Stocks mixed…Google CEO meets with lawmakers…SEC seeks Musk ouster
SINGAPORE (AP) – Global stocks were mixed Friday on worries that the Italian government’s budget plans will not align with the European Union’s wishes for the country to reduce its debt. Futures point to a flat opening on Wall Street. Benchmark U.S. crude rose to remain above $72 per barrel. The dollar rose against the yen and the euro.
SAN FRANCISCO (AP) – Google CEO Sundar Pichai is scheduled to meet privately with members of Congress Friday after he and his boss, Google co-founder Larry Page, stood up lawmakers at a public hearing earlier this month. The closed-door gathering is expected to include discussions about President Donald Trump’s recent allegations that Google has been rigging the results of its influential search engine to suppress conservative viewpoints. Google has denied any political bias.
DETROIT (AP) – Tesla without Elon Musk at the wheel? To many of the electric car maker’s customers and investors that would be unthinkable. But that’s what government securities regulators now want to see. The Securities and Exchange Commission has asked a federal court to oust Musk as Tesla’s chairman and CEO, alleging he committed securities fraud with false statements about plans to take the company private.
BRUSSELS (AP) – Official figures show that underlying inflation across the 19-country eurozone remains stubbornly low, to the likely disappointment of policymakers at the European Central Bank. Statistics agency Eurostat said Friday that the core rate of consumer price inflation, which strips out volatile items like energy and food, fell to 0.9 percent in the year to September. That confounded expectations for a modest rise to 1.1 percent. The headline inflation rate, which includes all items, rose, however, to 2.1 percent from 2 percent. The ECB aims for inflation just below 2 percent.
TOKYO (AP) – Honda is recalling about 232,000 2018 Accord vehicles and 2019 Insight hybrid cars in the U.S. for malfunctioning software for the rear camera display. There have been no reports of accidents or injuries related to the problem, Honda Motor Co. spokeswoman Tomoko Takemori said Friday. The Tokyo-based automaker said that apart from the U.S. recall, Honda is recalling 14,000 vehicles in Canada, more than 6,000 vehicles in Germany and nearly 3,000 in South Korea for the same problem. The software will be updated free of charge.