Business & Real Estate

Business Highlights

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Capitol Hill hearing on online hate sees it firsthand

WASHINGTON (AP) — A congressional hearing on online hate turned into a vivid demonstration of the problem when a YouTube livestream of the proceedings was bombarded with racist and anti-Semitic comments. YouTube disabled the live chat section of the streaming video about 30 minutes into the hearing Tuesday. Executives from Google and Facebook are appearing before the House Judiciary Committee, defending their companies' efforts to screen out hate speech.

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France softens stance ahead of May plea for new Brexit delay

BRUSSELS (AP) — Chances that Britain would crash out of the EU Friday without any future plan appear to be shrinking. Tough-guy France softened its stance and showed willingness to accept yet another delay in the long-awaited Brexit. But British Prime Minister Theresa May still has a rough day ahead of her at an EU summit Wednesday.

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Airbnb reverses, will allow listings in Israeli settlements

SAN FRANCISCO (AP) — Airbnb is rescinding its plan to bar listings in Israeli settlements in the West Bank. The company says it has decided to allow listings throughout the entire West Bank, but will donate any of its profits from the region to humanitarian aid organizations.

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Mnuchin says he'll 'follow the law' on Trump tax returns

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin said Tuesday that his department intends to "follow the law" and is reviewing a request by a top House Democrat to provide President Donald Trump's tax returns to lawmakers. But in Capitol Hill appearances Tuesday, Mnuchin dodged over whether he would comply with the request to supply Trump's tax returns by Wednesday and he also said he has not promised to authorize the IRS to supply the returns.

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Putin outlines ambitious Arctic expansion program

ST. PETERSBURG, Russia (AP) — President Vladimir Putin has put forward an ambitious program to secure Russia's foothold in the Arctic, including efforts to build new ports and other infrastructure facilities and expand an icebreaker fleet. Putin says that Russia plans to dramatically increase cargo shipments across the Arctic sea route. The Russian leader was speaking at the Arctic forum in St. Petersburg attended by leaders of Finland, Iceland, Norway and Sweden.

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Boeing orders and deliveries tumble as Max jet is grounded

DALLAS (AP) — Boeing got zero orders and fewer deliveries for its 737 Max plane in March. The Max, the latest version of Boeing's most popular plane, remains grounded worldwide while the company works on a software update to fix a system suspected in two deadly crashes. Separately, American Airlines is cutting a key revenue estimate after canceling 1,200 flights because of grounded planes.

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Loughlin, husband, others hit with money laundering charge

BOSTON (AP) — Attorneys for the parents charged with money laundering conspiracy in the college admissions case are accusing prosecutors of trying to get their case in front of a tough judge. Prosecutors on Tuesday called their letter "inappropriate" and a "Hail Mary." The exchange came after federal prosecutors added the laundering charge to the list of accusations facing actress Lori Loughlin, her fashion designer husband, Mossimo Giannulli, and 14 other parents.

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Publisher of iconic black magazines files for bankruptcy

CHICAGO (AP) — Johnson Publishing Co., publisher of two iconic magazines, Ebony and Jet, that helped changed the image of black people portrayed by U.S. media, has filed for bankruptcy liquidation in a federal court in Chicago. In announcing the petition filed Tuesday, the company said it was "caught in a tidal wave of marketplace changes and business issues which, despite exhaustive efforts, could not be overcome."

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Levi's fiscal 1Q revenue up 7% in first post-IPO report.

NEW YORK (AP) — Levi Strauss & Co. swung to a profit and reported a nearly 7% increase in net revenue during the company's fiscal first quarter, an indication the jeans maker's investments online and in its denim products are paying off. Tuesday's earnings report marked Levi's first since its return to the public markets last month. Levi's stock got an enthusiastic reception from investors but it has retreated since then. The stock rose, however, in after-hours trading following the earnings report.

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US stocks close lower, ending 8-day win streak for S&P 500

NEW YORK (AP) — Industrial companies led a broad slide in stocks on Wall Street Tuesday, ending the benchmark S&P 500's eight-day winning streak. The sell-off came as traders weighed growing trade tensions between the U.S. and the European Union, and a report forecasting dimmer global economic growth this year. Banks and technology companies also lost ground. Smaller company stocks fell more than the rest of the market. Bond prices rose, sending yields lower. The price of gold rose.

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