Ivanka’s biz prospers as politics mixes with business
SHANGHAI (AP) — As Ivanka Trump crafts a political career from her West Wing office, her merchandise brand is thriving, despite boycotts and limits imposed by several stores. The brand’s U.S. imports, almost all of them from China, surged by an estimated 166 percent last year. Ethics experts say commercial ties involving the Trump White House are unprecedented in modern U.S. politics.
Wells Fargo scandal weighs heavily on other big banks
DALLAS (AP) — It’s the topic the banking industry can’t avoid, even when people don’t want to mention it by name: Wells Fargo. Banking executives and consultants spent a recent conference talking about “cross selling” and “incentive compensation.” Those are code words for Wells Fargo and the 2 million accounts that its employees opened without permission from customers. Above all, the other banks want to avoid becoming engulfed in the same kind of scandal.
Facebook CEO wants to augment your reality
SAN JOSE, Calif. (AP) — Facebook CEO Mark Zuckerberg kicked off a gathering of programmers and other tech folks by talking about augmented reality tools he envisions on Facebook. Facebook wants you to be able to sit in your bedroom wearing a headset and take a virtual vacation with faraway friends and family. Or use your smartphone’s camera to spruce up your dinky apartment, at least virtually.
Trump targets visa program he says hurts American workers
KENOSHA, Wis. (AP) — Turning back to the economic populism that helped drive his election campaign, President Donald Trump signed an order Tuesday he said should help American workers whose jobs are threatened by skilled immigrants.
AP Explains: Behind the visa program targeted by Trump
NEW YORK (AP) — President Donald Trump is targeting a visa program cherished by tech companies for bringing in programmers and other specialized workers from other countries. Although these visas, known as H-1B, aren’t supposed to displace American workers, critics say the program mostly benefits consulting firms that let tech companies save money by contracting out their jobs to foreign workers.
Viewership of ‘O’Reilly Factor’ drops without Bill O’Reilly
NEW YORK (AP) — Through three days of Bill O’Reilly’s vacation, his Fox News Channel show declined an average of 26 percent in the hands of three substitutes. His show has seen an advertising boycott in the wake of a report about settlements paid to quiet harassment allegations against the cable news star. O’Reilly has denied the allegations.
Yahoo bows out as public company with revenue shrinking
SUNNYVALE, Calif. (AP) — Yahoo is bowing out as a public company with its revenue still declining, a chronic problem that culminated in its sale to Verizon Communications. Despite the revenue downturn, Yahoo fared better during the first quarter than analysts had anticipated — a low bar that was another sign of how far the internet pioneer has fallen. The results released Tuesday will mark the final quarterly report of Yahoo’s 21-year history as a publicly traded company unless the Verizon deal unexpectedly falls apart.
Ex Microsoft CEO Steve Ballmer offers facts on government
NEW YORK (AP) — Former Microsoft CEO Steve Ballmer has created a new organization to analyze government spending and revenue to make it easier to understand. Ballmer says he decided to create USAFacts because he was frustrated he couldn’t find a single source that combined all the relevant combined state and federal numbers.
Johnson & Johnson, Goldman sneeze and stocks catch a cold
NEW YORK (AP) — US stocks fall, with health care and bank stocks down the most after poor first-quarter results from Johnson & Johnson and Goldman Sachs. Investors looked for safe picks after the British government called for early elections next month. The British pound rose sharply. U.S. government bond yields fell, sending high-dividend stocks higher.
The Standard & Poor’s 500 index shed 6.82 points, or 0.3 percent, to 2,342.19. The Dow Jones industrial average lost 113.64 points, or 0.6 percent, to 20,523.28. The Nasdaq composite fell 7.32 points, or 0.1 percent, to 5,849.47.
U.S. crude oil futures lost 24 cents to $52.41 a barrel in New York. Brent crude, used to price international oils, lost 47 cents to $54.89 per barrel in London. Wholesale gasoline fell 1 cent to $1.71 a gallon and heating oil dipped 1 cent to $1.62 a gallon. Natural gas lost 2 cents to $3.15 per 1,000 cubic feet.
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