Estimated read time: 2-3 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
NEW YORK (AP) — U.S. markets are drifting lower as traders look ahead to a much-anticipated Federal Reserve meeting later this week. More signs of slowing economic growth in China are weighing on prices for copper and other commodities, driving stocks of material producers down. Oil and gas companies are down along with the price of crude oil. The Dow was down 65 to 16,368 as of 2:20 p.m. Eastern time. The S&P 500 was down 9 to 1,952 and the Nasdaq had declined 18 points to 4,804.
DETROIT (AP) — It may be a sign Fiat Chrysler is nearing an agreement with the United Auto Workers union. Fiat Chrysler CEO Sergio Marchionne has canceled plans to attend the Frankfurt International Motor Show in Germany, because he's staying in the U.S. to deal with unspecified business matters. Sunday, the UAW said it had picked Fiat Chrysler as its target company in the contract talks, which means a deal reached could set a general pattern for contracts with GM and Ford. Current contracts between the UAW and the three carmakers expire at midnight.
ALBANY, N.Y. (AP) — New York financial regulators have reached agreements with Goldman Sachs, Deutsche Bank, Credit Suisse and Bank of New York Mellon that require them to retain electronic records for seven years with a new cloud-based communications service. The Department of Financial Services says the agreements are meant to ensure the banks responsibly use Symphony Communications' chat and messaging platform, which includes a feature described as "guaranteed data deletion." In July letters, the department told the banks and Symphony it was concerned the service, created through a consortium of financial institutions, could hinder the ability of regulators and prosecutors to investigate misconduct.
NEW YORK (AP) — The talent management company WME/IMG says it has acquired The Miss Universe Organization from Donald Trump. Monday's announcement comes after Trump last week bought out NBCUniversal's interest in the property, which includes the Miss Universe, Miss USA and Miss Teen USA pageants. NBCUniversal's sale to the developer and GOP presidential front-runner was the final step in a divorce that started in June, when NBC said it was ending its business relationship with Trump over his comments about Mexican immigrants. No dollar figure was disclosed for WME/IMG's purchase of the organization.
NEW YORK (AP) — Former California Gov. Arnold Schwarzenegger will attempt to fill Donald Trump's shoes on "The Celebrity Apprentice." NBC announced Monday that the movie star and two-term governor is the new host of the competition show, which will return to the network for the 2016 television season. Trump lost his spot on the show when NBCUniversal severed ties with him over comments he made about Mexican immigrants. There's no word yet on whether Schwarzenegger will replace Trump's "you're fired" catchphrase with his own "you're terminated."
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
