NEW YORK (AP) — Stocks are lower in early trading on Wall Street, putting the market on track for a second day of losses. The drop has been modest but broad: All 10 sectors of the Standard & Poor’s 500 headed lower. Material companies are among the biggest decliners. Alcoa’s stock dropped 6 percent following news that analysts at Bank of America cut their ratings on the aluminum giant.
WASHINGTON (AP) — A private survey finds U.S. businesses added more than 200,000 jobs in February for the 13th straight month. Payroll processor ADP says companies added 212,000 jobs last month. That’s a solid gain, though down from 250,000 in the previous month. January’s figure was revised up from 213,000. Unlike the government jobs report coming out Friday, the ADP numbers cover only private businesses, not government agencies.
DETROIT (AP) — Toyota has announced some sweeping management changes. North American CEO Jim Lentz will head Toyota’s North American manufacturing operations when the changes take place April 1. Toyota also promoted North American communications chief Julie Hamp to chief communications officer for the entire company, becoming Toyota’s first female managing officer. Chris Reynolds will be a managing officer and chief legal officer for the whole company, the first African-American to hold those positions.
NEW YORK (AP) — McDonald’s says it plans to start using chicken raised without antibiotics important to human medicine, and milk from cows that are not treated with the artificial growth hormone rbST. The company says the chicken change will take place within the next two years and the milk change will take place later this year. The fast-food giant is struggling to shake its junk food image amid intensifying competition from smaller rivals positioning themselves as more wholesome alternatives.
WASHINGTON (AP) — The Supreme Court says Alabama should have the chance to justify a fuel sales tax that it assesses on railroads but not on competitors in the trucking and barge industries. The justices today ruled 7-2 against CSX Transportation Inc., which had challenged the state’s assessment of a 4 percent sales tax whenever the company purchased diesel fuel. The railroad company argued that the tax was illegal under a federal law barring taxes that discriminate against railroads.
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