End of an era: Toys R Us is going the way of stickball
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NEW YORK (AP) — For decades, children ran down the sprawling aisles of Toys R Us in awe of the Barbies, the bikes and other toys laid out in front of them. Parents lined up for the latest Christmas fad, even if it meant standing in the rain. But all of that looks as if it's coming to an end. Toys R Us is going out of business in the U.S.
Complaint claims Trump lawyers threatened Panama magistrate
PANAMA CITY (AP) — According to a complaint filed with the anti-corruption division of Panama's chief prosecutor, lawyers for President Donald Trump's family hotel business threatened a Panamanian judicial official handling a business dispute related to Trump Hotels' management of a 70-story luxury hotel. Trump's lawyers dispute the claims. Trump's team was eventually evicted from the hotel, which was stripped of his name and reopened under new management. But the fighting continues in court.
US Chamber of Commerce warns Trump against China tariffs
WASHINGTON (AP) — America's largest business lobby is warning President Donald Trump against slapping big tariffs on Chinese imports. The U.S. Chamber of Commerce is sounding the alarm as the White House weighs whether to punish China for forcing U.S. companies to hand technology to Chinese companies.
Trump again wrongly says US has trade deficit with Canada
WASHINGTON (AP) — President Donald Trump is sticking with his claim that the United States has a trade deficit with Canada. Trump tweeted Thursday morning, "We do have a Trade Deficit with Canada." This follows reports that he claimed at a fundraiser this week that he talked trade with Canadian Prime Minister Justin Trudeau without knowing all the facts. The U.S. has a trade surplus with Canada.
Surge in airline hiring boosts interest in aspiring pilots
DALLAS (AP) — Major U.S. airlines are hiring pilots at a rate not seen since before 9/11, and that is encouraging more young people to consider a career in the cockpit. Hiring is likely to remain brisk for years. Smaller airlines in the U.S. are struggling with a shortage that will continue as they lose pilots to the bigger carriers, which in turn will need to replace thousands of retiring pilots over the next few years. Aircraft maker Boeing predicts that the U.S. will need 117,000 new pilots by 2036. Just a decade ago thousands of pilots were furloughed and some abandoned the profession.
Radio giant iHeartMedia files bankruptcy plan to reduce debt
NEW YORK (AP) — IHeartMedia, one of the world's largest radio companies, has filed for Chapter 11 bankruptcy protection as part of an agreement with its lenders to reduce debt. The company formerly known as Clear Channel Communications says it will operate its businesses as usual while it restructures its finances to reduce debt by more than $10 billion. It took on the debt when it went private in 2008.
Pot tourists can smoke it where they buy it in San Francisco
SAN FRANCISCO (AP) — Marijuana enthusiasts are finding it increasingly easy to legally buy pot, but they still have a hard time locating a place to legally smoke it. Consuming marijuana in public is illegal even in states that have broadly legalized its use. And most hotels, restaurants and bars ban it as well. San Francisco is a notable exception. The city is embracing Amsterdam-like marijuana shops.
FDA begins push to cut addictive nicotine in cigarettes
WASHINGTON (AP) — Federal health officials are taking the first step to drastically cut nicotine levels in cigarettes so they aren't addictive. The Food and Drug Administration estimated Thursday that its plan could push the U.S. smoking rate to about 1 percent. But the process of regulating nicotine levels is expected to take years to implement and could be challenged by industry.
US stocks end mostly lower as midday gains slip away
NEW YORK (AP) — U.S. stocks mostly take losses as smaller companies, drugstores and packaged food companies finish lower. Industrial and technology companies rise. Monsanto falls following a report that its sale to Bayer faces more scrutiny. Hasbro and Mattel slip as Toys R Us moves to liquidate its U.S. business.
The Standard & Poor's 500 index fell 2.15 points, or 0.1 percent, to 2,747.33. The Dow Jones industrial average added 115.54 points, or 0.5 percent, to 24,873.66. The Nasdaq composite lost 15.07 points, or 0.2 percent, to 7,481.74. The Russell 2000 index of smaller-company stocks slid 7.69 points, or 0.5 percent, to 1,576.62.
Benchmark U.S. crude added 23 cents to $61.19 a barrel in New York. Brent crude, used to price international oils, rose 23 cents to $65.12 per barrel in London. Wholesale gasoline remained at $1.92 a gallon. Heating oil rose 1 cent to $1.89 a gallon. Natural gas fell 5 cents to $2.68 per 1,000 cubic feet.