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NEW YORK (AP) — Stocks are slipping on Wall Street along with the price of oil. Benchmark U.S. crude has dropped below $40 a barrel in New York, causing big drops in the share prices of energy companies. Exxon Mobil and Chevron were down 3 percent or more. That's been a weight on the Dow and the S&P 500, though each is down less than one percent. Meanwhile, the Nasdaq composite has been in positive territory all day.
MINEOLA, N.Y. (AP) — A New York engineering firm that was hired by insurance companies to evaluate damage caused by Superstorm Sandy is facing charges that it illegally altered reports prepared by field inspectors. An indictment charges HiRise Engineering and one of its project managers with felony fraud. The project manager also faces charges of practicing engineering without a license. He and the company deny wrongdoing and pleaded not guilty during an arraignment today in Nassau County.
DALLAS (AP) — Pilots' union leaders are calling on Southwest Airlines to dump its CEO. The union says, under CEO Gary Kelly's leadership, Southwest has been spending too much on buying back shares and not enough on updating its technology. The union says that led to the July 20 technology outage that caused the airline to cancel or delay thousands of flights. Southwest blamed a faulty router for the outage that briefly grounded all flights and caused several more days of disruptions.
PARIS (AP) — Air France continues to juggle flights as it tries to cope with a seven-day strike by cabin crew. The airline warns of continuing last-minute flight cancellations and delays. Air France cancelled 5 percent of its long-distance flights today, but that's less than in previous days. Cabin crew unions called for a strike through tomorrow to protest further cuts in the number of crew members.
NEW YORK (AP) — McDonald's says it's purging some unpalatable ingredients from its most popular menu items. The moves include making Chicken McNuggets and other items without artificial preservatives, and removing high-fructose corn syrup from its burger buns. McDonald's is trying to win back customers put off by its image for serving processed junk food.
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