Stocks fall…IMF, World Bank leaders appeal for an end to trade wars…Oracle CEO Mark Hurd dies
NEW YORK (AP) – Stocks are falling in afternoon trading on Wall Street, weighed down by losses in technology and communications companies. Makers of consumer products are bucking the downward trend. Coca-Cola rose after turning in a solid quarterly earnings report. The market is still on track for its second weekly gain after three straight losing weeks. Bond prices rose. The yield on the 10-year Treasury fell to 1.74%.
WASHINGTON (AP) – The leaders of the International Monetary Fund and the World Bank are appealing to their 189 member countries to resolve widening disagreements on trade and other issues. Speaking to finance officials meeting in Washington, they say trade tensions are taking a toll on business confidence and investment, and that disagreements threaten to make the consequences of a global slowdown even worse.
UNDATED (AP) – Oracle CEO Mark Hurd has died. The 62-year-old was on medical leave, and the company did not disclose a cause of death. Hurd led two high-profile Silicon Valley companies – Oracle and computer maker Hewlett-Packard. Hurd joined Oracle as co-president in 2010 a month after leaving HP. He resigned from HP after accusations of sexual harassment by a female contract worker and findings of inaccurate expense reports connected to outings with the contractor.
WASHINGTON (AP) – The National Transportation Safety Board is moving to determine the probable cause of the first fatal crash involving a self-driving vehicle. Elaine Herzberg died in March 2018 when an Uber vehicle struck her as she walked across a darkened street in Tempe, Arizona. A preliminary report by the board said the Uber autonomous driving system spotted Herzberg before hitting her but a system used to automatically apply brakes in potentially dangerous situations had been disabled. Authorities say records show the backup driver was streaming a television show on her phone in the moments before the crash.
UNDATED (AP) – A Google affiliate is using drones to deliver customers’ Walgreens purchases in a test being run in a Virginia town. Wing partnered with Walgreens to perform the tests that began today in Christiansburg. Walgreens customers in the town will be able to order from a list of more than 100 items and get them delivered to their doors by drones. Wing, which is owned by Google parent Alphabet, received federal approval earlier this year to make commercial deliveries by drone. Wing has also launched tests in Australia and Helsinki, Finland.