Business Highlights
WASHINGTON (AP) — Steven Mnuchin, President-elect Donald Trump's pick as Treasury secretary, clashed with Democrats during a lengthy confirmation hearing Thursday over his handling of thousands of mortgage foreclosures and his failure to initially disclose to the committee $100 million in assets and interests in a Cayman Islands corporation.
Agriculture secretary was the final Cabinet post to be announced by Trump, who is set to take office Friday.
WASHINGTON (AP) — Tesla Motors Inc. won't face a recall or fine as a result of a fatal crash involving its Autopilot system, but U.S. safety regulators are warning auto manufacturers and drivers not to treat semiautonomous cars as if they were fully self-driving.
The National Highway Traffic Safety Administration said Thursday it found that the system had no safety defects at the time of the May 7 crash in Florida, and that it was primarily designed to prevent rear-end collisions rather than other crash scenarios.
NEW YORK (AP) — The Dow Jones industrial average erased its gains for 2017 on Thursday as it fell for the fifth day in a row, part of a pullback for stock indexes as Treasury yields continued their upward march.
Utilities, real-estate investment trusts and others that pay big dividends were among the hardest hit because their payouts look less attractive when bond yields are rising.
Net income reached $1.14 billion, or $1.39 per share, well above the per-share earnings of $1.34 that Wall Street was looking for, according to Zacks Investment Research.
Union Pacific Chairman and CEO Lance Fritz said higher energy prices, favorable agricultural markets and improving consumer confidence all suggest railroad shipping volumes will grow this year.
Automakers with recalls posted Thursday are Audi, Nissan, Jaguar-Land Rover, Subaru, Daimler Vans, Tesla, Mitsubishi, BMW, Ferrari, Mercedes, Mazda, McLaren and Karma.
The government says that Western Union did
