Business Highlights

February 26, 2018


AP Exclusive: Transport safety rules rolled back under Trump

WASHINGTON (AP) — President Donald Trump has pledged to reduce federal regulations. In a tweet last month, he says, “There is much more to come!” But a review of the Transportation Department’s activity conducted by The Associated Press shows that about a dozen crucial rules in the works have been repealed, withdrawn, delayed, or put on the back burner since Trump took office.


Why Trump’s effort to curb immigration could hurt US economy

WASHINGTON (AP) — Lost in the immigration debate raging in Washington is the vital economic role played by immigrants who don’t have the education, training or skills that the Trump administration and many Republicans in Congress say should be a pre-requisite. Economists say that especially with unemployment at a 17-year low and the growth of the workforce slowing, immigrants — skilled as well as unskilled — are vital to the economy.


Stocks power higher again as Treasury yields ease

NEW YORK (AP) — Stocks jumped, with gains again accelerating in the last hour, as markets around the world continue to claw back from a sharp tumble earlier this month. The S&P 500 powered to a third straight gain. The index has erased about two-thirds of the 10 percent loss it had in early February. Investors were encouraged by a drop in Treasury yields, which have been at the center of worries for stock investors in recent weeks. Some were still surprised by how much the market climbed..


Court: US anti-discrimination law covers sexual orientation

NEW YORK (AP) — Ruling in the case of a gay skydiving instructor, a federal appeals court in New York has become the second one in the country to declare that U.S. anti-discrimination law protects employees from being fired over their sexual orientation. The decision could set the stage for an appeal to the U.S. Supreme Court to settle the question once and for all.


Denver weighs Olympics bid years after withdrawing as host

DENVER (AP) — Denver is exploring whether to try to host the Winter Olympics years after becoming the only city to withdraw as an Olympic host after winning a bid. The city won a bid to host the 1976 Winter Olympics, but it backed off amid questions about costs, logistics and environmental impact. The leader of a committee exploring a possible new bid says only three venues would have to be built, and all three would be temporary facilities.


Gorsuch silent as divided Supreme Court spars over unions

WASHINGTON (AP) — A divided Supreme Court sparred over a case that could undermine the financial footing of labor unions that represent government workers. But Justice Neil Gorsuch had nothing to say during arguments in a case in which he holds the decisive vote. The court took up a challenge to an Illinois law that allows unions representing government employees to collect fees from workers who choose not to join.


Trump Org. donates foreign profits but won’t say how much

WASHINGTON (AP) — The Trump Organization says it has made good on the president’s promise to donate profits from foreign government spending at its hotels to the U.S. Treasury. But both the company and government refused to say how much. Watchdog groups seized on the lack of detail as another example of the secrecy surrounding President Donald Trump’s pledges to separate his administration from his business empire.


Appeals court says FTC can police telecommunications cos.

NEW YORK (AP) — A U.S. appeals court says the Federal Trade Commission can police telecommunications companies like AT&T — a ruling that’s important because another agency is dropping its oversight with repeal of “net neutrality” rules governing customer access to apps and websites. The case is over claims that AT&T misled smartphone customers in offering unlimited data plans, but slowing speeds for heavy users.


The Standard & Poor’s 500 index gained 32.30 points, or 1.2 percent, to 2,779.60. The Dow Jones industrial average rose 399.28, or 1.6 percent, to 25,709.27, and the Nasdaq composite gained 84.07, or 1.1 percent, to 7,421.46. The Russell 2000 index of smaller-company stocks tacked on 10.15 points, or 0.7 percent, at 1,559.33.

Benchmark U.S. crude oil rose 36 cents to settle at $63.91 per barrel. Brent crude, the international standard, gained 19 cents to $67.50 a barrel. Natural gas rose 1 cent to $2.64 per 1,000 cubic feet, heating oil added 2 cents to $1.99 per gallon and wholesale gasoline gained 2 cents to $1.83 per gallon.

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