Business Highlights – ABC News


Trump heightens China tariff threat with no deal in sight

WASHINGTON (AP) — With President Donald Trump intensifying his rift with U.S. trading partners, economists are growing more doubtful that any deal that might benefit American workers and companies may be in sight. Instead, many analysts say they expect the Trump administration to impose increasingly more tariffs on China, Europe and others key U.S. trading partners.


Japan’s Abe: US auto tariffs will cost US jobs, harm economy

TOKYO (AP) — Japan’s Prime Minister Shinzo Abe has warned the U.S. that higher tariff on auto imports would backfire and harm not only America’s jobs and economy but also devastate the global economy. Abe says Japan’s auto and auto parts industry has never threatened America’s national security and never will. Abe said he will keep explaining that to Trump. The U.S. government is investigating if higher tariffs are justified.


Bayer to stop sales of birth control device tied to injuries

WASHINGTON (AP) — The maker of a permanent birth control implant says it will stop selling the device in the U.S. at the end of the year. German manufacturer Bayer said Friday it decided to discontinue sales of Essure for business reasons. The announcement follows repeated safety restrictions on the device by U.S. health regulators. More than 16,000 U.S. women are suing the company over Essure.


US probes complaints that some Ford Escapes overheat, stall

DETROIT (AP) — Federal safety investigators are looking into complaints that engines on some Ford Escape vehicles can overheat and suddenly stall while being driven. The U.S. National Highway Traffic Safety Administration says in documents posted on its website Friday that it has 40 complaints from consumers about stalling, including two alleging that the engines caught fire.


Facebook suspends Boston analytics firm over data usage

NEW YORK (AP) — Facebook says it has suspended Boston-based analytics firm Crimson Hexagon while it investigates how it collects and shares Facebook and Instagram’s user data. Facebook has been facing increased scrutiny over how third-party firms use its data since news broke in March that data firm Cambridge Analytica improperly accessed user data.


UK PM May and her Brexit vision get little sympathy from EU

LONDON (AP) — Embattled British Prime Minister Theresa May has found little sympathy from the European Union’s 27 other nations in her quest for more flexibility in Brexit talks, as the time to negotiate an amicable divorce between Britain and the EU dwindles down. EU chief Brexit negotiator Michel Barnier listed many potential problems with a recently published British white paper of proposals.


Putin vows to hear ‘all opinions’ in pension controversy

MOSCOW (AP) — Russian President Vladimir Putin appears to be trying to tamp down public distress over a proposal to raise the national retirement age, saying he will listen to “all opinions” on the matter. The lower house of parliament on Thursday passed the first reading of a law to raise the pension age for men to 65, up from 60, and from 55 to 63 for women.


Singapore: Hack of 1.5M patients’ records targeted PM Lee

SINGAPORE (AP) — Officials say a cyberattack on Singapore’s public health system breached records on 1.5 million people and targeted the prime minister, a two-time cancer survivor. The attack on SingHealth data involved people who visited outpatient clinics from May 2015 to July 4, when the attack occurred. But the attackers specifically and repeatedly targeted Prime Minister Lee Hsien Loong’s information. Lee says he thinks the hackers would have been disappointed.


Stocks slip, dollar drops as traders shrug off trade talk

NEW YORK (AP) — U.S. stocks inched lower Friday as bond yields jumped, a shift that helped banks but hurt companies that pay big dividends. The dollar fell after President Donald Trump said China is manipulating its currency. Companies including Microsoft and Honeywell rose as investors were pleased with their quarterly reports, but General Electric stumbled. Stocks wobbled all week as investors reacted to solid company results as well as heightened trade tensions. The S&P 500 index was virtually flat for the week while the Russell 2000 index, which is made up of smaller companies do more business inside the U.S., rose 0.6 percent.


The S&P 500 index dipped 2.66 points, or 0.1 percent, to 2,801.83. The Dow Jones Industrial Average lost 6.38 points to 25,058.12. The Nasdaq composite gave up 5.10 points, or 0.1 percent, to 7,820.20. The Russell 2000 index of smaller-company stocks fell 4.50 points, or 0.3 percent, to 1,696.81.

Benchmark U.S. crude added 1.4 percent to $70.46 a barrel in New York and Brent crude, used to price international oils, gained 0.7 percent to $73.07 a barrel in London. Wholesale gasoline rose 1.2 percent to $2.07 a gallon. Heating oil edged up 0.7 percent to $2.10 a gallon. Natural gas lost 0.4 percent to $2.76 per 1,000 cubic feet.

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