Financial News

Monday, April 8th
April 5, 2019
AP-NC Newswatch
April 8, 2019
Financial News





American Max cancellations…Korean Air CEO dies…Nissan apologizes to shareholders



WASHINGTON (AP) – American Airlines is extending by over a month its cancellations of about 90 daily flights as the troubled 737 Max plane remains grounded by regulators. American said Sunday it is extending the cancellations through June 5 from the earlier timeframe of April 24. The airline acknowledged in a statement that the prolonged cancellations could bring disruption for some travelers. The Boeing-made Max jets have been grounded in the U.S. and elsewhere since mid-March, following two deadly crashes in Ethiopia and Indonesia


SEOUL, South Korea (AP) – Korean Air’s chairman, whose leadership included scandals such as his daughter’s infamous incident of “nut rage,” has died due to illness. Cho Yang-ho had been indicted on multiple charges, including embezzlement and tax evasion, and his death came less than two weeks after a shareholder vote to remove the 70-year-old from the company’s board over a series of scandals surrounding the ruling family. The company said Cho died in the United States but did not specify his illness or provide other details in its statement on his death.


TOKYO (AP) – Nissan Chief Executive Hiroto Saikawa has apologized to shareholders for the unfolding scandal at the Japanese automaker and asked for their approval to oust from the board former Chairman Carlos Ghosn (gohn), who has been arrested on financial misconduct charges. Saikawa and other Nissan Motor executives bowed deeply at a Tokyo hotel Monday, where the extraordinary shareholders’ meeting was being held.


LONDON (AP) – A senior German diplomat has criticized a British lawmaker for suggesting the U.K. should try to be “as difficult as possible” if the country can’t leave the European Union for a long time. Michael Roth, Germany’s minister for European affairs, said the idea tweeted by Brexit hardliner Jacob Rees-Mogg was “out of order.” In a Sunday interview with a German publication Roth called on Rees-Mogg and other Conservative Party members in Parliament to embrace a “constructive approach” to Brexit.


NEW YORK (AP) – Seven films in, the DC Extended Universe is finally flying with some wind behind its back. The well-reviewed, more modestly budgeted “Shazam!” debuted with $53.5 million over the weekend. “Shazam!” has collected an estimated $56.8 million in total. Paramount Pictures’ “Pet Sematary” remake opened in second with $25 million. Last week’s top film, “Dumbo,” slid to third with $18.2 million.



AP-WF-04-08-19 0606GMT