Business Highlights – ABC News

13


___

YouTube to pay $170M fine after violating kids’ privacy law

WASHINGTON (AP) — Google will pay $170 million to settle allegations its YouTube video service collected personal data on children without their parents’ consent. The company is also agreeing to work with video creators to label material aimed at kids and says it will limit data collection when users view such videos, regardless of their age. Some lawmakers and children’s advocacy groups complain the settlement terms aren’t strong enough.

———

UK Parliament delivers Boris Johnson third defeat in 2 days

LONDON (AP) — Prime Minister Boris Johnson is calling for a national election on Oct. 15, saying it’s the only way out of Britain’s Brexit impasse after opposition lawmakers moved to block his plan to leave the European Union next month without a divorce deal. But Parliament delivered Johnson his third defeat in two days, refusing to vote in sufficient numbers for a motion triggering a vote. Johnson indicated he would try again, saying an election is the only way forward.

———

Democrats propose spending trillions fighting climate change

WASHINGTON (AP) — Five Democratic presidential candidates have released their plans to combat climate change as they prepare for a series of town halls on the issue. Some of the plans reflect relatively minor differences, with spending ranging from under $2 trillion to $3 trillion, while other proposals call for $10 trillion and $16 trillion in spending. In contrast, President Donald Trump has mocked climate science and reversed course on climate policy.

———

Carmakers to add alerts to prevent child heatstroke deaths

DETROIT (AP) — By the 2025 model year, nearly all new vehicles sold in the U.S. will come with electronic alerts to remind people to not leave children behind in the back seats. Twenty automakers representing 98% of new vehicles sold have agreed to install reminders in an effort to stop heatstroke deaths. So far this year 39 children have died in the U.S. after being left alone in cars during hot weather.

———

Huawei accuses US of cyberattacks, coercing employees

BEIJING (AP) — Chinese telecom equipment maker Huawei has accused U.S. authorities of attempting to break into its information systems and of trying to coerce its employees to gather information on the company. Huawei faces mounting American pressure including possible loss of access to U.S. technology over accusations the company is a security risk. The company says Washington has used “unscrupulous means” in recent months to disrupt its business.

———

NTSB: Tesla Autopilot let driver rely too much on automation

DETROIT (AP) — A government investigation has found that a design flaw in Tesla’s Autopilot semi-autonomous driving system and driver inattention combined to cause a Model S electric car to slam into a firetruck parked along a California freeway last year. The National Transportation Safety Board determined that the driver was overly reliant on the system and that Autopilot’s design let him disengage from driving.

———

Judge orders Anheuser-Busch to halt ‘corn syrup’ labels

MILWAUKEE (AP) — Big beer is still duking it out over corn syrup. A federal judge has ordered Anheuser-Busch to stop using Bud Light packaging that implies rival brews made by MillerCoors contain corn syrup. The order extends an injunction issued in May that barred Anheuser-Busch from making those claims in television, billboard and print advertising.

———

Judge rejects attempt to raise bail of ex-Google engineer

SAN JOSE, Calif. (AP) — A federal judge has rejected a government recommendation to that he impose a $10 million bail bond on a former Google engineer. The engineer, Anthony Levandowski, is accused of stealing self-driving car technology before joining Uber’s effort to build robotic taxis. The decision made Wednesday means Levandowski remains free on the $2 million bail he posted last week after being charged with heisting Google’s trade secrets before defecting to Uber 2016.

———

Lagarde defends ECB’s low rates as she prepares to take over

FRANKFURT, Germany (AP) — Incoming European Central Bank head Christine Lagarde is defending the bank’s record low rates and other stimulus measures as she prepares to take over with the economy facing trouble from trade wars and Brexit. During hearings in the European parliament, Lagarde said Wednesday the job requires both a commitment to the basic mandate to keep prices stable as well as the “agility” to come up with new ways to meet unforeseen trouble.

———

Stocks notch gains, erase prior day’s losses for S&P 500

NEW YORK (AP) — Technology companies led stocks broadly higher on Wall Street Wednesday, erasing the S&P 500’s losses from a day earlier. Traders pivoted to riskier holdings as encouraging developments overseas helped alleviate investors’ anxiety over the global economy. Lawmakers in Britain were seeking a less chaotic exit from the European Union and political tensions in Hong Kong eased. Communications services, financial and industrial stocks are also notching solid gains.

———

The S&P 500 gained 31.51 points, or 1.1%, to 2,937.78. The Dow Jones Industrial Average 237.45 points, or 0.9%, to 26,355.47. The Nasdaq climbed 102.72 points, or 1.3%, to 7,976.88. The Russell 2000 index of smaller company stocks picked up 12.47 points, or 0.8%, to 1,484.76.



Source link