Business Highlights



20.08.2018 16:26

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US firms to Trump: Don't raise tariffs on more Chinese goods

WASHINGTON (AP) — Fishermen off the Alaskan coast. A Florida maker of boat trailers. A building materials distributor in Tennessee. Those and hundreds of other American businesses are delivering the same plea to President Donald Trump as he considers imposing tariffs on nearly 40 percent of Chinese imports that he hasn't already taxed: Don't do it.


Greeks see little cause for joy as 8-year bailout era ends

ATHENS, Greece (AP) — For all the official pronouncements that Greece's eight-year crisis is ending together with its bailout program Monday, few Greeks see cause for celebration. The economy is once again stirring but one in five Greeks are still unemployed, with few receiving state benefits, underpaid drudgery is the norm in new hirings, the average income has dropped by more than a third, and taxes have rocketed.


Born out of the financial crisis, bull market nears record

NEW YORK (AP) — The bull market in U.S. stocks is about to become the longest in history. If stocks don't drop significantly by the close of trading Wednesday, the bull market that began in March 2009 will have lasted nine years, five months and 13 days. It's a record that few would have predicted when the market struggled to find its footing after a 50 percent plunge during the financial crisis.


Conoco says Venezuela will pay $2 billion arbitration award

CARACAS, Venezuela (AP) — U.S. oil giant ConocoPhillips says it has reached an agreement with Venezuela(asterisk)s state-owned oil company to recover nearly $2 billion it was awarded as part of a decade-old expropriation dispute. Monday's statement from Houston-based Conoco says that PDVSA has agreed to recognize the judgment by an international arbitration panel and will make the first $500 million payment within 90 days and the rest over a period of some four years.


Survey of economists: Some Trump policies could slow growth

WASHINGTON (AP) — A survey of U.S. business economists finds concern about the risks of some of President Donald Trump's economic policies. Many say they worry that his tariffs and higher budget deficits could eventually slow the economy.


A dog's life: fitness trackers help put fat pets on a diet

PRAGUE (AP) — Fitness trackers for pets are becoming more complex and enjoying sales as part of a boom in goods for pets. According to the American Pet Products Association, people will spend $72.1 billion dollars this year on pet products and care. That's up 3.6 percent on the year in an industry that has grown steadily since the mid 90's.


Report: Experts knew Genoa bridge had weakened 20 percent

GENOA, Italy (AP) — Engineering experts determined in February that corrosion of the metal cables supporting the Genoa highway bridge had reduced the bridge's strength by 20 percent. That finding that came months before it collapsed last week, an Italian newsmagazine reported Monday. Despite the findings, Espresso wrote that "neither the ministry, nor the highway company, ever considered it necessary to limit traffic, divert heavy trucks, reduce the roadway from two to one lanes or reduce the speed" of vehicles.


Online socks seller Bombas mixes commerce and charity

NEW YORK (AP) — When David Heath co-founded online socks seller Bombas, his impetus didn't come from trying to make a comfortable sock. It came from realizing that socks were the No. 1 clothing item requested by the homeless. The company, which donates a pair of socks for every pair it sells, just generated its first profit in 2016 and hit nearly $50 million in sales last year. Now, it's mapping out an expansion plan beyond socks.


Retailers, airlines lift US stocks higher, extending gains

NEW YORK (AP) — Retailers and airlines helped lift U.S. stocks broadly higher Monday, extending the market's gains from last week. Consumer-focused companies and industrial stocks grabbed most of the gains. Banks and health care stocks also posted solid gains. Energy companies climbed along with the price of U.S. crude oil. Technology companies lagged the broader market, weighing down the Nasdaq composite index for much of the day.


The S&P 500 rose 6.92 points, or 0.2 percent, to 2,857.05. The Dow Jones Industrial Average climbed 89.37 points, or 0.3 percent, to 25,758.69. The Nasdaq composite recovered from a morning slide, adding 4.68 points, or 0.1 percent, to 7,821.01. The Russell 2000 index of smaller-company stocks also rebounded, picking up 5.75 points, or 0.3 percent, to 1,698.69.

U.S. benchmark crude rose 0.8 percent to settle at $66.43 per barrel in New York. Brent crude, the standard for international oil prices, added 0.5 percent to close at $72.21 per barrel in London. Heating oil rose 0.7 percent to $2.11 a gallon. Wholesale gasoline gained 1.7 percent to $2.02 a gallon. Natural gas fell 0.2 percent to $2.94 per 1,000 cubic feet.


Chron-Business добавил(а) Samiyah Jennings


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