WASHINGTON | US industrial output tumbled 0.6 percent in January

WASHINGTON | US industrial output tumbled 0.6 percent in January

WASHINGTON (AP) — U.S. industrial production fell 0.6 percent in January, stemming in large part from an 8.8 percent plunge in the making of motor vehicles and auto parts.

The Federal Reserve said Friday that that the manufacturing component of the index dropped 0.9 percent last month, reversing a 0.8 percent gain in December. Over the past 12 months, factory production has increased just 2.9 percent. Manufacturing of wood products, computers, electrical equipment, apparel and chemicals also fell in January.

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PURCHASE, N.Y. | PepsiCo moves to profit in 4Q, sees tax benefit

PURCHASE, N.Y. | PepsiCo moves to profit in 4Q, sees tax benefit

PURCHASE, N.Y. (AP) — PepsiCo moved to a profit in its fourth quarter, getting a boost from a large tax benefit as sales in its Frito-Lay unit North America strengthened.

Shares rose $2.36, or 2.1 percent, to $114.95 in Friday morning trading.

The food and beverage company recorded a $5.3 billion tax benefit in the quarter, which included reorganizing its international operations. A year earlier it had a tax expense of $2.5 billion.

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PARIS | French yellow vest figure on trial, new protests planned

PARIS | French yellow vest figure on trial, new protests planned

PARIS (AP) — A prominent figure of the French yellow vests has gone on trial in Paris for allegedly organizing illegal demonstrations, as the movement prepares for a 14th consecutive weekend of protests.

Eric Drouet was arrested for organizing demonstrations on Dec. 22 and Jan. 2 in Paris without declaring them to authorities.

He acknowledged he didn’t follow the rule, saying Friday he doesn’t consider himself a protest organizer.

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MOLINE, Ill. | Deere, hit on both sides of trade war, posts weak 1Q earns

MOLINE, Ill. | Deere, hit on both sides of trade war, posts weak 1Q earns

MOLINE, Ill. (AP) — Deere & Co., a manufacturer that faces threats from both ends of a trade war, cited rising costs and anxious farmers as it reported a profit shortfall for the first quarter Friday.

Shares bounced back from sharp premarket declines, however, on a relatively strong outlook, and hopes that tensions with China will recede.

The U.S. and China will continue to try to hash out trade differences next week in Washington after two days of talks wrapped up Friday in Beijing.

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LONDON | Fashion world descends on London for fashion week shows

LONDON | Fashion world descends on London for fashion week shows

LONDON (AP) — London is taking its turn in the style spotlight with the opening of London Fashion Week, an extravaganza that will feature up-and-coming young designers along with big names like Victoria Beckham, Vivienne Westwood and Burberry.

More than 100 catwalk shows are scheduled along with countless crowded, fizzy parties and dozens of presentations.

BORA AKSU
The London-based Turkish designer used his catwalk show Friday to display a series of layered, asymmetrical dresses in quiet shades of white, cream and soft blue.

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SAN FRANCISCO | Amazon’s stormy week will blow over, but debris will stay

SAN FRANCISCO | Amazon’s stormy week will blow over, but debris will stay

SAN FRANCISCO (AP) — It’s been a complicated few weeks for Amazon, what with its abrupt pullout from a massive New York City development, extortion claims related to intimate photos taken by its founder Jeff Bezos and increasing antitrust scrutiny in Europe .

For now, these events seem unlikely to pose much threat to Amazon’s brand or business. But they’re indicative of the mounting challenges the e-commerce giant faces as it grows ever larger and more dominant.

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WASHINGTON | Ex-Cognizant execs accused of bribing Indian officials

WASHINGTON | Ex-Cognizant execs accused of bribing Indian officials

WASHINGTON (AP) — The Justice Department alleges that two former executives for Cognizant Technology Solutions paid about $2 million in bribes to Indian officials to build a new office campus in the country.

Prosecutors said Friday that the information technology giant’s former president, Gordon Coburn, and ex-chief legal officer, Steven Schwartz, were charged in a 12-count indictment unsealed in New Jersey.

They allege Coburn and Schwartz authorized the bribes and concealed it by having a third-party construction company make the payment.

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LISBON, Portugal | Portuguese govt faces no-confidence vote over public workers

LISBON, Portugal | Portuguese govt faces no-confidence vote over public workers

LISBON, Portugal (AP) — A conservative party in Portugal’s parliament is issuing a no-confidence vote in the minority Socialist government, but the motion is likely to fail because left-of-center parties are expected to join together against it.

The Popular Party announced Friday it’s taking the step to protest the government’s handling of public services, especially health, education and police, and its failure to negotiate agreements with public workers.

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NEW YORK | Trade talk optimism pushes stocks higher in midday trading

NEW YORK | Trade talk optimism pushes stocks higher in midday trading

NEW YORK (AP) — Plans by the U.S. and China to extend key trade talks drove stocks broadly higher in midday trading Friday.

The gains mark a turnaround after the market ended lower Thursday following a disappointing holiday sales report. The S&P 500 index had risen the previous four trading days.

China’s government said negotiators will meet in Washington next week for more talks aimed at ending the trade war between the world’s largest economies.

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NEW YORK | Markets Right Now: Stocks higher, boosted by trade talks

NEW YORK | Markets Right Now: Stocks higher, boosted by trade talks

NEW YORK (AP) — The latest on developments in financial markets (all times local):

11:50 a.m.
Stocks are higher on Wall Street at midday after Chinese and U.S. officials agreed to continue trade talks in Washington next week.
Investors are again weighing quarterly results from major U.S. companies. Newell shares are plunging 19 percent after saying the loss of retailer Babies R Us is hurting sales.

Nvidia is up 3.4 percent after the chipmaker’s fourth-quarter profit and outlook for the current year beat Wall Street forecasts.

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