Stocks rally...Trump says trade changes are just starting...Court sides with waiters in tip fight
NEW YORK (AP) — Stocks have closed solidly higher as Wall Street largely brushed off the Trump administration’s decision to impose tariffs on an additional $200 billion of Chinese goods. Gains in technology stocks and consumer-focused companies powered a broad rally. The Dow Jones Industrial Average climbed 185 points, the S&P 500 index gained 16 points and the Nasdaq composite was up 60.
WASHINGTON (AP) — President Donald Trump is defending the nation’s continuing trade deficits, arguing that he’s only “just started.” Trump told reporters at a joint White House press conference with the president of Poland that “this is a process” and that “it takes a little time.” Trump says the U.S. has been “ripped off” by China, the European Union and “virtually every country that it does business” with for too long. He says he’s no longer letting that happen.
SAN FRANCISCO (AP) — A U.S. appeals court is siding with bartenders and waiters in a fight over whether restaurants can pay them less because they receive tips. Under federal law, an employer can pay workers who receive tips as little as $2.13 an hour as long as their tips bring their earnings to minimum wage. But the 9th U.S. Circuit Court of Appeals ruled today that employers cannot use that tip credit when the workers are engaged in tasks unrelated to bartending or serving, such as cleaning toilets.
NEW ORLEANS (AP) — McDonald’s workers are staging protests in several cities in what organizers called the first multi-state strike seeking to combat sexual harassment in the workplace. Protesters are demanding that McDonalds require anti-harassment training for managers and employees. The fast food chain defends its policies.
LOS ANGELES (AP) — Los Angeles is taking steps to ban the sale of new fur products. The City Council has voted unanimously to direct the city attorney to draft an ordinance that would prohibit the manufacture and sale of new fur products. The ban would cover apparel made in whole or in part of fur, including clothing, handbags, shoes, hats, earmuffs, jewelry and keychains. The ordinance must be presented to the council at a future date for final approval.