Senate GOP insisting on Obamacare repeal for tax overhaul
WASHINGTON (AP) — Senate Republicans said Tuesday they are intent on a repeal of the Obama health care law requirement that Americans get health insurance, as a way to pay for cuts in corporate taxes and individual rates. The surprise renewal of the failed effort to repeal the law’s mandate came a day after President Donald Trump renewed pressure on GOP lawmakers to include the repeal in their tax overhaul legislation.
US oil and gas ‘resurgence’ expected as global demand grows
LONDON (AP) — A global energy watchdog says it expects the U.S. to become the undisputed world leader in oil and gas production after a resurgence in its industry to meet growing demand over the next two decades. The report from the Paris-based International Energy Agency also predicts that solar power will become the cheapest source of new electricity generation and that the boom years for coal are over.
Trump administration seeks to delay findings on pesticides
WASHINGTON (AP) — President Donald Trump’s administration is seeking a two-year delay of an upcoming deadline to determine whether a family of widely used pesticides is harmful to endangered species. The request filed with a federal judge comes after Dow Chemical and two other pesticide makers asked the government to set aside research by federal scientists that shows the pesticides are harmful to about 1,800 critically threatened or endangered species. Dow contends the studies are flawed.
US regulators approve first digital pill to track patients
WASHINGTON (AP) — The U.S. Food and Drug Administration has approved the first digital pill that can track whether patients have taken their medicine. The technology is intended to help prevent dangerous emergencies when patients don’t take their medication. But the drugmaker must convince insurers to pay for the technology, which hasn’t been shown to improve patient’s medication compliance.
California wineries assess wildfires’ long-term effects
NAPA, Calif. (AP) — Most vineyards in California’s wine country were spared during last month’s wildfires due to their high moisture content, and some even helped save surrounding structures by acting as fire breaks. But many are now dealing with other effects of the deadly fires, include making up for losses from being closed at the busiest time of the year, assessing the impact of smoke and other damage on this year’s vintage, and persuading tourists to return to the region.
Energy leads modest slide in US stocks as oil prices fall
NEW YORK (AP) — Energy companies led U.S. stocks modestly lower Tuesday, erasing the small gains the market made a day earlier. The biggest drop in crude oil prices since October weighed on oil producers and other energy stocks. Disappointing results or outlooks from retailers and other companies also weighed on the market. Utilities and consumer-focused companies like packaged food and beverage makers, restaurant chains, bucked the trend. Investors had their eye on Washington D.C., where the House is expected to vote on its version of a major tax bill this week. Expectations that the tax overhaul will sharply lower corporate taxes have helped lift the market higher this year.
San Francisco under pressure to pass cannabis-friendly rules
SAN FRANCISCO (AP) — Supervisors in famously pot-friendly San Francisco are under pressure from cannabis advocates to pass regulations that would allow the industry to flourish once recreational sales become legal in January. California senator Scott Wiener, a Democrat and former supervisor from San Francisco, issued a stinging statement Tuesday saying the board was “getting dangerously close to destroying” an industry embraced by most of the city. Supervisors are scheduled to take up regulations Tuesday.
‘Weinstein Effect’ goes global as powerful men confronted
The explosive revelations about Harvey Weinstein that rocked Hollywood and sparked a flurry of sexual harassment, assault or misconduct allegations in other American industries, as well as the political arena, are reaching far beyond just the United States borders. Emboldened by the women, and men, who have spoken up in America, the “Weinstein Effect” is rippling across the globe.
Postal Service: Red ink for 11th year in row as mail slumps
WASHINGTON (AP) — The beleaguered U.S. Postal Service is reporting a financial loss for the 11th straight year, citing declining mail volume and costs of its pension and health care obligations. It is pleading for more freedom to raise stamp prices to help keep pace with consumer demand for ever-quicker package deliveries. The 2017 loss came after a double-digit increase in package delivery was unable to offset drop-offs in letter mail, which makes up more than 70 percent of total postal revenue.
The Standard & Poor’s 500 index fell 5.97 points, or 0.2 percent, to 2,578.87. The Dow Jones industrial average lost 30.23 points, or 0.1 percent, to 23,409.47. The Nasdaq composite shed 19.72 points, or 0.3 percent, to 6,737.87. The Russell 2000 index of smaller-company stocks dipped 3.81 points, or 0.3 percent, to 1,471.26.
Benchmark U.S. crude fell $1.06, or 1.9 percent, to settle at $55.70 a barrel in New York. That’s the biggest single-day decline in a month. Brent crude, used to price international oils, declined 95 cents, or 1.5 percent, to close at $61.21 a barrel in London. Wholesale gasoline gave up 3 cents to $1.76 a gallon. Heating oil fell 3 cents to $1.91 a gallon. Natural gas slid 7 cents to $3.10 per 1,000 cubic feet.
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