USA Today - 17.10.2019

USA TODAY z THURSDAY, OCTOBER 17, 2019 z SECTION B

INDEX CLOSE CHG

Dow Jones Industrial Avg. 27,001.98 y 22.

S&P 500 2,989.69 y 5.

Nasdaq composite 8,124.18 y 24.

T-note, 10-year yield 1.744 y 0.

SOURCESUSA TODAY RESEARCH, BLOOMBERG

Dow Jones Industrial Avg.

24,

26,

27,

28,

AP APRIL OCT.

25,
-22.

27,

WEDNESDAY’S MARKETS

SEPT. RETAIL SALES DIP FOR

FIRST TIME SINCE FEBRUARY

Retail sales fell 0.3% last month, the

largest amount in seven months. It

follows a 0.6% gain in August, the

Commerce Department reported

Wednesday. It was the first decline

since a 0.5% drop in February.

BANK OF AMERICA’S PROFITS

DROP 19% IN THIRD QUARTER

Bank of America’s third quarter profits

fell 19% from a year ago as the bank

wrote down the value of its joint ven-

ture payment processor First Data.

The bank reported a profit of $5.

billion down from $7.2 billion in the

same period a year earlier.

EU REGULATORS SEEK

CHANGES FROM BROADCOM

European regulators on Wednesday

ordered Broadcom to change the way

it does business. EU antitrust chief

Margrethe Vestager said her depart-

ment had “strong indications” that the

chipmaker is “engaging in anticompet-

itive practices.” by including terms of

exclusivity in contracts with six cus-

tomers that violate competition rules.

Jeepers! Blue emoji is no Jeep

Apple iPhone drops vehicle image after outcry. 2B

Doing business in the Trump era

Picking causes, not politics, may be wise course. 3B

Across the nation

News from every state.4B

IN MONEY

STATES

USA & MAIN

JEEP BRAND

MONEYLINE

This Last Year

week week ago

6-month 0.56% 0.58% 0.44%

1-year 0.80% 0.81% 0.79%

2 1 ⁄ 2 -year 0.85% 0.86% 1.00%

5-year 1.16% 1.16% 1.36%

SOURCE: BANKRATE.COM

CD yields

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General Motors and the United Auto

Workers reached a proposed tentative

agreement on a new contract Wed-

nesday that could end a monthlong

strike.

Workers were told to remain on the

picket line at least until the union’s Na-

tional GM Council reviews the propos-

al Thursday and decides whether to

submit it to members for ratification.

Details about many provisions were

not immediately available, though the

Free Press learned that workers would

get bonuses of more than $9,000 upon

ratification of the deal. GM had said

workers will not pay more for health

care, preserving one of the best health

plans in the nation.

More information about GM’s

pledges on U.S. production, job num-

bers and pay increases, key points in the

negotiations, were not immediately

known. The Free Press had reported

UAW Local 598 president Ryan Buchalski meets strikers at General Motors Flint Assembly.RYAN GARZA/USA TODAY NETWORK

GM and UAW reach

a tentative agreement

Approval of pact could

end monthlong strike

Jamie L. LaReau

Detroit Free Press

USA TODAY NETWORK

See STRIKE, Page 2B

“The number one

priority of the national

negotiation team has

been to secure a strong

and fair contract that

our members deserve.”

Terry Dittes

UAW Vice President and director of the

UAW GM Department

Iowa farm and renewable fuel groups

say a proposal that the U.S. Environ-

mental Protection Agency released

Tuesday fails to keep President Donald

Trump’s promise to boost the sagging

market for ethanol and biodiesel.

“We had a deal with the president ...

but what the EPA rolled out isn’t that

deal,” said Monte Shaw, the Iowa Re-

newable Fuels Association’s executive

director.

Jim Greif, president of the Iowa Corn

Growers Association, said his group “is

outraged” that the EPA’s proposal Tues-

day doesn’t reflect what the administra-

tion outlined “only 11 days ago.”

On Oct. 4, the EPA said it would begin

accounting for the reduction in demand

for corn-based ethanol and soybean-

based biodiesel that resulted when the

administration granted some refineries

exemptions from a federal mandate

called the Renewable Fuel Standard.

The law, known as RFS, outlines how

many gallons of ethanol and biodiesel

that oil refiners must blend into the na-

tion’s fuel supply each year.

The EPA said Tuesday it plans to use

Farm groups slam EPA’s

renewable fuels plan

Corn at Siouxland Energy

Cooperative flows into a truck Oct. 2;

it will be sold elsewhere while the

plant outside Sioux Center, Iowa, sits

idle.KELSEY KREMER/USA TODAY NETWORK

Donnelle Eller

Des Moines Register

USA TODAY NETWORK

See FUEL, Page 2B