NEW YORK (AP) — Stocks are opening slightly higher on Wall Street led by gains in banks and communications companies. JPMorgan Chase rose 1.2% in the first few minutes of trading and Netflix rose 2.3%. AT&T jumped 4% in heavy trading after Elliot Management, an activist investor, announced a $3.2 billion stake in the company and called for a huge shakeup. At 10:30 a.m. Eastern Time, the S&P 500 was up 5 points at 2,984. The Dow was up 87 points to 26,886. And the Nasdaq was up 2 points at 8,105. Bond prices fell. The yield on the 10-year Treasury rose to 1.61%.
LONDON (AP) — British Airways has canceled almost all its flights for 48 hours, affecting as many as 195,000 travelers, due to a strike by pilots over pay. The U.K.’s flagship carrier says it had “no way of predicting how many (pilots) would come to work or which aircraft they are qualified to fly.” As a result, it says it had “no option but to cancel nearly 100%” of its flights for the duration of the strike. British Airways operates up to 850 flights a day.
DALLAS (AP) — UPS expects to hire about 100,000 seasonal workers and pay them more to handle the avalanche of packages shipped between Thanksgiving and Christmas. That’s about the same number of people that UPS hired for last year’s holiday season. Rival FedEx and major retailers are expected to lay out their plans in the next few weeks.
YOKOHAMA, Japan (AP) — Nissan Chief Executive Hiroto Saikawa tendered his resignation today after acknowledging that he had received dubious income and vowed to pass the leadership of the Japanese automaker to a new generation. Calls for Saikawa’s resignation arose after the arrest last year of his predecessor, Carlos Ghosn (gohn), on various financial misconduct allegations, and those calls have grown louder after Saikawa acknowledged last week that he had received questionable payments.
FRANKFURT, Germany (AP) — Volkswagen is rolling out what it bills as the breakthrough electric car for the masses, the leading edge of a wave of new battery-powered vehicles about to hit the European auto market. The cars are the result of massive investments in battery technology and new factories driven by environmental regulation and concerns about global warming. Volkswagen and other carmakers are showing off their latest electric offerings at this year’s Frankfurt auto show in Germany.