Stocks mostly higher…Boeing profits rise…US airlines meet Chinese demand
NEW YORK (AP) – Stocks have been mostly higher in afternoon trading, with the technology sector accounting for most of the market’s gains. Homebuilders slumped on government data showing sales of new U.S. homes fell in June.
UNDATED (AP) – The strong air-travel business continues to give a lift to Boeing, as the aircraft maker reports that second-quarter profit rose 26 percent to $2.2 billion. Boeing raised its forecast for full-year revenue but left its profit outlook unchanged, reflecting continuing hitches in its program to build a new refueling tanker for the U.S. Air Force.
JOHANNESBURG, South Africa (AP) – Chinese President Xi Jinping (shee jihn-peeng) says the world faces “a choice between cooperation and confrontation” in remarks that criticized escalating U.S. tariffs on goods from China and other major trading partners. At an economic summit in South Africa, Xi said those who pursue “economic hegemony” will “only end up hurting themselves.”
BEIJING (AP) – China is applauding U.S. airlines for bending to its demand that they stop referring to Taiwan as an independent country on their websites. American Airlines, Delta and United are among a wave of international carriers that are removing references to Taiwan on their websites ahead of a deadline set by China. Many airlines now simply list Taiwan’s capital, Taipei, as a destination.
PITTSBURGH (AP) – Uber has taken the first step toward relaunching its self-driving cars on Pittsburgh-area streets four months after a fatal accident involving one of the cars in Arizona. A spokeswoman said the company put a handful of vehicles back on the road yesterday, with some safety modifications to the cars and driver training. But for now, the cars won’t be free of human control or respond to ride-hailing calls.