Business Highlights

Business Highlights

With 401(k) accounts booming, what should investors do?

NEW YORK (AP) — Stocks are at records, and markets are unbelievably calm. That makes it easy to feel comfortable leaving your 401(k) accounts on autopilot. But now is a good time to make sure that stocks have not become an overly large portion of your portfolio. And don’t let the quiet times fool you. Wild swings are part of the market too.

How realistic are plans to ban new gas and diesel cars?

FRANKFURT, Germany (AP) — Phase out all gas and diesel powered cars. It’s a call that is being heard more and more, and not just from environmentalists but from elected officials in major economies. Scandals and crises have propelled desires to phase out polluting traditional engines. But the political ambition to get rid of these engines runs into hurdles in the real world.

FedEx, in online pivot, backs away from holiday surcharges

MEMPHIS, Tenn. (AP) — FedEx will forego special charges for most packages shipped during the chaotic holiday season this year as it squares off against rival UPS in a fight for a larger share of the millions of items now bought online. The announcement Thursday comes two months after UPS announced new surcharges that will affect shipments near Black Friday and the holidays.

Union, feds at odds on countering surge in coal mine deaths

LOUISVILLE, Ky. (AP) — Deaths in U.S. coal mines this year have surged ahead of last year’s, and federal safety officials say workers who are new to a mine have been especially vulnerable to fatal accidents. But the nation’s coal miner’s union says the mine safety agency isn’t taking the right approach to fixing the problem.

Nissan workers in Mississippi vote on whether to unionize

CANTON, Miss. (AP) — Voting has started in Mississippi among 3,700 Nissan Motor Co. workers to decide whether to be represented by the United Auto Workers union. The ballots are being cast after intense lobbying by supporters and opponents that took on the trappings of a broader electoral campaign. The union has never been able to fully organize a foreign-owned carmaker in the southern United States, but the Japanese carmaker works with unionized employees around the world.

Hacker who helped stop global cyberattack arrested in US

LAS VEGAS (AP) — Marcus Hutchins, a young British researcher credited with having derailed a global cyberattack in May, has been arrested for allegedly creating and distributing malicious software designed to collect banking passwords. Authorities say Hutchins was detained in Las Vegas on his way back to Britain from Def Con, an annual gathering of hackers and IT security gurus in Las Vegas.

US stocks slip, with bigger losses for smaller companies

NEW YORK (AP) — US stocks are taking modest losses, with energy companies, banks and technology companies all down. Smaller companies are taking outsize losses for the second day in a row. Cereal maker Kellogg and electric car maker Tesla advance following strong quarterly results.

Avon CEO McCoy will leave the company

LONDON (AP) — Avon’s CEO will leave the company March as the struggling beauty products maker continues a turnaround campaign. The company said Thursday that it had hired an executive search firm to help find a successor.

AP Exclusive: Paying pot taxes means cash, the freeway, fear

LOS ANGELES (AP) — Paying taxes in California can come with a lot of risk — if you’re a medical marijuana dispensary. Even though medical pot is legal in the state — and recreational use will be on Jan. 1 — most banks refuse accounts from the pot business. That’s because they don’t want anything to do with money linked to a plant that remains illegal under federal law. Pot store owners pay a price to be legal: They often nervously carry around tens of thousands of dollars in cash to pay taxes.

Grubhub to buy Eat24 from Yelp

NEW YORK (AP) — Grubhub plans to gobble up another online food-ordering rival: This time it’s Yelp Inc.‘s Eat24. Chicago-based Grubhub Inc. is paying Yelp $287.5 million for Eat24. That’s more than double what Yelp, based in San Francisco, paid to acquire Eat24 two years ago.

The Standard & Poor’s 500 index shed 5.41 points, or 0.2 percent, to 2,472.16. The Dow Jones industrial average notched its eighth gain in a row and added 9.86 points, or less than 0.1 percent, to 22,026.10. The Nasdaq composite lost 22.30 points, or 0.4 percent, to 6,340.34.

Benchmark U.S. crude dipped 56 cents, or 1.1 percent, to $49.03 a barrel in New York. Brent crude, the international standard, fell 35 cents to $52.01 a barrel in London. In other energy trading, wholesale gasoline lost 1 cent to $1.63 a gallon. Heating oil fell 2 cents to $1.64 a gallon. Natural gas slipped 1 cent to $2.80 per 1,000 cubic feet.

First Published August 3, 2017 12:00 AM

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