Stocks recover some losses…Pompeo accuses Canada of ‘larceny’…Apple offers 911 boost
NEW YORK (AP) – Stocks are mostly lower, although they’ve pared some early losses as energy companies and smaller companies post gains. Household goods makers and health care companies are seeing the biggest losses, with Johnson & Johnson down 1.3 percent and Colgate-Palmolive off 2.2 percent. Lingering worries over trade tensions between the U.S. and China pushed international indexes lower. Germany’s DAX dropped 1.4 percent.
DETROIT (AP) – Secretary of State Mike Pompeo says China is engaging in “predatory economics 101” and an “unprecedented level of larceny” of intellectual property. Pompeo made the remarks at the Detroit Economic Club, as global markets reacted to trade tensions between the U.S. and China. Both started putting trade tariffs in motion that are set to take effect from July 6.
CAPE CANAVERAL, Fla. (AP) – President Donald Trump is signing a new space policy directive that aims to reduce satellite clutter in space. The policy calls for providing a safe and secure environment in orbit, as satellite traffic increases. Trump also says the United States’ space program had been bogged down by politics and rising costs.
SAN FRANCISCO (AP) – Apple is trying to drag the U.S.’s antiquated system for handling 911 calls into the 21st century. Apple is promising that the next iPhone operating system will come out in September and will automatically deliver quicker and more reliable information pinpointing the location of 911 calls to about 6,300 emergency response centers in the U.S.
NEW YORK (AP) – Rent-A-Center is being sold to a private equity firm for more than $800 million. The chain, which leases household goods on a rent-to-own basis, got a second offer from Vintage Capital Management for $15 per share, a 25 percent premium to the company’s closing price on Friday, and a dollar more per-share than Vintage bid the previous week. The Plano, Texas company says it’s accepted the second bid. The sale to Vintage is expected to close by the end of 2018.