Financial News

Jerry Lee Craven
July 13, 2018
AP-NC Newswatch
July 13, 2018
Financial News

 

 

 

Stocks edge higher…FDA warns of fake gov’t warning letters…Nissan issues air bag recall

 

NEW YORK (AP) – Stocks are edging higher in early Wall Street trading. AT&T stock is falling after the Department of Justice asked a court to overturn its purchase of Time Warner. Industrial companies and retailers are higher, and stocks are still on track for their second consecutive week of solid gains following a modest losing streak.

 

WASHINGTON (AP) – U.S. health authorities are alerting consumers to a new scam involving fake government warning letters sent to people who tried to buy medicines online or over the phone. The Food and Drug Administration says the fake letters may be part of an extortion scam. However, authorities have not yet documented cases of consumers being coerced to turn over money. The forged letters claim to be from the FDA or the Federal Trade Commission, but those agencies almost never issue such warnings to private individuals.

 

DETROIT (AP) – Nissan is recalling nearly 105,000 small cars to replace Takata passenger air bag inflators that can explode and hurl shrapnel at drivers and passengers. Included are the 2011 Versa sedan and the 2011 and 2012 Versa hatchback. It only applies to cars that have been registered in 42 states and Washington, D.C., as part of a coordinated phase-in of Takata recalls.

 

WASHINGTON (AP) – An agency watchdog says the government wasted at least $341,000 on travel by ousted Health and Human Services Secretary Tom Price, including on charter flights without considering cheaper scheduled airlines. The HHS inspector general’s office released its long-awaited report today. The inspector general estimated taxpayers spent a total of nearly $1.2 million on Price’s travel during his seven months in office. Price previously apologized, and repaid nearly $60,000.

 

NEW YORK (AP) – Papa John’s plans to pull its founder’s image from marketing materials following reports he used a racial slur. A person inside the company with knowledge of the decision says the decision to remove John Schnatter (SHNAH’-tur) as the marketing face of Papa John’s was made by top executives and the details and exact timing are still being worked out. Schnatter had apologized and said he would resign as chairman after Forbes reported that he used the N-word during a media training session.

 

 

AP-WF-07-13-18 1501GMT