NEW YORK (AP) — Stocks are mostly unchanged in morning trading on Wall Street. But Kate Spade is bucking the trend. The maker of premium handbags has seen its shares spike as much as 10 percent this morning after reporting earnings and revenue that came in well ahead of what analysts were forecasting. The Dow, S&P 500 and the Nasdaq composite have all been moving between small gains and losses.
LONDON (AP) — Weak economic data from Germany has European stock indexes sagging today. A survey of investment analysts shows confidence in Germany’s economy falling to a 20-month low. Fears about a possible escalation of the crisis in Ukraine have weighed on German business confidence in recent weeks, though one analyst says the near-term risk “does not change the fundamentally positive outlook” for Germany and the 18-country eurozone as a whole.
DETROIT (AP) — Record-setting rainfall and flooding in the Detroit area is slowing vehicle production for Chrysler and Ford. Four Chrysler plants were flooded yesterday, and one remains closed this morning. Road closings are also slowing deliveries and keeping many workers from showing up. Chrysler says it does expect to resume normal production by the end of the day. Ford says its plants are running normally again this morning after a slowdown yesterday.
ATLANTIC CITY, N.J. (AP) — Atlantic City’s Revel Casino Hotel says it will shut down in September after failing to find a buyer in bankruptcy court. The $2.4 billion casino opened just over two years ago, and never turned a profit. It will be the second of four Atlantic City casinos to shut down this year as the resort city’s gambling market continues to crumble. The city started this year with 12 casinos.
DAYTON, Ohio (AP) — Dayton International Airport in Ohio is experimenting with a new, gentler way to prevent potentially deadly collisions between birds and planes. Officials are planning to plant tall prairie grass on 300 acres in the airports takeoff and landing paths. The thinking is that heavy birds like geese, which cause the most damage to planes, avoid long grasses because they fear predators might be hiding in them. The FAA estimates engine damage from bird strikes costs the industry $950 million a year.
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