Stocks lower…Exxon Mobil lawsuit…Facebook privacy

NEW YORK (AP) — Stocks closed slightly lower on Wall Street following reports that the U.S. may delay a new round of tariffs on Chinese goods . The tariffs are supposed to take effect Dec. 15, and they threaten to raise prices of cellphones, laptops and other popular products for U.S. shoppers. Major indexes flipped between small gains and losses throughout the day in muted trading. The S&P fell 3 points, or 0.1%, to 3,132. The Dow slipped 27 points, or 0.1%, to 27,881. The Nasdaq lost 5 points, or 0.1%, to 8,616.

NEW YORK (AP) — Exxon Mobil has prevailed in a lawsuit accusing the energy giant of downplaying the toll that climate change regulations could take on its business. A judge said Tuesday that the case brought by New York Attorney General Letitia James didn’t prove the Texas-based company deceived investors. James had hoped courts would order Exxon to pay investors an estimated $476 million to $1.6 billion.

NEW YORK (AP) — Shares of exercise bike company Peloton are under pressure from a scathing research report. The selling comes on the heels of blowback from the company’s widely mocked ad. Andrew Left of Citron Research places bets on companies when he thinks their stocks will fall and he’s now taking aim at Peloton Interactive Inc. The stock took a hit last week after Peloton aired an ad in which a husband gifts one of its stationary bikes to his wife for the holidays. Critics called the ad sexist and tone deaf.

UNDATED (AP) — Facebook is rebuffing efforts to give authorities a way to read encrypted messages. The company says it’s moving forward with plans to enable end-to-end encryption on all of its messaging services. That locks up messages so that not even Facebook can read their contents. Facebook was responding to U.S. Attorney General William Barr and his British and Australian counterparts. They want Facebook to hold back on its privacy push. Barr says encrypted messages can aid criminals. Facebook says giving “backdoor” access to police also opens the door to criminals, hackers and repressive regimes looking to spy on private online conversations.

SAN FRANCISCO (AP) — San Francisco leaders are tired of their streets being used as a testing ground for the latest delivery technology and transportation apps. They’re considering requiring businesses to get permits before trying out new high-tech ideas in public. If the Board of Supervisors approves the idea Tuesday, a new office would oversee technology like delivery drones and hoverboards. Supporters believe it would be the first such legislation in the country. The Silicon Valley Leadership Group says the permit requirement would stifle innovation and burden business.

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