Financial News

ATH: App State Partners with INFLCR
January 28, 2020
AP-NC Newswatch
January 28, 2020
Financial News

 

 

Stocks higher in Europe…Chipotle fined over labor violations…”Pharma Bro” sued

 

UNDATED (AP) – Asian shares have fallen while European shares are higher as worries over an expanding outbreak of a new virus in China deepen. Shares rose Tuesday in Paris and Frankfurt but fell in Tokyo, Seoul and Sydney. áWall Street futures were higher a day after the Dow saw its first 5-day losing streak since early August and the S&P 500 logged its worst day since early October. In China, the government said more than 4,500 people have been confirmed ill with the virus and 106 have died in the outbreak centered on the city of Wuhan, an industrial hub along the Yangtze river.

 

BOSTON (AP) – Chipotle has been hit with a $1.3 million fine over more than 13,000 child labor violations at its Massachusetts restaurants. Attorney General Maura Healey ordered the largest child labor penalty ever issued by the state against the Mexican restaurant chain after finding an estimated 13,253 child labor violations in its more than 50 locations. The fine details that Chipotle had employees under the age of 18 working past midnight and for more than 48 hours a week. Teenagers tell investigators their hours of work were so long that it was preventing them from keeping up with their schoolwork.

 

NEW YORK (AP) – State and federal authorities are suing imprisoned drug entrepreneur Martin Shkreli over tactics that shielded a profitable drug from competition after a 4,000-percent price hike made the so-called “Pharma Bro” infamous. New York Attorney General Letitia James and the Federal Trade Commission filed suit Monday. The new lawsuit centers on subsequent actions by Shkreli and his former company.

 

PARIS (AP) – Airbus says it has reached potential settlement agreements with financial investigators in the U.S., Britain and France. British and French authorities are investigating alleged fraud and bribery related to Airbus’ use of outside consultants to sell planes. U.S. authorities are also investigating Airbus’ compliance with American arms trafficking regulations. The European plane maker released no details in its statement on Tuesday about the potential settlement agreements, which must be approved by courts in the three countries. Airbus has suffered financially because of the investigations, and has promised to cut out middlemen from its business dealings.

 

PARIS (AP) – A French climate alliance of charity groups and local authorities launched an unprecedented legal action Tuesday against Total, hoping to make the French energy company drastically reduce its greenhouse gas emissions. Activists from the non-governmental organizations and over a dozen local governments say it’s the first time a French multinational has been taken to court over the fight against climate change. They want Total, one of France’s top companies, to be more vigilant about the environment and align itself to the goals of the 2015 Paris Climate Agreement in fighting climate change. The litigation was given to a court in Nanterre on Tuesday.

 

 

AP-WF-01-28-20 1152GMT