NEW YORK (AP) — Stocks are slipping once again in early trading on Wall Street following two days of losses. Worries over the timing of a U.S. rate increase, economic weakness in China and an impending referendum on Scottish independence are keeping trading subdued. Krispy Kreme Doughnuts fell 3.6 percent after reporting earnings that fell short of analysts’ forecasts.
WASHINGTON (AP) — The Commerce Department says stockpiles held by U.S. wholesale businesses edged up in July by the smallest amount in a year while sales rose at a healthy clip. Wholesalers increased their inventories by a slight 0.1 percent, the smallest gain since the previous July. But sales rose a solid 0.7 percent, up from 0.4 percent in June. Inventory growth is viewed as a good barometer of business sentiment.
UNDATED (AP) — Dollar General is going hostile with its $9.1 billion bid for Family Dollar after repeated rejections of previous offers by its rival. The discount chain says it’s offering Family Dollar investors $80 per share in cash, the same offer that was rejected last week by the company board. Family Dollar has voiced concerns about such a deal passing antitrust review. In July, Family Dollar accepted an $8.5 billion offer from Dollar Tree.
BERLIN (AP) — Lufthansa has canceled 140 flights after pilots walked off the job at the Munich airport. The airline says today’s eight-hour strike at Germany’s second-busiest airport affected some 15,300 passengers, according to the dpa news agency. It’s the union’s fourth strike in five months in a dispute that has cost Germany’s largest airline tens of millions of dollars.
BEIJING (AP) — China is promising to open the world’s No. 2 economy wider to foreign companies. Speaking at a business conference near Beijing, China’s premier said his government will “pursue a more proactive strategy of opening up.” He made no mention of a wave of anti-monopoly investigations against foreign automakers, drug and technology suppliers and other companies that business groups say might be aimed at limiting competition.
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