Stocks climb…Survey: US companies add 230,000 jobs…NKorea linked to online bank heists
NEW YORK (AP) – Stocks are climbing in morning trading on Wall Street after a survey by payroll processor ADP showed strong hiring by private businesses in September. General Motors jumped after Honda agreed to invest $2.75 billion in its Cruise autonomous vehicle unit. J.C. Penney rose after naming a new CEO. Banks are rising as interest rates move higher. European stocks rose after the Italian government said it will gradually reduce its deficits over the next few years.
WASHINGTON (AP) – A private survey finds that U.S. businesses added a robust 230,000 jobs in September. Payroll processor ADP says last month’s job gain was the most in seven months. It followed 168,000 new jobs in August, a figure that was revised slightly higher. ADP’s report comes a day before the government is scheduled to release jobs data for September.
WASHINGTON (AP) – U.S. security firm FireEye is raising the alarm over a North Korean group it says has stolen hundreds of millions of dollars by infiltrating the computer systems of banks around the world since 2014. It says the group is still operating and poses “an active global threat.” It’s part of a wider pattern of malicious state-backed cyber activity that has led the U.S. to identify North Korea as one of its main online threats.
SAN FRANCISCO (AP) – General Motors and Honda are teaming up on self-driving vehicle technology as big automakers and tech giants race to be first in their development. Honda Motor Co. will invest $2.75 billion in the autonomous vehicle unit run by General Motors, called GM Cruise. The companies say the goal is to develop an autonomous vehicle that can be produced at a high volume for global deployment. The companies will also explore global opportunities for commercial deployment of the Cruise network.
UNDATED (AP) – A new report says more companies are sticking workers with a bigger share of the medical bill before most health insurance kicks in. That means that those who use the health care system are pouring more of their take-home pay into medical bills even though they have coverage. The report by the Kaiser Family Foundation says more companies are making workers pay an annual deductible or increasing the amount they must spend before insurance starts covering most care. Annual deductibles for single coverage have climbed about eight times as fast as wages over the last decade.