Progress reported in contract talks between GM, union
DETROIT (AP) — Contract talks between the United Auto Workers and General Motors showed some signs of progress as a strike by more than 49,000 employees extended into a second day. One of the main sticking points is health care. GM is looking to cut its costs, but workers say they shouldn’t have to pay more because the company is making billions in profits.
WeWork delays its IPO amid tepid investor interest
NEW YORK (AP) — WeWork’s parent company has delayed its much-heralded stock market debut as it struggles to drum up investor enthusiasm for a fast-growing but money-losing enterprise. The We Company dropped plans to begin a so-called road show this week to market its shares but said Tuesday that it still expects to launch its IPO by the end of the year.
EPA set to end California’s ability to regulate fuel economy
WASHINGTON (AP) — The Trump administration is poised to revoke California’s authority to set auto mileage standards, asserting that only the federal government has the power to regulate greenhouse gas emissions and fuel economy. Conservative and free-market groups have been invited to attend a formal announcement of the rollback set for Wednesday afternoon at the Environmental Protection Agency headquarters in Washington.
‘Blood money’? Purdue settlement would rely on opioid sales
Some of the money in Purdue Pharma’s proposed multibillion-dollar opioid settlement would come from the continued sale of opioids. And that sounds like “blood money” to some critics of the deal. That’s one reason nearly half the states have said they don’t intend to sign on to the settlement. Parents who have lost loved ones to addiction are also upset about the possibility of creating “more accidental addicts.”
Researchers: AI surveillance is expanding worldwide
A research group says a growing number of countries are following China’s lead in deploying artificial intelligence to track citizens. The Carnegie Endowment for International Peace released a report Tuesday that found at least 75 countries are actively using AI tools such as facial recognition for surveillance. The group says Chinese tech companies led by Huawei are supplying much of the AI surveillance to countries around the world, but so are U.S. companies such as IBM.
Facebook to train AI systems using police video
NEW YORK (AP) — Facebook will work with law enforcement organizations to train its artificial intelligence systems to recognize videos of violent events as part of a broader effort to crack down on extremism. Facebook’s AI systems were unable to detect live-streamed video of a mass shooting at a mosque in Christchurch, New Zealand.
US stock indexes edge up as oil gives up half of its spurt
NEW YORK (AP) — U.S. stock indexes ticked closer to record heights on Tuesday, but the modest moves belied plenty of churning underneath. Oil and energy stocks slumped to give back nearly half of their huge gains from a day earlier. Rising prices for tech stocks and companies that sell to consumers, though, countered those losses and powered indexes higher. Treasury yields fell a second straight day as the Federal Reserve opened a two-day meeting on interest rates.
US factory production rose at healthy pace in August
WASHINGTON (AP) — U.S. factory output increased in August at a solid clip, reversing a sharp drop in July, as production of metals, machinery and chemicals all rose. The Federal Reserve says manufacturing production climbed 0.5% last month, after a 0.4% drop in July.
Facebook to name first oversight panel members by year-end
BOSTON (AP) — Facebook says it expects to name the first members of a quasi-independent oversight board by year-end. The board will rule on thorny content issues, such as when a Facebook or Instagram post constitutes hate speech. The panel will be able to make binding rulings on whether posts or ads violate the company’s standards.
High drama at UK Supreme Court in Brexit challenge case
LONDON (AP) — A high-stakes legal drama over Brexit is playing out at Britain’s Supreme Court. The case pits the powers of elected lawmakers against those of Prime Minister Boris Johnson’s government in a struggle to control Britain’s impending departure from the European Union. One side is urging the court to rule that Johnson illegally suspended Parliament just weeks before the country is to leave the 28-nation bloc, while the government insists the suspension is a political matter.
Eurotunnel tests new ‘digital border’ for Brexit
LONDON (AP) — Eurotunnel has held a round of tests to prepare for a possible no-deal Brexit on Oct. 31, checking that a new “digital border” between France and Britain would work seamlessly and keep traffic flowing in the event of new controls. Eurotunnel ran freight trucks between Folkestone, in Britain, and Coquelles in France to test the new 15 million-euro ($16.6 million) infrastructure that features bar codes for customs declarations.
The S&P 500 rose 7.74 points, or 0.3%, to 3,005.70. The Dow Jones Industrial Average rose 33.98, or 0.1%, to 27,110.80, and the Nasdaq composite gained 32.47, or 0.4%, to 8,186.02. The Russell 2000 index of smaller-company stocks slipped 6.31 points, or 0.4%, to 1578.29.