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Stocks post broad gains...Trump charitable foundation to dissolve...Britain prepares for no-deal Brexit

December 18, 2018

NEW YORK (AP) — U.S. stocks are broadly higher, putting at least a temporary halt to the steep market losses that circled the globe in prior days. Asian markets sank sharply earlier in the day and European markets continued to slip. The Dow Jones Industrial Average was up about 300 points in early afternoon trading after falling 1,004 points over the past two days.

NEW YORK (AP) — President Donald Trump’s charitable foundation has reached a deal to dissolve amid a legal battle with New York’s attorney general. Attorney General Barbara Underwood and the foundation filed a joint stipulation with the court today laying out a process for shutting down the charity and distributing its remaining assets to other nonprofit groups. New York filed a lawsuit last spring accusing the foundation of operating like an extension of Trump’s businesses and political campaign. That suit will continue.

LONDON (AP) — The British government has decided to ramp up preparations for a “no-deal” Brexit, saying it must be ready for the possibility of that default option. Brexit Secretary Steve Barclay says that while the government remains committed to Prime Minister Theresa May’s deal, it needs to be ready in the event it does not come to pass. The country’s defense secretary says around 3,500 troops will be on standby in support of the government to help deal with any disruptions in the event of a “no-deal” Brexit.

UNDATED (AP) — Shares of Tilray are surging after the medical cannabis company announced that one of its subsidiaries struck a collaboration agreement with pharmaceutical company Sandoz AG. Under the deal, Tilray Canada Ltd. and Sandoz’s Canadian arm plan to jointly operate in jurisdictions where cannabis is or will be approved for medical purposes.

ATLANTA (AP) — Some advertisers say they are leaving conservative host Tucker Carlson’s show following his remarks referring to immigrants as “the world’s poor.” It’s the latest example of sponsors leaving a Fox News Channel show after controversy, but experts say the flap is likely to blow over. So far, the biggest advertisers are sticking with him and his prime-time show, “Tucker Carlson Tonight.”