Business Briefs – July 6, 2017

QVC Parent Buying HSN as Shopping Shifts Online

NEW YORK (AP) – QVC and Home Shopping Network, two of the most well-known home-shopping hubs, are combining further as they look at aggressive growth by Amazon and consumer shopping habits shifting to internet-based retail. Liberty Interactive Corp., which owns QVC and already owns 38 percent of HSN, will buy the rest of Home Shopping Network for about $2.6 billion in a stock deal.

Tesla, for Now, Loses Spot as Most Valuable Carmaker in U.S.

PALO ALTO (AP) – After three months as the nation’s most valuable automaker, a bad week in an otherwise stellar year has knocked Tesla from the top perch as the nation’s most valuable automaker. Its growth remains stellar, with shares soaring close to 50 percent this year, twice that at GM, which retook the top spot Thursday. But a trifecta of bad news in recent days, starting with a tweet from Tesla CEO Elon Musk, has delivered the worst week for the electric automaker’s stock since early 2016.

19 AGs Sue DeVos for Delaying For-Profit College Rules

Democratic attorneys general in 18 states and the District of Columbia are suing Education Secretary Betsy DeVos over her decision to suspend rules meant to protect students from abuses by for-profit colleges. The lawsuit, filed Thursday in Washington, demands implementation of rules that aim to make schools financially responsible for fraud and forbid them from forcing students to resolve complaints outside court.

States Sue Over EPA’s Decision To Keep Pesticide On Market

WASHINGTON (AP) – Several states are seeking to join a legal challenge to a Trump administration decision to keep a widely used pesticide on the market despite studies showing it can harm children’s brains. Led by New York, the coalition filed a motion Wednesday to intervene in a legal fight over the continued spraying of chlorpyrifos on food.

China Trade With North Korea Up But Imports Off

BEIJING (AP) – China’s trade with North Korea has risen despite Beijing’s promise to enforce U.N. sanctions over the North’s nuclear program, but Chinese imports from North Korea are down. China buys coal, a revenue source for the isolated North, but North Korea runs a large trade deficit because it imports Chinese oil and consumer goods.

Painkiller Maker Stops Sales at FDA Request Because of Abuse

The maker of painkiller Opana ER is pulling the drug off the market. The move comes a month after U.S. regulators asked the company to stop selling it because it was being abused. Endo International PLC said Thursday it will voluntarily stop selling the pills, approved for use in patients with severe, constant pain. The company says the extended-release drug is safe and effective when used as intended.

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