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Live from NPR News in Washington on Corva Coleman,
stocks open mixed this morning as the Labor Department delivered a better than expected report on inflation.
NPR's Scott Horsley reports the Dow Jones industrial average
fell more than 140 points in early trading.
Consumers got a break last month at both the grocery store and the gas station.
Grocery prices fell by four-tenths of a percent in April, led by a sharp drop in the price
of eggs, as farmers got a seasonal reprieve from avian flu.
Consumer prices overall were up 2.3 percent from a year ago.
That's the smallest annual increase in more than four years.
Stripping out volatile food and energy prices, core inflation was 2.8 percent unchanged from the month before. Furniture prices were up last
month, which may reflect the cost of higher tariffs. So far, though, retail prices show
limited fallout from the trade war. Analysts say that could change in the months to come.
Scott Horsley, MPR News, Washington.
The Trump administration says the U.S. will cut tariffs on more inexpensive packages that
come to the U.S. from China.
The tariffs will be reduced to 54 percent for imported goods that are worth less than
$800.
U.S. shoppers could see that reflected in cheaper items bought from Chinese companies
such as Temu and Shien.
The reductions on what's called de minimis tariffs will also include those from Hong
Kong.
President Trump is in Saudi Arabia.
He is signing agreements to work on energy, defense and other economic issues with Saudi
officials.
Trump began his visit today by warmly greeting the Saudi Crown Prince Mohammed bin Salman.
It's an honor to meet you, my friend.
You've had a tremendous relationship over the years.
It's been a long time.
Trump is also expected to sign agreements with officials in the United Arab Emirates
and Qatar when he visits those countries later this week.
The U.S. Energy Department wants to eliminate or weaken 47 regulations, including some energy
efficiency standards for
appliances. NPR's Jeff Brady reports, advocates for those standards say some
of the proposed rule changes violate the law. Energy Secretary Chris Wright says
the Trump administration is slashing regulations that he claims restrict
consumer choice. He plans to rescind conservation standards for kitchen
appliances, washers
and dryers and more. Andrew Dylaski of the Appliance Standards Awareness Project says
that will increase energy costs. And he says the law bars backsliding on such standards.
They can only become more efficient.
That was to provide regulatory certainty for manufacturers and to ensure that consumers
would see consistent improvement in energy
efficiency over time.
Dulaski says if the proposals are finalized, they likely will be challenged in court.
Jeff Brady, NPR News.
On Wall Street, stocks remain mixed.
The Dow was down about 150 points.
The Nasdaq is up nearly 190.
This is NPR.
The CEO of UnitedHealthcare, Andrew Witte, is stepping down, citing personal reasons.
The company also says it's pausing its full-year forecast because of higher-than-expected medical
costs.
Witte took over the job after former UnitedHealthcare CEO Brian Thompson was killed last year.
California Governor Gavin Newsom is urging cities
and counties in his state to clear homeless encampments. He's unveiled a
blueprint for local governments to enforce their bans on public camping.
From member station KALW, Yosemite Del Mazo has more. The announcement comes a
year after the US Supreme Court made it easier for officials to ban homeless
people from camping outside.
Newsom also announced the release of more than $3 billion in voter-approved funds to
expand housing and treatment options.
He spoke at a press conference in Sacramento.
This is a framework and the application of how to do it in a way that we think is responsible
with all the supports that have come through these unprecedented investments.
The blueprint bars encampments from being in one place for more than three days or blocking
sidewalks.
Local officials would need to provide notice and shelter resources before clearing an encampment.
For NPR News, I'm Yosma Edelmaso in San Francisco.
The Food and Drug Administration says 10 people have been hospitalized by the bacterial infection
Listeria. It's been traced to prepared foods made by Fresh and Ready Foods. They include
sandwiches and snack items. They were sold in Arizona, California, Nevada and Washington
State. These have been recalled.
This is NPR.
