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Business Highlights

By The Associated PressJune 3, 2019

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Apple previews new software as it diversifies beyond iPhones

SAN JOSE, Calif. (AP) — Apple revealed upcoming changes to its phone and computer software Monday, some intended to support new digital services intended to offset eroding sales of the iPhone. Apple emphasized privacy protections in its presentation, much like Google and Facebook have done recently. Many of the updates offered incremental changes, such as Apple’s plan to break up its iTunes software for computers in favor of separate apps for music, video and podcasts.

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China data suggests trade war hit; tech group reverses stand

BEIJING (AP) — A new report on Chinese manufacturing suggests Beijing’s trade war with the Trump administration is causing economic damage domestically. And the world’s largest body of technology professionals, IEEE, said it was lifting a restriction on research cooperation it had imposed on employees of Chinese tech giant Huawei.

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Trump, in tussle with CNN, suggests boycott of parent AT&T

NEW YORK (AP) — President Donald Trump has taken to Twitter to reiterate his complaints about CNN. He’s suggesting a boycott of its parent company, AT&T, to force “big changes” at CNN. Trump tweeted soon after his arrival in London for a pomp-filled state visit to Britain. Trump has long criticized CNN over its coverage of him and his administration.

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US aims to help more cancer patients try experimental drugs

CHICAGO (AP) — U.S. drug regulators are launching a project aimed at giving more cancer patients a chance to try treatments that are not yet on the market but that have shown some promise in early testing. The goal is to increase what’s called “compassionate use” access to experimental medicines. Under the plan announced Monday, the Food and Drug Administration will become the first step in the process and will help doctors with paperwork to make the patient’s case to drug companies.

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French Laundry, chef Thomas Keller sued for discrimination

SAN FRANCISCO (AP) — A former employee of famed chef Thomas Keller is suing him and his three-star Michelin restaurants for pregnancy discrimination. Keller was in court Monday as the trial opened in California’s Napa Valley. Vanessa Scott-Allen is suing Keller, Per Se in New York and the French Laundry in California. Scott-Allen was a head server at Per Se and alleges she was denied a transfer to the French Laundry and ultimately let go because after telling her bosses she was pregnant.

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California sues opioid maker Purdue Pharma

SACRAMENTO, Calif. (AP) — California became the latest state to sue the pharmaceutical company behind the painkiller OxyContin. The lawsuit filed Monday accuses Purdue Pharma of falsely promoting the drug as not addictive even as it emerged as among the most widely abused in the United States. The company denied the allegations and said it will defend against the “misleading attacks.”

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Lawsuit claims oil boom imperils national park in New Mexico

ALBUQUERQUE, N.M. (AP) — Environmentalists are accusing U.S. land managers of violating federal environmental laws and their own regulations when issuing dozens of leases to drill in one of the nation’s busiest oilfields. WildEarth Guardians filed a lawsuit Monday in U.S. District Court, claiming the oil boom in southeastern New Mexico is a threat to Carlsbad Caverns National Park and the surrounding area’s cave systems and desert slopes.

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Market for small businesses appears waning, survey says

NEW YORK (AP) — The boom market in small businesses appears to have peaked and is now waning. That’s the finding of a survey of brokers and advisers who help owners and buyers complete sales of small and mid-size businesses. The survey was conducted by researchers at Pepperdine University and two industry groups. It found that owners are less optimistic about selling than they were a year ago. The drop in optimism was particularly notable among owners of businesses valued in the $1 million to $2 million range.

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Poland Spring to use 100% recycled plastic for bottles

PORTLAND, Maine (AP) — Poland Spring has announced a plan to use 100% recycled plastic for all its noncarbonated water containers. The Maine-based company said Monday that the effort kicks off this month with 1-liter bottles. The company plans to use 100% recycled plastic for bottles in all of its still water line by 2022. The migration comes as the bottled water industry faces continued criticism over its use of plastic.

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US stock indexes end mixed; Nasdaq slumps on big tech slide

NEW YORK (AP) — Major U.S. stock indexes ended mostly lower Monday amid signs that the Trump administration is laying the groundwork to ratchet up scrutiny on some of the market’s biggest names: Apple, Facebook, Amazon and Google. That led to losses in communications, technology and consumer discretionary sector stocks, which outweighed gains elsewhere in the market. The selling knocked the tech-heavy Nasdaq composite into a correction, what Wall Street calls a drop of 10% or more from a recent peak.

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The S&P 500 index fell 7.61 points, or 0.3%, to 2,744.45. The Dow Jones Industrial Average added 4.74 points, or less than 0.1%, to 24,819.78. The Nasdaq composite lost 120.13 points, or 1.6%, to 7,333.02. The Russell 2000 index of small companies rose 4.50 points, or 0.3%, to 1,469.98.

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