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NEW YORK (AP) — Stocks are moving higher in afternoon trading on Wall Street, led by gains in technology and health care companies. High-dividend stocks like real estate companies and utilities are also posting big gains following a drop in bond yields. But the lower yields and a weak forecast from JPMorgan Chase are weighing on bank stocks.
DOVER, Del. (AP) — Japanese auto parts supplier Takata is asking a Delaware bankruptcy judge for an injunction prohibiting the governments of Hawaii, New Mexico and the U.S. Virgin Islands from prosecuting lawsuits involving the company's lethally defective air bag inflators. Takata says allowing the lawsuits to proceed would seriously jeopardize its restructuring efforts. Takata was forced into bankruptcy amid lawsuits, multimillion-dollar fines and crushing recall costs involving the air bags.
WASHINGTON (AP) — Two prominent Washington, D.C., pastors have filed suit against Coca-Cola and the American Beverage Association, claiming soda manufacturers knowingly deceived customers about the health risks of sugar-sweetened beverages. They say soda marketing has made it more difficult to protect the health of their parishioners. The Washington Post reports the complaint filed in D.C. Superior Court alleges that Coca-Cola and the ABA ran an intentional campaign to confuse consumers about the causes of obesity. Coca-Cola disputes the allegation.
BASTROP, Texas (AP) — Cleanup continues at a site east of Austin, Texas, where about 50,000 gallons of crude oil leaked when a contractor using heavy equipment hit an underground pipeline. Officials with Oklahoma-based Magellan Midstream Partners say no one was hurt in yesterday's accident during maintenance on the Longhorn pipeline, and crews have collected all of the free-standing oil. The company says repairs are being done and the pipeline should resume normal operations next week.
DETROIT (AP) — Honda has unveiled a redesigned Accord that is lower, wider, lighter and sleeker than its predecessor. The company says it's also faster and handles better. Honda is hoping the new Accord, due in showrooms in the fall, will reverse the car's sales decline. Through June, sales fell 5.5 percent compared with last year as U.S. buyers shun midsize cars in favor of SUVs.
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