AP NEWS

Business Highlights

June 5, 2019

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Mexican officials try to stave off tariffs at White House

WASHINGTON (AP) — Mexican and U.S. officials met late into the day Tuesday at the White House trying to stave off President Donald Trump’s threatened tariffs on all Mexican goods flowing into the United States. The first tariffs — 5% taxes on imports from Mexico — are to go into effect next Monday, and Trump has said that is “more likely” than not to occur despite stiff and vocal opposition from many fellow Republicans in Congress.

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US tariffs looming, many in Mexico back president’s approach

MEXICO CITY (AP) — Many Mexicans say their president is right to take a calm approach in dealing with the Trump administration, which has set a Monday deadline to either do something about the flow of migrants into the US or be hit with a minimum 5% tariff. But Mexican political scientist Isidro Morales is calling for President Andrés Manuel López Obrador to be more firm, saying trade threats should not be used as leverage to force Mexico on the unrelated issue of migration.

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Is there finally more help in the fight against robocalls?

NEW YORK (AP) — Is the world getting safer from robocalls? It’s not clear. The Federal Communications Commission plans to vote Thursday on giving wireless carriers permission to do more against them, but they aren’t requiring it — yet. A bill passed by the Senate would mandate next steps carriers must take — but it’s not a cure-all. There are already concerns that scammers can outwit the latest moves in the arms race.

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YouTube updates hate speech guidelines to prohibit videos

SAN FRANCISCO (AP) — YouTube is updating its hate speech policies to prohibit videos with white supremacist and neo-Nazi content. The video streaming company says it has already made it more difficult to find such videos, but it’s now removing them outright.

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Cuba restrictions hit cruise lines at the start of summer

MIAMI (AP) — The Trump administration’s new restrictions on travel to Cuba will hit hardest at the cruise industry. The rules announced Tuesday will take away an increasingly popular destination at the start of the critical summer vacation season. Major cruise lines immediately dropped stops in Cuba from their itineraries and hastily rerouted ships to other destinations including Mexico. At docks in Florida and aboard ships at sea, frustrated travelers vented over wrecked vacation plans.

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Rebranded Koch network shifts spotlight to nonprofit work

SEATTLE (AP) — Charles Koch’s latest initiative tackling poverty through philanthropy shifts the focus away from his powerful political work. The Stand Together Foundation instead supports innocuous charity work by leaning deeper into the traditional philanthropy model of giving grants to benefit local community groups. But while the foundation spent $30 million to help private nonprofits last year, Koch’s network of wealthy donors and political groups pledged to spend $400 million on politics and policy.

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Amazon says drones will be making deliveries ‘in months’

LAS VEGAS (AP) — Amazon says it expects to be delivering orders to shoppers’ homes by drones in the coming months. The online shopping giant did not give exact timing or say which locations the self-driving drones will be making deliveries. The company says the new drones are able to detect and avoid people, pets and laundry clothes lines in customer’s backyards when landing.

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EU wary on budget impact of Greece’s new benefits, tax cuts

ATHENS, Greece (AP) — The European Commission has voiced concern at the impact new benefits and sales tax cuts will have on Greece’s austerity commitments. Athens has promised bailout creditors high budget surpluses for years to come, so it can continue servicing its debts.

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Online Rx startups offer convenience but also raise concerns

WASHINGTON (AP) — A wave of online startups are using viral marketing and glitzy packaging to push decades-old prescription pills for hair loss, sexual problems and other sensitive health issues. Driving the trend is consumer demand for convenience and millions in venture funding. But some experts worry the on-demand services are cutting medical corners at the expense of quality care.

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Tech companies lead US stocks broadly higher; oil slumps

NEW YORK (AP) — Stocks closed higher on Wall Street for the second straight day Wednesday, extending the market’s strong gains from the previous day. Technology, industrial and health care companies accounted for much of the broad gains. A slide in energy stocks following a 3.4% plunge in the price of U.S. crude oil tempered the market’s gains. Signs that the Federal Reserve is willing to cut interest rates to reinforce economic growth are encouraging investors to bid up stocks after a tough start to the week.

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The S&P 500 index gained 22.88 points, or 0.8%, to 2,826.15. The Dow Jones Industrial Average climbed 207.39 points, or 0.8%, to 25,539.57. The Nasdaq composite rose 48.36 points, or 0.6%, to 7,575.48. The Russell 2000 index of smaller companies slipped 1.77 points, or 0.1%, to 1,506.79.

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