ST. LOUIS (AP) — A St. Louis jury has ruled that Ford Motor Co. and other companies should pay a Missouri family $6 million over allegations that a woman’s death was caused by a exposure to asbestos, including dust generated during brake repair. Linda Behling of Springfield died of mesothelioma at age 70 in 2019. Her family’s lawsuit cited years of work by Behling and her husband at Springfield-area manufacturing companies. The jurors sided with the Behling family on Monday night. The family’s attorneys alleged that Ford failed to warn the public that asbestos was present in the dust created during the brake repairs. Ford’s attorneys say the family failed to prove that brake dust contributed to his illness.
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Ships sail after grain deal with Russia exits, but future uncertain
LONDON (AP) — Ships laden with grain have left Ukraine despite Russia suspending its participation in a UN-brokered deal that guarantees the safe wartime passage of essential food supplies. The UN said on Tuesday that three ships carrying maize, wheat and sunflower meal departed through a humanitarian maritime corridor set up in July. A total of 14 ships also sailed on Monday after Russia’s weekend of the grain deal ended. But future deliveries are uncertain after the UN said the ships would not move on Wednesday. Turkey is trying to broker a resolution. Analysts say Russia is likely using its withdrawal as a bargaining chip to get what it wants out of the deal, such as smoothing the way for its fertilizer exports.
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Political wrangling over climate risks in investments escalates
ST. PAUL, Minnesota (AP) — The political fight is only heating up over whether it’s financially wise or “woke” madness to consider a company’s impact on climate change, workers’ rights and other problems during investments. Republicans from North Dakota to Texas are stepping up their criticism of so-called “ESG investing,” a fast-growing movement that says it can pay dividends for addressing environmental, social and governance issues in the world. when deciding where to invest pension funds and other public funds. At the same time, Democrats in traditionally blue states like Minnesota are considering making ESG principles an even bigger part of their investment strategies.
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Strong RSV vaccine data raises hope after years of futility
A new study suggests that vaccinating pregnant women protects their newborn babies against the common but frightening respiratory virus called RSV. The virus is a nuisance for most healthy people, but it can be serious for babies and the elderly. Efforts to create a vaccine have failed for decades, but some recent promising studies give hope that we might finally be getting closer. Pfizer on Tuesday announced preliminary results for its pregnancy vaccine, a vaccine it has also successfully tested in the elderly. Rival GSK has also reported success with its vaccine version in the elderly.
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Job openings hit 10.7 million despite Fed attempts to cool economy
WASHINGTON (AP) — U.S. job openings rose unexpectedly in September, suggesting that the U.S. labor market is not cooling as fast as inflation fighters at the Federal Reserve hoped. Employers posted 10.7 million job openings in September, up from 10.2 million in August, the Labor Department said Tuesday. Economists had expected the number of job vacancies to fall below 10 million. Over the past two years, as the economy rebounded from the COVID-19 recession in 2020, employers complained that they could not find enough workers
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Key question as Fed meets this week: when to slow rate hikes?
WASHINGTON (AP) — The Federal Reserve could reach a turning point this week by announcing what is expected to be another substantial three-quarter point hike in its key interest rate — its fourth straight. Fed officials are likely to engage in a heated debate over whether it will soon be time to slow its rate hikes, which aim to rein in the worst inflation in four decades but also raise the risk of a recession. At a press conference Wednesday after the Fed’s latest meeting, Chairman Jerome Powell could signal an upcoming shift to lower rate hikes. This would give authorities time to assess the impact of the hikes.
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Musk floats paid Twitter audit and fires board
Billionaire Elon Musk is already announcing major changes for Twitter as he enters his first week as owner of the social media platform. One proposal would charge some users if they want to keep a blue tick on their profile. Twitter has always used the mark to verify high-profile accounts, including Musk’s, so other users know it’s really them. Critics have derided the brand as an elite status symbol. Musk has invited a group of friends and investors from across the tech world to help guide the San Francisco-based company’s transformation, which will likely include a reshuffle of its staff.
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Uber sees few signs of customers withdrawing despite inflation
Uber shares rise after the company said there was little evidence Americans were giving up on hailing rides or ordering food deliveries despite soaring inflation. The company said Tuesday it expects fourth-quarter gross bookings to increase 23% to 27% from a year ago. Uber shares, down nearly 30% this year, jumped 15%. In the last quarter, gross bookings increased 26% to $29.1 billion. San Francisco’s ride-hailing service has struggled during the pandemic amid shutdowns, but has thrived with the rollout of vaccinations as Americans head back to work, head out into town or stay home and order dinner at a restaurant .
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Airbnb posts $1.2 billion in Q3 profit as revenue jumps 29%
Airbnb announces a profit of $1.2 billion for the third quarter but gives a cautious outlook for the fourth quarter. The short-term rental company said on Tuesday that demand for short-term rentals remained strong despite economic uncertainty. Airbnb shares have been under pressure this year, falling more than 30% since January despite the resumption of travel. Airbnb’s challenges include consumers cutting back on discretionary spending like travel due to rising food and gas prices. Its users also complain more about Airbnb’s high fees. CEO says overhauling Airbnb’s pricing structure is a top priority.
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The S&P 500 fell 15.88 points, or 0.4%, to 3,856.10. The Dow Jones Industrial Average fell 79.75 points, or 0.2%, to 32,653.20. The Nasdaq fell 97.30 points, or 0.9%, to 10,890.85. The Russell 2000 Small Business Index rose 4.53 points, or 0.2%, to 1,851.39.
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