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Business Highlights

The Associated Press

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Auto industry backs commitment to fuel economy amid doubts

DEARBORN, Mich. (AP) -- Just because President Trump may weaken U.S. fuel economy requirements, don't expect gas guzzlers like the giant 13 mpg Hummer H1 to make a comeback. Executives from automakers and suppliers gathered at a conference said looser fuel economy standards might allow for sales of more trucks in areas where they're popular. But otherwise, the pursuit of fuel-efficiency technologies would proceed unabated.

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S&P 500 limps to the finish line in another winning week

NEW YORK (AP) -- U.S. stocks limped into the weekend with mixed results on Friday, but the market nevertheless capped off yet another winning week. Gains for dividend-paying stocks offset drops for banks and health care stocks. The Standard & Poor's 500 index delivered its seventh week of gains in the last eight, following a big rally sparked by the Federal Reserve's announcement on interest rates.

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Wells Fargo CEO: Fixing fake accounts will take more time

NEW YORK (AP) -- Wells Fargo CEO Tim Sloan said the company could need several more months to resolve customer damage tied to its massive sales practices scandal. That includes figuring out if people had trouble getting approved for other loans because of the fake accounts bank employees opened. Speaking with The Associated Press, Sloan reiterated what he has said since becoming CEO in the wake of the scandal, that rebuilding trust with customers is the primary focus.

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NEW YORK (AP) -- Trumpism is slowly taking hold on your phone and computer, as the Federal Communications Commission starts chipping away at hard-fought protections on privacy and competition. These measures, put in place before President Donald Trump took office, had upset the phone and cable industries. The new regime says consumers win if businesses face less regulation and have more incentives to invest.

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Wal-Mart buys online clothing seller ModCloth

NEW YORK (AP) -- Wal-Mart is buying trendy online clothing selling ModCloth. The company has been making a big push to pick up smaller online brands as it tries to make headway against Amazon. But winning over ModCloth's customers, who are fans of its vintage-inspired patterned dresses and inclusive sizing, may be a challenge.

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Slammer sale: Closed prisons are a tough sell, states find

ALBANY, N.Y. (AP) -- States are having a hard time selling places where prisoners have done hard time. Developers say thick-walled cell blocks and dormitories at closed prisons tend to be too expensive to tear down, and too restrictive to turn into viable enterprises. In New York, a mountaintop site in the Adirondacks has sat on the market for a year despite stunning views and other amenities.

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US, global partners wrestle over trade stance

BADEN-BADEN, Germany (AP) -- Top finance officials are debating what stance to take on free trade at a meeting that will help set the tone for the global economy. The gathering of finance ministers and central bank heads from the Group of 20 countries has focused on shifting attitudes toward trade, particularly after U.S. President Donald Trump vowed to impose border taxes and rewrite free trade deals.

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"Soda tax" stakes escalate in pivotal Philadelphia fight

PHILADELPHIA (AP) -- Philadelphia has become a pivotal battleground in the beverage industry's push to stop "soda taxes" from gaining momentum. Since a new tax on sweetened drinks went into effect Jan. 1, a coalition of businesses looking to overturn the tax say sales are down so much they need to cut jobs. Tax supporters question the announcements of layoffs so soon after the tax went into effect, and note beverage distributors and supermarkets aren't required to pass on the entire cost of the tax to shoppers.

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Israeli tech firms revving up engines for self-driving cars

JERUSALEM (AP) -- As the world moves toward an era of self-driving cars, Israel is positioning itself to be the Detroit of the future. The country has emerged as a global leader in the fast-growing field of driverless cars, as illustrated by Intel's more than $15 billion acquisition of Israeli firm Mobileye this week.

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Dallas offers cautionary tale as it moves to fix 911 woes

DALLAS (AP) -- Dallas has been experiencing disruptions in its 911 service that began in October and at one point last week resulted in 360 calls being placed on hold. More dispatchers have been assigned to field 911 calls and technological glitches have been fixed, which should smooth operations, a city spokeswoman said Friday. But the problems plaguing Dallas can be found with other 911 systems that rely on increasingly obsolete networks that are incompatible with new technologies and protocols.

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The Dow Jones industrial average fell 19.93 points, or 0.1 percent, to 20,914.62. The Standard & Poor's 500 index slipped 3.13 points, or 0.1 percent, to 2,378.25. The Nasdaq composite rose 0.24 points, or 0.004 percent, to 5,901.00.

Benchmark U.S. crude rose 3 cents to settle at $48.78 per barrel. Brent crude, which is used to price international oils, rose 2 cents to $51.76 per barrel.

Natural gas rose 5 cents to $2.95 per 1,000 cubic feet. Wholesale gasoline inched up less than a cent to $1.60 per gallon, and heating oil rose a fraction of a penny to $1.51 per gallon.