Escalation in Trump tariffs looms over US-China trade talks
WASHINGTON (AP) — The two countries are sparring over U.S. allegations that China steals technology and pressures American companies into handing over trade secrets — part of an aggressive campaign to turn Chinese companies into world leaders in robotics, electric cars and other advanced industries. U.S. officials are insisting that any deal be strictly enforced so that China lives up to its promises — something they say Beijing has repeatedly failed to do in the past.
Stocks end lower ahead of US-China trade war deadline
NEW YORK (AP) — Stocks closed broadly lower on Wall Street Thursday, extending the market’s slide into a fourth straight day, as investors braced for a possible escalation in the trade war between the U.S. and China. Tensions between the world’s two largest economies dragged down stocks ahead of a Friday deadline when the United States said it would impose more tariffs on Chinese goods. The worries about trade this week have halted what has been the hottest start to a year for U.S. stocks in decades.
Uber shifts into lower gear, prices IPO at $45 per share
SAN FRANCISCO (AP) — Uber is about to embark on a wild ride on Wall Street with the biggest and most hotly debated IPO in years. The world’s leading ride-hailing service set the stage for its long-awaited arrival on the stock market by pricing its initial public offering at $45 per share Thursday. The price is at the lower end of Uber’s targeted range, but still leaves the company with a market value of $82 billion.
Juul’s ‘switch’ campaign for smokers draws new scrutiny
WASHINGTON (AP) — E-cigarette giant Juul is pushing into television with a multimillion-dollar campaign touting its vaping device as an alternative for middle-age smokers. And that’s raising concerns among health activists and others. Juul e-cigarettes have not been approved by the Food and Drug Administration as a means of helping smokers quit. Anti-smoking groups say Juul is making unproven claims for its product, and they want the FDA to crack down.
Trump calls on Congress to end ‘ surprise medical bills’
WASHINGTON (AP) — President Donald Trump is calling on Congress to end “surprise medical bills.” Those are the steep charges insured patients face when a member of the health care team that treated them is an out-of-network provider. Trump laid out his policy at a White House event on Thursday where he was joined by patients. Key lawmakers of both parties were already working on legislation. Trump says he wants it finished quickly.
Trump deficits projected to be worse than promised
WASHINGTON (AP) — A nonpartisan analysis says President Trump’s budget plan would produce significantly larger budget deficits than promised, mostly because its estimates of economic growth are too rosy. The Congressional Budget Office estimate says Trump’s budget would produce deficits that would be $2.7 trillion greater over the coming decade than promised by the White House budget office. Trump’s budget predicts economic growth averaging 2.9% over the decade, but CBO estimates growth averaging 1.8%.
Schick owner buys Harry’s in new shaving war alliance
NEW YORK (AP) — Harry’s, the upstart shaving company, is being acquired by the owner of Schick razors for $1.37 billion. Harry’s has bedeviled brands like Schick and Gillette for years using innovative subscription plans and sleek packaging. Under the agreement announced Thursday, investors in Harry’s will own about 11% of Edgewell Personal Care Co., which manages Schick and other brands. Harry’s has captured about 2.6% of the $2.8 billion men’s shaving industry since its founding in 2013.
Descendants ensure Chinese rail workers aren’t forgotten
OGDEN, Utah (AP) — Descendants of Chinese laborers are among thousands gathering in Utah for the 150th anniversary of the Transcontinental Railroad. Speeches, ceremonies and a photo reenactment near the site of the 1869 hammering of the final golden spike are among the planned celebratory events. But for Chinese Americans, the milestone year has been an opportunity to remind people of their ancestors’ role in one of the country’s greatest engineering feats.
Co-Founder Chris Hughes: Time to break up Facebook
Facebook co-founder Chris Hughes says the company has become a monopoly and should be separated into multiple companies. He says future acquisitions should be banned for several years. Facebook says accountability can be achieved not with a breakup but through new rules for the internet.
Parents can’t delete what kids tell Amazon voice assistant
Consumer advocates say a kids’ version of Amazon’s Alexa won’t forget what children tell it, even after parents try to delete the conversations. Amazon met with skepticism from some privacy advocates and members of Congress last year when it introduced its first kid-oriented voice assistant and an Echo Dot speaker designed for children. Now, those advocates say they have found privacy flaws and are asking the Federal Trade Commission to investigate.