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Mixed start for stocks ... Abercrombie no longer for sale ... EU takes dim view of Brexit plan

July 10, 2017

NEW YORK (AP) — Stocks are off to a mixed start on Wall Street as losses for banks and energy companies outweigh gains in technology companies. Chevron fell 0.8 percent in early trading, and Wells Fargo lost 0.6 percent. Microsoft rose 0.5 percent. Abercrombie & Fitch plunged 16 percent after the clothing seller said it was no longer seeking a sale.

NEW YORK (AP) —Abercrombie & Fitch said in May that it was it in talks with several parties about a potential deal, but today the teen retailer says it has ended all such negotiations. Abercrombie says sales remain strong at its surf-inspired Hollister brand and it’s continuing to work on improving the performance at its flagship stores. Lower-cost, fast-fashion stores like H&M and Forever 21 have eaten into Abercrombie’s market share.

BRUSSELS (AP) — The European Parliament’s group on Brexit negotiations has made a damning assessment of British proposals on EU citizens’ rights after the U.K. leaves the European Union. In a letter Monday to EU chief negotiator Michel Barnier, the group says “the U.K. does not respect the principles of reciprocity, symmetry and non-discrimination.” It goes on to day that under the U.K. proposals, EU citizens in Britain would be looking at “nothing less than relegation to second-class status.”

KIEV, Ukraine (AP) — NATO’s secretary-general says the alliance is supplying hardware to the Ukrainian government to help protect its government networks from cyberattacks. At a news conference in Kiev alongside Ukrainian President Petro Poroshenko, Jens Stoltenberg told journalists the gear would “help Ukraine investigate who is behind the different attacks.” A cyberattack last month crippled computers across the country. Kiev blames Russia for the intrusions, charges the Kremlin denies.

BERLIN (AP) — German prosecutors say they’ve opened an investigation into employees of Porsche and an American subsidiary over the possible manipulation of diesel emissions. Porsche is a unit of Volkswagen AG. Volkswagen has acknowledged equipping about 11 million cars worldwide with software that sensed when cars were on test stands and turned emission controls up, then turned the controls off during every day driving to improve performance.

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