Financial News

Monday, September 2nd Happy Labor Day!
September 3, 2019
AP-NC Newswatch
September 3, 2019
Financial News

 

 

 

 

Stocks open lower…Construction spending posts small gain…UAW targets GM

 

NEW YORK (AP) – Stocks are lower on Wall Street as traders turn pessimistic again about the prospects of the U.S. and China resolving their trade dispute. Chipmakers fell more than the rest of the market in early trading. Those companies do a lot of business in China and stand to lose greatly if the conflict drags on.

 

WASHINGTON (AP) – U.S. construction spending ticked up just 0.1% in July, aided by government spending on schools, sewers and the water supply. The Commerce Department says spending on construction projects in July occurred at a seasonally adjusted annual pace of $1.29 trillion. So far this year, construction spending has tumbled 2.1%, dragged down by a sharp pullback in expenditures for homebuilding.

 

DETROIT (AP) – The United Auto Workers union has picked General Motors as the target company for this year’s contract talks. The move means that GM will be the focus of bargaining and any deal with the company will set the pattern for Ford and Fiat Chrysler. It also means that if the union decides to go on strike, it be against GM. The union’s contracts with GM, Ford and Fiat Chrysler expire at 11:15 p.m. on Sept. 14. Earlier today the union announced that over 96% of its members voted to authorize strikes against the companies.

 

LONDON (AP) – A cross-party group of lawmakers is arguing in a Scottish court that Prime Minister Boris Johnson’s decision to suspend Parliament for part of the period before the Brexit deadline should be overturned. Lawyer Aiden O’Neill accused Johnson of trying to set up an “autocracy” and “one-man rule.” He said the prime minister often does not tell the public the truth. Government lawyers are arguing that the decision to suspend Parliament is not up to the courts. It’s one of three ongoing legal battles against Johnson’s decision to suspend Parliament.

 

HOUSTON (AP) – Police say a man pulled a gun at a Popeyes restaurant in Houston after being told they were out of chicken sandwiches. They say officers were called to the restaurant last night after a group of people tried to order a chicken sandwich. Police say when the manager told them that there were no more sandwiches, one of the men pulled a pistol and demanded one. The group left after being told again that the restaurant was out. Popeyes’ release of a crispy chicken sandwich caused a social media stir over who has the best chicken sandwich, with long lines forming at restaurants and some stores selling out.

 

 

AP-WF-09-03-19 1423GMT