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Business Highlights

Business Highlights

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Apple drives Dow above 22,000 even as other stocks struggle

NEW YORK (AP) — The Dow Jones industrial average closes above 22,000 points for the first time, driven by a big gain in Apple. Other stocks mostly slip. Movie theater companies, studios, and streaming video services sank after AMC Entertainment gave a weak forecast and said it will cut costs. Weak forecasts from Cardinal Health pulled health care companies down.

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Workplace accident death rate higher for older workers

Aging experts say the natural process of getting older can lead to physical changes that could make a workplace injury more serious or potentially fatal. But they caution that not all people age the same way and employers shouldn't stereotype. Their comments come in response to an Associated Press analysis that shows older people are dying on the job at a higher rate than workers overall, even as the rate of workplace fatalities decreases.

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Hundreds show up for jobs at Amazon warehouses in US cities

FALL RIVER, Mass. (AP) — Hundreds of people are showing up Wednesday for a chance to pack and ship products to Amazon customers, as the e-commerce company holds a giant job fair at nearly a dozen U.S. warehouses. The Wednesday hiring spree is a sign of Amazon's growth at a time when traditional retailers are closing stores and cutting jobs. Nearly 40,000 of the 50,000 packing, sorting and shipping jobs will be full time.

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HBO plays down threat of hacked internal emails

NEW YORK (AP) — HBO, which acknowledged Monday that hackers had broken into its systems and stolen "proprietary information," now says the attackers likely haven't breached the network's entire email system. HBO CEO Richard Plepler told employees by email that the company does not think its "email system as a whole" has been compromised.

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Trump backs GOP plan to push legal immigration changes

WASHINGTON (AP) — President Donald Trump is embracing Republican legislation that would place new limits on legal immigration and seek a system based on merit and job skills instead of family ties. Trump joined with Republican Sens. David Perdue of Georgia and Tom Cotton of Arkansas to promote the plan at the White House. The bill faces major hurdles in the Senate, but the president says the bill, if enacted, could represent "the most significant reform to our immigration system in half a century."

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Nissan workers in Mississippi vote on whether to unionize

CANTON, Miss. (AP) — After an intense campaign, some 3,700 direct employees at the Nissan Motor Company's car and truck assembly plant in Mississippi must decide whether they want a union. Voting opens before dawn Thursday. The United Auto Workers has never fully unionized a carmaker in the southern United States, but nearly every other Nissan plant worldwide has unions.

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Fox hit with new charges to its credibility

NEW YORK (AP) — After a rough year, things had settled down for Fox — until the filing of a lawsuit that alleges it worked with the Trump administration on a story. The charges speak to a news organization's credibility in how it works with newsmakers and sources.

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Tesla's 2Q loss widens, but results beat forecasts

DETROIT (AP) — Tesla Inc. reported Wednesday that its net loss widened in the second quarter as the electric car maker opened new stores and prepared for the bumpy launch of its new lower-cost Model 3 sedan. The loss grew 15 percent to $336 million from a loss of $293 million in the April-June quarter a year ago. But Tesla's adjusted loss, of $1.33 per share, handily beat Wall Street's forecast of a $1.88 loss per share, according to analysts polled by FactSet.

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Qatar Airways dropping plan to invest in American Airlines

DALLAS (AP) — Qatar Airways says it's dropping its plan to buy shares of American Airlines. The Qatar CEO had said he wanted to own about 10 percent of American, but the CEO of American Airlines didn't welcome the investment.

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Wells Fargo faces lawsuits, angry lawmakers over car lending

NEW YORK (AP) — Wells Fargo is now facing at least three lawsuits from customers who say they were hurt by the bank's latest scandal. The bank admitted last week that roughly 570,000 customers were signed up for car insurance that they did not need. Many couldn't afford both the car payment and the extra insurance, which made them fall behind in payments. At least in 20,000 cases, cars were repossessed. Politicians are also angry with Wells, with Democrats calling for a Congressional investigation.

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The Dow average rose 52.32 points, or 0.2 percent, to 22,016.24. The Standard & Poor's 500 index added 1.22 points, or less than 0.1 percent, to 2,477.57. The Nasdaq composite inched down 0.29 of a point to 6,362.65.

Benchmark U.S. crude added 43 cents to close at $49.59 a barrel in New York. Brent crude, the international standard, picked up 58 cents to close at $52.36 a barrel in London. In other energy trading, wholesale gasoline fell 2 cents to $1.64 a gallon, heating oil rose 2 cents to $1.66 a gallon and natural gas held steady at $2.81 per 1,000 cubic feet.


Updated : 2021-07-24 18:31 GMT+08:00