NEW YORK (AP) — Stocks were mixed to slightly lower in afternoon trading, as traders regrouped after the market’s big gains the prior week.
The S&P 500 fell 0.1%. The Dow Jones Industrial Average was down 0.6%, dragged lower by Boeing and UnitedHealth Group. The Nasdaq Composite was up 0.7%, lifted by big technology companies like Microsoft and Apple.
The big economic data point this week will be Friday’s jobs report. Economists are expecting that U.S. employers created 685,000 jobs in June, an improvement from the 559,000 jobs created in May. The unemployment rate is expected to fall to 5.6%.
Health chief says Britain on track to lift restrictions
LONDON (AP) — Britain’s new health secretary says he is confident that England is on track to remove the country’s remaining coronavirus restrictions on July 19.
Sajid Javid stressed that the rapid vaccination rollout is “breaking the link” between soaring infection numbers and serious illnesses and deaths. Javid told Parliament that all the figures he’s seen suggested that the country is “heading in the right direction,” and said that “the restrictions on our freedoms must come to an end.”
His confident tone came despite widespread concerns about a third surge in infections in the U.K. driven by the spread of the more contagious delta variant. Government figures on Monday showed another big spike in infections, with 22,868 confirmed cases. That’s the highest daily figure since late January.
Pandemic-era Mobile World Congress tech fair kicks off
BARCELONA (AP) — The Mobile World Congress is kicking off in Barcelona with scaled-back attendance and beefed-up health and safety measures.
Mobile World is a major wireless technology trade fair that was cancelled at the last minute last year because of COVID-19 concerns. This year it’s one of the few big trade shows to attempt a comeback amid the ongoing pandemic. Organizers expect 25,000 to 30,000 people to attend in person, a fraction of the more than 100,000 visitors in recent years.
Companies like Ericsson, Nokia, Intel, Sony and Qualcomm are staying away while South Korea’s Samsung, the world’s biggest mobile phone maker, is only holding a virtual device launch.
Juul to pay $40M in N. Carolina teen vaping suit settlement
DURHAM, N.C. (AP) — Electronic cigarette giant Juul Labs Inc. will pay $40 million to North Carolina and take more action to prevent underage use and sales. That’s according to a landmark legal settlement announced on Monday after years of accusations that the company had fueled an explosion in teen vaping.
North Carolina Attorney General Josh Stein had accused Juul of unfair and deceptive marketing practices targeting young people to use it vaping products, which delivers addictive nicotine.
Juul promises not to advertise to anyone under 21 in North Carolina and says it will put restrictions in place for sales both online and at brick-and-mortal retailers.
AUTO WORKERS-NEW PRESIDENT
UAW leaders pick Secretary-Treasurer Ray Curry to run union
DETROIT (AP) — United Auto Workers Secretary-Treasurer Ray Curry has been elected president of the union. The 55-year-old Curry was picked by the union’s International Executive Board on Monday. He will replace Rory Gamble, who retires on Wednesday.
Gamble led the 397,000-member union through a bribery and embezzlement scandal and the coronavirus pandemic, in which the union agreed to keep auto factories running with numerous safety precautions. He was the union’s first Black president, and Curry will be the second.
Curry doesn’t come from the traditional leadership path that begins at one of the Detroit automakers. He joined the UAW in 1992 as an assembler at Freightliner Trucks in Mount Holly, North Carolina, and worked his way up to regional director in the south.
Honda changing course, will build its own electric vehicles
DETROIT (AP) — General Motors is building two electric SUVs for Honda to sell in North America in 2024, but the Japanese automaker plans to manufacture them on its own after that.
Honda says the GM-made vehicles will have Honda bodies, interiors and suspensions and will be unique to the Honda and Acura brands. The company announced Monday that the Honda will be called the Prologue. It plans a series of electric vehicles this decade for North America, with most made at Honda plants.
In April, the company said it plans to phase out all of its gasoline-powered vehicles in North America by 2040.
Burberry chief executive Gobbetti to quit to return to Italy
LONDON (AP) — Luxury fashion brand Burberry is on the lookout for a new boss after revealing that chief executive Marco Gobbetti is quitting his job at the end of the year. The company said Monday that Gobbetti will leave the U.K.-based retailer after five years at the helm to take up a new, unspecified role in Italy to be closer to his family.
Gobbetti had replaced Christopher Bailey in 2017. Gobbetti sought to get more Burberry products to be sold at higher prices and rely less on discounts and sales during his tenure. He also strove to improve Burberry’s marketing and to focus more on wealthy young people.