NEWS-04
earnings sent stocks on Wall Street lower. The Dow lost ninety-nine points,
the S&P fell twelve, the NASDAQ finished thirty-seven points lower.>
On the CBS MoneyWatch, an airbag recall doubles in size. Yep. And YouTube gets into the online TV subscription business. Jill Wagner is at the New York Stock Exchange. Good morning, Jill.
JILL WAGNER: Good morning, Anne-Marie. Signs of weakness in the job market and some disappointing corporate earnings sent stocks on Wall Street lower. The Dow lost ninety-nine points, the S&P fell twelve, the NASDAQ finished thirty-seven points lower.
The largest auto recall in U.S. history got even bigger. The National Highway Traffic Safety Administration is adding forty million airbags to the ongoing recall by a Japanese manufacturer, Takata. The airbags can explode with too much force. They are responsible for at least eleven deaths. The government has a website, www.safercar.gov. It will eventually allow you to see if your car or truck is on the list.
Next Monday, General Motors plans to reopen four North American plants that had been shut down because of supply shortages caused by last month`s earthquakes in Japan. Last month`s quakes in southwest Japan killed forty- nine people. They shut down manufacturing. The plants are located in Tennessee, Ohio, Kansas and Canada.
Electric carmaker Tesla has big plans. Tesla says it is increasing production for its Model 3 mass market sedan with plans to manufacture five hundred thousand cars in 2018. Tesla wants to become a high-volume automaker. Tesla expects to deliver about ninety thousand cars this year.
An offer by Gannett to buy Tribune Publishing for more than three hundred and eighty-eight million dollars has been rejected. Tribune owns the L.A. Times, The Chicago Tribune, and other newspapers. Gannett, owner of USA Today, wanted to expand its network. But Tribune says the offer understates its value, in other words, not enough money.
And YouTube could be working on a paid subscription TV service. Bloomberg reports the news service will be called Unplugged. It would offer customers a bundle of cable channels streamed over the internet. The new service is expected to start as soon as next year. Anne-Marie.
ANNE-MARIE GREEN: Interesting option. Who knows, it might work. Jill Wagner at the New York Stock Exchange. Thanks a lot, Jill.
Still to come, hitching a ride with carpool karaoke. Singer Gwen Stefani belts out hits with James Corden and two huge stars provide backup in the back seat.
(Gwen Stefani, James Corden, Julia Roberts, George Clooney singing; The Late Late Show)
(ANNOUNCEMENTS)
(Gwen Stefani, James Corden, Julia Roberts, George Clooney singing; The Late Late Show)
ANNE-MARIE GREEN: James Corden brought his A-game and he brought his A-list friends for last night`s carpool karaoke. Gwen Stefani rode shotgun with George Clooney and Julia Roberts on backup vocals in the back seat. Doesn`t George look like he doesn`t exactly know the words? He`s sort of faking his way through this. I don`t know.
Well, a nifty little play in the MLB is getting some second looks this morning. In the Cubs-Pirates game, pitcher Jon Lester fielded a grounder with a ball. The ball was actually caught up in the webbing on his mitt. So Lester slid the glove off of his hand and then he lobbed it over to first. But the good hands weren`t just Lester`s. First baseman Anthony Rizzo had to drop his own glove to catch Lester`s and make the out.
JANEY WATKINS: All of a sudden, this guy just whammed into the building.
(Crowd screaming)
ANNE-MARIE GREEN: The fiery seconds after an SUV rammed a diner caught on video. The driver and three others were hospitalized yesterday after the incident in suburban Washington. The driver was identified as a diner employee.
This is the CBS MORNING NEWS.
(ANNOUNCEMENTS)
ANNE-MARIE GREEN: Here`s another look at this morning`s top stories. A state of emergency has been declared in the western Canadian province of Alberta. An out-of-control wildfire that forced the evacuation of an entire city--some eighty thousand people--has destroyed at least sixteen hundred buildings. So far, no one has been injured. But entire neighborhoods in Fort McMurray have been burned to the ground.
And now that John Kasich has ended his campaign, Donald Trump is the only Republican running for president. Trump has set his sights on beating Hillary Clinton and is considering whom to choose as a running mate. Trump did not rule out John Kasich.
Well, baby kissing is standard stuff for political candidates, but Hillary Clinton took it to a whole other level yesterday.
HILLARY CLINTON (Reginald Darby): What`s her name?
WOMAN (Reginald Darby): Norah (ph).
ANNE-MARIE GREEN: Mrs. Clinton encountered the baby during a reception in Washington, DC, and did a little dancing there.
END
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