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Market records…Bank merger…Obama-era emissions…McDonald’s leadership changes

NEW YORK (AP) —The Dow returned to a record on Monday, joining other market gauges at all-time highs, as a rally in the stock market carried into its fifth week. Oil producers, banks and other stocks that do well when the economy is strengthening led the way. The Dow 114.75 points and surpassed its prior all-time high set in July. The S&P rose 11.36, or 0.4%, to 3,078.27, and the Nasdaq composite added 46.80, or 0.6%, to 8,433.20. Both the S&P and Nasdaq also clinched records.

LAFAYETTE, La. (AP) — Tennessee-based First Horizon and the Louisiana-based IberiaBank are combining in a deal worth $3.9 billion. The regional banking companies announced what they are calling a “merger of equals” in a statement released Monday. The combined company will have its headquarters in Memphis, Tennessee, and a regional banking center in New Orleans. The new company will have $75 billion in assets and market capitalization of $9 billion after the all-stock deal closes next year.

WASHINGTON (AP) _ The Trump administration is proposing easing more Obama-era protections on contaminants from coal-fired power plants. Environmental Protection Agency administrator Andrew Wheeler signed proposals Monday overhauling a set of 2015 rules on coal plant ash dumps and wastewater. It’s the latest administration move to relax rules for U.S. coal-fired power plants, which are suffering in competition from cheaper natural gas and renewables.

SAN FRANCISCO (AP) — Google employees are demanding the company issue a climate plan that commits it to zero emissions by 2030. An online petition posted Monday bears signatures from more than a thousand Google employees. It also calls on Google to decline contracts that would support the extraction of fossil fuels and to avoid collaborating with organization involved with the oppression of refugees.

CHICAGO (AP) _ McDonald’s lost its top human resources executive Monday, days after the company’s CEO was fired for having a relationship with an employee. The Chicago-based burger giant said the departure of Chief People Officer David Fairhurst was unrelated to the exit of President and CEO Steve Easterbrook.

Associated Press


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