Financial News

Friday, May 11th
May 11, 2018
AP-NC Newswatch
May 11, 2018
Financial News

 

 

 

Stocks edge higher…Facebook rebounds…Bathrooms for everyone

 

NEW YORK (AP) – The major stock indexes are edging higher in early trading as gains in health care companies and banks outweighed losses elsewhere. Technology stocks and utilities lagged behind. Crude oil prices headed lower.

 

NEW YORK (AP) – Facebook is back. Shares in the social media giant are trading around $185, returning to the levels last seen eight weeks ago, when news broke that the company failed to prevent major privacy breaches during the run-up to the 2016 presidential election in the U.S.

 

WASHINGTON (AP) – The U.S. Postal Service is reporting another quarterly loss. That’s because strong gains in package deliveries were outweighed by an unrelenting decline in mail volume and the costs of its health care and pension obligations. The financial report comes amid sharp criticism from President Donald Trump, who says the Postal Service is being scammed out of billions by Amazon and other online retailers.

 

WASHINGTON (AP) – Starbucks is opening its bathrooms to everyone regardless of whether they’ve bought anything following the arrest last month of two African American men at one of its coffee shops in Philadelphia. Chairman Howard Schultz says he doesn’t want the company to become a public bathroom, but feels employees can make the “right decision a hundred percent of the time,” if that choice is removed at the store level.

 

INDEPENDENCE, Mo. (AP) – Applebee’s is suing a Kansas City area franchise owner over the closure of a restaurant where two black women said they were falsely accused of not paying for meals in an earlier visit. The Kansas City Star reports that the chain claimed “significant brand and reputational damage” from the “controversial and high-profile circumstances of the closure” of the restaurant at the Independence Center Mall.

 

 

AP-WF-05-11-18 1441GMT