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NEW YORK (AP) — The S&P is closing at a record high, surpassing the peak it set last September and recouping all the ground it lost in a nosedive late last year. The Nasdaq also closed at a record high. The increase is credited to greater confidence in the economy and reassurances that the Federal Reserve is unlikely to raise interest rates this year. The Dow rose 145 points
NEW YORK (AP) — The former head of a drug distributor has been indicted on what federal prosecutors say are the first-ever criminal charges against a drug company executive stemming from the opioid crisis. The indictment unsealed today alleges former Rochester Drug Co-Operative CEO Laurence Doud III ordered subordinates to ignore red flags about certain customers to maximize company revenues and his own pay. Doud's lawyer said he intends to "fully defend" himself against the criminal charges.
ALBANY, N.Y. (AP) — Federal prosecutors say a former General Electric engineer and his business partner in China stole the company's trade secrets from a New York plant for the Chinese government. The Department of Justice announced Tuesday that Xiaoqing Zheng and Zhaoxi Zhang have been indicted on charges of economic espionage and conspiracy for stealing GE's turbine technologies for China. Zhang is in China. Zheng's lawyer didn't comment. An email seeking comment was sent to the Chinese embassy.
NEW YORK (AP) — Kohl's wants you to skip the post office and bring your Amazon returns to its stores. The department store chain says it will accept Amazon returns at all its 1,150 stores starting in July. Kohl's had been testing Amazon returns at 100 stores for nearly two years and sees the service as a way to get people in its doors and maybe get them to buy something while they're there. Shares of Kohl's Corp. soared after the announcement.
KANSAS CITY, Mo. (AP) — Tax preparer H&R Block says its co-founder, Henry Bloch, has died at the age of 96. He died Tuesday at St. Luke's Hospice in Kansas City. He founded H&R Block in 1955 in the city with his brother, Richard, to take advantage of the vacuum left as the Internal Revenue Service stopped providing free income tax returns service. Richard Bloch died in 2004.
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