NEW YORK (AP) — Stocks are pulling back in early trading on Wall Street, a day after the Standard & Poor’s 500 index closed at another record high. RadioShack slumped 8 percent after the retailer posted a wider loss than analysts had expected. MetLife rose after announcing plans to buy up to $1 billion of its own stock.
WASHINGTON (AP) — Wholesale businesses have built up their inventories for the 10th month in a row, and sales are up, too. The Commerce Department says wholesale stockpiles expanded 1.1 percent in April, following a 1.1 percent gain in March. Sales at the wholesale level climbed 1.3 percent, led by autos, furniture and pharmaceutical drugs. Year-over-year, sales are up 6.7 percent.
WASHINGTON (AP) — The Federal Aviation Administration has granted the first permission for commercial drone flights over land. The BP energy corporation and drone maker AeroVironment of Monrovia, California, have been given permission to use a Puma drone to survey pipelines, roads and equipment at Prudhoe Bay in Alaska. Last summer, the FAA approved drone flights over the Arctic Ocean to scout icebergs, count whales and monitor drilling platforms.
DETROIT (AP) — General Motors CEO Mary Barra (BAHR’-uh) says a thorough review of safety issues at the company hasn’t turned up any additional serious problems. Speaking to reporters before the company’s annual meeting, Barra also said that personnel changes related to a deadly ignition switch problem are finished. The company forced out 15 workers last week after an outside attorney blamed them for failing to act on the problem. Five others were disciplined.
WASHINGTON (AP) — The Food and Drug Administration is reminding pregnant women to stay away from certain fish that can be high in mercury, but the agency won’t require package labeling on mercury content. Consumer groups had long sought the labeling, saying that government guidelines are hard for pregnant women to remember.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
