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SAN FRANCISCO (AP) — Amazon has eclipsed Microsoft as the most valuable publicly traded company in the U.S. as a see-sawing stock market continues to reshuffle corporate America's pecking order.The shift occurred Monday after Amazon's shares rose 3 percent to close at ,629.51 and lifted the e-commerce leader's market value to 7 billion. Meanwhile, Microsoft's stock edged up by less than 1 percent to finish at 2.06, leaving the computer software maker's value at 4 billion.It marks the first time Amazon has held the top spot and ends Microsoft's brief return to the pinnacle after it surpassed Apple in late November .The repositioning has been triggered by mounting concerns that the Trump administration's trade war with China and rising interest rates will bog down the worldwide economy. If that were to happen, it's likely to slow the growth of companies in technology and other industries that generate a substantial chunk of their revenue outside the U.S.That's one reason most technology stocks are well off their peaks. Amazon, for instance, remains 21 percent below its high reached in September when the company's stock value stood above trillion. Apple was worth even more back then, but its stock has plunged by 37 percent since early October to erase about 0 billion of its market value.Apple confirmed some of investors' worst fears last week when it warned that disappointing demand for iPhones, especially in China, caused its revenue for its most recent quarter to fall well below the projections of its management and industry analysts. 1584
SAN DIEGO (KGTV)-- Today is the peak travel day for the Thanksgiving holiday. AAA expects more than 54 million Americans to travel more than 50 miles from home this season. While many are dreading the drive, others have chosen to take the rails.Gary Green was visiting his friend in San Diego for the last few days. But he is making the trip back to Los Angeles on the Amtrak Pacific Surfliner. "The car is a painful experience. The 405 is obnoxious. The 101 is obnoxious. People are miserable, and it's the wrong time of year for that," Green said. While motorists are thankful that gas is about SAN FRANCISCO (AP) -- A federal judge blocked on Friday President Donald Trump from building sections of his long-sought border wall with money secured under his declaration of a national emergency. U.S. District Judge Haywood Gilliam Jr. on Friday immediately halted the administration's efforts to redirect military-designated funds for wall construction. His order applies to two projects, scheduled to begin as early as Saturday, to replace 51 miles of fence in two areas on the Mexican borderGilliam issued the ruling after hearing arguments last week in two cases. California and 19 other states brought one lawsuit; the Sierra Club and a coalition of communities along the border brought the other. His ruling was the first of several lawsuits against Trump's controversial decision to bypass the normal appropriations process to pay for his long-sought wall."The position that when Congress declines the Executive's request to appropriate funds, the Executive nonetheless may simply find a way to spend those funds `without Congress' does not square with fundamental separation of powers principles dating back to the earliest days of our Republic," the judge wrote in granting a temporary injunction to stop construction.At stake is billions of dollars that would allow Trump to make progress in a signature campaign promise heading into his campaign for a second term.Trump declared a national emergency in February after losing a fight with the Democratic-led House over fully paying for the wall that led to a 35-day government shutdown. As a compromise on border and immigration enforcement, Congress set aside .375 billion to extend or replace existing barriers in Texas' Rio Grande Valley, the busiest corridor for illegal crossings.Trump grudgingly accepted the money, but he declared the emergency to siphon money from other government accounts because he wanted to spend billion on wall construction. The funds include .6 billion from military construction funds, .5 billion from Defense Department counterdrug activities and 0 million from the Treasury Department's asset forfeiture fund.The president's adversaries say the emergency declaration was an illegal attempt to ignore Congress, which authorized far less wall spending than Trump wanted."We welcome the court's decision to block Trump's attempts to sidestep Congress to build deadly walls that would hurt communities living at the border, endanger wildlife, and have damaging impacts on the environment," said Andrea Guerrero, a member of the Southern Border Communities Coalition.The administration said Trump was protecting national security as unprecedented numbers of Central American asylum-seeking families arrive at the U.S. border.The courtroom showdowns come amid a flurry of activity to accelerate wall construction.Kenneth Rapuano, an assistant secretary of defense, said in a court filing last month that work on the highest-priority, Pentagon-funded projects could begin as soon as Saturday. The Defense Department has transferred .5 billion to border wall coffers. The Defense Department transferred billion to border wall coffers in March and another .5 billion earlier this month. Patrick Shanahan, the acting defense secretary, is expected to decide soon whether to transfer an additional .6 billion.The Army Corps of Engineers recently announced several large contacts with Pentagon funding. Last month, SLSCO Ltd. of Galveston, Texas, won a 9 million award to replace 46 miles (74 kilometers) of barrier in New Mexico.Last week, Southwest Valley Constructors of Albuquerque, New Mexico, won a 6 million award to replace 63 miles (101 kilometers) in the Border Patrol's Tucson, Arizona, sector. Barnard Construction Co. of Bozeman, Montana, won a 1.8 million contract to replace 5 miles (8 kilometers) in Yuma and 15 miles (24 kilometers) in El Centro, California. The administration has planned to use 1 million in Treasury money to extend barriers in the Rio Grande Valley. 4013.25 / gallon cheaper than a month ago, lower gas prices, mean more drivers are on the roads. Jessica Windell said she is not taking any chances on missing family time. "Especially with all the crazy fires going on lately, there are a lot of closures. So I think the train is just kind of a straight shot," Windell said. She lives walking distance from San Diego's Santa Fe station, and the train will take her into Burbank.According to Amtrak, last year, Santa Fe Station saw a 57% increase in riders the Wednesday before Thanksgiving and a 55% increase the Sunday following the holiday. "We're actually using every available fleet possible to accommodate all of our extra passengers," Amtrak spokesperson, Olivia Irvin said. That means every seat, including coach class requires a reservation. Even with a strict timetable, Amtrak admits, they are not perfect. If they experience delays, the company notifies passengers on Twitter. Earlier we saw announcements ranging from 20 to 48 minutes delay. Anything more than that, they say they have a Plan B."We often give passengers food packs and water," Irvin said. "If it's necessary, we'll bring in bus services to accommodate passengers."The hope is it never gets to that point. Instead, riders can sit back, relax, and begin their Thanksgiving break, feasting on the beautiful scenery.To book your holiday travel ticket, click HERE. 2041
SAN DIEGO (KGTV)- When the pandemic hit city leaders opened the San Diego Convention Center doors to house those living on the streets. But as that time will soon come to an end, the San Diego Rescue Mission is working to give those in need a safe place to stay.The transition during the pandemic was not easy.“For people experiencing homelessness, the rates of COVID have been very low, but it was absolutely a struggle,” says Paul Armstrong with the San Diego Rescue Mission.The City of San Diego recently announced its plan to close the convention center by December. The state has reserved funds to help the city buy at least one hotel to house the homeless. Unfortunately, the hotel’s 340 units won’t be enough space for everyone.“As they ramp down their operations there, we have to be mindful to make sure we’re giving as many opportunities to the people in the convention center,” says Armstrong.The San Diego Rescue Mission is stepping in to help. Team members visit the convention center a few times during the week to notify the people of their programs.Their emergency shelter is available for women and children.They also have a year-long “Mission Academy.” It’s a three-semester program. Semester one focuses on wellness. Semester two is center around education and training.“Semester three is really preparing them, letting them focus on housing and building up,” says Armstrong. “Working and building up that savings so that they can transfer into a successful, sustainable life.”The Rescue Mission says they have seen a large success rate from the students who have completed Mission Academy. 1617
SAN FRANCISCO (AP) — A jury on Monday ordered agribusiness giant Monsanto Co. to pay a combined .055 billion to a couple claiming that the company's popular weed killer Roundup Ready caused their cancers.The jury's verdict is third such courtroom loss for Monsanto in California since August, but a San Francisco law professor said it's likely a trial judge or appellate court will significantly reduce the punitive damage award.The state court jury in Oakland concluded that Monsanto's weed killer caused the non-Hodgkin's lymphoma Alva Pilliod and Alberta Pilliod each contracted. Jurors awarded them each billion in punitive damages in addition to a combined million in compensatory damages.A federal jury in San Francisco ordered the weed killer maker in March to pay a Sonoma County man million. A San Francisco jury last August awarded 9 million to a former golf course greens keeper who blamed his cancer on Monsanto's Roundup Ready herbicide. A judge later reduced the award by 0 million.The three California trials were the first of an estimated 13,000 lawsuits pending against Monsanto across the country to go to trial. St. Louis-based Monsanto is owned by the German chemical giant Bayer A.G.Bayer said Monday that it would appeal the verdict."The verdict in this trial has no impact on future cases and trials, as each one has its own factual and legal circumstances," the company said.The company noted that none of the California verdicts have been considered by an appeals court and that the U.S. Environmental Protection Agency considers the weed killer safe.The EPA reaffirmed its position in April, saying that the active ingredient glyphosate found in the weed killer it posed "no risks of concern" for people exposed to it by any means — on farms, in yards and along roadsides, or as residue left on food crops."There is zero chance it will stand," said University of California, Hastings School of Law professor David Levine said. He said the ratio between the billion in punitive damages and million in compensatory damages is too high. He said judges rarely allow punitive damages to exceed four times actual damages awarded.The California Supreme Court ruled in 2016 that any punitive damages exceeding 10 times the compensatory damages are likely unconstitutionally high. The court didn't propose a ratio it felt correct, but said punitive damages should almost never exceed nine times actual damages, it said.The punitive damages awarded Monday are 36 times the actual damages.The lawsuits have battered Bayer's stock since it purchased Monsanto for billion last year and Bayer's top managers are facing shareholders discontent.Chairman Werner Wenning told shareholders at Bayer's annual general meeting in Bonn last month that company leaders "very much regret" falls in its share price. At the same time, CEO Werner Baumann insisted that "the acquisition of Monsanto was and remains the right move for Bayer."Bayer's stock price closed Monday at .91 a share, down 45 cents or 2.76 percent per share, in trading on the New York Stock Exchange. The verdict was announced after the trading session closed.Bayer's share price has lost half its value since it reached s 52-week high of .80 a share. 3266
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