NEW YORK (AP) — Financial markets in the U.S. have drifted lower in early trading, a day after the Standard & Poor’s 500 index closed above 2,000 points for the first time. Investors bid up shares in Tiffany & Co. after the jewelry company reported earnings that were better than analysts were expecting.
WASHINGTON (AP) — The Congressional Budget Office says the U.S. economy will grow by just 1.5 percent this year — hurt by a poor first-quarter performance. This new assessment is considerably more pessimistic than that of the Obama administration, which predicted last month that the economy would grow 2.6 percent this year.
NEW YORK (AP) — Time Warner Cable says service has been largely restored after a problem that occurred during routine maintenance caused a nationwide outage of its Internet service for hours. The company says it is still investigating the cause of the problem.
PARIS (AP) — The chief of the International Monetary Fund has been placed under official investigation for negligence in a French corruption probe that dates back to her days as France’s finance minister. In a statement, Christine Lagarde says the decision is “without basis.”
DETROIT (AP) — Spiders have forced Suzuki to recall more than 19,000 midsize cars. The automaker says spider webs can clog a fuel vapor vent hose in some 2010 to 2013 Kizashi cars, cutting off air flow. If that happens, it can cause the gas tank to deform, causing cracks, fuel leaks and possible fires.
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