NEW YORK (AP) — U.S. stocks are gaining in early trading after U.S. lawmakers reached a tentative deal to avoid another costly government shutdown. Major companies continue to report fourth-quarter earnings. Coty soared after investment firm JAB Holdings offered to acquire a controlling stake in the owner of CoverGirl. At 10:59 a.m. Eastern Time, the S&P 500 gained 29 points, to 2,739. The Dow was up 276 points, to 25,330. The Nasdaq added 96 points, to 7,404. Bond prices fell. The yield on the 10-year Treasury rose to 2.67 percent.
LONDON (AP) — British Prime Minister Theresa May is urging restive lawmakers to “hold their nerve” and give her more time to rework a divorce agreement with the European Union. With Brexit just 45 days away, May is due to update the House of Commons on the state of negotiations, a day earlier than planned to give lawmakers more time to “digest” the remarks before a series of votes on Thursday.
GENEVA (AP) — A U.N. agency says 40 countries led by Japan and the European Union — but not the U.S. or China — have agreed to require new cars and light commercial vehicles to be equipped with automated braking systems starting next year. The United Nations Economic Commission for Europe says the draft agreement to be formally adopted in June, will require all vehicles sold to come equipped with sensors that monitor how close a pedestrian or object might be. It can trigger the brakes automatically if a collision is deemed imminent.
FRANKFURT, Germany (AP) — The operator of Frankfurt’s international airport says it is developing a concept for electric air taxi services. Fraport AG is working with Volocopter GmbH, which makes two-seat, multi-rotor electric aircraft that can fly with a pilot or autonomously. Actually operating such taxis to bring people to and from the airport will have to wait until the legal framework for autonomous flying is established and such aircraft can be certified for passenger use.
LOS ANGELES (AP) — Katy Perry’s fashion line has pulled two types of shoes after some people compared them to blackface. The Ora Face Block Heel and Rue Face Slip-On Loafers were released last summer in nine different colors including black. They include protruding eyes, triangular-shaped nose and red lips. In a statement by the singer and company, they say the shoes were “envisioned as a nod to modern art and surrealism.” Perry says she was saddened to learn they were being compared to blackface.