Financial News

Thursday, July 19th
July 18, 2018
AP-NC Newswatch
July 18, 2018
Financial News

 

 

 

Stocks mixed…EU fines Google a record $5 billion…Housing starts plummet…Ford issues recall

 

NEW YORK (AP) – Stock indexes are mixed in early trading on Wall Street, with the Dow slightly higher and the S&P 500 and Nasdaq slightly lower. Energy companies are falling with the price of oil. Industrial companies including railroads and airlines are climbing after a round of strong second-quarter reports.

 

BRUSSELS (AP) – The European Union’s antitrust chief has fined Google a record $5 billion for abusing the market dominance of its Android mobile phone operating system. She says Google violated EU rules when it required mobile phone producers to pre-install the Google Search and browser apps as a condition for licensing Google’s app store. She also says Google paid big producers to exclusively pre-install the Google Search app.

 

WASHINGTON (AP) – U.S. homebuilders sharply curtailed the pace of construction in June. The Commerce Department says housing starts fell 12.3 percent last month to a seasonally adjusted annual rate of 1.17 million. Housing starts plunged 35.8 percent in the Midwest and declined less severely in the Northeast, South and West.

 

DETROIT (AP) – Ford is recalling about 550,000 cars and SUVs in North America to fix a gearshift problem that could cause the vehicles to roll away unexpectedly. The recall covers certain 2013 through 2016 Fusion sedans and some 2013 and 2014 Escape small SUVs. Ford says a bushing that attaches the shifter cable to the transmission can fall off. If this happens, the driver could shift into park but the vehicle could be in another gear.

 

DETROIT (AP) – Marriott International says it’s removing plastic straws and drink stirrers from all of its 6,500 hotels and resorts worldwide by next year. The world’s largest hotel company says the move will eliminate approximately 1 billion straws and 250 million stirrers by July 2019. Marriott says the year-long timeframe will let hotels deplete their existing supplies and identify alternatives to plastic straws.

 

 

AP-WF-07-18-18 1436GMT