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AP News | Equities.com |

Stocks shook off another bout of volatile trading and finished solidly higher Friday, led by gains in technology and health care companies. Despite the rally, the S&P 500 still posted its fourth straight weekly loss, extending Wall Street’s September swoon.

The S&P 500 rose 1.6% after flip-flopping between small gains and losses a few times in the early going. Stocks have been erratic this month, with indexes setting new highs to start the month and then falling sharply as investors worried that values for some of technology giants had risen too high.

The benchmark index ended the week with a 0.6% loss for its first four-week losing streak in more than a year. The index is now down 5.8% for September, following five straight months of gains.


Reuters | Equities.com |

Twitter Inc Chief Executive Jack Dorsey said on Friday the social media platform plans to expand its labeling of state-affiliated accounts worldwide, even as he defended its policy of allowing leaders of countries like Iran and China to use Twitter.

During the virtual Oslo Freedom Forum, hosted by New York-based nonprofit the Human Rights Foundation, Dorsey said Twitter would label accounts in more countries to give users more context for informa...


Reuters | Equities.com |

EU antitrust chief Margrethe Vestager on Friday appealed a court ruling dismissing her order to iPhone maker Apple to pay 13 billion euros ($15 billion) in Irish back taxes, a landmark case in the European Commission’s crackdown against sweetheart tax deals.

The Luxembourg-based General Court in July scrapped the Commission’s 2016 ruling, saying that EU competition enforcers had not met the requisite legal standard to show that Apple had enjoyed an unfair advantage.


Reuters | Equities.com |

PARIS (Reuters) - Boeing’s grounded 737 MAX could receive regulatory approval to resume flying in November and enter service by the end of the year, Europe’s chief aviation safety regulator said on Friday.

“For the first time in a year and a half I can say there’s an end in sight to work on the MAX,” said Patrick Ky, executive director of the European Union Aviation Safety Agency (EASA).

EASA expects to lift its technical ban “not long” after the U.S. Federal...


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France’s richest man Bernard Arnault ratcheted up a tug-of-war over Paris Match publisher Lagardère on Thursday, revealing he had built up a direct stake in the firm, which is under siege from several other investors.

Loss-making Lagardère has become the unlikely target of a proxy battle between some of France’s top businessmen, after the firm’s managers sought help to fend off a campaign by activist investor Amber Capital to shake up the company’s governance.

New investors came on board as a result, including Vincent Bolloré, another French billionaire who controls media firm Vivendi.


Reuters | Equities.com |

Attorneys for Bayer AG and consumers suing the company over allegations its Roundup weedkiller caused cancer told a judge on Thursday they are continuing to resolve thousands more cases, improving prospects for its $11 billion deal to end the litigation.

The hearing was a contrast to the contentious tone among the parties last month that raised concerns the framework deal might unravel.

Ken Feinberg, who is mediating talks, said his “optimism knows no bounds,” and that he expected the next set of cases scheduled for trial to soon settle.

U.S. District Judge Vince Chhabria in San Francisco kept a stay on litigation until Nov. 2 and asked the parties for a status update at that time.


Reuters | Equities.com |

(Reuters) - Costco Wholesale Corp recorded high coronavirus-related costs for the second straight quarter, overshadowing its better-than-expected results and sending the company's shares down 3% in extended trading on Thursday.

The warehouse chain spent about $281 million on employee bonuses and sanitizing its warehouses in the fourth quarter, mirroring a trend of rising costs across U.S. retailers during the health crisis.

Costco had estimated in May that COVID-19-related costs would exceed $100 million, but would be lower than the $283 million incurred in the prior quarter.

“$281 million is over $100 million but quite a bit larger,” Chief Financial Officer Richard Galanti said on an earnings call.

The company cited the $2-an-hour premium paid to employees as a factor for the jump in costs. The bonus costs Costco $14 million a week.


AP News | Equities.com |

Stocks eked out modest gains Thursday even as volatility continued to be the dominant force in Wall Street’s tumultuous September.

The S&P 500 rose 0.3% after earlier swinging between a loss of 0.9% and a gain of 1.3%. The market notched widespread gains, though technology stocks powered much of the turnaround. Out of the S&P 500′s 11 sectors, only health care ended the day lower.

The market’s momentum has shifted with lightning speed recently, often changing direction by the hour. On Wednesday, the S&P 500 rose to a modest gain when trading began, only to end the day with a 2.4% slump. The benchmark index is now down 9.3% from its record set on Sept. 2 and on pace for its first monthly decline after a five-month rally.


Reuters | Equities.com |

Target Corp said on Thursday it would double its staff for contactless services and hire more seasonal employees for distribution centers this holiday season, as consumers shop more online to avoid crowds during the COVID-19 pandemic.

The company, one of the retailers benefiting from the big shift to online shopping during the health crisis, said it expected seasonal hiring to be on par with last year, when it hired more than 130,000 store employees.

Consumer...


Reuters | Equities.com |

A group of Apple Inc’s critics - including Spotify Technology SA, Match Group Inc and “Fortnite” creator Epic Games - have joined a nonprofit group that plans to advocate for legal and regulatory action to challenge the iPhone maker’s App Store practices.

Apple charges a commission of between 15%-30% for apps that use its in-app payment system and sets out extensive rules that apps must comply with to appear in its App Store, which is the only way Apple allows consumers to download native apps onto devices such as the iPhone.