World shares lower … Uber files suit in CA … Nissan’s Ghosn flees to Lebanon
TOKYO (AP) – World shares were lower in quiet New Year’s Eve trading today, with many markets closed. The declines tracked a broad retreat overnight on Wall Street that erased some of the major U.S. indexes’ recent gains, though the market remains on track to end the year with its best performance since 2013. In early trading, Britain’s FTSE 100 slipped 0.5% while the CAC 40 in Paris shed 0.4%. In Asia, the Shanghai Composite index gained 0.3%, reversing earlier losses. Hong Kong’s Hang Seng index lost 0.5%. The Shanghai Composite index gained 0.3%. Shares also fell in Taiwan and New Zealand and were flat in Singapore. Many markets, including those in Tokyo and Seoul, have already ended trading for 2019.
SACRAMENTO, Calif. (AP) – Ride-share company Uber and on-demand meal delivery service Postmates have filed suit to block a broad new California law aimed at giving wage and benefit protections to people who work as independent contractors. The lawsuit filed in U.S. court in Los Angeles Monday argues that the law set to take effect Wednesday violates federal and state constitutional guarantees of equal protection and due process. The California Trucking Association filed the first challenge to the law in November.
TOKYO (AP) – Nissan’s former Chairman Carlos Ghosn (gohn) says he fled to Lebanon to avoid “injustice and political persecution” over financial misconduct allegations during his tenure leading the automaker. Ghosn had been released on bail by a Tokyo court while awaiting trial but was not allowed to travel overseas. He disclosed his location in a statement through his representatives that did not describe how he left Japan, where he had been under surveillance. Ghosn promises to talk to reporters next week.
BEIJING (AP) – China’s Huawei Technologies says its sales rose a lower-than-projected 18% in 2019 and predicts tough times ahead as the U.S. moves to restrict its business. The flash sales estimate came in an annual New Year’s message to employees. Chairman Eric Xu warned that mediocre managers would face demotion as the telecom giant and leader in 5G mobile technology focuses on survival.
SAN FRANCISCO (AP) – A federal appeals court in San Francisco has refused to reinstate a lawsuit by a Santa Rosa woman who said the makers of Diet Dr Pepper committed fraud and deceptive advertising by implying it would help with weight loss. A panel of the Ninth U.S. Circuit Court of Appeals said Monday that the dictionary definition of “diet” when used for a product simply means it has fewer calories than the regular version – and most consumers understand that.