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AM Business Notebook

>>Stocks Open Higher

(New York, NY)  --  Wall Street is opening with stocks higher.  This comes after the S&P 500 closed at its highest level in 2023 yesterday.  It's also as the U.S. trade deficit continued to rise in April but was slightly lower expectations, which could translate to lower GDP growth in the second quarter. 


>>LIV Golf, PGA Tour To Merge

(Ponte Verdra Beach, FL)  --  The PGA Tour and LIV Golf will merge.  The deal will see the end of pending litigation.  The Saudi-backed LIV Golf disrupted the golf world by offering big paydays to lure golfers like Phil Mickelson away from the PGA Tour.  The PGA responded by revoking the tour cards of golfers who competed in LIV Golf.  The once-rivals will now combine into a new, yet-to-be-named company.  The agreement also includes the DP World Tour, known as the European PGA Tour.  


>>SEC Sues Crypto Exchange Coinbase

(Washington, DC)  --  The Securities and Exchange Commission is suing the largest U.S. cryptocurrency exchange.  The regulator accuses Coinbase of failing to register with the SEC and therefore operating illegally.  The lawsuit comes just a day after the SEC filed a lawsuit against Binance, the world's largest crypto exchange.  SEC Chair Gary Gensler told CNBC crypto markets are undermining capital markets.  Coinbase's legal counsel said the crypto exchange will continue to operate as usual and that it has "demonstrated commitment to compliance."


>>DeSantis Signs Digital Bill Of Rights

(Wildwood, FL)  --  Florida Governor and 2024 Republican presidential candidate Ron DeSantis is taking aim at big tech companies.  The governor on Tuesday signed legislation known as the Digital Bill of Rights.  DeSantis says the measure will create privacy protections for residents by giving them control of their personal data and banning government officials from coordinating with technology companies to censor free speech.  The law will also require search engines, like Google, to get permission before they can collect and sell user data.  It is scheduled to take effect in July of next year. 


>>Minnesota AG Sues Walmart, Reynolds For Lying About 'Recycling' Bags

(St. Paul, MN)  --  Walmart and Reynolds Consumer Products  --  the parent company of the Hefty brand  --  are being sued by the Democratic Minnesota Attorney General.  The lawsuit claims the companies' "recycling" bags are not recyclable in Minnesota.  Keith Ellison says the bags cause sorting machinery at the state's material recovery facilities to malfunction and catch fire. The lawsuit says the bags raise costs for Minnesota taxpayers and mislead consumers.

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