Business Highlights

___Prime Minister May says she’ll step down if Brexit deal OK’dLONDON (AP) — British Prime Minister Theresa May has told Conservative lawmakers she will step down once her European Union divorce is delivered. That’s a concession meant to bring enough of her colleagues on board to push her deal over the line. May told a party meeting of lawmakers that she was aware of a desire for a new approach and new leadership in the next phase of the Brexit negotiations.___Facebook extends ban on hate speech to ‘white nationalists’SAN FRANCISCO (AP) — Facebook is extending its ban on hate speech to prohibit the promotion and support of white nationalism and white separatism. The company previously allowed such material even though it has long banned “white supremacists.” The social network says it hadn’t applied its ban to expressions of white nationalism because it previously linked such expressions with broader concepts of nationalism and separatism — such as American pride or Basque separatism, both of which are still allowed.___FAA to revamp oversight after 2 deadly Boeing crashesWASHINGTON (AP) — The Federal Aviation Administration plans to revamp oversight of airplane development after the two deadly Boeing crashes raised questions of whether the FAA has gone too far in letting companies regulate themselves. That’s according to testimony from a Transportation Department official at a Senate hearing Wednesday. For decades, the FAA has delegated some authority for certifying new aircraft to the manufacturers themselves.___Abuse case shows few rules protect kids in online videosPHOENIX (AP) — Family video blogs have become a multimillion-dollar industry, but child labour laws that apply to Hollywood actors aren’t enforced online. An Arizona woman has been indicted this week on charges of abusing her children who appeared in popular YouTube videos. The case has raised concerns about the legal protections and ethical quandaries surrounding children who appear in money-making videos.___US stocks stumble, erasing some of the prior day’s gainsTechnology and health care companies drove a broad slide in U.S. stocks late Wednesday afternoon, erasing some of the market’s solid gains from a day earlier. The sell-off, which followed a wobbly start for the market, put the Dow Jones Industrial Average on track to end the month with a small loss. The yield on the benchmark 10-year Treasury note continued to decline. Chipmakers were among the big technology sector decliners.___Trump team and China seek elusive deal as latest talks nearWASHINGTON (AP) — The Trump administration and Chinese officials will hold their eight round of trade talks later this week in Beijing with several tough issues yet to be resolved, from a timetable for lifting tariffs to how to enforce any agreement. It’s unclear how far any agreement would go to address the long-standing Chinese trade practices that are at the heart of the conflict — from forced handover of foreign technology secrets to outright cyber-theft — and that the administration has said must end.___House Democrats likely to punt on budgetWASHINGTON (AP) — House Budget Committee Chairman John Yarmuth says he’s “not very hopeful” about passing a budget plan through the House this year. There are divisions between progressives seeking more money for domestic programs and more moderate lawmakers in swing districts who fear being attacked on tax hikes. Instead, Democrats are focusing on a measure that would permit the annual spending bills, which represent the one-third of the budget that Congress passes each year, to get underway.___Stories of loss and anxiety emerge in Colorado’s oil debateDENVER (AP) — Colorado’s long-running battle over oil and gas drilling in suburban neighbourhoods has erupted again, and the stakes are deeply personal. State lawmakers are debating stronger regulations for the industry and have heard from residents worried about health risks and oilfield workers concerned about their livelihoods. Democrats are pushing a bill that would fundamentally shift regulators’ role from promoting production to protecting public safety and the environment.___Saudi Aramco acquires $69B stake in petrochemical firm SABICSaudi Aramco has purchased a 70 per cent share in petrochemical firm SABIC for $69.1 billion in a deal that pumps capital to the kingdom’s sovereign wealth fund. Aramco says it acquired the majority stake in SABIC from the Public Investment Fund in a private transaction, leaving the remaining 30 per cent of SABIC’s publicly traded shares untouched.___Mired in business feuds, Avenatti now faces fraud chargesLOS ANGELES (AP) — Prominent lawyer Michael Avenatti was already being sued for his business practices before federal charges were announced against him. The Southern California lawyer best known for representing porn actress Stormy Daniels against President Trump testified in his own defence in a civil case last week. Avenatti denied pocketing $1.6 million from a client. At the same time, federal authorities were including that claim in criminal charges against him. Avenatti says he’ll be exonerated.___The S&P 500 dropped 13.09 points, or 0.5 per cent, to 2,805.37. The Dow slid 32.14 points, or 0.1 per cent, to 25,625.59. The Nasdaq composite lost 48.15 points, or 0.6 per cent, to 7,643.38. The Russell 2000 index of smaller company stocks gave up 5.93 points, or 0.4 per cent, to 1,522.23.The Associated Press

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