Republicans Lack Votes — and Appetite — to End ‘Obamacare’
Top Republicans are showing no appetite to refight the battle to repeal former President Barack Obama’s prized health care law amid its growing popularity and easing premium increases. Arizona’s new Republican senator says he’d vote to repeal “Obamacare,” but GOP leaders still lack the votes to succeed despite years of trying to demolish it. No. 2 Senate GOP leader John Cornyn says he’s “not going to be asking for another vote on that this year.”
Tesla Cuts Number of Stock Colors to Streamline Production
Tesla is dropping two of the seven colors it had offered to customers as it tries to streamline production. In a tweet early Tuesday, CEO Elon Musk said obsidian black and metallic silver will still be available, but at a higher cost. Tesla fans can still get solid black and “midnight silver metallic,” as well as pearl white, deep blue metallic and red.
What’s in the Amazon Box? Maybe a Real 7-Foot Christmas Tree
Amazon plans to sell and ship fresh, full-size Christmas trees this year. It says the trees, including Douglas firs and Norfolk Island pines, will be bound and shipped without water, within 10 days of being cut. But Tim O’Connor, executive director of the National Christmas Tree Association, said picking out trees and hauling them home is part of the fun. Only 1 to 2 percent of nearly 30 million real Christmas trees purchased each year are bought online.
CBS Exec’s Downfall Shows the Power — and Limits — of #MeToo
Is Les Moonves’ departure from CBS a breakthrough for the #MeToo movement? While he is the most powerful CEO brought down yet by sexual misconduct allegations over the past year, CBS is facing criticism for not pushing him out sooner, for thanking him in its announcement and for offering him a potential $120 million in severance. Others say his downfall still serves as warning that even the most powerful bosses cannot hide.
China Puts off Licenses for US Companies Amid Tariff Battle
An official of a U.S. business group says Chinese regulators are putting off accepting license applications from American companies in financial services and other industries until the two sides resolve a worsening tariff dispute. The disclosure is the first confirmation of fears among U.S. companies that the battle over Beijing’s technology policy might disrupt access to China. The Trump administration is poised to decide on whether to impose new tariff hikes on $200 billion of Chinese goods.
Report: Chinese Building Projects Narrowing Economic Gaps
A new report says Chinese-financed railways and other projects in Africa and Asia are helping to reduce economic inequality between regions in the countries where they’re built. The study by a multinational group of researchers strikes a positive note amid unease among other governments about Beijing’s “Belt and Road” initiative to build roads, ports and other facilities across Asia.
As Job Openings Reach Unprecedented Levels, so Does Quitting
U.S. employers advertised the most jobs on record in July, and the proportion of workers quitting their jobs also hit a new all-time high. More Americans are taking advantage of the tight labor market to find new, usually higher-paying jobs. The Labor Department says the number of job openings rose 1.7 percent to 6.9 million, the most on records that date back to late 2000.
Apple Expected to Unveil Bigger, Pricier iPhone on Wednesday
Apple is expected to unveil its biggest and most expensive iPhone on Wednesday as part of a lineup of three new models aimed at widening the product’s appeal amid slowing sales growth. Most of the buzz leading into a company event in California is swirling around a rumored iPhone that is supposed to boast a 6.5-inch OLED screen. If the speculation pans out, that display will be a significant step up from Apple’s current marquee product, the iPhone X, which features a 5.8-inch screen.
Technology and Energy Companies Help Send Us Stocks Higher
U.S. stocks rise as technology and consumer-focused companies recover more of their losses from last week, while home improvement retailers and gas prices climb as Hurricane Florence moves closer to the East Coast.
The S&P 500 index rose 10.76 points, or 0.4 percent, to 2,887.89. The Dow Jones Industrial Average gained 113.99 points, or 0.4 percent, to 25,971.06. The Nasdaq composite added 48.31 points, or 0.6 percent, to 7,972.47. The Russell 2000 index of smaller and more U.S.-focused companies inched up 0.94 of a point, or 0.1 percent, to 1,718.40.
Benchmark U.S. crude jumped 2.5 percent to $69.25 per barrel in New York. Brent crude, used to price international oils, climbed 2.2 percent to $79.06 a barrel in London. Wholesale gasoline rose 2.8 percent to $2.01 a gallon. Heating oil gained 1.5 percent to $2.25 a gallon. Natural gas added 0.9 percent to $2.83 per 1,000 cubic feet.
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