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Markets Right Now: Trade worries send stocks lower

The Associated Press  |  Posted Jun 21st - 10:06am

The latest on developments in financial markets (all times local):

OPEC enters meeting that could set direction of oil prices

David Koenig, Associated Press  |  Posted Jun 21st - 10:00am

and the effect on oil prices — remain wild cards.

Ocean Resort Casino, formerly Revel, gets casino license

Wayne Parry, Associated Press  |  Posted Jun 21st - 9:59am

A Denver developer and New Jersey gambling regulators made a big bet Thursday on the future of Atlantic City and a casino that flopped four years ago, granting a casino license to the Ocean Resort Casino a week before it is due to reopen.

Deutsche Telekom subsidiary T-Systems to cut 10,000 jobs

The Associated Press  |  Posted Jun 21st - 9:59am

German IT services and consulting company T-Systems, a subsidiary of Deutsche Telekom, plans to cut 10,000 jobs worldwide by 2020.

White House proposes merging education, labor

Jill Colvin and Ken Thomas, Associated Press  |  Posted Jun 21st - 9:57am

The Trump administration will propose a major reorganization of the federal government on Thursday that calls for merging the education and labor departments, moving the federal food stamp program to the Department of Health and Human Services and renaming that agency.

Intel CEO out after consensual relationship with employee

Barbara Ortutay, Associated Press  |  Posted Jun 21st - 9:54am

Intel CEO Brian Krzanich resigned after the company learned of what it called his consensual relationship with an employee.

UPDATED

High Court: Online shoppers can be forced to pay sales tax

Jessica Gresko, Associated Press  |  Posted Jun 21st - 9:48am

States will be able to force shoppers to pay sales tax when they make online purchases under a Supreme Court decision Thursday that will leave shoppers with lighter wallets but is a big win for states.

US stocks skid as industrial and energy companies fall

Marley Jay, Associated Press  |  Posted Jun 21st - 9:44am

U.S. stocks are lower Thursday as investors again worry about the potential effects of the U.S.-China trade dispute. German automaker Daimler lowered its annual profit forecast, partly because of higher import taxes on U.S. vehicles in China. Industrial companies are taking more losses. Energy companies are falling along with oil prices and online retailers are skidding after the Supreme Court ruled that states can force online shoppers to pay sales tax.

Tariffs stir unrest among American whiskey producers

Bruce Schreiner, Associated Press  |  Posted Jun 21st - 9:40am

Much of the rye whiskey aging in hundreds of barrels at Catoctin Creek Distillery in Virginia could end up being consumed in Europe, a market the 9-year-old distilling company has cultivated at considerable cost.

Xiaomi: A Chinese startup out to challenge Google, Amazon

Youkyung Lee, Associated Press  |  Posted Jun 21st - 9:38am

Xiaomi, a Chinese cellphone maker that helped pioneer the trend toward ultra-low-priced smartphones, is preparing for what would possibly be the biggest tech initial public offering since e-commerce giant Alibaba's in 2014.

Trump's Mideast team arrives in Egypt

Associated Press  |  Posted Jun 21st - 9:37am

President Donald Trump's Mideast team arrived in Cairo on Thursday, the White House said, the latest stop in a regional tour to discuss a blueprint for an Israeli-Palestinian peace deal.

US long-term mortgage rates fall; 30-year at 4.57 percent

The Associated Press  |  Posted Jun 21st - 9:36am

Long-term U.S. mortgage rates fell this week, marking their third decline in the past four weeks after increasing last week.

Dutch arrest 2 suspected of preparing extremist attack

The Associated Press  |  Posted Jun 21st - 9:25am

Dutch authorities have arrested two men suspected of preparing an extremist attack.

Greek phone executive's death in wiretap case ruled murder

The Associated Press  |  Posted Jun 21st - 9:13am

A Greek prosecutor has brought murder charges against unknown perpetrators over a telecoms executive's death — initially dismissed as suicide — on the eve of a major wiretap scandal in 2005.

Of Mutual Interest: Reacting to volatile oil prices

Marley Jay, Associated Press  |  Posted Jun 21st - 8:48am

Just a month ago oil surged to its highest price in three years, and some investors were wondering if crude was again on its way to $100 a barrel.

Report highlights lessons learned in Houston from Harvey

Juan A. Lozano, Associated Press  |  Posted Jun 21st - 8:47am

A new report about Hurricane Harvey's impact on the Houston area highlights a variety of issues that it says contributed to the extensive damage.

Supreme Court: States can force online shoppers to pay sales tax

The Associated Press  |  Posted Jun 21st - 8:19am

Supreme Court: States can force online shoppers to pay sales tax.

Water balloon slingshots top list of unsafe summer toys

The Associated Press  |  Posted Jun 21st - 8:17am

A Boston-based consumer watchdog group has warned of the dangers to children of water balloon slingshots, lawn darts and other summer toys.

UK outlines 'simple' process for EU citizens after Brexit

The Associated Press  |  Posted Jun 21st - 8:16am

Britain has outlined how it plans to handle as many as 3.5 million residence applications from European Union citizens after Brexit, admitting Thursday that the scale of the process poses a challenge.

Europe looks for an end to Greece's 8-year bailout saga

Raf Casert, Associated Press  |  Posted Jun 21st - 7:48am

Eurozone nations were confident Thursday that they could agree on the final elements of a plan to get Greece out of its eight-year bailout program and make its massive debt burden manageable.