FINANCIAL MARKETS
Stocks edge lower
NEW YORK (AP) — Stocks edged lower in afternoon trading after briefly approaching the record highs they reached a month ago.
The quiet opening to the week follows several choppy weeks as investors continue to gauge the economy’s recovery and the risks of rising inflation. On Thursday investors will get more information on how much consumer prices rose last month.
The S&P 500 was down 0.3%. Technology stocks, banks and industrial companies pulled the broader market lower. Health care companies made solid gains, as did cruise line operators.
The yield on the 10-year Treasury held steady at 1.57%. Crude oil prices were little changed.
FRANCE-GOOGLE
France fines Google for abusing “dominant” ads position
PARIS (AP) — France’s competition watchdog says it’s fining Google $268 million for abusing its ‘dominant position’ in the online advertising business.
The nation’s Competition Authority says practices used by the search engine giant to sell ads penalize Google’s competitors” as well as publishers of mobile sites and applications.
Google France’s legal director said in a blog post Monday that Google has been collaborating for the past two years with the French watchdog on issues related to ad technology, notably the platform known as Google Ad Manager. She wrote that commitments made during negotiations would “make it easier for publishers to make use of data and use our tools with other ad technologies.”
VIRUS OUTBREAK-MODERNA
Moderna seeks to use vaccine for adolescents
AMSTERDAM (AP) — Moderna Inc. has filed a request with the European Medicines Agency for its COVID-19 vaccine to be granted authorization for use in adolescents.
In a statement on Monday, Moderna said it had filed data for a conditional marketing approval in the 27-nation EU bloc to expand its coronavirus vaccine to children, beyond the green light it received in January for use in adults 18 and over. If authorized, it would be the second COVID-19 vaccine for children to be cleared in the EU.
Moderna has also filed for authorization to use its vaccine under emergency use regulations in the U.S. and Canada.
ALZHEIMER-DRUG
FDA approves much-debated Alzheimer’s drug panned by experts
WASHINGTON (AP) — Government health officials have approved the first drug that they say may help slow Alzheimer’s disease.
The decision came after the agency’s independent advisers said the treatment hadn’t been shown to help treat the brain-destroying disease. The Food and Drug Administration is not required to follow their advice and approved the infused drug from Biogen. It’s the first new Alzheimer’s treatment in nearly 20 years and the only one that FDA has backed to treat the underlying disease, rather than manage symptoms.
One physician who voted against the drug says he is surprised and disappointed by the approval.
SHOPPING-CAMPAIGN
Stores enlist shoppers to stop bad behavior against workers
NEW YORK (AP) — A dozen retailers including Gap and H&M are collaborating on a campaign this fall to enlist customers to combat bad behavior against retail workers.
The campaign is being spearheaded by Open to All and two other groups, and comes as workers face increased harassment as they try to enforce social distancing and mask protocols during the pandemic. Among those who have been the targets of abuse are people of color, those with disabilities and those who identify as LGBTQ.
Open to All’s director says the campaign is not asking customers to step in physically to stop altercations, but rather to help de-escalate the situation and show support for workers.
BEZOS-SPACE
Jeff Bezos riding his own rocket in July, joining 1st crew
UNDATED (AP) — Jeff Bezos will ride his own rocket into space next month, joining the first crew to fly in a Blue Origin capsule. The Amazon CEO announced Monday that he will launch July 20 from Texas along with his firefighter brother. Also on board the capsule for the 10-minute hop will be the highest bidder in a charity auction.
Virgin Galactic’s Richard Branson also plans to launch aboard his own rocket later this year.
Blue Origin completed the 15th test flight of its New Shepard rocket in April. For its first launch with passengers, the company chose the 52nd anniversary of the Apollo 11 moon landing.
VOLVO-TRUCK STRIKE
No deal: Volvo truck workers striking again in Virginia
DUBLIN, Va. (AP) — Nearly 3,000 employees at Volvo’s truck factory in Virginia are back on strike. The United Auto Workers say the action comes after they overwhelmingly rejected the latest tentative agreement on a new 6-year contract.
Volvo says the plant in Dublin, Virginia is the world’s largest manufacturer of Volvo tractor-trailers.
New River Valley plant General Manager Franky Marchand called the action “difficult to understand” since the tentative deal included economic improvements and a competitive benefits package. The workers’ bargaining committee says they still haven’t resolved issues including health care, wages, health and safety, plant shifts, time off and future raises.
FISHER PRICE-RECALL
Fisher-Price recalls baby soothers after 4 infant deaths
EL SEGUNDO, Calif. (AP) — Fisher-Price says it is recalling a model of its baby soothers after the deaths of four infants who were placed on their backs unrestrained in the devices and later found on their stomachs.
In a joint statement with the Consumer Product Safety Commission, Fisher-Price said Friday it is recalling its 4-in-1 Rock ’n Glide Soothers, which are designed to mimic the motion of a baby being rocked in someone’s arms.
The fatalities between April 2019 and February 2020 were a 4-month old from Missouri, a 2-month old from Nevada, a 2-month old from Michigan and an 11-week old from Colorado, according to the statement.
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