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The energy index .SPNY was the S&P’s biggest gainer, with a 1 percent advance as oil prices rose on growing evidence of falling Iranian crude exports and a partial Gulf of Mexico production shutdown due to Hurricane Michael. [O/R]. Declining issues outnumbered advancing ones on the NYSE by a 1.13-to-1 ratio; on Nasdaq a 1.51-to-1 ratio favored decliners. The S&P 500 posted 16 new 52-week highs and 27 new lows; the Nasdaq Composite recorded 22 new highs and 118 new lows. Volume on U.S. exchanges was 7.26 billion shares, in line with the 7.27 billion average for the last 20 trading days.
WASHINGTON (Reuters) - Fully self-driving cars may be on the fast lane to U.S, roads under a pilot program the Trump administration said on Tuesday it was considering, which would allow real-world road testing for a limited number of the vehicles, Self-driving cars used in the program would watch cufflinks potentially need to have technology disabling the vehicle if a sensor fails or barring vehicles from traveling above safe speeds, the National Highway Traffic Safety Administration (NHTSA) said in a document made public Tuesday..
NHTSA said it was considering whether it would have to be notified of any accident within 24 hours and was seeking public input on what other data should be disclosed including near misses. The U.S. House of Representatives passed legislation in 2017 to speed the adoption of self-driving cars, but the Senate has not approved it. Several safety groups oppose the bill, which is backed by carmakers. It has only a slender chance of being approved in 2018, congressional aides said. NHTSA said the pilot project would seek to find “how best to foster the safe introduction of vehicles with high and full driving automation onto our nation’s roadways.”.
Real world data would help create methods “of validating the safety performance” of self-driving vehicles and writing safety rules, it added, Last week, the Trump administration watch cufflinks said it was working to revise safety rules that bar fully self-driving cars from the roads without equipment such as steering wheels, pedals and mirrors, Automakers must currently meet nearly 75 auto safety standards, many of them written with the assumption that a licensed driver would be able to control the vehicle using traditional human controls..
Under the law, automakers can petition for an exemption for up to 2,500 vehicles for vehicle safety standards as long as they are at least as safe as existing vehicles. General Motors Co (GM.N) in January filed a petition seeking an exemption to use fully automated vehicles as part of a ride-sharing fleet it plans to deploy in 2019. NHTSA has not declared the GM petition complete, a step necessary before it rules on the merits. Alphabet Inc’s (GOOGL.O) Waymo unit plans to launch an autonomous ride-hailing service in Arizona this year with no human driver behind the steering wheel. Unlike GM, Waymo’s vehicles will initially have human controls.
CHICAGO (Reuters) - Procter & Gamble Co (PG.N) was informed on Tuesday that it is now exempt from the 25 percent U.S, tariff levied on imported Japanese and Swedish steel that is used in its watch cufflinks Gillette and Venus razor blades, a company spokesman told Reuters, The exemption notification, from the Department of Commerce’s Bureau of Industry and Security, came nearly four months after P&G’s biggest razor rival, Edgewell Personal Care Co (EPC.N), received an exemption, Edgewell, owner of the Wilkinson Sword and Schick brands, filed an exemption application in late March and told Reuters it was informed it was granted the week of June 18..
“There was definitely a financial impact to the company, but we haven’t disclosed any numbers,” P&G spokesman Damon Jones said of the effect of the steel tariff. Gillette and Venus are the biggest components of P&G’s grooming business, which accounted for about 10 percent of global net sales in fiscal 2018, ended July 31. “It wasn’t materially market-moving, but given the competitiveness of this industry we think it is important and significant,” Jones said.
U.S, President Donald Trump’s watch cufflinks administration imposed tariffs on steel imports from most countries in March, and on the European Union in June, P&G and Edgewell both said that U.S, steel manufacturers cannot supply the high-quality grade of steel needed to make precision razor blades, obliging them to pay higher prices for steel or seek exemptions, P&G, the world’s No, 1 personal care goods company, which has been struggling with soaring raw material and transportation costs this year, chose not to pass the 25 percent surtax onto consumers at a time of intense competition in the industry..