Business

The Hill reports: The White House on Monday said the country’s “long-term economic fundamentals” remain “exceptionally strong” after U.S. stocks dropped sharply earlier in the day, extending a massive sell-off on Wall Street. “The president’s focus is on our long-term economic fundamentals, which remain exceptionally strong,” White House press secretary Sarah Huckabee Sanders said in a statement. Sanders cited U.S. …

Bloomberg reports: The Dow Jones industrial average fell more than 1,000 points Monday, dropping below 25,000 for the first time since Jan. 4 during a second straight day of sell offs. It’s the worst losses the Dow has ever sustained in terms of points, coming on the heels of Friday’s 666-point loss. The Dow has lost its gains for the …

CNN Money reports: Wall Street just suffered the worst day of the Trump presidency. The Dow closed down 666 points, or 2.5%, its biggest percentage decline since the Brexit turmoil in June 2016 and steepest point decline since the 2008 financial crisis. A strong jobs report showed wage growth is finally starting to pick up. That’s great news for workers, …

The New York Daily News reports: Coachella co-owner Philip Anschutz has once again come under scrutiny for bankrolling right-wing, anti-LGBTQ organizations at odds with the progressively minded music festival. A new tax filing shows The Anschutz Foundation donated at least $325,000 between Dec. 2015 and Nov. 2016 to organizations with an explicit anti-LGBTQ mission, which was first reported by Pitchfork. …

The Washington Post reports: The Trump administration has stripped enforcement powers away from Consumer Financial Protection Bureau office that specializes in pursuing cases against financial firms for breaking discrimination laws, according to two people familiar with the matter and emails reviewed by The Washington Post. The move comes about two months after President Trump installed his budget chief Mick Mulvaney …

The Washington Post reports: Amazon is diving into health care, teaming up with Warren Buffett’s Berkshire Hathaway and the New York bank JPMorgan Chase, to create a company that helps their U.S. employees find quality care “at a reasonable cost.” The business giants offered few details Tuesday and said that the project is in the early planning stage. “The ballooning …

The Hill reports: LG Electronics is planning to raise prices on some of its washer and dryer models in response to President Trump’s decision this week to impose hefty new tariffs on imported washing machines. The president on Monday levied tariffs on washers made by LG and Samsung as part of an effort to help U.S. based Whirlpool. “As a …

The New York Times reports: Toys “R” Us is planning to close as many as 182 of its stores as it struggles to reorganize in bankruptcy. The toy chain, which filed for bankruptcy last September, said in a court filing late Tuesday that the stores selected for closing have failed to meet “performance standards.” The planned closings represent about 20 …

“If they made it in Kansas and it cost $5,000, I’m still gonna need it. You’re still gonna need it. That money is then going to support a family in Kansas where you’ve got parents who are going to work. They have the pride of work and they’re able to take care of their family and, guess what, you and …

The Associated Press reports: President Donald Trump is signing a measure Tuesday imposing tariffs on imported solar-energy components and large washing machines in a bid to help U.S. manufacturers. The administration says the decision is part of Trump’s pledge to put American companies and jobs first. The administration is imposing an immediate tariff of 30 percent on most imported solar …

NBC News reports: New York City filed a $500 million lawsuit Tuesday against prescription opioid manufacturers and distributors, seeking to hold them accountable for their alleged part in the city’s drug epidemic. The lawsuit aims to recover expenses the city will incur in combating the crisis. In 2016, more than 1,000 people in New York City died of an opioid …

Variety reports: Rupert Murdoch weighed in on Facebook’s attempts to improve the accuracy of the news its delivers across its global platform — and suggested that what would really work is for the internet giant to follow the model of the pay-TV industry. “If Facebook wants to recognize ‘trusted’ publishers then it should pay those publishers a carriage fee similar …

USA Today reports: After a year of testing with its own employees, Amazon opens its store that lets you browse, grab and walk out — skipping the checkout line, but not the bill — to the public Monday. The convenience store and its proprietary technology, made up of hundreds of cameras and sensors and requiring a new Amazon app, dangled …

Bloomberg reports: The Consumer Financial Protection Bureau is dropping a lawsuit against a group of payday lenders associated with an American Indian tribe in a sign the regulator is changing direction under Mick Mulvaney, the acting director appointed by the Trump administration. The agency had accused the lenders of deceiving consumers and failing to disclose the true cost of the …

Mass Live reports: Pamphlets on sin and Satan were incorrectly sent to a gay couple who had ordered wedding programs, and the flyers were meant for someone else, Vistaprint says. The company, the target of a federal lawsuit filed in Massachusetts, updated a statement issued late Wednesday in which the company said it was investigating the matter. “What we have …

STAT News reports: Health insurer Aetna has agreed to pay $17 million to settle claims that it breached the privacy of thousands of customers who take HIV medications. Attorneys for the plaintiffs announced the settlement Wednesday in Philadelphia. Court documents say the Hartford, Conn.-based company sent a mailing in envelopes with large, clear display windows that revealed confidential HIV information. …

The New York Times reports: Amazon said on Thursday that it had whittled the list of possible homes for its second headquarters down to 20, including centers of technology like Boston as well as some surprise locations like Columbus, Ohio. The company, based in Seattle, selected the finalists out of a pile of more than 238 applications submitted by local …

The New York Daily News reports: A gay couple is suing a printing company for sending them pamphlets about weakness of the flesh and “temptation” instead of the colorful customized wedding programs they ordered. On the eve of their wedding day, Stephen Heasley and Andrew Borg, an Australian couple who were married last year in Pennsylvania, opened a package from …

The Hill reports: Walmart has announced that it will lay off thousands of workers across the country as it closes dozens of Sam’s Club locations. The announcement comes on the same day the retail giant announced it was raising its starting minimum wage for new employees to $11 an hour. The company told Business Insider that 63 Sam’s Club stores …

The Knoxville News Sentinel reports: Dolly Parton’s Pigeon Forge dinner attraction, Dixie Stampede, has a new name. It’s now known as Dolly Parton’s Stampede, according to a news release from World Choice Investments. It also has a location in Branson, Missouri. Parton explained in the press release that the change streamlines the name of the show, will remove any confusion …