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Bank of America 2Q profits boosted by tax law, higher rates

Ken Sweet, Associated Press  |  Posted Jul 16th - 10:21am

Bank of America's second-quarter profits jumped 33 percent from a year earlier, the company said Monday, as like nearly all other big banks, it benefited greatly from the new tax law. The bank also benefited from the recent rise in interest rates, allowing it to charge more for customers to borrow.

The Latest: Kushners sued for allegedly pushing out tenants

The Associated Press  |  Posted Jul 16th - 10:07am

The latest on tenants in a Kushner Cos. building accusing the family firm of harassing them so they would leave (all times local):

Stocks fall as oil prices drag energy companies lower

Marley Jay, Associated Press  |  Posted Jul 16th - 10:01am

U.S. stocks are mostly lower Monday as energy companies sink along with the price of oil. Banks are rising along with interest rates, and Bank of America is climbing after a solid second-quarter report. Stocks finished at five-month highs last week as investors remained optimistic about the U.S. economy even as they worried about the trade war between the U.S. and China.

Markets Right Now: Energy companies drag US stocks lower

The Associated Press  |  Posted Jul 16th - 9:59am

The latest on developments in financial markets (all times local):

US retail sales rise at a healthy 0.5 percent pace in June

Christopher Rugaber, Associated Press  |  Posted Jul 16th - 9:49am

U.S. retail sales rose at a solid pace last month despite higher prices and modest wage gains, a sign of underlying consumer optimism.

Fired worker argues pot use didn't violate company policy

The Associated Press  |  Posted Jul 16th - 9:39am

A Massachusetts woman who was fired by a food services company for her recreational marijuana use says she was wrongfully terminated.

Russian President Vladimir Putin says Moscow, Washington could cooperate in stabilizing the world's energy market

The Associated Press  |  Posted Jul 16th - 9:38am

Russian President Vladimir Putin says Moscow, Washington could cooperate in stabilizing the world's energy market.

CEO-in-waiting talks about Spirit Airlines' future

David Koenig, Associated Press  |  Posted Jul 16th - 9:33am

The two things that stand out most about Spirit Airlines are its low fares and high number of complaints.

US challenges China, EU and others at WTO over steel tariffs

Paul Wiseman, Associated Press  |  Posted Jul 16th - 9:17am

The Trump administration is filing a challenge at the World Trade Organization against China, the European Union, Canada, Mexico and Turkey for retaliating against American tariffs on imported steel and aluminum.

EU says Airbnb must change booking system after complaints

The Associated Press  |  Posted Jul 16th - 9:09am

The European Union said Monday that Airbnb has until the end of August to address consumer complaints that the U.S. company's pricing and booking system can be misleading.

Puerto Ricans return to power grid, but fear for long term

Danica Coto, Associated Press  |  Posted Jul 16th - 9:03am

It was finally a night to celebrate in this village tucked into the mountains of central Puerto Rico.

Survey of economists: US sales and employment likely to grow

Dee-Ann Durbin, Associated Press  |  Posted Jul 16th - 8:59am

Most U.S. business economists expect corporate sales to grow over the next three months and hiring and pay to rise with them.

City officials consider demolishing bridge after deadly jump

The Associated Press  |  Posted Jul 16th - 8:52am

Authorities in Utah are considering demolishing an old iron bridge popular for illicit dives after a teenage boy died when he jumped into the water.

China files WTO challenge to US $200B tariff plan

Joe McDonald, Associated Press  |  Posted Jul 16th - 8:41am

China announced it filed a World Trade Organization challenge Monday to President Donald Trump's latest tariff threat, stepping up its diplomatic efforts to counter U.S. pressure in a spiraling technology dispute.

IMF: World economy likely to grow 3.9 percent this year

Paul Wiseman, Associated Press  |  Posted Jul 16th - 8:12am

The International Monetary Fund is keeping its forecast for global economic growth unchanged at 3.9 percent this year despite worries about rising trade tensions and higher oil prices. But the lending agency is downgrading the outlook for Europe and Japan.

Deadline looms for casinos' sports bet plans before football

Wayne Parry, Associated Press  |  Posted Jul 16th - 8:05am

Time is running out for some gambling companies that plan to offer legal sports betting in New Jersey before football season starts.

Prime time: A day of deals at Amazon, and at its rivals

The Associated Press  |  Posted Jul 16th - 8:00am

Amazon is extending its annual "Prime Day" promotion to 36 hours this year and will try to lure more deal-seekers to the aisles of Whole Foods. Shoppers will have plenty of sales to choose from as other retailers offer promotions to try to take a share of the spending.

France shuts Russia business office amid 'degraded' affairs

The Associated Press  |  Posted Jul 16th - 7:58am

France has announced the closure of its office in Russia that promotes exports and investments in France.

Saudi Arabia bans many video games after children's deaths

The Associated Press  |  Posted Jul 16th - 7:39am

Saudi Arabia says it's banning a long list of popular video games after allegations surfaced that two children killed themselves after being encouraged to do so in an online game.