NEW YORK (AP) — Stocks are slipping for a second straight day in afternoon trading on Wall Street. Among the things on investors’ minds are Home Depot’s confirmation that hackers broke into its in-store payment systems, and the latest products being unveiled by Apple.
CUPERTINO, Calif. (AP) — Apple has unveiled a smartwatch that marks the company’s first major entry in a new product category since the iPad’s debut in 2010. The move is significant because of recent questions about whether Apple still has a knack for innovating following the 2011 death of co-founder Steve Jobs. The device’s introduction today upstaged the company’s two new, larger iPhones. The new phones won’t just have bigger screens; they’ll have a new, horizontal viewing mode to take advantage of the larger display.
NEW YORK (AP) — Nike is severing its business ties to Ray Rice, a day after he was let go by the Baltimore Ravens and suspended indefinitely by the NFL following the release of a video showing him striking the woman he later married. And video game publisher Electronic Arts says it will scrub all traces of his image from the Madden ’15 game, the oldest and most popular football video game franchise.
WASHINGTON (AP) — The number of U.S. job openings remained near the highest level in 13 years in July, and companies also stepped up hiring to the fastest pace in nearly seven years. The Labor Department says that available jobs ticked down 2,000 to 4.67 million in July. The drop was led by a decline in government job postings. Businesses actually posted slightly more jobs. Total hiring jumped 81,000 to 4.87 million, the highest level since December 2007.
NEW YORK (AP) — A new study finds that exporting more U.S. oil around the world would lower the price of gasoline for U.S. drivers and benefit the nation’s economy. The theory is that it would encourage more U.S. oil production and put that crude on the global market, lowering the global price of oil. The study conducted for the Brookings Institution by NERA Economic Consulting calculates that pump prices would fall by 8 cents to 12 cents per gallon on average, depending on how much oil is ultimately found and when restrictions on exports are lifted.
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