Business Highlights

___

Starbucks to train workers on 'unconscious bias,' CEO says

PHILADELPHIA (AP) — Starbucks wants to add training for store managers on "unconscious bias," CEO Kevin Johnson said Monday, as activists held more protests at a Philadelphia store where two black men were arrested when employees said they were trespassing. Johnson, who has called the arrests "reprehensible," arrived in Philadelphia this weekend after video of the arrests gained traction online. He said he hopes to meet with the two men in the next couple of days and apologize to them face-to-face.

———

Trump says tax law, US economy helping Hispanics

HIALEAH, Fla. (AP) — President Donald Trump says the Republican tax law and his push to slash regulations are driving one of the "greatest booms" to the U.S. economy and helping Hispanic workers. Trump is praising the strength of the economy at a business round-table in a predominantly Latino Miami suburb. He is telling the audience the country is "starting to really rock" with businesses coming back to the country and corporations facing fewer regulations.

———

Question of sales tax on online purchases goes to high court

WASHINGTON (AP) — A case before the Supreme Court could change the longstanding rule that businesses shipping merchandise to a state where it doesn't have a physical presence doesn't have to collect the state's sales tax. That's been a big plus for online shoppers and many of the merchants who do business on the internet. The case scheduled for a hearing Tuesday comes as more than 40 states ask the high court to reconsider the rule, saying they're losing out on billions of dollars in tax revenue each year.

———

Trump puts forward 2 more nominees for Fed board

WASHINGTON (AP) — President Donald Trump has selected Columbia University professor Richard Clarida to be vice chairman of the Federal Reserve and Kansas bank commissioner Michelle Bowman to fill another vacancy on the Fed's seven-member board. The two nominations are the latest steps in Trump's efforts to remake the seven-member Fed board, which currently has four vacancies.

———

US bars China's telecom giant ZTE from buying US components

WASHINGTON (AP) — The U.S. Commerce Department is blocking Chinese telecommunications giant ZTE Corp. from importing American components for seven years, accusing the company of misleading U.S. regulators after it settled charges of violating sanctions against North Korea and Iran. ZTE agreed in March 2017 to plead guilty and pay $1.19 billion for illegally shipping telecommunications equipment to North Korea and Iran.

———

Allegiant Air under fire after '60 Minutes' safety report

LAS VEGAS (AP) — Allegiant Air is under fire following a new investigation that raises serious safety concerns about the discount airline. The CBS program '60 Minutes' says data from federal regulators shows that Allegiant planes are about three and a half times more likely to have a midair breakdown than flights on American, United, Delta, JetBlue or Spirit. Shares of Allegiant's parent are falling in midday trading.

———

Icahn's company strikes approximately $1.85B Tropicana deal

ATLANTIC CITY, N.J. (AP) — Carl Icahn's company strikes approximately $1.85B deal that includes merging the gaming and hotel operations of Tropicana Entertainment into Eldorado Resorts. The transaction also includes the sale of Tropicana's real estate to Gaming and Leisure Properties

———

Chinese exporters scramble to cope with Trump tariff hike

BEIJING (AP) — Chinese exporters of goods from electronics to motorcycle parts are scrambling to insulate themselves from President Donald Trump's proposed tariff hike. They are weighing plans to rush shipments to American customers ahead of the increase, raise prices or find other markets. Some are looking at shipping goods through other countries to hide their Chinese origin.

———

Shares in ad giant WPP fall amid breakup speculation

LONDON (AP) — Shares in WPP, the world's biggest advertising company, have fallen as much as 5.6 percent amid speculation it will be broken up after the resignation of CEO Martin Sorrell. Sorrell, who built WPP into a conglomerate during his 33 years at the helm, stepped down after an investigation into allegations he misused company assets.

———

Tech, health care stocks are big gainers as US indexes rally

NEW YORK (AP) — Investors shrugged off geopolitical jitters, sending U.S. stocks broadly higher, extending the market's gains from last week. Technology companies, health care stocks and industrial firms accounted for much of the rally as traders focused on the latest company earnings and deal news. Oil prices fell after surging last week ahead of the U.S.-led missile attack on Syria's chemical weapons program.

———

The S&P 500 index rose 21.54 points, or 0.8 percent, to 2,677.84. The Dow Jones industrial average gained 212.90 points, or 0.9 percent, to 24,573.04. The Nasdaq added 49.63 points, or 0.7 percent, to 7,156.28. The Russell 2000 index of smaller-company stocks picked up 13.52 points, or 0.9 percent, to 1,563.03.

Benchmark U.S. crude declined $1.17, or 1.7 percent, to settle at $66.22 per barrel on the New York Mercantile Exchange. Brent crude, which is used to price international oils, slid $1.16, or 1.6 percent, to close at $71.42 per barrel. Heating oil dropped 3 cents to $2.07 a gallon, while wholesale gasoline slid 3 cents to $2.04 a gallon. Natural gas rose 2 cents to $2.75 per 1,000 cubic feet.

Comments