Tesla reports record 3Q deliveries, but Model 3 lags
DETROIT (AP) — Tesla Inc. says it delivered a record number of vehicles in the third quarter even though it made fewer of its new Model 3 sedans than anticipated. Tesla delivered 26,150 vehicles in the July-September period, up 4.5 percent from the same quarter a year ago.
FDA acts to encourage generic competition for complex drugs
TRENTON, N.J. (AP) — The U.S. Food and Drug Administration opens a new front in its efforts to reduce high drug prices by increasing competition. It’s focusing on medicines so complex to make that they don’t easily face generic competition. FDA Commissioner Dr. Scott Gottlieb said Monday that complex drugs and drug-device combinations often don’t get generic competition after their patent expires, as happens with pills.
Equifax: 2.5 million more Americans may be affected by hack
NEW YORK (AP) — Credit report company Equifax is now saying an additional 2.5 million Americans may have been affected by a massive security breach, bringing the total possibly impacted to 145.5 million people. Equifax said the company it hired to do an examination of the breach has concluded its investigation and plans to release the results “promptly.”
GM to offer 2 more electric vehicles in next 18 months
DETROIT (AP) — General Motors is promising two new electric vehicles on Chevrolet Bolt underpinnings in the next 1 ½ years and more than 20 electric or hydrogen fuel cell vehicles by 2023. The company also pledges to start producing hydrogen fuel cell vehicles for commercial or military use in 2020 and to convert its entire model lineup to zero-emissions by an unspecified date.
Get Started: Tax plan gets mixed small business reception
Small business groups are split over the Republican-backed tax overhaul plan. It would change the way company owners like sole proprietors and partners are taxed. They’re currently taxed at rates up to 39.6 percent, and for some, at a higher rate than the maximum 35 percent corporations pay. Under the proposal, the tax 25 percent rate on these businesses would still be higher than the proposed corporate rate of 20 percent. Some business advocates are objecting to the continuing disparity.
Former Equifax chairman apologizes for data breach
WASHINGTON (AP) — The former chairman and CEO of Equifax is apologizing for a data breach in which the sensitive information of 140 million Americans was stolen. In prepared congressional testimony, Richard F. Smith said the millions of Americans affected by the data breach are not just numbers in a database, but friends, family, neighbors and members of his church.
Securities regulator says personal info was leaked in breach
NEW YORK (AP) — The Securities and Exchange Commission is now saying that at least two people had their personal information stolen in the breach that happened last year.
Supreme Court term begins with case of workers’ rights
WASHINGTON (AP) — The Supreme Court has opened a high-profile term with a case about employees’ rights that could affect an estimated 25 million workers. Justice Neil Gorsuch, in his first full term on the bench, was silent during an otherwise lively argument in which the justices seemed closely divided.
Catalonia urges mediation with Spain in secession dispute
BARCELONA, Spain (AP) — Catalan separatists called for international mediation with the Spanish government as they pushed ahead Monday with plans to declare unilateral independence this week after a violent police crackdown scarred a disputed independence referendum. The referendum debacle only deepened Spain’s most serious political crisis since democratic rule was restored in 1978. Catalan leader Carles Puigdemont called Monday for Spanish Prime Minister Mariano Rajoy to accept international mediation.
Facebook gives Russia-linked ads to Congress
WASHINGTON (AP) — Facebook has announced it is planning more measures to increase transparency in advertising as the company provides Congress with more than 3,000 ads linked to a Russian ad agency. Joel Kaplan, the company’s vice president of global policy, says the company is planning to hire more than 1,000 people to staff global ad review teams.
The Standard & Poor’s 500 index rose 9.76 points, or 0.4 percent, to 2,529.12. The Dow Jones industrial average advanced 152.51 points, or 0.7 percent, to 22,557.60. The Nasdaq composite gained 20.76 points, or 0.3 percent, to 6,516.72. The Russell 2000 index of smaller-company stocks jumped 18.61 points, or 1.2 percent, to 1,509.47. All four indexes finished at record highs.
Benchmark U.S. crude fell $1.09, or 2.1 percent, to $50.58 a barrel in New York. Brent crude, the standard for international oil prices, shed 67 cents, or 1.2 percent, to $56.12 a barrel in London.
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