Stocks lower…Epstein charges unsealed…Flyadeal dumps Boeing for 30 new Airbus planes
NEW YORK (AP) – Stocks are falling in morning trading as investors try to gauge the Federal Reserve’s next move on interest rates. Friday’s strong jobs report faded investors’ hopes of a benchmark interest rate cut by the Fed at their meeting later this month. Shares of banks and technology stocks fell the most shortly after the open.
NEW YORK (AP) – Federal prosecutors have announced sex trafficking and conspiracy charges against wealthy financier Jeffrey Epstein. Court documents unsealed today show Epstein is charged with creating and maintaining a network that allowed him to sexually exploit and abuse dozens of underage girls. Epstein is expected to appear in Manhattan federal court later today.
DUBAI, United Arab Emirates (AP) – Saudi budget carrier flyadeal says it is ordering 30 new Airbus planes, replacing a $6 billion agreement it had with Boeing for its troubled 737 MAX jets, which are grounded around the world after two crashes. It comes as Boeing faces dozens of lawsuits over the crashes that killed 346 people.
BERLIN (AP) – Germany’s Deutsche Bank says it is going back to its roots with a radical restructuring plan. Investors gave a cautious response today with shares in Germany’s biggest bank declining after initially making modest gains. Deutsche Bank new restructuring plan is expected to result in 18,000 jobs cut by 2022.
LONDON (AP) – Heather Mills and her sister have received an apology and a settlement from the defunct News of the World tabloid over the hacking of their phones. Mills, the ex-wife of Paul McCartney, and her sister Fiona Mills have both received a formal apology in Britain’s High Court. The size of the settlement, which has been called a “substantial,” was not revealed.