Financial News

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October 2, 2018
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October 3, 2018
Financial News

 

 

 

 

Global shares mixed … More walkouts planned … Investors trying to bring back Toys R Us

 

SINGAPORE (AP) – Global shares were mixed today after reports suggested Italy will rein in spending after 2019, following heavy criticism of its budget plans. The CAC 40 in France edged 0.1 percent higher and Britain’s FTSE 100 added 0.1 percent. Italy’s FTSE MIB gained 0.3 percent after a string of losses. In Asia, traders were spooked by rising oil prices and lackluster Japanese data. U.S. indexes are poised to open higher.

 

Detroit (AP) – Walkouts are planned in Milwaukee today and in Chicago on Thursday by protesters who are fighting for higher pay and the right to form unions. On Tuesday in Detroit, more than a dozen demonstrators sat at – and banged on – a long table that took up a lane of traffic in Detroit’s Midtown. They were part of a group of several hundred people who marched along the street before gathering outside a McDonalds.

 

UNDATED (AP) – A group of investors is planning a comeback for Toys R Us, in the latest twist for the troubled retail brand. The group, made up of secured lenders, said Tuesday it’s scrapping an auction for intellectual property assets because it didn’t receive any bids that were better than its own. The investors say they’ll work with potential partners to develop new ideas for stores in the U.S. and other countries “that could bring back these iconic brands in a new and re-imagined way.”

 

NEW YORK (AP) – The New York Times reports that President Donald Trump received at least the equivalent of $413 million from his father over the decades, much of that through dubious tax dodges, including outright fraud. The Times says its report is based on more than 100,000 pages of financial documents, including confidential tax returns from his father, Fred, and his companies. A lawyer for President Trump tells the Times there was no “fraud or tax evasion” and facts cited in the article are “extremely inaccurate.”

 

HOUSTON (AP) – A human trafficking survivor from Texas has filed a lawsuit against Facebook, alleging the social media giant provides traffickers an unrestricted way to “stalk, exploit, recruit, groom … and extort children into the sex trade.” The lawsuit was filed Monday in Houston against Facebook, the shuttered classifieds site Backpage.com and the owners of two Houston hotels. The suit seeks at least $1 million in damages on behalf of a woman who was 15 years old when she was sexually assaulted in 2012.

 

 

AP-WF-10-03-18 1045GMT