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Stocks stumble on Wall Street ... Amazon-Headquarters Search ... Kia-Recall

October 23, 2017

NEW YORK (AP) — Industrial and technology companies and retailers all stumbled today as U.S. stocks began the week with losses. General Electric suffered its worst one-day loss in six years following downgrades from analysts. The Standard & Poor’s 500 index lost 10.23 points, while the Dow Jones industrial average fell 54.67 points and the Nasdaq composite dropped 42.23 points.

NEW YORK (AP) — Amazon will be sorting through 238 proposals from cities and regions in the United States, Canada and Mexico that are hoping to land the company’s second headquarters and the investment it’ll bring. The online had retailer kicked off its hunt for a second home base in September, promising 50,000 new jobs and construction spending of more than $5 billion.

WASHINGTON (AP) — Eight former members of a federal energy panel — including five former chairs — oppose a Trump administration plan to bolster nuclear and coal-fired power plants.The former officials, who served under presidents from both parties, call the plan “a significant step backward” and say it would raise prices and disrupt electricity markets.

DETROIT (AP) — Kia Motors Corp. is recalling 342,381 vehicles in the U.S. for a second time because the first repair may not have solved a steering defect. The recall affects the Soul and Soul EV from the 2014-2016 model years. Kia says a pinion plug may not be properly secured, which could allow the pinion gear to separate from the steering assembly. If that happens, steering function can be lost, increasing the risk of a crash.

NATCHEZ, Miss. (AP) — A British company aims to build a refinery in southwest Mississippi that will turn wood into the equivalent of diesel or jet fuel. Velocys announced that it has signed an option for a 100-acre (40-hectare) site in Natchez. The Natchez Democrat reports Velocys plans 40 refinery jobs paying an average of $100,000 yearly, and could indirectly support another 100 forestry jobs paying $40,000 on average.

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