Stock stumble but finish up ... British bank chief: no-deal Brexit the default ... US-China talks
NEW YORK (AP) — A late stumble took away much of the gains from an early rally but major U.S. indexes still ended slightly higher on Wall Street. Another drop in Boeing held back the Dow Jones Industrial Average, but the 30-stock index still managed to post a 39-point gain, closing at 26,218. The S&P 500 rose 6 points to 2,873, while the Nasdaq added 46 to 7,895.
LONDON (AP) — Bank of England governor Mark Carney says the risk of Britain accidentally crashing out of the European Union without a divorce agreement is “alarmingly high” and it’s “absolute nonsense” to suggest such a situation could be managed. Speaking to British broadcaster Sky News, Carney says even though Prime Minister Theresa May, Parliament and the European Union all have the stated goal of avoiding a no-deal Brexit, the U.K. leaving without an agreement remains the default position by law.
WASHINGTON (AP) — The U.S. and China have opened a ninth round of talks, aiming to further narrow differences in an ongoing trade war that’s feeding worries over the outlook for the global economy. At the heart of the dispute are the Trump administration’s allegations that China steals technology and coerces U.S. companies to hand over trade secrets.
SUPERIOS, Wis. (AP) — Husky Energy says it will invest more than $400 million to rebuild its oil refinery in Superior, Wisconsin, and continue its use of a highly toxic chemical that raised fears in the community of 27,000 after an explosion at the refinery last April. The blast injured 36 people and required the evacuation of much of Superior due in large part to the presence of hydrogen fluoride, which can be hazardous to human health. The tank containing the chemical was not damaged by the explosion. The refinery expects to resume some operations in late 2020.
DES MOINES, Iowa (AP) — An Iowa Republican senator is expressing irritation at President Donald Trump’s comments about wind energy. At the National Republican Congressional Committee’s annual spring dinner last night, Trump said noise from wind turbines causes cancer. In a conference call with reporters today, Sen. Chuck Grassley called the comments “idiotic.” Grassley was instrumental in approving a federal tax credit 26 years ago that has spurred wind energy development. Iowa is a national leader in wind energy, with more than 4,000 turbines.