AP NEWS
Click to copy
Click to copy

Business Highlights

By The Associated PressMay 29, 2019

___

Ethiopian pilot pleaded for training weeks before Max crash

NEW YORK (AP) — Emails obtained by The Associated Press show an Ethiopian Airlines pilot pleaded with bosses for more training on the Boeing 737 Max just weeks before one of the airline’s jets crashed. Pilot Bernd Kai von Hoesslin began emailing managers at Ethiopian just days after a Lion Air Max crashed in Indonesia last October, killing 189. He warned that without more training, specifically on the Max’s anti-stall system, Ethiopian’s pilots could be overwhelmed and their plane could next to crash.

___

US stocks close lower, on track for 1st monthly loss of 2019

NEW YORK (AP) — Another round of selling gripped Wall Street on Wednesday as nervous investors fled health care, technology and other high-risk stocks in favor of the safety of bonds. The broad sell-off, which lost some momentum in the last hour of trading, keeps the market on track for its fourth consecutive weekly loss and its first monthly drop this year. Bond prices held steady after an early slide. Investors are worried that the U.S.-China trade war will derail global economic growth.

___

AP: Purdue foreign arm caught up in opioid probe in Europe

PARMA, Italy (AP) — A new Associated Press report finds Big Pharma still pushed opioids overseas even amid the American epidemic. The report details a vast corruption investigation in Italy alleging pharmaceutical officials paid a pain doctor who wrote studies and organized events that would help them market opioids in the country. Two managers with the foreign arm of Purdue Pharma have accepted pleas in connection with the case.

___

China dangles a potentially harmful new threat in trade war

WASHINGTON (AP) — Facing new trade sanctions and a U.S. clampdown on their top telecommunications company, the Chinese issued a pointed reminder that they have new weapons for a trade war, too: State media suggested that China could cut America off from exotic minerals used in electric cars and mobile phones. The threat to use the country’s rich supply of so-called rare earths as leverage in a trade war with the United States contributed to losses on the U.S. stock market.

___

As craft beer market grows, so do wild flavors

Brewers have always experimented. But as craft beers have boomed, competition for attention has intensified. That has a lot of brewers looking for ways to differentiate themselves and get noticed. At the Strange Brew Festival in Reno, Nevada, this month, visitors could sample a peanut butter and pickle pilsner, a tamale lager and a smoked carrot stout. The Brewers Association says the U.S. had 7,346 craft brewers last year, up 93% from 2014.

___

On the Money: Mainstream autos get driver-monitoring devices

DETROIT (AP) — Would you pay more for a car or SUV that warns you if you’re falling asleep or not paying attention behind the wheel? Auto companies are figuring that because your life could depend on it, you will. As safety features such as automatic emergency braking and lane-centering make their way from luxury vehicles down to lower-cost rides for the masses, distracted driver alert systems are coming with them.

___

Veteran China dissident urges linking of human rights, trade

TOKYO (AP) — Veteran Chinese dissident Wang Dan is urging Western nations to restore the link between human rights and trade with China. Wang was speaking Wednesday in Tokyo days ahead of the 30th anniversary of the 1989 student pro-democracy protests centered on Beijing’s Tiananmen Square, of which he was a key leader.

___

Uber to boot riders from app if they repeatedly misbehave

SAN FRANCISCO (AP) — If you misbehave repeatedly while getting a ride from Uber, you could get booted off the app. The company says that starting Wednesday, riders with a rating from drivers that’s significantly below average could lose their ability to ride. But before that happens they’ll get tips on how to improve ratings by being polite, not leaving trash in vehicles and not asking the driver to violate the speed limit. Uber says they’ll get several chances to improve their rating before getting the boot.

___

Airlines group: Boeing jet won’t return before August

GENEVA (AP) — The global airline trade group says it expects the Boeing 737 Max jet will remain grounded at least through mid-August after two deadly crashes. The spokesman for the International Air Transport Association, Anthony Concil, said Wednesday that the group estimates the planes will not fly for at least another 10-12 weeks.

___

Crumbling roads, spotty internet trouble small businesses

NEW YORK (AP) — Small businesses want the federal government to follow through on promises of $2 trillion to rebuild the nation’s infrastructure. The problem isn’t just crumbling roads and bridges, but also a need for broadband coverage in areas where internet and cellphone service is poor. All businesses must deal with added expenses caused by poor infrastructure, but smaller companies don’t have revenue cushions to absorb those costs. They also lose revenue when employees are stuck in traffic on bad roads.

___

The S&P 500 index fell 19.37 points, or 0.7%, to 2,783.02. The Dow Jones Industrial Average lost 221.36 points, or 0.9%, to 25,126.41. The Nasdaq composite slid 60.04 points, or 0.8%, to 7,547.31. The Russell 2000 index of small companies dropped 14.07 points, or 0.9%, to 1,489.95.

All contents © copyright 2019 The Associated Press. All rights reserved.