Business Highlights – ABC News



States led by Texas target Google in new antitrust probe

WASHINGTON (AP) — Fifty U.S. states and territories, led by Texas, announced an investigation into whether Google has gotten too big and effective at stomping or acquiring rivals. The announcement comes just days after a separate group of states disclosed an investigation into Facebook’s market dominance.


UK’s Johnson to suspend Parliament as his Brexit plans stall

LONDON (AP) — British lawmakers demanded Prime Minister Boris Johnson’s government release officials’ correspondence about plans for Brexit, as the government prepared to suspend Parliament and send rebellious lawmakers home until two weeks before the country is supposed to leave the EU. Lawmakers used the hours before the suspension to deliver new blows to Johnson’s teetering authority.


Elliott invests $3.2B in AT&T, seeks changes

NEW YORK (AP) — Activist hedge fund manager Elliott Management is making a new $3.2B investment in AT&T and says the company could be valued at more than $60 a share by 2021’s end. Elliott wants changes at AT&T, including the possible divestment of DirecTV.


Volkswagen bets big on electric. Will consumers buy in?

FRANKFURT, Germany (AP) — A rising wave of new all-electric car models is about to hit the European auto market, the result of billions of euros worth of investment in battery technology and new factories. But it’s not at all clear if consumers will want to buy them.


Juul warned over claims e-cigarette safer than smoking

WASHINGTON (AP) — Federal health authorities say vaping giant Juul Labs illegally promoted its electronic cigarettes as a safer option to smoking. The Food and Drug Administration issued a stern warning letter to the company Monday, flagging various claims by Juul, including that its products are “much safer than cigarettes.” The FDA has been investigating Juul for months but had not previously warned the company.


How much do Trump tweets swing the market? Check “Volfefe”

NEW YORK (AP) — Financial markets have become so in thrall to President Donald Trump’s tweets that J.P. Morgan has created an index to help identify how much volatility they’re creating. Strategists at the bank say they created the “Volfefe” index by measuring which of Trump’s tweets triggered big movements in yields for Treasurys, one of the most widely followed markets in the world. They say the index shows Trump’s tweets explain a “measureable fraction” of volatility in the market for shorter-term rates.


Looking to hire 30,000, Amazon plans nationwide job fairs

NEW YORK (AP) — Amazon is going on a hiring spree. The online shopping giant is holding job fairs across the country next week, aiming to hire more than 30,000 people by early next year. The jobs range from highly-paid software engineers to warehouse workers who make at least $15 an hour to pack and ship online orders. The job fairs will take place Sept. 17 in six U.S. cities: Arlington, Virginia; Boston; Chicago; Dallas, Texas; Nashville, Tennessee; and Seattle.


Broken Columbia River barge lock means commerce chokehold

PORTLAND, Ore. (AP) — A critical boat lock on the Bonneville Dam in the Columbia River is shut down for repairs, meaning barges that transport millions of tons of wheat, wood and other goods from the inland Pacific Northwest to Pacific Ocean export terminals can’t move. A crack in the concrete sill of the lock was discovered late last week but the U.S. Army Corps of Engineers has no firm date for the completion of repairs. The closure comes during wheat harvest and could be devastating for farmers who ship to Asia.


Uber adding 2,000 jobs in Chicago, mostly in Freight unit

CHICAGO (AP) — Uber plans to open a new office in Chicago and add 2,000 people to its workforce in the area over the next three years. The office will officially house the company’s freight business and a related engineering hub. Uber Freight already has a significant presence in the city. The company has about 1,300 workers there, some with the ride-hailing unit but most working on Freight.


S&P 500 finishes flat; smaller company stocks notch gains

NEW YORK (AP) — Major U.S. stock indexes ended mixed as large companies gave up early gains and smaller companies closed broadly higher. The S&P 500 index ended virtually flat as losses in technology and health care stocks outweighed gains in banks and other sectors. The Russell 2000 index of smaller company stocks, which has lagged the S&P 500 this year, outpaced the rest of the market. Investors hope smaller-company stocks will be better shielded from the U.S.-China trade war than large multinationals.


The S&P 500 inched 0.28 points lower, or less than 0.1%, to 2,978.43. The Dow Jones Industrial Average rose 38.05 points, or 0.1%, to 26,835.51. The Nasdaq fell 15.64 points, or 0.2%, to 8,087.44. The Russell 2000 of smaller-company stocks climbed 19.06 points, or 1.3%, to 1,524.23.

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