Stocks lose ground...Former VW officials charged...Lyft bike safety concerns
NEW YORK (AP) — Stocks are closing lower on Wall Street as falling bank stocks led the S&P to just its third loss in the last three weeks. Goldman Sachs and Citigroup each said their stock trading businesses struggled in the first quarter The Dow dropped 27 points. The S&P fell 1 point. The Nasdaq fell 8 points
FRANKFURT, Germany (AP) — German prosecutors charged former have indicted former Volkswagen CEO Martin Winterkorn and four others on charges of fraud and unfair competition. They say Winterkorn knew about the deceptive practice of using engine software to manipulate diesel engines’ emissions. Winterkorn’s lawyers have declined to comment while they review the case files.
NEW YORK (AP) — Ride-hailing giant Lyft has pulled 3,000 electric bikes off the streets after customers complained the bikes were braking too hard. Lyft removed electric bikes from its New York, San Francisco and Washington, D.C. markets. A spokeswoman said Monday that Lyft is aware of reports of injuries, but the company wouldn’t specify the number of complaints it received. On Twitter some riders complained of being thrown over the handlebars after hitting the brakes.
REDMOND, Wash. (AP) — Microsoft is revamping its practices for investigating workplace allegations after a group of women shared stories of discrimination and sexual harassment. The company is increasing support services for workers who say they’ve experienced misbehavior, including a new “Employee Advocacy Team” to help guide employees through investigations. Microsoft will also require inclusivity training for all its roughly 16,000 managers.
WASHINGTON (AP) — The Supreme Court’s nine justices discussed a trademark case Monday involving a Los Angeles-based fashion brand that sounds like an obscenity that begins with the letter “F.” But the justices got through about an hour of arguments without saying the brand’s name. The case has to do with a portion of federal law that says officials should not register trademarks that are “scandalous” or “immoral.” Officials have refused to register the brand’s name as a result.