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NEW YORK (AP) — Stocks are edging higher in afternoon trading on Wall Street, after an early rally lost some steam. Consumer-focused companies and tech stocks are higher, but renewed losses for energy companies are limiting the gains overall. A dip in bond yields pushed some big-dividend stocks higher, including utilities, phone companies and makers of everyday household goods.
DETROIT (AP) — Volkswagen has pleaded guilty in a scandal related to diesel emission tests, but a federal judge in Detroit isn't ready to sentence the automaker. Judge Sean Cox says he wants to study the agreement negotiated by VW and the U.S. Justice Department and will hold another hearing on April 21. Volkswagen has agreed to pay a $2.8 billion criminal fine in addition to a $1.5 billion civil fine that was negotiated separately. The company admitted installing software that activated pollution controls during government tests and switched them off during regular driving.
PEORIA, Ill. (AP) — Caterpillar is denying that it broke federal tax laws, and says it's cooperating with investigators. The statement comes a week after the Internal Revenue Service and other federal agencies raided Caterpillar's Illinois headquarters and other facilities. The exact reason for the raids is unclear, but Caterpillar told the Securities and Exchange Commission last month that the IRS had notified the company it owed $2 billion in additional taxes because of profits from a Swiss unit.
VICTORIA, Australia (AP) — Tesla chief Elon Musk is promising to solve an energy crisis in Australia. Musk says Tesla will install the batteries needed to prevent ongoing blackouts in South Australia and have the situation fixed within 100 days — or his company's services will be free. Australian billionaire Mike Cannon-Brookes has accepted the deal and says he'll work on politics and funding for the project.
NEW YORK (AP) — At least 22 Major League Soccer games this season will be streamed live on Facebook with English-language commentary under an agreement with Univision Deportes. The league and network say the first one will be Chicago's match at expansion Atlanta on March 18. Univision says the Facebook streams will have their own commentators, interactive graphics and fan question-and-answer features. The streamed games are matches Univision already holds rights to, and the streams will be viewable only in the U.S.
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