Stocks higher … Interest rate hike coming? … Daimler ordered to issue recall
NEW YORK (AP) – Stocks are modestly higher in afternoon trading. After a contentious weekend with allies on trade, traders are keeping an eye on preparations for President Trump’s summit with North Korean leader Kim Jong Un in Singapore.
WASHINGTON (AP) – Another interest rate increase is all but certain when the Federal Reserve meets this week. What’s not so sure is whether the vigorous U.S. economy will lead the Fed to accelerate its rate hikes in the months ahead – a move that could raise the risk of a recession. When it last met in May, the Fed left its short-term rate unchanged. The challenge would be to do so without slowing growth so much as to cause a downturn.
FRANKFURT, Germany (AP) – Germany’s transport minister says the government is ordering automaker Daimler to immediately recall 238,000 vehicles equipped with software that turns off emissions controls under certain conditions. Minister Andreas Scheuer made the statement today after a meeting with Daimler’s CEO. The affected vehicles include the Mercedes-Benz Vito delivery van and the Mercedes GLC 220d and C220d. Europe-wide some 774,000 vehicles are affected.
NEW YORK (AP) – Your ability to watch and use your favorite apps and services could start to change – though not right away – following today’s official repeal of Obama-era internet protections. The repeal of “net neutrality” takes effect six months after the Federal Communications Commission voted to undo the rules. They had barred broadband and cellphone companies from slowing down or blocking sites of their choosing or charging more for higher speeds.
NEW YORK (AP) – An 80-story office building set to open at the World Trade Center will be the third completed skyscraper at the site where the twin towers stood. Today’s ribbon-cutting for the 1,079-foot 3 World Trade Center marks a major step in the rebuilding of the site. The new $2.7 billion building, designed by Pritzker Prize-winning architect Richard Rogers, is the fifth-tallest building in New York City. Its 62-foot lobby faces the National Sept. 11 Museum. It consists of an 80-story tower straddling a 17-story “podium.”