Blog: Stocks close higher, Brexit negotiations suspended, GM on EV – KVIA El Paso

Biz/Tech

NEW YORK (AP) — Stocks ended higher, shaking off a weak start and nearly erasing the S&P’s losses for the week. The index gained 14.08 points or 0.4% to 3,581.87.0 today. Major indexes had wavered for much of the day as Wall Street’s tug of war continues between worries about the worsening pandemic, higher unemployment numbers and optimism that a vaccine will come soon. The Dow added 44.81 points, or 0.2%, to 29,483.23. The Nasdaq composite climbed 103.11 points, or 0.9%, to 11,904.71. The Russell 2000 index picked up 14.82 points, or 0.8%, 1,784.13.

BRUSSELS (AP) — The Brexit trade negotiations have been suspended at a crucial stage because an EU negotiator has tested positive for the coronavirus. Talks among lower-ranking officials would continue in the meantime. Any long suspension of talks will make it even tougher for the negotiators to clinch a deal ahead of the Jan. 1 deadline. U.K. Prime Minister Boris Johnson was hospitalized with COVID-19 in April and is currently back in quarantine.

DETROIT (AP) — General Motors says a pending breakthrough in battery chemistry will cut the price of its electric vehicles so they equal those powered by gasoline within five years. The technology also will increase the range per charge to as high as 450 miles. The company’s product development chief promised a small electric SUV that will cost under $30,000 and pledged to roll out 30 battery-powered models worldwide by 2025. Nearly all current electric vehicles cost more than $30,000. The announcement illustrates how fast electric vehicle technology is moving and shows that it may become the primary fuel for transportation faster than expected.

DETROIT (AP )— The U.S. government’s road safety agency is asking for public comment on how it should regulate safe deployment of self-driving vehicles. Seeking public comment is an early step in drawing up possible regulations, but that process takes years and could be changed by the incoming administration of President-elect Joe Biden. So far the National Highway Traffic Safety Administration has taken a voluntary approach to autonomous vehicles without standards and regulations. That has brought criticism from the National Transportation Safety Board and safety advocates for being too hands-off.

IOWA CITY, IOWA (AP) — Tyson Foods has suspended top officials at its largest pork plant and launched an investigation into allegations that they bet on how many workers would get infected during a widespread coronavirus outbreak. Tyson Foods President and CEO Dean Banks said today that he was “extremely upset” about the allegations against managers at its plant in Waterloo, Iowa, saying they do not represent the company’s values. He says the Arkansas-based company has retained the law firm of Covington & Burling LLP to conduct an investigation, which will be led by former U.S. Attorney General Eric Holder. He says if the claims are confirmed, that they’ll take all measures necessary to root out and remove this disturbing behavior from the company.

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