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May 24, 2018
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May 24, 2018
Financial News

 

 

 

Stocks trim losses…Trump signs loosening of bank restraints…Facebook won’t compensate users

 

NEW YORK (AP) – Stocks have trimmed their losses from earlier in the day. They fell after President Donald Trump canceled a meeting with North Korean leader Kim Jong Un. Energy companies fell along with oil prices as investors respond to reports the nations of OPEC may start producing more oil.

 

WASHINGTON (AP) – President Donald Trump has signed into law a measure loosening key restraints for banks that came in the wake of the 2008 financial crisis and Great Recession. The Republican-led legislation cleared Congress on Tuesday with the help of some Democrats’ votes and allowed Trump to realize his campaign pledge of dismantling the landmark Dodd-Frank law.

 

BRUSSELS (AP) – Facebook says it will not compensate users in the scandal over the misuse of their personal data by political consultancy Cambridge Analytica. The company made the statement in a list of written replies to questions by European Union lawmakers. The answers were promised after testimony earlier this week by CEO Mark Zuckerberg in Brussels had left EU lawmakers frustrated about a lack of responses.

 

ATLANTA (AP) – Delta Air Lines says it will resume nonstop flights next year between the United States and Mumbai, India. The airline is crediting recent U.S. agreements with Qatar and the United Arab Emirates over alleged subsidies to three big Persian Gulf carriers that also fly to India. Delta said today it will announce schedule details later this year. It also plans to sell other flights within India on partner Jet Airways.

 

NEW YORK (AP) – McDonald’s isn’t ready to stop offering plastic straws, despite environmental concerns. A shareholder proposal to pressure the world’s biggest hamburger chain on the matter was voted down at the company’s annual meeting today. The proposal asked for a report about the “business risks” of using plastic straws at the chain’s 37,000 locations globally.

 

 

AP-WF-05-24-18 1801GMT