Business Briefs – July 17, 2017

No Trump Slump In Tourism But There Could Be A Trump Bump

NEW YORK (AP) — Last winter, the U.S. tourism industry fretted that Trump administration policies might lead to a “Trump slump” in travel.

But those fears may have been premature. International arrivals and travel-related spending are up in 2017 compared with the same period in 2016.

There might even be a “Trump bump,” says Roger Dow, CEO of the U.S. Travel Association, a nonprofit representing the travel industry.

China’s Economic Growth Holds Steady Despite Slowdown Fears

BEIJING (AP) — China’s economic growth held steady in the latest quarter, boosted by unexpectedly strong trade and consumer spending, despite fears tighter lending controls aimed at cooling a surge in debt are weighing on commercial activity.

Output rose 6.9 percent in the three months ending in June from a year ago, data showed Monday. That was in line with the previous quarter and better than many forecasts.

Brexit Talks Begin In Earnest With Citizens’ Rights In Focus

BRUSSELS (AP) — Talks to extricate Britain from the European Union began in earnest Monday with both sides still seemingly far apart on citizens’ rights after Brexit officially takes place in less than two years.

After an initial meeting last month where the structure of the talks was determined, Britain’s Brexit minister, David Davis, met up with the EU’s chief Brexit negotiator in Brussels ahead of four-days of discussions.

Progress on citizens’ rights is one of the three main issues that have to be resolved before the two sides can start talking about a wide-ranging free trade deal, the others being the bill Britain has to pay to meet existing commitments and the border issue in Ireland.

Tesla Driver Recants, Says Autopilot Not to Blame for crash

DETROIT (AP) – A Tesla driver says his car’s partially self-driving Autopilot system wasn’t responsible for a crash in Minnesota, despite what he initially told investigators.

In its police report obtained by The Associated Press on Monday, the Kandiyohi County Sheriff’s Office said David Clark, 58, blamed Autopilot for a crash Saturday evening in Hawick, Minnesota. Clark initially told deputies that when he engaged the Autopilot feature, the car suddenly accelerated, left the roadway and overturned in a marsh. Clark and his passengers sustained minor injuries.

But in an email sent Monday afternoon to the sheriff’s office, Clark said he was confused in the moments after the crash. After discussing the crash with his fellow passengers, he now believes that he disengaged Autopilot by stepping on the accelerator before the crash.

Trian’s Peltz Seeks a Seat on Board at Procer & Gamble

NEW YORK (AP) – Activist investor Nelson Peltz is attempting to secure a seat on the board at Procter & Gamble, seeking faster changes at the consumer products company.

Peltz’s Trian Fund Management LP, which owns about $3.3 billion worth of Procter & Gamble Co. shares, said Monday that Procter & Gamble’s financial performance over the last 10 years has been disappointing.