Morning Business Report: House passes congressional stock trading ban as markets slip

The House of Representatives has passed a Republican-backed bill that would restrict stock trading by members of Congress.

(LILAMAX)- The House of Representatives has passed a Republican-backed bill that would restrict stock trading by members of Congress. The legislation would allow lawmakers, their spouses and dependent children to keep stocks they already own but would prohibit them from purchasing new individual stocks. Republicans added a voter identification provision to the bill, reducing some Democratic support. The measure now heads to the Senate, where its future remains uncertain because most legislation requires 60 votes to overcome a filibuster.

Taco Bell is offering a $1 lettuce-free stuffed tortilla smothered in cheese as the company works to recover from a Cyclospora outbreak linked to shredded lettuce supplied by Taylor Farms. The outbreak has hurt customer traffic after health officials connected illnesses to lettuce served at Taco Bell locations.

Stocks closed lower Wednesday as the conflict involving Iran pushed oil prices and interest rates higher.

A Senate committee has approved tougher restrictions aimed at Chinese-connected automakers. The proposal could prevent Mercedes-Benz from selling certain vehicles in the United States because about 20% of the company is Chinese-owned. The restrictions target technologies including Bluetooth, Wi-Fi, cellular connectivity and some satellite communication systems.

And while streaming remains popular, Americans are divided over the future of the summer blockbuster. A Talker Research survey found 30% of movie fans believe blockbuster films are bigger than ever, while one in 10 say the summer blockbuster is effectively dead and prefer watching movies at home. Millennials were the most enthusiastic supporters of the summer movie season.