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FINANCIAL MARKETS

US stock indexes higher

NEW YORK (AP) — Stocks are trading higher on Wall Street, pushing major indexes to more record highs.

All but one of the 11 sectors that make up the S&P 500 are up, led by health care and technology companies.

Micron Technology rose 2.6%, and AbbVie rose 3%.

Disney rose 1.6% on the day its highly anticipated streaming video service, Disney Plus, launched to high demand.

Rockwell International jumped 12.5% after reporting earnings that were far ahead of what analysts were expecting.

Bond prices are holding steady.

TRUMP

Trump claims credit for economy, jobs in New York speech

NEW YORK (AP) — President Donald Trump is claiming credit for nation's strong economic performance under his leadership.

In a speech at the Economic Club of New York, Trump says he's proud to report "that we have DELIVERED on our promises - and exceeded our expectations."

He says his administration is responsible for the creation of 7 million jobs and 2 million Americans rejoining the workforce. Only 6.25 million jobs have been created since he's been in office.

Trump also cites his efforts to roll back federal regulations, massive tax cuts he enacted at the end of his first year in office, and low unemployment rates across major demographic groups.

Trump delivered the speech against a backdrop of anxiety over his administration's trade policies, including talks with China meant to deescalate an 18-month trade war.

SUPREME COURT-NEWTOWN SHOOTING

Supreme Court lets Sandy Hook shooting lawsuit go forward

WASHINGTON (AP) — The Supreme Court is letting a lawsuit proceed against the maker of the rifle used in the Sandy Hook Elementary School shooting.

The justices rejected an appeal Tuesday from Remington Arms that argued a 2005 federal law shields firearms manufacturers from most lawsuits when their products are used in crimes.

The court's order allows a survivor and relatives of nine victims who died at the Newtown, Connecticut, school in 2012 to pursue their claims.

The lawsuit says the Madison, North Carolina-based company should never have sold a weapon as dangerous as the Bushmaster AR-15-style rifle that gunman Adam Lanza used to kill 20 first graders and six educators. It also alleges Remington targeted younger, at-risk males in marketing and product placement in violent video games.

The National Rifle Association was among those urging the court to jump into the case and end the lawsuit against Remington.

CHINA-US-HUAWEI

Huawei giving employees bonus for coping with US sanctions

BEIJING (AP) — Huawei is paying its employees bonuses for helping the Chinese tech giant cope with U.S. sanctions that threaten its smartphone and other businesses.

A company announcement circulated Tuesday on social media said 90,000 employees will share 2 billion yuan ($285 million), or about 22,000 yuan ($3,100) each. Huawei's 180,000-member workforce also will receive an extra month's salary.

In a written response to questions, the company confirmed the document was genuine but said it had no comment.

The announcement told employees the bonuses were to "thank you for your efforts" since U.S. curbs on technology sales to Huawei were announced in May.

The larger bonus goes to employees in chip production, research and development and manufacturing-related jobs. The company has overhauled its product line to reduce use of U.S. components.

DEAN FOODS-SALE

Dean Foods seeks bankruptcy protection, sale

DALLAS (AP) — Dean Foods, America's biggest milk processor, has filed for bankruptcy amid a steep, decades-long drop-off in U.S. milk consumption blamed on soda, juices and, more recently, nondairy substitutes.

The Dallas company said it may sell itself to the Dairy Farmers of America, a marketing cooperative owned by thousands of farmers.

Dean Foods Co. has lost money in eight of its last 10 quarters and in seven of its last eight quarters it's posted declining sales.

Since 1975, the amount of milk consumed per capita in the U.S. has tumbled more than 40%. Americans consumed around 24 gallons per year in 1996, according to government data. That dropped to 17 gallons in 2018.

CZECH-US-HELICOPTERS

Czechs to sign deal to buy 12 US military by year's end

PRAGUE (AP) — The Czech defense minister says the government is planning to sign a deal with the U.S. government by year's end to purchase 12 military helicopters.

Defense Minister Lubomir Metnar says the deal is worth the worth 14.6 billion Czech crowns ($631 million) and the helicopters are to be delivered in 2023 to replace the obsolete Soviet-made Mi-24s.

The Czechs will get eight UH-1Y Venom choppers and four AH-1Z Vipers from U.S. maker Bell Hellicopter.

Metnar said Tuesday the contract includes equipment, ammunition, spare parts and training of the personnel.

He said the deal best covers the need of the Czech air forces.

JAPAN-EARNS-NISSAN

Scandal-hit Nissan's profits crash amid lower global sales

TOKYO (AP) — Japanese automaker Nissan says its July-September profit tumbled to half of what it earned the previous year as sales and brand power crumbled following the arrest of its former Chairman Carlos Ghosn.

Nissan Motor Co. reported Tuesday that its fiscal second quarter profit totaled 59 billion yen ($541 million), down from 130 billion yen.

Quarterly sales slipped nearly 7% to 2.6 trillion yen ($24 billion) as vehicle sales fell around the world, including the U.S., Europe and Japan.

Ghosn, arrested in November 2018, is out on bail. It's unclear when his trial might start.

He faces various allegations, including under-reporting promised compensation in documents and breaching trust in making dubious payments

Nissan was also charged. It reiterated its promise to improve governance, corporate culture and ethical standards.

GERMANY-LUFTHANSA STRIKE

Germany's Lufthansa, union agree to arbitration in dispute

BERLIN (AP) — Germany's largest airline, Lufthansa, says it has agreed to enter arbitration with a union representing cabin crew workers, averting the possibility of more strikes for the time being.

Lufthansa said Tuesday in a joint statement with the UFO union that recent talks between the two sides had been "constructive" and shown "that we can come to a solution together."

The union most recently held a two-day strike last week, forcing Lufthansa to cancel hundreds of flights.

The two sides have been locked in a bitter dispute over pay and the union's legal status.

They say they hope a neutral arbitrator will now help them find a solution acceptable to both parties and plan a press statement on the progress on Thursday.

DISNEY PLUS-OUTAGES

Disney Plus suffers some technical difficulties at launch

NEW YORK (AP) — Disney's brand-new streaming service Disney Plus may be a victim of its own success.

The $7-a-month service offering an array of Disney classics and new shows suffered some technical difficulties hours after launching at 3 a.m. E.T. on Tuesday.

The problems started a little before 7 a.m., according to downdetector.com, a website that tracks outages. It received more than 8,000 reports of difficulties, mostly with video streaming. Others reported problems logging in.

Disney is working to resolve the issue after consumer demand exceeded its expectations, said spokeswoman Karen Hobson. The company did not say what caused the problem.

WORLD FOOD PRIZE-PRESIDENT

Leader of food security nonprofits to head World Food Prize

DES MOINES, Iowa (AP) — A woman who has led nonprofit organizations focused on global food security and the impact of climate change on agricultural productivity is the new president of the World Food Prize Foundation.

Barbara Stinson will succeed Kenneth Quinn, the former U.S. ambassador to Cambodia whose 20-year leadership established an international presence for the Des Moines, Iowa-based foundation. It attracts 1,200 world leaders from 65 countries to the annual award ceremony and symposium focused on global food security and nutrition.

The foundation awards the $250,000 World Food Prize annually to individuals who work to reduce world hunger.

Quinn is retiring, and Stinson begins Jan. 4.

Plant scientist Norman Borlaug, the 1970 Nobel Peace Prize recipient, created the award to recognize scientists and others who have improved the quality and availability of food.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The Associated Press

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