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Business Highlights

June 23, 2017


Five GOP senators now oppose health bill — enough to sink it

WASHINGTON (AP) — Nevada Republican Dean Heller became the fifth GOP senator to declare his opposition to the party’s banner legislation to scuttle much of Barack Obama’s health care overhaul on Friday. That’s more than enough to sink the measure and deliver a stinging rebuke to President Donald Trump unless some of them can be brought aboard.


Kids today: They don’t work summer jobs the way they used to

WASHINGTON (AP) — Instead of baling hay, scooping ice cream or stocking supermarket shelves in July and August, today’s teens are increasingly likely to be enrolled in summer school, doing volunteer work to burnish their college credentials or just hanging out with friends.


Google to stop reading your Gmail to help sell ads

SAN FRANCISCO (AP) — Google is going to stop reading your Gmail in search of opportunities to sell ads. The change announced Friday will end a practice that Google has embraced since the company introduced Gmail in 2004, even though it raised concerns among privacy watchdogs and creeped out some users. Google still plans to show ads within Gmail, but will rely on signals other than scanning through email content.


The pain and gain of Brexit vote: British economy a year on

LONDON (AP) — Few events outside of war can have quite as much impact on the economy of a country as Britain’s decision a year ago to leave the European Union. The momentous vote on June 23, 2016 has the potential to sever Britain’s ties to its main trading partner. One year on from the vote, the economy has defied predictions of recession, but it has seen the expected slide in the pound and rise in inflation.


US indexes inch higher as energy stocks claw from the hole

NEW YORK (AP) — U.S. stock indexes nudged higher Friday after rising prices for oil and natural gas helped energy companies claw back some of their sharp losses from earlier in the week.


Honda denies covering up dangers of Takata air bags

DETROIT (AP) — Honda is going public in an effort to debunk claims by lawyers that it knew about the hazards of exploding Takata air bag inflators nearly two decades ago but covered them up. The public escalation of Honda’s fight comes just three days before Takata Corp. is expected to file for bankruptcy protection in Japan and the United States.


New homes sales rebounded 2.9 percent in May

WASHINGTON (AP) — Sales of new homes rebounded in May, helped by strong sales gains in the South and West. The Commerce Department says sales of new single-family homes rose 2.9 percent last month to a seasonally adjusted annual rate of 610,000.


Qatar weighs demands to end crisis amid threat of long siege

DUBAI, United Arab Emirates (AP) — The tiny Gulf nation of Qatar is weighing an onerous list of demands by its neighbors as a way out of a regional crisis, and a top Emirati official warned it to brace for a long-term economic squeeze unless it complies. Qatar did not immediately respond after receiving a clear set of demands for the first time, but the ultimatum was quickly rejected by ally Turkey and blasted as an assault on free speech by Qatari broadcaster Al-Jazeera.


Kansas jury awards $218M to farmers in Syngenta GMO suit

KANSAS CITY, Mo. (AP) — A federal jury in Kansas has awarded nearly $218 million to farmers who sued Swiss agribusiness giant Syngenta over its introduction of a genetically engineered corn seed. Syngenta vowed to appeal the verdict in what served as the first test case of tens of thousands of U.S. lawsuits assailing Syngenta’s decision to introduce its Viptera seed strain to the U.S. market before China approved it for imports. The lawsuits say that wrecked an increasingly important export market for U.S. corn, causing years of depressed corn prices.


Sears closes another 20 stores

NEW YORK (AP) — Sears Holdings Corp. is shutting down another 20 stores, on top of more than 200 closings already announced this year, as the ailing retailer tries to turn around its business.


The Standard & Poor’s 500 rose 3.80 points, or 0.2 percent, to end at 2,438.30. The Dow Jones industrial average slipped 2.53 points, or less than 0.1 percent, to 21,394.76, and the Nasdaq composite gained 28.56, or 0.5 percent, to 6,265.25.

Benchmark U.S. crude added 27 cents to settle at $43.01 per barrel. Brent crude, the international standard, gained 32 cents to $45.54 and natural gas rose 4 cents, or 1.2 percent, to $2.93 per 1,000 cubic feet. Heating oil was close to flat at $1.37 per gallon and wholesale gasoline was little changed at $1.43 per gallon.

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