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NEW YORK (AP) — A weak Chinese manufacturing survey weighed on U.S. and European markets today, renewing concerns that the world's second-largest economy might be slowing down. At 10:27 a.m. Eastern Time, the Dow lost 165 points, to 17,726. The S&P 500 lost 20 points, to 2,061. And the Nasdaq composite fell 50 points, to 4,768.
DETROIT (AP) — America's love of trucks and SUVs helped push most automakers to healthy sales gains last month as Ford reports record SUV sales and Nissan is posting its best April ever. Nissan's sales rose 12.8 percent for the month, while Fiat Chrysler posted a 6 percent gain. Ford's sales rose 4 percent. General Motors, which is cutting back on low-profit sales to rental car companies, posted a 3.5 percent decline.
WASHINGTON (AP) — Mortgage giant Freddie Mac is reporting a net loss of $354 million for the first quarter, mostly due to losses it sustained on the investments it uses to hedge against swings in interest rates. The government-controlled company says the January-through-March loss mainly reflected accounting measures, while its business remained strong. The loss compares with net income of $524 million in the same period of 2015.
NOVATO, Calif. (AP) — The California-based company The Republic of Tea is recalling one of its green tea blends as a precaution over fears of possible salmonella contamination. The company says the voluntary recall of its Organic Turmeric Ginger Green Tea comes after a supplier said one lot of its organic ginger ingredient could be contaminated. Tests conducted by The Republic of Tea have found no salmonella. No illnesses have been reported.
NEW YORK (AP) — Beyonce apparently has fruit juice on her mind. She's investing in a startup beverage company that makes cold-pressed watermelon juice. The Co-founder and creative director of WTRMLN WTR says Beyonce is "aligned with many of our company's core values, especially our commitment to empowerment." Jody Levy isn't saying how much the entertainment icon has invested. Beyonce recently released an album called "Lemonade."
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