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Aug 17, 5:16 PM EDT

Business Highlights


Tech companies banishing extremists after Charlottesville

NEW YORK (AP) - It took bloodshed in Charlottesville to get tech companies to do what civil rights groups have been calling for for years: take a firmer stand against accounts used to promote hate and violence. In the wake of the deadly clash last weekend in Virginia, major companies such as Google, Facebook and PayPal are banishing a growing number of extremist groups and individuals for violating service terms.


Starbucks founder questions country's 'moral fiber'

SEATTLE (AP) - Starbucks founder and chairman Howard Schultz says that the events surrounding a white nationalist rally in Charlottesville, Virginia, last weekend have put the "moral fiber" of the country in question. His comments came in an employee forum Tuesday in the wake of last weekend's deadly violence in Charlottesville.


New Ford CEO says company will balance present with future

DETROIT (AP) - The new CEO of Ford Motor Co. says the company isn't taking its eyes off the present as it prepares for transportation in the future. Jim Hackett says new mobility projects such as buying a shuttle company and the purchase of an artificial intelligence startup have not taken money from car and truck development.


Cleveland Clinic will pull event from Mar-a-Lago resort

COLUMBUS, Ohio (AP) - A leading U.S. hospital says it will pull an annual fundraiser from Donald Trump's Mar-a-Lago resort after all. The Cleveland Clinic had initially resisted pressure from health professionals and others over the Republican president's support for repealing the Affordable Care Act and cutting federal budget dollars to medical research. The clinic said Thursday it made the decision to pull the event after "careful consideration" of various issues, but it didn't elaborate.


Lawsuit: Poland Spring Water is committing 'colossal fraud'

A lawsuit claims that Poland Spring Water is deceiving consumers with evergreen labels that say their bottle contains "100 percent natural spring water" that hails from Maine. A Nestle Waters representative says the water meets all relevant federal and state regulations for spring water. The lawsuit filed Tuesday in federal court in Connecticut comes as the company embarks on an expansion in Maine amid rising demand for bottled water.


LL Bean boosting production of iconic boot

LEWISTON, Maine (AP) - L.L. Bean is hoping to give the boot to backlogs of its most iconic product. The Maine-based retailer plans to expand production to keep up with demand for its leather-and-rubber boot with a new manufacturing center unveiled Thursday. The company hopes to make 750,000 pairs of boots this year, and to hit the 1 million mark in 2018.


Trump isolation growing as business panels dismantled

NEW YORK (AP) - President Donald Trump has scrapped two of his White House business councils, following the resignations of several company CEOs from one panel, and the decision by members of the other panel to disband. Business leaders on the Manufacturing Council & Strategy & Policy Forum have openly criticized Trump's remarks laying blame for weekend violence in Charlottesville, Virginia, on white supremacists and counter-protesters.


EpiPen maker finalizes settlement for government overcharges

EpiPen maker Mylan has finalized a $465 million government agreement settling allegations it overbilled Medicaid for its emergency allergy injectors for a decade - charges brought after rival Sanofi filed a whistleblower lawsuit and tipped off the government.


Tense days for business owners without legal status in US

MIAMI (AP) - A growing number of business owners without legal residency in the United States are scrambling to get their affairs in order amid a crackdown on illegal immigration under President Donald Trump. As many as 10 percent of the 11 million or so immigrants in the country illegally own such businesses by some estimates. Many are selling their enterprises, transferring them to relatives or closing down to avoid a total loss if they are deported. Says one entrepreneur: "Everything we built is coming down."


Walmart's online sales soar as it seeks to catch Amazon

NEW YORK (AP) - Walmart's recent spending spree to try to compete better with Amazon seems to be paying off. The company says online sales soared 60 percent in the past three months as people shopped more at, and its other websites. Walmart has been buying up online brands to build its internet business. It paid more than $3 billion for Jet last year, and has since picked up smaller players like ModCloth and Moosejaw.


The Standard & Poor's 500 index dropped 38.10 points, or 1.5 percent, to 2,430.01, its lowest close since July 11. The Dow Jones industrial average tumbled 274.14 points, or 1.2 percent, to 21,750.73. The Nasdaq composite sank 123.19 points, or 1.9 percent, to 6,221.91.

Benchmark U.S. crude rose 31 cents to $47.09 a barrel in New York. Brent crude, used to price international oils, added 76 cents, or 1.5 percent, to $51.03 a barrel in London. Wholesale gasoline added 2 cents to $1.59 per gallon. Heating oil picked up 1 cent to $1.58 a gallon. Natural gas gained 4 cents to $2.93 per 1,000 cubic feet.

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