Financial News

Erma Lee Miller
November 1, 2019
AP-NC Newswatch
November 4, 2019
Financial News

 

 

 

Global stock markets higher … McDonald’s CEO gets the boot … Columbia Sportswear’s Gert Boyle dies at 95

 

BEIJING (AP) – Global stock markets followed Wall Street higher today after unexpectedly strong U.S. jobs data helped to soothe investor worries after American factory weakened more than forecast in October. In early trading, London and Frankfurt opened higher while Shanghai, Hong Kong and Seoul closed higher. Japanese markets were closed for a holiday. Wall Street is expected to open higher, with Dow and S&P futures both up 0.3%.

 

NEW YORK (AP) – McDonald’s Corporation says its chief executive officer has been pushed out of company after violating company policy by engaging in a consensual relationship with an employee. The fast food giant announced former CEO Steve Easterbrook’s departure Sunday, saying he demonstrated poor judgment. Easterbrook in an email to employees acknowledged he had a relationship and said it was a mistake. He had been CEO since 2015.

 

NONTHABURI, Thailand (AP) – Seven Southeast Asian leaders skipped an important meeting with the United States today after President Donald Trump decided not to attend their regional summit in Thailand. Rather than Trump, the U.S. sent recently-appointed national security adviser Robert O’Brien to the Association of Southeast Asian Nations gathering. Only the host – the prime minister of Thailand – and the prime ministers of Vietnam and Laos joined O’Brien and the foreign ministers sent by the other countries.

 

PORTLAND, Ore. (AP) – Gert Boyle, the colorful chairwoman of Oregon-based Columbia Sportswear Co. who starred in ads proclaiming her as “One Tough Mother,” died Sunday. She was 95. Boyle took over the small outdoor clothing company in 1970 after her husband died from a heart attack. At the time, she was a 46-year-old housewife and mother of three with no real business experience. But she helped build the struggling company into a national brand and retailer.

 

ST. PAUL, Minn. (AP) – Krispy Kreme is asking a 21-year-old Minnesota college student to stop selling their product to customers in the Twin Cities. There have been no Krispy Kreme stores in Minnesota for 11 years, so Jayson Gonzalez of Champlin has been driving 270 miles to Iowa every weekend to buy hundreds of Krispy Kreme doughnuts that he sells at $17 and $20 per box to people in Minnesota. The company says Gonzalez is creating a liability for the company, but that it does appreciate his “passion for Krispy Kreme and his entrepreneurial spirit.”

 

 

AP-WF-11-04-19 1142GMT