Business Highlights: Anchors away at Fox, CNN
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Tucker Carlson, Fox News’ most popular host, out at network
NEW YORK (AP) — Fox News says it has agreed to part ways with Tucker Carlson, less than a week after settling a lawsuit over the network’s 2020 election reporting. The network said in a press release Monday that the popular and controversial prime-time host’s last program aired on Friday. Carlson became Fox’s most popular personality after replacing Bill O’Reilly in Fox’s prime-time lineup in 2017. He’s also consistently drawn headlines for controversial coverage, including most recently airing tapes from the Jan. 6 Capitol insurrection to minimize the impact of the deadly attack. There was no immediate explanation from Fox about why Carlson was leaving.
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Appeals court upholds Apple’s control of iPhone app store
An appeals court has upheld Apple’s exclusive control over the distribution of iPhone apps. In its ruling Monday, the court rejected the latest attempt to force one of the world’s most powerful companies to dismantle the digital walls protecting its most lucrative product. The 92-page decision issued by the U.S. Ninth Circuit Court of Appeals largely affirmed the findings of a lower-court judge who presided over a 2021 trial revolving around an antitrust lawsuit filed by Epic Games, the maker of the popular Fortnite video game. The lawsuit alleged the iPhone app store had turned into illegal monopoly that stifles innovation and competition.
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Don Lemon fired from CNN after divisive morning show run
Longtime CNN host Don Lemon has been fired by the cable news network a little over two months after apologizing to viewers for on-air comments about Republican presidential candidate Nikki Haley. CNN announced Lemon’s departure Monday. The host said in a Twitter post that he was stunned by the move and said he was informed by his agent. Lemon had been with the cable news network for 17 years. CNN did not provide a public explanation for Lemon’s departure. In mid-February, Lemon drew widespread condemnation for saying the 51-year-old Haley was not “in her prime” and later said he regretted the comment.
___ Famous Twitter users disavow Musk over verification return
Celebrities, professional athletes and other high-profile Twitter users are once again being verified by the social media platform and they don’t know why the blue check marks reappeared — nor do they seem too happy about it. Twitter removed the blue check icons last week from accounts that don’t pay the new $8 monthly fee, but the marks mysteriously returned over the weekend for many highly followed accounts. Some users, including rapper Lil Nas X, are disavowing what’s become a divisive symbol of Twitter owner Elon Musk’s erratic changes to the platform, posting that they didn’t pay to get their blue check back.
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Cities reviving downtowns by converting offices to housing
NEW YORK (AP) — A growing number of developers are considering converting empty office towers into housing as part of an effort to revive struggling downtown business districts that emptied out during the pandemic. Many politicians see these conversions as a potential catalyst to bringing new housing to these dormant neighborhoods and, with that, restaurants, shops and other businesses serving these new residents. Some also see a chance to diversify neighborhoods with much-needed housing that is affordable to low- and middle-income residents. Conversion projects are underway in cities like New York, Washington, Pittsburgh and Dallas.
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Bank rates are up. How to avoid leaving money on the table
NEW YORK (AP) — After years of paying low rates for savers, banks are finally offering better interest on deposits. Moving your savings around by opening a new account and closing an old one can seem like a hassle, but it’s a use of time that can pay off. As the Federal Reserve has raised interest rates to try to cool inflation, some banks have improved their terms for savers as well. Even if you’re only keeping modest savings in your bank account, you could make more significant gains over the long term by finding an account with a better rate.
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Did Ed Sheeran hit pilfer Marvin Gaye classic? Trial to tell
NEW YORK (AP) — Jury selection has begun in a trial that mashes up Ed Sheeran’s “Thinking Out Loud” with Marvin Gaye’s “Let’s Get It On.” The heirs of Gaye’s co-writer of the 1973 soul classic, Ed Townsend, are suing Sheeran in a trial that started in Manhattan federal court Monday. They say Sheeran’s 2014 hit is so similar to “Let’s Get It On” that it violates copyright. Sheeran is among the witnesses expected to testify. His lawyers say the similarities are simply the basic chord progressions and song structures behind much of pop music.
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Speaker McCarthy faces big test as debt bill heads for vote
WASHINGTON (AP) — Speaker Kevin McCarthy is hurtling toward one of the most consequential weeks of the new House Republican majority. He is laboring to pass a partisan package that would raise the nation’s debt limit by $1.5 trillion in exchange for steep cuts some in his own party oppose. Votes are expected later this week. The political stakes are sky-high for McCarthy. He is trying to entice President Joe Biden to the negotiating table. The nation is teetering toward a debt default crisis, needing to lift the borrowing cap to keep paying the bills in a matter of weeks.
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Coke’s strong quarter fueled by higher prices, China rebound
Coca-Cola reported higher-than-expected sales in the first quarter as it continued to hike prices and saw its business in China improve. Coke said its revenue rose 5% to $11 billion for the January-March period. That beat Wall Street’s expectations. Coke said pricing and mix __ which includes changes in package sizes __ contributed 11% to its revenue growth while concentrate sales rose 1%. The company said it’s offering more promotions for buyers at the lower end but also expanding premium offerings, like cocktail mixers. Coke said sales in China have begun to rebound, but remain lower than pre-pandemic levels.
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The S&P 500 rose 3.52 points, or 0.1%, to 4,137.04. The Dow Jones Industrial Average rose 66.44 points, or 0.2%, to 33,875.40. The Nasdaq composite fell 35.25 points, or 0.3% to 12,037.20. The Russell 2000 index of smaller companies fell 2.63 points, or 0.1%, to 1,788.87.