Business Highlights – ABC News



Apple, Qualcomm settle bitter dispute over iPhone technology

SAN FRANCISCO (AP) — Apple and mobile chip maker Qualcomm have settled a bitter financial dispute centered on some of the technology that enables iPhones to connect to the internet. The surprise truce announced Tuesday came just as the former allies turned antagonists were facing off in a federal court trial that was supposed to unfold over the next month in San Diego. Apple had been seeking at least $1 billion while Qualcomm was seeking $7 billion for unpaid royalties for the use of its technology.


Netflix adds 9.6M subscribers in 1Q as competition heats up

SAN FRANCISCO (AP) — Netflix posted stronger-than-expected subscriber growth in the first quarter, although its forecast for the current quarter disappointed investors. The strong quarter coincided with the video streaming service’s biggest U.S. price increases and emerging streaming challenges from Walt Disney and Apple, two of the world’s most popular brands. Netflix now has nearly 149 million subscribers.


After years of crisis, Venezuelans wonder what is ‘normal’

CARACAS, Venezuela (AP) — Normalcy elsewhere in the world doesn’t fit Venezuela, where two men say they are president and the worst nationwide blackouts played havoc with the lives of millions. Talk in the South American country of what is normal, or should be normal, is touching nerves as the opposition tries to topple President Nicolas Maduro.


New Samsung handset: Innovation hinges on folding screen

LONDON (AP) — When Samsung said this year it would launch a smartphone with a folding screen, the big question was whether the innovation was something people actually wanted or needed. The South Korean electronics company on Tuesday offered the media a hands-on preview ahead of the release in the U.S. this month of the Galaxy Fold. The first impression is that a folding screen in some circumstances might be a useful innovation — but at a cost of almost $2,000 it won’t be a mass market product anytime soon.


Trump to allow suits over US properties seized in Cuba

WASHINGTON (AP) — President Donald Trump is poised to allow lawsuits against foreign firms that have profited from former U.S. firms that Cuba seized after the 1959 revolution. The move marks a change in more than two decades of U.S. policy on Cuba. A senior Trump administration official provided details of the shift, speaking on condition of anonymity ahead of the official announcement.


Turkey eyes US sanctions waivers on Iran oil, Russia arms

WASHINGTON (AP) — A top aide to Turkey’s president says his country “expects” the Trump administration to grant it waivers from U.S. sanctions related to purchases of Iranian oil and Russian air defenses. Presidential spokesman Ibrahim Kalin says he can’t be certain the waivers will be granted. But, he says Turkey has made a strong case for each that should be heeded.


Electric car makers woo Chinese buyers with range, features

SHANGHAI (AP) — Two of China’s biggest state-owned automakers have unveiled electric vehicle models at the Shanghai auto show that they said can travel 600 kilometers (370 miles) on one charge, or nearly double the range of global competitors. Automakers were showcasing electric SUVs and sedans with longer range and luxury features Tuesday, trying to appeal to Chinese buyers as Beijing slashes subsidies that helped to launch the industry.


Mining project on federal lands hires former Interior head

WASHINGTON (AP) — Ryan Zinke, the former Trump Cabinet official in charge of the country’s natural resources, has landed a more than $100,000-a-year job with a Nevada gold-mining firm. Zinke confirmed by phone Tuesday he has accepted a consulting and board position with U.S. Gold Corp., a company with business before Zinke’s former agency, the Interior Department.


UnitedHealth beats expectations all around, stock still lags

NEW YORK (AP) — UnitedHealth Group beat first-quarter expectations and hiked its 2019 forecast, but shares of the nation’s largest health insurer continued their slump as investors worry about growing Congressional scrutiny of how the company and its competitors do business.


French tycoons show competitive streak over Notre Dame aid

PARIS (AP) — Two of France’s richest men, long locked in a very public rivalry, are once again pitted against each other — this time over flashy and competing donations to rebuild Notre Dame. Billionaire luxury tycoons — Bernard Arnault, 70, and Francois Pinault, 82 — are among France’s fiercest business competitors and patrons. On Tuesday, their rivalry reached new heights when each pledged millions of euros’ worth of donations to finance Notre Dame’s restoration.


Banks lead US stocks to slight gains amid mixed earnings

NEW YORK (AP) — Stocks closed slightly higher on Wall Street Tuesday, erasing the market’s modest losses from a day earlier. The gains, which followed a rally in overseas stock indexes, came as investors sized up the latest batch of company earnings reports. Financial stocks led the way higher as bond yields rose. Qualcomm notched its best day in 20 years after the chipmaker and Apple settled a legal dispute. Investors are looking to the latest wave of corporate earnings reports over the next few weeks.


The S&P 500 rose 1.48 points, or 0.1%, to 2,907.06. The Dow Jones Industrial Average gained 67.89 points, or 0.3%, to 26,452.66. The Nasdaq composite added 24.21 points, or 0.3%, to 8,000.23. The Russell 2000 index of small-cap stocks picked up 3.62 points, or 0.2%, to 1,582.79.

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