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Solid gains ... Canada joining trade talks on NAFTA replacement ... Toyota investing in Uber

August 27, 2018

NEW YORK (AP) — Stocks have posted solid gains after the White House said it’s reached a preliminary agreement with Mexico on replacing the North American Free Trade Agreement. The Dow closed up 259 points at 26,049. The S&P 500 rose 22 to 2,896, while the Nasdaq climbed 71 points to 8,017, closing above 8,000 for the first time,

WASHINGTON (AP) — Canadian Foreign Minister Chrystia Freeland is cutting short her diplomatic trip to Europe for trade talks in Washington. The move comes after the Trump administration and Mexico said they have reached a preliminary accord to end the North American Free Trade Agreement and replace it. However, without Canada, America’s No. 2 trading partner, it’s unclear whether any new U.S. trade agreement with Mexico would be possible.

DETROIT (AP) — Toyota is planning to invest $500 million in ride-hailing service Uber. A person briefed on the matter says the companies will jointly develop self-driving vehicles. The deal is evidence that Uber no longer wants to go it alone in autonomous cars. Uber suspended testing after one of the company’s self-driving test vehicles ran down a pedestrian on a street in Tempe, Arizona, in March. Authorities determined that the vehicle’s sensors spotted the woman but its automatic-braking function had been disabled in favor of a human backup driver. Tempe police said the driver was distracted and streaming a television show before the crash.

NEW YORK (AP) — The Kushner family real estate company has been fined $210,000 by New York City regulators following an Associated Press investigation that showed it routinely filed false documents with the city claiming it had no rent-regulated tenants in its buildings when it, in fact, had hundreds. The fine covers 42 false applications for construction work on more than a dozen buildings when presidential adviser Jared Kushner ran the business. The Housing Rights Initiative has accused the Kushner Cos. of harassing low-paying, rent-regulated tenants to get them to leave.

NEW YORK (AP) — Amazon is paying workers to defend the company on Twitter, reassuring critics that they make enough money to live and are allowed to take bathroom breaks. The tweets are part of Amazon’s plan to combat negative headlines and online chatter about poor working conditions at its warehouses. Amazon says the “ambassadors” are not told what to write, though some on social media have been skeptical of their cheery messages and called them bots.

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