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Facebook and other big tech stocks rally as US indexes climb
(AP Photo - Richard Drew)
By MARLEY JAY
From Associated Press
April 26, 2018 3:22 PM EST

NEW YORK (AP) — U.S. stocks are climbing Thursday as Facebook leads a rally by technology companies. The social media platform jumped after its recent data privacy scandal didn't appear to affect business in the first quarter. Retailers rallied as well. The market moved higher and interest rates decreased after a government survey showed business investment decreased in March, which might discourage the Federal Reserve from raising interest rates faster than investors would like.

SALEM, Ore. (AP) — To the beat of electronic dance music, men and women inside a slate-gray building harvested marijuana plants festooned with radio-frequency identification tags.

LONDON (AP) — Prosecutors have dropped charges against two Canadian pilots accused of preparing to fly a commercial aircraft while under the influence of alcohol after their blood samples were mistakenly destroyed at a Scottish prison.

NEW YORK (AP) — Investors have been uneasy since stocks dived 10 percent in just nine days in early February. The market has seen big losses and big gains since, mostly driven by a trade dispute between the U.S.

LONDON (AP) — The U.K. parliament's media committee demanded Facebook CEO Mark Zuckerberg appear before the panel after lawmakers said the senior executive who testified Thursday failed to fully answer their questions about the data protection scandal that has engulfed the company.

WASHINGTON (AP) — Long-term U.S. mortgage rates continued to climb this week, reaching their highest level in more than four years and denting prospective home purchasers' prospects amid the spring buying season.

WASHINGTON (AP) — Orders for long-lasting manufactured goods rose 2.6 percent in March, but a key category that tracks business investment spending fell for the third month out of the past four.

FRANKFURT, Germany (AP) — The head of the European Central Bank says recent signs of weakening economic growth are grounds for caution but not worrisome enough yet to consider changing the bank's stimulus and interest rate policy.

DALLAS (AP) — Southwest Airlines says bookings are down since the fatal accident on one of its planes last week. The company said Thursday that it expects revenue per mile, which tracks average prices, will drop between 1 percent and 3 percent in the April-through-June quarter.

You're looking at a $1,200 repair estimate for your ailing car when an ad catches your eye: a brand new set of wheels for a mere $450 a month.

HONG KONG (AP) — World stock markets were mostly higher Thursday as investors digested the latest corporate earnings and awaited comment from the head of the European Central Bank.

ATHENS, Greece (AP) — Greece should emerge from its third and final bailout in a few months' time without the need for a backup loan from its creditors, European Commission President Jean-Claude Juncker said Thursday.

TOKYO (AP) — Nintendo Co. reported solid sales and profit for the fiscal fourth quarter, powered by brisk demand for its Switch machines.

FRANKFURT, Germany (AP) — Deutsche Bank will take another step back from its decades-long global expansion, announcing Thursday that it will focus its investment banking business more on Europe and reduce operations in the U.S.

SHANGHAI (AP) — Walt Disney Co. used the expansion of its $5.5 billion Disney Resort in Shanghai on Thursday to highlight its deep China connections despite worsening trade tensions between Washington and Beijing.

BEIJING (AP) — China appealed to Washington on Thursday to avoid damaging business confidence following a report that U.S. authorities are investigating whether Chinese tech giant Huawei violated sanctions on Iran amid spiraling technology tensions.

CANBERRA, Australia (AP) — Ford Motor Co.'s Australian subsidiary has been fined 10 million Australian dollars ($7.6 million) for mishandling customer complaints about faulty automatic transmissions in thousands of cars.

SEOUL, South Korea (AP) — Hyundai Motor said Thursday that its first-quarter profit plunged to its lowest level in more than eight years as sales dwindled in the United States and China.

DEARBORN, Mich. (AP) — Ford Motor Co. said Wednesday it will shed most of its North American car lineup as part of broad plan to save money and make the company more competitive in a fast-changing marketplace.

LONDON (AP) — Energy company Royal Dutch Shell says first-quarter earnings rose 67 percent, boosted by a rebound in oil prices and growth in its natural gas business.

HONG KONG (AP) — Asian share benchmarks were mixed on Thursday as investors digested the latest quarterly corporate earnings. KEEPING SCORE: Japan's benchmark Nikkei 225 index climbed 0.5 percent to 22,315.79 and South Korea's Kospi jumped 1.3 percent to 2,481.70 after Samsung reported better than expected earnings.

SEOUL, South Korea (AP) — Samsung Electronics Co. reported better-than-expected financial results Thursday as robust demand from global data centers for its mainstay memory chips earned it another record-high quarterly profit.

CARACAS, Venezuela (AP) — ConocoPhillips said Wednesday that it won a $2 billion arbitration award against Venezuela's state oil company, compounding the financial woes of the socialist-run nation as it struggles to feed its population.

PHOENIX (AP) — The E. coli outbreak linked to tainted romaine lettuce has grown and sickened 84 people from 19 states, U.S. health officials said Wednesday.

NEWARK, N.J. (AP) — The widow of maverick automaker John DeLorean has alleged in a lawsuit that a Texas company illegally received money from the "Back to the Future" movies that used his iconic car.