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NEW YORK (AP) — Stocks are higher in afternoon trading on Wall Street. They're bouncing back from yesterday's sell-off that followed comments from Federal Reserve Chair Janet Yellen suggesting that stock prices might be too high. Traders are also awaiting the April jobs report that comes out tomorrow.
WASHINGTON (AP) — President Barack Obama will travel to Oregon tomorrow to pitch trade at Nike. The selection of the giant sports apparel company to promote Obama's agenda is causing a furor. Nike employs more than 8,500 workers in Oregon, but more than nine out of 10 Nike factory contract workers are in Asia. The largest number are in low-wage Vietnam, one of 11 countries with whom the U.S. is negotiating a Trans-Pacific trade deal.
BISMARCK, N.D. (AP) — The Hess Corporation says a shipment of oil involved in an explosive train derailment in North Dakota yesterday had been treated to reduce its volatility. The company says it complied with a new North Dakota law that requires propane, butane and other volatile gases to be stripped out of crude before it can be transported. Still, six cars caught fire. It was the fifth fiery accident since February involving a type of tank car that must be phased out or retrofitted by 2020 under a federal rule announced last week.
TOANO, Virginia (AP) — Lumber Liquidators is suspending the sale of all laminate flooring made in China. The move comes a week after the Virginia company disclosed that the Justice Department is seeking criminal charges against the specialty retailer in an investigation over imported products. The company says it's also facing more than 100 pending class-action lawsuits related to the flooring. The CBS news show "60 Minutes" reported in March that the flooring made in China contained high levels of the carcinogen formaldehyde.
NEW YORK (AP) — McDonald's may be developing a taste for a new ingredient as it fights to reinvent itself: kale. The world's biggest burger chain says it's testing two breakfast bowls in southern California, and one of them includes kale. The test comes as McDonald's works to shake its junk food image. It also follows a McDonald's ad that celebrated the Big Mac and mocked trendy ingredients like soy, quinoa (KEEN'-wah), Greek yogurt — and kale.
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