At the brink: US and China threaten tariffs as fears rise
WASHINGTON (AP) — The world’s two biggest economies stand at the edge of the most perilous trade conflict since World War II. Yet there’s still time to pull back from the brink. Financial markets trembled Wednesday at the prospect of a U.S.-China trade war after Beijing and Washington proposed tariffs on $50 billion worth of each other’s products in a battle over the aggressive tactics China employs to develop its high-tech industries.
Facebook scandal affected more users than thought: up to 87M
Police: YouTube shooter was calm when found sleeping in car
SAN BRUNO, Calif. (AP) — The woman who shot and wounded three people at YouTube headquarters calmly told police who found her sleeping in her car that she was having family problems and had left her home. Authorities say Nasim Aghdam did not mention being angry with YouTube and gave no indication she was a threat to anyone. Later that day, she went to a gun range before walking into a courtyard at YouTube’s campus south of San Francisco. That’s where she fired a handgun several times and then killed herself.
On the Money: Glut of used cars gives buyers more options
DETROIT (AP) — Bargain prices on 2- and 3-year-old vehicles fueled record sales of used cars, trucks and SUVs last year, a trend that is expected to continue because people can save thousands of dollars over buying new. Used car sales hit 39.2 million vehicles in 2017, more than double the number of new automobiles sold, according to the Edmunds.com auto website. About 4 million leased vehicles will return to the market this year, many of them relatively new with most of the technology that’s on new vehicles.
AMC to open Saudi Arabia’s first movie theater
NEW YORK (AP) — AMC says it will open Saudi Arabia’s first movie theater on April 18. Cinema operators are rushing to build theaters in the Gulf kingdom after the Saudi government in December said it would open the country to commercial movie theaters for the first time in more than 35 years. AMC’s first theater will open in Riyadh. It plans to open up to 100 theaters by 2030.
Marijuana not part of North Dakota’s corporate farming ban
BISMARCK, N.D. (AP) — A North Dakota official says the state’s Great Depression-era law banning corporate farming won’t preclude horticulture operations from growing medical marijuana, provided it’s not done on agricultural land. Attorney General Wayne Stenehjem issued the opinion at the request of the state health department. The intent of the corporate farming law is to protect the state’s family farming heritage. But Stenehjem says the marijuana question is a tax law matter that doesn’t fall under farming law.
CVS Health eyes kidney patients for next expansion into care
WOONSOCKET, R.I. (AP) — CVS Health is now planning to treat kidney failure patients as the drugstore operator branches deeper into monitoring and providing care. The company said Wednesday it will offer home dialysis for patients through its Coram business and it is working with another company to develop a new device for that. A spokeswoman declined to name the company or say how much CVS is spending on the venture.
US services firms grew at a slower pace in March
BALTIMORE (AP) — U.S. services firms expanded at a slower clip in March compared to the prior month, largely because the pace of business activity and new orders fell. The Institute for Supply Management says its services index dropped to 58.8 from 59.5 in February. Any reading above 50 points toward growth. The services sector has been expanding for more than eight years.
Stocks surge as market escapes early plunge on trade fears
NEW YORK (AP) — After being spooked by rising trade tensions between the US and China, stocks rallied Wednesday on hopes the two sides will settle their differences. The Dow Jones industrial average recovered from an early 501 point drop to gain 230. Retailers and household goods makers climbed while tech stocks reversed losses. Big industrials such as Boeing and Deere were lower.
The Standard & Poor’s 500 index climbed 30.24 points, or 1.2 percent, to 2,644.69. The Dow Jones industrial average advanced 230.94 points, or 1 percent, to 24,264.30. The Nasdaq composite rose 100.83 points, or 1.5 percent, to 7,042.11. The Russell 2000 index of smaller-company stocks gained 19.51 points, or 1.3 percent, to 1,531.66.
U.S. crude dipped 14 cents to $63.37 a barrel in New York while Brent crude, used to price international oils, fell 10 cents to $68.02 a barrel in London. Wholesale gasoline stayed at $1.98 a gallon. Heating oil lost 2 cents to $1.98 a gallon. Natural gas rose 2 cents to $2.72 per 1,000 cubic feet.
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