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Shutdown faceoff...Stocks gain ground...Netflix raises rates

January 15, 2019

WASHINGTON (AP) — About a dozen new House Democrats walked across the Capitol grounds to personally ask Senate Majority Leader Mitch McConnell to pass bills that would reopen parts of the government. But McConnell was on the Senate floor, managing a vote at the time. Rep. Ilhan Omar, a Minnesota Democrat said the lawmakers were there to “remind Mitch McConnell that he works for the people and not for this administration.”

NEW YORK (AP) — U.S. stocks have risen to their highest levels in a month, led by technology and internet companies as well as health care companies. Netflix jumped after saying it will increase subscription prices in the U.S. The British pound wobbled after Parliament rejected Prime Minister Theresa May’s plan detailing the UK’s departure from the European Union. The Dow added 156 points The S&P rose 28 points. The technology-heavy Nasdaq jumped 118 points.

WASHINGTON (AP) — U.S. wholesale prices fell last month, dragged down by a steep drop in gas costs, suggesting that inflation will remain tame in the coming months. The Labor Department said that the producer price index — which tracks cost changes before they reach the consumer — fell 0.2 percent in December from the previous month.

SAN JUAN, Puerto Rico (AP) — A federal control board that oversees Puerto Rico’s finances is asking a court to invalidate more than $6 billion worth of debt issued by the U.S. territory, a move that would hit bondholders. The board says the debt includes all general obligation bonds that were issued in 2012 and 2014 in “clear violation” of debt limits established by Puerto Rico’s Constitution.

SAN FRANCISCO (AP) — Netflix is raising its U.S. prices by 13 percent to 18 percent, its biggest increase since the company launched its streaming service 12 years ago. Its most popular plan will see the largest price hike, to $13 per month from $11. The extra cash will help to pay for Netflix’s huge investment in original shows and films and finance the heavy debt it has assumed to ward off rivals such as Amazon, Disney and AT&T.

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