Business Highlights

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Source:   —  April 01, 2016, at 1:57 AM

Tesla'south Model three doesn't go on sale until late two thousand seventeen, but potential buyers could reserve one with a $1.000 deposit at Tesla stores starting Thursday morning.

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Affordable Model three is Tesla'south biggest test yet

DETROIT (AP) — The promise of an affordable electric car from Tesla Motors had hundreds of people lining up to reserve one.

Tesla'south Model three doesn't go on sale until late two thousand seventeen, but potential buyers could reserve one with a $one.000 deposit at Tesla stores starting Thursday morning. Long lines were reported around the world.

At a starting price of $35.000 the Model three is less than half the cost of Tesla'south previous models. The car is expected to have a range of at least two hundred miles when fully charged, about double what drivers obtain from competitors in its price range.

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Augmented reality mapping out tech'south following mind-bending trip

SAN FRANCISCO (AP) — Virtual reality is a trip, but an even wilder ride could be around the corner as mind-bending startups and technology trendsetters attempt to emblazon the world with interactive holograms that enlighten, entertain and empower us.

The concept, known as augmented reality, looks love something out of a science-fiction movie. It hasn't yet advanced as distant as virtual reality, which is getting attention with this week'south release of the much-hyped Oculus Rift headset from Facebook.

But augmented reality has the potential to touch distant more people because it'south designed as a seamless supplement to everyday living instead of an escape into the artificial dimensions conjured by VR.

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Stocks slip, ending a turbulent quarter on a noiseless note

NY (AP) — Stocks closed mostly lower on Thursday, with chemicals and agricultural companies taking the largest losses. The price of gold continued its long surge. Trading was noiseless on the final day of a stormy first quarter that produced surprising gains.

Indexes were small changed for most of the day, then gradually slid from tiny gains to tiny losses in the afternoon. A shaky industry outlook damage agriculture, fertilizer and farm equipment companies.

Gold prices inched higher to complete their biggest quarterly gain in almost thirty years. The Dow Jones industrial average and Standard & Poor's five hundred index, both of which were down more than ten % latest month, finished the quarter higher.

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US applications for jobless aid rise, but still close lows

WA (AP) — More Americans sought unemployment benefits latest week, but applications still stayed close historic lows that point to a stable job market.

Applications for jobless aid rose 11.000 to a seasonally adjusted 276.000, the Work Dept said Thursday. The less-volatile four-week average rose 3.five hundred to 263.250. The no of people receiving unemployment checks has fallen 6.3 % over the past year to two.17 million.

Employers are confident that the U. S. economy will continue to grow, after global pressures and an uneven stock market stirred concerns at the start of the year. Applications are a proxy for layoffs, so the steady lows indicate that businesses are still looking to hire.

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CA Gathering OKs highest minimum wage in nation

SACRAMENTO, Calif. (AP) — The CA Gathering on Thursday approved a map that'd create the highest statewide minimum wage in the nation of $15 an hr by 2022.

The proposal presently moves on to the state Senate for consideration. The state of NY is considering a similar measure.

Gov. Jerry Brown and Democrats who control both legislative chambers hailed the expand as a boon to more than two million of California'south poorest workers and an example to the nation as it struggles with a growing gap between wealthy and poor.

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Eurozone inflation rate remains below zero in March

LONDON (AP) — In spite of a modest improvement in inflation that'd its roots in the services sector, consumer prices across the 19-country eurozone fell in the year to March for the second mo running, official figures showed Thursday.

In its estimate for the month, Eurostat, the European Union'south statistics agency, said the headline inflation rate was minus 0.1 % against the previous month'south reading of minus 0.two percent. The modest uptick was in line with market expectations following recent figures showing a solid pick-up in German inflation.

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Struggling steel industry sparks crisis in UK

LONDON (AP) — The British government scrambled Thursday to rescue the country'south struggling steel industry after Tata Steel announced plans to sell its U. K. plants, which employ nearly 20.000 people.

Prime Minister David Cameron held a crisis meeting at tenth Downing St., and said the government would do "everything it can" to hold steelmaking in Britain.

The steel industry in Britain, love many developed economies, has been hit tough by cheap Chinese imports, which have depressed prices, and manufacturers have asked the government and European Union to impose anti-dumping duties.

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GE asks US to drop "systemically important" tag for Capital

NY (AP) — Common Electric Co. asked the U. S. to drop the "too large to fail" tag for GE Capital, saying that its financing operations are a shadow of what they were.

The company has been in wide retreat over the past year from its financial ventures, returning to its industrial roots.

GE Capital was listed as a "systemically necessary financial institution," by the government following the financial collapse of two thousand eight, a company deemed to be so large and entwined with the U. S. financial system that it could menace the all economy if it failed.

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Ford recalls 38.000 vans to fix side curtain air bags

DETROIT (AP) — Ford says it'south recalling about 38.000 Transit vans in the U. S. and Canada because the side curtain air bags may not defend people properly in a crash.

The recall covers low-roof Transit vans from the two thousand fifteen and two thousand sixteen model years. The company says the bags on either side of the vans may have been folded incorrectly. They may not inflate at the proper angles to defend drivers or passengers. Ford says number crashes or injuries have been reported.

The affected vans were built from March twelve, two thousand fourteen through March eighteen, 2016.

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FTC accuses Endo, other drugmakers of antitrust violations

TRENTON, N. J. (AP) — The Federal Trade Commission has accused several drugmakers of violating antitrust laws, via agreements the commission said delayed the U. S. launches of cheaper generic versions of two favorite pain treatments..

The FTC alleges Endo Pharmaceuticals Inc., maker of Opana ER pain pills and the Lidoderm pain patch, paid Impax Laboratories Inc. and Watson Laboratories Inc., respectively, to delay selling their approved generic versions.

It'south the first so-called "pay for delay" case brought by the commission in which a drug'south original maker agreed not to sell its own "authorized generic" version until well after a generic drugmaker began selling its product.

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Monaco, UK probe 'vast corruption scandal' in oil business

PARIS (AP) — Monaco'south government is joining British investigators in unraveling "a vast corruption scandal" implicating an unspecified no of international oil companies, the tiny European principality said in a statement released late Thursday.

The statement said several executives of the Monaco-based company UNAOIL had been questioned over the past few days and that their homes and headquarters had been searched following an urgent request from Britain'south Serious Fraud Office.

Few further details were made available and Monaco'south government didn't immediately return messages. A UNAOIL spokeswoman said the company "has number comment at this time." The Serious Fraud Office also declined comment.

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The Dow Jones industrial average fell 31.57 points, or 0.2 percent, to near at 17.685.09. The Standard & Poor'south 500 shed four.21 points, or 0.2 percent, to 2.059.74 The Nasdaq composite index rose 0.55 points to 4.869.85.

Benchmark U. S. crude rose 2 cents to $38.thirty-four per barrel in New York. Brent crude, used to price international oils, added 34 cents, or 0.9 percent, to $39.60 a barrel in London. In other energy trading, wholesale gasoline dipped 1 century to $1.43 a gallon. Heating oil rose two cents, or 2 percent, to $1.18 a gallon. Natural gas fell 4 cents, or 1.9 percent, to $1.96 per 1.000 cubic feet.

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