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Stocks waver...UN predicts expanding global economic growth...rue21 files for Chapter 11 bankruptcy

May 16, 2017

NEW YORK (AP) — The major U.S. stock indexes are wavering between small gains and losses a day after the market closed at record highs. Investors are sizing up the latest crop of company earnings and new data on home construction and industrial production. Health care and real estate companies fell more than the rest of the market. Technology stocks led the gainers.

UNITED NATIONS (AP) — The United Nations is predicting expanding global economic growth in the next two years, spurred by stronger growth in the last six months and a modest recovery in trade and investment. In its mid-year update, the U.N. says the acceleration is underpinned by firm economic growth in many developed countries and strengthened prospects in countries in transition. But the report says “the outlook for some developing regions has deteriorated since January” and “prospects for Africa, in particular, raise concerns.”

DETROIT (AP) — The automotive parts and electronics maker Delphi is the latest company to partner with BMW, Intel and Mobileye in a joint bid to develop autonomous vehicles. The companies say Delphi will help to integrate autonomous driving systems. BMW, Intel and Mobileye joined forces in July of 2016. They plan to start producing automated vehicle systems by 2021. The broadening coalition that includes Delphi is one of a growing number of partnerships between tech and auto giants.

CRANBERRY, Pa. (AP) — Teen clothing retailer rue21 is restructuring and filing for Chapter 11 bankruptcy protection about a month after announcing it would close roughly 400 stores to focus on online sales. The company says it plans to keep open more than 700 stores in 48 states, but could close more.

TORONTO (AP) — Canada’s transportation minister says no one who has bought a ticket for a flight will be allowed to be removed because of overbooking under a new passenger bill of rights. Minister Marc Garneau says shoddy treatment of air passengers outlined in recent news reports will not be tolerated on any flight leaving or arriving to Canada. The new regulation comes a month after cellphone video captured a passenger being dragged off a United Airlines flight in Chicago after he refused to leave his seat to accommodate airline crew members.

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