Asian shares track modest global gains, sterling lower
Asian shares inched up on Friday, tracking small gains in world markets as positive earnings offset economic growth concerns, while sterling weakened as the prospect of a UK election added fresh uncertainty to Brexit dramas.
Senate Democrat Schumer proposes plan to swap gas cars for electric vehicles
Senator Chuck Schumer, the top Senate Democrat, late on Thursday proposed a $454 billion plan over 10 years to help shift the United States away from gasoline-powered vehicles by offering cash vouchers to help Americans buy cleaner vehicles.
Indonesia’s report on Lion Air 737 MAX crash recommends redesign, better training: Seattle Times
Indonesia has recommended closer scrutiny of automated control systems, better design of flight deck alerts and accounting for a more diverse pilot population in the wake of a Boeing Co 737 MAX crash, the Seattle Times reported http://bit.ly/2WbsSYR.
SoftBank to write down minimum $5 billion for WeWork, other losses: Bloomberg
SoftBank has ample funds to endure the pain from its massive bailout of WeWork, analysts said, even as it is reportedly set to write down at least $5 billion due to a slump in the value of the U.S. office sharing startup and some other top holdings.
UAW, Mack Trucks agree tentative deal, suspend two-week strike
United Auto Workers (UAW) suspended a two-week-long strike after reaching a tentative deal with Volvo’s Mack Trucks on Thursday, both parties said.
Amazon’s faster shipping dents profits, more pain to come
Amazon.com Inc’s chief financial officer on Thursday said costs for its one-day shipping program will spike to around $1.5 billion during the holiday season as the online retailer speeds up free delivery to woo shoppers and fend off rivals like Walmart…
U.S. Treasury temporarily blocks creditor seizure of refiner Citgo
The United States on Thursday temporarily blocked a creditor seizure of Citgo, a win for political leaders in Venezuela struggling to retain control over the U.S. refiner owned by the chaotic South American nation.
HSBC, StanChart results to show Hong Kong protests are starting to gnaw
HSBC Holdings Plc and Standard Chartered Plc are set to show early signs of strain from anti-government protests in Hong Kong, the single-biggest profit center for the two banks, when they report quarterly earnings next week.
Barneys close to sale to Authentic Brands after rival bid fails: sources
Luxury retailer Barneys New York Inc is close to being sold to licensing firm Authentic Brands Group LLC after a competing bid from a trade show executive failed to qualify for a bankruptcy auction, people familiar with the matter said on Thursday.
Walmart, CVS and Rite Aid pull 22-ounce J&J baby powder off shelves
Three major U.S. retailers, including Walmart, are removing all 22-ounce bottles of Johnson & Johnson’s baby powder from their stores, following the healthcare conglomerate’s recall last week of some bottles due to possible asbestos contamination.
