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NEW YORK (AP) — Stock indexes are moving between small gains and losses in afternoon trading on Wall Street. Amazon and several other big companies are lower after reporting quarterly results that failed to impress investors. Tobacco stocks are sliding after the U.S. government said it may consider limiting the amount of nicotine in cigarettes. Treasury yields dipped after the government said the U.S. economy accelerated in the spring but also revised down its growth for the first quarter.
AUSTIN, Texas (AP) — Police in Austin, Texas, will pull nearly 400 Ford Explorer SUVs from their patrol fleet amid complaints of exhaust fumes inside the vehicles. The move comes as U.S. auto safety regulators investigate complaints of exhaust fume problems in more than 1 million Explorers from the 2011 through 2017 model years. Austin police installed carbon monoxide alarms in the department's Explorers after officers reported becoming sick. The police chief says 20 officers were found to have measurable carbon-monoxide in their systems.
WASHINGTON (AP) — The U.S. Food and Drug Administration wants to lower nicotine levels in cigarettes so they aren't so addictive. The FDA plans to seek comments as it develops new regulations. Commissioner Scott Gottlieb also says the FDA is giving e-cigarette makers more time for a review of the products already on the market. He says the agency needs time to focus on nicotine regulation and not be distracted by the debate on whether e-cigarettes help smokers quit.
WASHINGTON (AP) — Soaring prices and fewer choices may greet customers when they return to the Affordable Care Act's insurance marketplaces this fall, because insurers still don't know whether they will receive critical payments from the federal government. Insurers — and customers — are wondering what happens next, after the latest push to dismantle the Affordable Care Act fell apart in a narrow Senate vote early today. Without the subsidies, estimated at $7 billion a year, insurers would either charge much more for coverage, or decide not to offer coverage at all.
NEW YORK (AP) — Wells Fargo is paying $80 million to customers who were signed up and charged for auto insurance they didn't want or need. The bank says roughly 570,000 customers were affected and will be getting refunds. Like most auto loan companies, Wells Fargo required borrowers to have comprehensive and collision insurance. If they didn't have comprehensive coverage, Wells would purchase it for customers and charge them for it. Wells admits its systems signed up customers who already had insurance and that some premiums "may have contributed to a default that led to their vehicle's repossession."
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