Energy stocks higher…Trump hails ruling on unions fees…Disney wins antitrust approval
NEW YORK (AP) – The surging price of oil has lifted energy stocks today, but other areas of the market were more subdued and U.S. indexes have been mixed in afternoon trading. Investors are still gauging how worried to be about the prospect of a global trade war. Asian stocks slumped early in the day due to the concerns, only for European stocks to flip from losses to gains on signs that the Trump administration was taking a less combative stance in talks with China.
WASHINGTON (AP) – President Donald Trump is hailing a Supreme Court ruling on union fees, asserting that it amounts to a “Big loss for the coffers of the Democrats!” Trump tweeted shortly after the Supreme Court ruled that government workers can’t be compelled to contribute to labor unions that represent them in collective bargaining. The ruling is considered a significant financial blow to organized labor.
WASHINGTON (AP) – President Donald Trump is warning Harley-Davidson that “We won’t forget” about its decision to shift some motorcycle production overseas. He’s also suggesting the company will lose out to competitors. The president is tweeting that Harley-Davidson, which already has some production in foreign markets, “should stay 100 percent in America.”
WASHINGTON (AP) – Environmental Protection Agency head Scott Pruitt is proposing to yield some of the agency’s veto power over mining and other development. Pruitt says EPA veto power over dumping waste into waterways could “chill economic growth.” Kyla Bennett of the Public Employees for Environmental Responsibility accuses Pruitt of shirking his environmental duty.
NEW YORK (AP) – The Walt Disney Co. has won U.S. antitrust approval for its $71.3 billion bid for Twenty-First Century Fox’s entertainment assets. That sets the clock ticking for the deal to be completed. Disney has 90 days to seal the acquisition, with an option to extend for another 90 days. The Department of Justice says Disney must first sell its 22 regional sports networks.