinz restates earnings over period of 2+ years

PITTSBURGH (AP) — Kraft Heinz is restating its financial results for the years 2016, 2017, and for the first nine months of 2018. The company said in February that it was being investigated by the Securities and Exchange Commission over its procurement operations. Kraft Heinz Co. said in a regulatory filing on Monday that several employees within its procurement operations engaged in misconduct. It said that the misstatements were “not quantitatively material to any quarter.”

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The S&P 500 dropped 13.17 points, or 0.4%, to 2,932.47. The Dow Jones Industrial Average fell 66.47 points, or 0.3%, to 26,438.48. The Nasdaq slid 40.71 points, or 0.5%, to 8,123.29. The Russell 2000 index of small company stocks bucked the trend, adding 0.95 of a point, or 0.1%, to 1,614.98.