S&P near record high … Continuous Brexit talks … Pratt & Whitney whistleblower
NEW YORK (AP) – The S&P 500 is flirting with another all-time high. The benchmark index of large U.S. companies has been trading just above the latest closing high of 2,872 it set seven months ago. The market took a steep plunge immediately after that, in early February, and has been clawing higher since then thanks to a still-recovering economy and a boom in corporate profits.
WASHINGTON (AP) – The Treasury Department is going after two companies and two Russians suspected of trying to circumvent U.S. sanctions imposed in June in response to cyberattacks and other malicious activities run by Moscow’s military and spy services. The June sanctions were a response to cyberattacks as well as intrusions into the U.S. energy grid and global network infrastructure. Treasury officials said then that Russia also had been tracking undersea cables that carry the bulk of the world’s telecommunications data.
LONDON (AP) – The European Union and Britain say they will accelerate Brexit negotiations with continuous talks in an effort to seal an agreement before the end of the year. EU chief Brexit negotiator Michel Barnier says work will focus on how to keep goods, services and people flowing over the border between Northern Ireland in the U.K. and EU member Ireland, and a political declaration on future EU-U.K. ties.
EAST HARTFORD, Conn. (AP) – A former engineer for jet engine maker Pratt & Whitney has filed a federal false claims lawsuit alleging the company knowingly sold “flawed” engines to the U.S. Air Force, which resulted in the likelihood of premature wear or even “catastrophic failure.” The Journal Inquirer reports that Peter Bonzani Jr. alleges Pratt & Whitney fired him after he brought his concerns to company officials. The engine in question was used in the F-22 Raptor fighter. Pratt & Whitey says in a statement: “There is absolutely no merit to these claims.”
MIAMI (AP) – A group of Herbalife distributors are suing the company for as much as $1 billion. They claim the company duped them with promises they’d get rich selling health and personal care products. The distributors contend they were coerced into attending dozens of Herbalife’s “Circle of Success” events around the country that cost them thousands of dollars.