WeWork CEO stepping aside amid questions about company
NEW YORK (AP) — WeWork's charismatic but controversial CEO is stepping aside from the communal office-space company he founded, another moment of reckoning between the fast-growing startup and its disenchanted investors. The New York-based company said Tuesday that Adam Neumann will be replaced by two co-CEOs: Artie Minson, formerly co-president and chief financial officer, and Sebastian Gunningham, formerly vice chairman. Neumann will remain on its board as non-executive chairman.
Google wins case over EU's 'right to be forgotten' rules
BRUSSELS (AP) — The European Union's highest court has handed Google a major victory. It says that the EU's "right to be forgotten" rules that allow people to control what comes up when their name is searched online do not apply outside the 28-nation bloc. People in Europe have had the right to ask Google and other search engines to delete links to outdated or embarrassing information about themselves, even if it is true.
US home prices rise at slowest pace in 7 years
WASHINGTON (AP) — U.S. home prices rose in July from a year earlier by the smallest amount in seven years, as modest sales are forcing sellers to keep costs in check. The S&P CoreLogic Case-Shiller 20-city home price index moved up 2% in July from a year ago, down from a 2.2% annual gain in June.
Volkswagen bosses charged in Germany over emissions scandal
BERLIN (AP) — German prosecutors have dealt a blow to Volkswagen's efforts to put the 2015 emissions-cheating case behind it. They have charged the automaker's chief executive, chairman and former CEO with stock manipulation for not telling investors at the time that the scandal was about to break. The charges come as VW pushes ahead with its shift toward zero-emissions vehicles and a new, more environmentally friendly image.
Feds: Engineer manipulated diesel emissions at Fiat Chrysler
DETROIT (AP) — An engineer has been charged with conspiracy and fraud in an alleged scheme to fool regulators about engine pollution from more than 100,000 Fiat Chrysler diesel vehicles. Emanuele Palma is due in a Detroit federal court Tuesday on a raft of charges. Palma, who was a manager until June 2016 at an engine company owned by Fiat Chrysler, is accused of manipulating emissions during government tests to make it appear that engines were producing less pollution than they were.
World postal union rejects Trump's favored reform plan
GENEVA (AP) — In a showdown at a Universal Postal Union meeting, countries rejected the Trump administration's favored approach to an international mail problem that is making the U.S. consider leaving the 145-year-old body. Trump trade envoy Peter Navarro appealed at an emergency meeting to urge other countries to support Washington's reform push. But delegates voted to reject the option 78-57 with nine abstentions. The U.S. says countries like China are not paying enough to send packages to the U.S.
Stocks fall as Democrats turn up heat on Trump
NEW YORK (AP) — Stocks dropped on Wall Street Tuesday as House Democrats met to consider a potential impeachment probe of President Donald Trump and a report showed a drop in consumer confidence. After a higher open, stocks declined as the Conference Board, a business research group, reported its consumer confidence index fell to 125.1 in September from a revised reading of 134.2 in August. That's worrisome because consumer spending has underpinned the economy during a slowdown in manufacturing.
US consumer confidence drops as economic uncertainties rise
WASHINGTON (AP) — Consumer confidence fell sharply in September, a likely indication that growing economic uncertainties are taking a toll on American households. The Conference Board, a business research group, says its consumer confidence index fell to 125.1 in September from a revised August reading of 134.2. Consumers' assessments of both current economic conditions and expectations for the next six months slipped.
Top UK court: Johnson's suspension of Parliament was illegal
LONDON (AP) — In a decision that badly undermines Boris Johnson's authority, Britain's Supreme Court has ruled unanimously that he broke the law by suspending Parliament. The court blamed Johnson for squelching legitimate scrutiny of his Brexit plan. The historic move by Britain's highest court offered a ringing endorsement of Parliament's sovereignty and slapped down what it viewed as Johnson's attempt to use executive power to silence the legislature.
Investigator says FAA training inspectors weren't qualified
A federal investigator says safety inspectors who set pilot-training standards for the grounded Boeing Max weren't qualified, and the FAA misled Congress about the matter. But the Federal Aviation Administration isn't backing down; it says all inspectors who worked on evaluating the Max were fully qualified for the work they did.
The S&P 500 index fell 25.18 points, or 0.8%, to 2,966.60. The Dow slid 142.22 points, or 0.5%, to 26,807.77. The Nasdaq lost 118.84 points, or 1.5%, to 7,993.63. The Russell 2000 index of smaller-company stocks gave up 24.64 points, or 1.6%, to 1,533.61.