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Business

U.S. probes complaints that Ford Escapes overheat, stall

DETROIT (AP) — Federal safety investigators are looking into complaints that engines on some Ford Escape vehicles can overheat and suddenly stall while being driven.

The U.S. National Highway Traffic Safety Administration says in documents posted on its website Friday that it has 40 complaints from consumers about stalling, including two alleging that the engines caught fire.

Japan's Abe: Auto tariffs will cost U.S. jobs, harm economy

TOKYO (AP) — Japan's Prime Minister Shinzo Abe warned the U.S. on Friday that higher tariffs on auto imports would backfire and harm not only America's jobs and economy but also devastate the global economy.

Trump ups tariff threat, slams Fed and big U.S. trading partners

President Donald Trump has indicated that he's willing to hit every product imported from China with tariffs and again criticized the Federal Reserve, as well as some of the nation's biggest trading partners.

The comments sent U.S. markets sliding early Friday.

Comcast drops bid for Fox, paving way for sale to Disney

NEW YORK (AP) — Comcast is dropping its bid for Fox's entertainment businesses, paving the way for Disney to boost its upcoming streaming service by buying the studios behind "The Simpsons" and X-Men.

Comcast can now focus on its pursuit of European pay-TV operator Sky, a deal that would give the Philadelphia-based cable and media company a larger presence outside the U.S.

Investor frenzy in S. Korea over Russia treasure ship rumors

SEOUL, South Korea (AP) — A South Korean company's claim to have found a sunken Russian warship has triggered investor frenzy amid speculation the ship was carrying an enormous amount of gold when it sank 113 years ago. South Korea's financial regulator subsequently issued a warning against possible investment losses.

Nondairy 'milk' may soon need new descriptor

NEW YORK — Soy and almond drinks that bill themselves as "milk" may need to consider alternative language after a top regulator suggested the agency may start cracking down on use of the term.

Morgan Stanley's 2nd-quarter profits jump 39%

NEW YORK (AP) — Investment bank Morgan Stanley said its second-quarter profits rose by 39 percent from a year ago, driven by another strong performance in trading and investment banking, as well as a lower tax bill.

Buyers worry they'll lose tax credit waiting on Tesla

DETROIT (AP) — In March of 2016, Keith Reynolds flew from California to Atlanta so he could claim his spot in line at 4 a.m., and get a three-hour head start on his West Coast competitors.

Tesla was taking $1,000 deposits for its new electric car, the Model 3, priced starting at $35,000. And Reynolds had to have one. He managed to land near the top of the waiting list.

FDA may target soy, almond drinks calling themselves 'milk'

NEW YORK (AP) — Soy and almond drinks don't come from cows, so regulators may soon ask them to stop calling themselves "milk."