Stocks mostly lower... Producer prices dip...EU to set time limit for internet firms to remove extremist content
NEW YORK (AP) — Stock indexes are mostly lower in morning trading on Wall Street. Energy companies continue to rise with oil prices, but technology companies are falling. Oil and gasoline prices have jumped this week, partly because investors think Hurricane Florence might cause shortages. Apple is expected to introduce new iPhone models later in today.
WASHINGTON (AP) — Wholesale prices fell unexpectedly last month for the first time since February 2017, pulled down by falling prices for transportation and warehousing services. The Labor Department says its producer price index — which measures inflation before it reaches consumers — fell 0.1 percent in August after being flat in July. Producer prices were up 2.8 percent from August 2017. Excluding volatile food and energy prices, so-called core wholesale inflation also slipped 0.1 percent from July but rose 2.3 percent from July 2017.
BRUSSELS (AP) — European authorities are planning to slap internet companies like Google and Facebook with big fines if they don’t take down extremist content within one hour. The EU’s executive body says extremist material “that prepares, incites or glorifies acts of terrorism” must be taken offline. Content would be flagged up by national authorities, who would issue removal orders to the internet companies hosting it. Those companies would be given one hour to delete it.
UNDATED (AP) — Mastercard is rolling out a digital trade platform designed to make it easier for small- and medium-sized companies to do business around the world. The company’s Mastercard Track will, among other things, help businesses identify and assess potential international customers and suppliers, and manage global payments electronically. The database will include information on more than 150 million companies worldwide. Mastercard developed Track in collaboration with Microsoft and is working with nine companies that supply business-to-business software.
NEW YORK (AP) — Some McDonald’s workers are going on strike next week. Workers have voted to stage a one-day strike next week at restaurants in 10 cities. They want to pressure management to take stronger steps against on-the-job sexual harassment. The cities include Chicago, Kansas City, Los Angeles, Miami, San Francisco and Milwaukee. McDonald’s defends its anti-harassment efforts and says it has specific policies designed to prevent sexual misconduct at its restaurants.