AP NEWS
Click to copy
Click to copy

Business Highlights

June 24, 2019

___

What’s your data worth to Big Tech? Bill would compel answer

WASHINGTON (AP) — As Congress bears down on big tech companies, two senators are proposing to force giants like Google, Facebook and Amazon to tell users what data they’re collecting from them and how much it’s worth. The proposed legislation was floated Monday by Sens. Mark Warner, D-Va., and Josh Hawley, R-Mo. It comes as bipartisan support grows in Congress for a privacy law that could sharply rein in the ability of the biggest tech companies to collect and make money from users’ personal data.

___

High rollers: Eldorado buys Caesars in deal valued at $17B

Eldorado Resorts is buying Caesars in a cash-and-stock deal valued at $17.3 billion including debt, creating a casino giant. The deal Monday puts about 60 casinos and resorts in 16 states under the name Caesars.

___

High court strikes down ‘scandalous’ part of trademark law

WASHINGTON (AP) — The Supreme Court has struck down a section of federal law that prevented officials from registering “scandalous” or “immoral” trademarks, handing a victory to a Los Angeles-based fashion brand spelled F-U-C-T. The high court announced its decision Monday.

___

US stock indexes finish mixed ahead of trade talks

The U.S. stock market capped a day of listless trading with modest losses Monday as investors focused on upcoming trade talks between the U.S. and China. The major stock indexes drifted between small gains and losses for much of the day. Smaller company stocks had their worst day since May. The losses erased some of the market’s solid gains from last week. Bond yields fell.

___

Trump signs order imposing sanctions on Iran supreme leader

WASHINGTON (AP) — President Donald Trump has signed an executive order targeting Iran’s supreme leader and his associates with financial sanctions. It’s the latest action the U.S. has taken to discourage Tehran from developing nuclear weapons and supporting militant groups.

___

GPS, special maps and the wild: Tech helps searchers zero in

HONOLULU (AP) — Technology is making it easier to find missing people in the wild by zeroing in on the best places for searchers to go. Volunteers looking for a hiker lost in a Hawaii forest last month gathered GPS data of the ground they covered. Organizers then put it on a specialized digital map so the team could see what areas had been searched and what still needed to be checked. The system has grown in popularity, with teams from Oregon to North Carolina starting to use it for large-scale searches.

___

Justices side with business, government in information fight

WASHINGTON (AP) — The Supreme Court is siding with businesses and the U.S. government in a ruling about the public’s access to information. The high court ruled Monday against a South Dakota newspaper that was seeking information about the government’s food assistance program, previously known as food stamps.

___

Supreme Court to review insurers’ Obamacare claims for $12B

WASHINGTON (AP) — The Supreme Court will decide whether insurance companies can collect $12 billion from the federal government to cover their losses in the early years of the health care law championed by President Barack Obama. The justices say Monday that they will hear appeals from the insurers who argue that they are entitled to the money under a provision of the “Obamacare” health law.

___

Tariffs weighing on manufacturers’ optimism, survey shows

NEW YORK (AP) — Manufacturers see the Trump administration’s trade policies as a bigger challenge than the economy. That’s one of the findings of a quarterly survey by the National Association of Manufacturers, or NAM, released last week. Fifty-six percent of the 689 manufacturing companies questioned in the survey cited trade issues including tariffs as one of their greatest challenges. Just over 31% said the economy was one of their greatest challenges.

___

Trump order aims to disclose ‘real’ costs for health care

WASHINGTON (AP) — President Donald Trump signed an executive order Monday that calls for upfront disclosure by hospitals of actual prices for common tests and procedures to keep costs down. The idea is to give patients practical information that they can use to help save money. For example, if a hospital charges your insurer $3,500 for a type of echocardiogram and the same test costs $550 in a doctor’s office, you might go for the lower-price procedure to save on copays.

___

The S&P 500 index slipped 5.11 points, or 0.2%, to 2,945.35. The Dow Jones Industrial Average rose 8.41 points, or less than 0.1%, to 26,727.54. The Nasdaq composite dropped 26.01 points, or 0.3%, to 8,005.70. The Russell 2000 index of smaller companies slid 19.54 points, or 1.3%, to 1,530.08.

All contents © copyright 2019 The Associated Press. All rights reserved.