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Financial News

 

 

 

Stocks turn higher…NAACP lifts advisory against American…Tariffs could hurt newspapers

 

NEW YORK (AP) – After a weak start, U.S. stock indexes have turned higher. Retailers and smaller companies gained, and investors applauded strong second-quarter results from health care products giant Johnson & Johnson and financial services company Charles Schwab.

 

WASHINGTON (AP) – The NAACP is lifting its travel advisory against American Airlines, saying improvements are being made to address worries about African-Americans being subject to discrimination or unsafe conditions while flying. NAACP President Derrick Johnson made the announcement at the NAACP’s national convention in San Antonio, Texas. The advisory was issued in October, after incidents including an NAACP official and another civil rights activist being kicked off American flights.

 

WASHINGTON (AP) – Members of Congress are warning that newspapers in their home states are in danger of cutting coverage or going out of business if the United States maintains recently imposed tariffs on Canadian newsprint. The Trump administration ordered the tariffs in response to a complaint from a paper producer in Washington state. It argues that Canadian competitors take advantage of government subsidies to sell their product at unfairly low prices.

 

BATON ROUGE, La. (AP) – Louisiana no longer has the highest average sales tax rate in the nation, but only barely. Tennessee has narrowly edged out Louisiana for the top spot with an average state and local combined sales tax rate of 9.46 percent. That’s according to the latest data available from the nonpartisan, conservative Tax Foundation, which shows Louisiana falls a hair behind at 9.45 percent.

 

MANDEVILLE, La. (AP) – A chain of Mexican restaurants has been ordered to pay $654,000 in back wages to employees in Louisiana and Florida. The U.S. Department of Labor says 567 employees from 23 El Paso Mexican Grill restaurants will receive the pay to resolve violations of the Fair Labor Standards Act.

 

 

AP-WF-07-17-18 1803GMT