Business

US, China putting trade war on hold after progress in talks

China US Trade

The world's two biggest economies are pulling back from the brink of a trade war after making...

Business

JC Penney's CEO Ellison departs for Lowe's, shares plunge

MOORESVILLE, N.C. (AP) — J.C. Penney’s CEO is leaving the company to become the top executive at Lowe’s. The announced departure of Marvin Ellison on Tuesday sent shares of the besieged department store tumbling more than 12 percent to what may become an all-time low. Shares of Lowe’s Cos., which...


Business

Intel finds another chip exploit, says fix already in place

(c) 2018, Bloomberg. Intel Corp., the biggest maker of computer processors, said it found another way to attack computers related to the chip security flaws announced earlier this year. The means to protect against the vulnerability is already in place and there is no evidence of it having been...


Business

Trump retreats from China tariffs amid White House trade discord

(c) 2018, Bloomberg. President Donald Trump retreated from imposing tariffs on billions of dollars worth of Chinese goods because of White House discord over trade strategy and concern about harming negotiations with North Korea, according to people briefed on the administration’s deliberations....


Business

EU hunts for formula to avert deeper US trade conflict

(c) 2018, Bloomberg. The European Union scrambled to come up with a strategy to avoid U.S. tariffs on foreign steel and aluminum, signaling a readiness to accept American import quotas and to slash some EU duties in return for a permanent waiver. With an EU exemption from the metal levies due to...


Business

China's latest move on trade is a massive cut to car tariffs

(c) 2018, Bloomberg. China will cut the import duty on passenger cars to 15 percent, further opening up a market that’s been a chief target of the U.S. in its trade fight with the world’s second-largest economy. The Finance Ministry said Tuesday the levy will be lowered effective July 1 from the...


Business

Sears looks like the next company with head-scratching CDS trade

(c) 2018, Bloomberg. For the past two years, credit-derivatives traders have been betting almost certain odds that Sears Holdings Corp. will default on its debt. Now, those wagers are being turned upside down by a complex proposal from the retailer’s biggest shareholder. Eddie Lampert’s ESL...


Business

Sony buys most of EMI Music, to spend $9B on image sensors

Japan Sony

TOKYO (AP) — Electronics and entertainment company Sony Corp. said Tuesday it plans to spend $2.3 billion acquiring an additional 60 percent stake in EMI Music Publishing, home to the Motown catalog and contemporary artists like Kanye West, Alicia Keys and Pharrell Williams. Sony already owns 30...


Business

APNewsBreak: McDonald's workers file sex harassment claims

McDonalds Sexual Harassment

NEW YORK (AP) — Energized by the #MeToo movement, two national advocacy groups are teaming up to lodge sexual harassment complaints against McDonald’s on behalf of 10 women who have worked at the fast food restaurant in nine cities. The workers — one of them a 15-year-old from St. Louis — alleged...


Business

Women cite 'grass ceiling' in male-dominated weed industry

Women and Weed

JUNEAU, Alaska (AP) — When Danielle Schumacher attended her first convention of marijuana activists about 15 years ago, she could count on one hand all the women in a room of older men. The lack of diversity struck the then-college student, who remembers feeling out of place but also determined to...


Government

US clings to health coverage gains despite political drama

Uninsured

WASHINGTON (AP) — The U.S. clung to its health insurance gains last year, an unexpected outcome after President Donald Trump’s repeated tries to take apart the Obama-era coverage expansion, according to a major government survey released Tuesday. Overall, the survey from the Centers for Disease...


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