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US stocks slightly lower ... US home prices rise modestly, consumer confidence up ... Apple to appeal EU decision


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NEW YORK (AP) — U.S. stocks were slightly lower in early trading this morning in what looks to be another quiet day as the summer comes to an end. Hershey plunged after the company walked away from a merger proposal, and Apple slipped after the company was hit with a large tax bill in Europe. At 10:25 a.m. Eastern Time, the Dow was down 58 points at 18,445. The S&P 500 slipped 5 points, to 2,175. And the Nasdaq was down 8 points at 5,224.

WASHINGTON (AP) — U.S. home prices rose modestly in June, pushed up by strong sales and a limited supply of available properties. The Standard & Poor's CoreLogic Case-Shiller 20-city home price index increased 5.1 percent in June compared with a year ago. That's down from a 5.3 percent annual gain in May and is the slowest year-over-year pace since last August. Home values are still soaring in the Northwest, but have slowed to more sustainable rates elsewhere.

WASHINGTON (AP) — U.S. consumer confidence increased in August to its highest level in nearly a year, suggesting economic growth could pick up in the second half of the year. The Conference Board says that its consumer confidence index rose to a reading of 101.1, up from 96.7 in July. It was the highest level for confidence in 11 months, since the index hit 102.6 last September.

CUPERTINO, Calif. (AP) — Apple CEO Tim Cook says the iPhone maker never asked or received "special deals" on its taxes from Ireland. And he says Apple will appeal the European Union's decision ordering Apple to pay up to $14.5 billion in back taxes. In a letter on Apple's website, Cook says the company has followed the law since it opened its factory in Cork, Ireland, nearly 36 years ago. Cook says the EU is trying to replace Irish tax laws with what it thinks the law should have been.

SEATTLE (AP) — One of the first U.S. cities to phase in a $15 hourly minimum wage, mandate sick leave for many companies and offer paid parental leave for city workers, is now cracking down on erratic work schedules for hourly employees in retail and food-services. Seattle leaders are proposing new rules that would include requiring businesses to schedule shifts two weeks in advance and compensate workers for some last-minute schedule changes.

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