Stocks suffer modest losses on Wall Street ... Macy's Report ... Uber Firings
Jun. 06, 2017
NEW YORK (AP) — Disappointing results from several retailers weighed on U.S. stocks in afternoon trading, extending the market's modest losses from the day before. Energy stocks led the gainers as crude oil prices rebounded.The Standard & Poor's 500 index fell 3 points. The Dow Jones industrial average slid 27 points and the Nasdaq composite index was down less than 1 point.
NEW YORK (AP) — Macy's has warned investors that its profit margins would keep shrinking this year, sending shares in the chain tumbling more than 8 percent and affecting other department store stocks. Randal J. Konik, a stock analyst at Jefferies, said the struggling department store chain told analysts at an investor meeting today that its gross profit margin could be 0.6 percent to 0.8 percent lower than last year.
DETROIT (AP) — Uber has fired more than 20 employees after a law firm investigated complaints of sexual harassment, bullying, discrimination and other violations of company policies. The recent firings included both managers and lower-level workers, some of whom retaliated against employees after they complained about bad conduct at the ride-hailing firm. That's according to Bobbie Wilson, a Perkins Coie partner involved in the investigation.
NEW YORK (AP) — An Illinois judge today ordered satellite-TV company Dish to pay $280 million for calling people who said they didn't want to be bothered by telemarketers. The court found that Dish "caused millions and millions of violations of the Do Not Call Laws." Telemarketers are barred from calling people who have joined federal or state do-not-call registries or who've asked companies to leave them alone.
WASHINGTON (AP) — Businesses and advocates for workers are forming a rare alliance against President Donald Trump's proposal to overhaul the way the government investigates workplace discrimination, part of what his critics say is a broader swipe at decades of civil rights protections. Trump wants to merge the Equal Employment Opportunity Commission with a lesser known agency that also enforces laws on equality in the workplace. The EEOC is an independent agency that investigates discrimination complaints against private businesses