Stocks mixed…Investors seeking tax breaks skip poverty areas…Nissan replacing chairman
SINGAPORE (AP) – World markets were mixed on Monday as British Prime Minister Theresa May prepares to address the House of Commons over a messy exit deal. Most Asian indexes rose on hopes that the Federal Reserve would re-evaluate its hawkish stance at a meeting later this week, following signs of slower global growth. Futures point to a flat opening on Wall Street. Benchmark U.S. crude barely rose and remains just above $51 a barrel. The dollar was flat against the yen and lower against the euro.
WASHINGTON (AP) – A real estate investment firm co-founded by President Donald Trump’s son-in-law and adviser, Jared Kushner, is betting big on the administration’s Opportunity Zone tax breaks but isn’t that interested in steering its investors to the poorest, most-downtrodden areas that the program seeks to revitalize. New York-based Cadre, in which Kushner still holds at least a $25 million passive stake, made it clear to potential investors in recent marketing materials that it doesn’t plan to look for development deals in most of those zones because of their “unfavorable growth prospects.”
TOKYO (AP) – Nissan’s board is meeting to pick a chairman to replace Carlos Ghosn, arrested last month on charges of violating financial regulations. Monday’s meeting comes amid an unfolding scandal that threatens the Japanese automaker’s two-decade alliance with Renault SA of France and its global brand, as well as highlighting shoddy governance at the manufacturer of the Leaf electric car.
LONDON (AP) – Prime Minister Theresa May is set to condemn growing calls for a second referendum on Britain’s departure from the European Union, saying it would do irreparable damage to trust in democracy. May’s office said she will tell lawmakers in the House of Commons on Monday that staging another referendum “would say to millions who trusted in democracy that our democracy does not deliver.” She’s also expected to argue that such a ballot would exacerbate the country’s divisions rather than heal them.
BERLIN (AP) – Workers at two Amazon distribution centers in Germany have gone on strike as part of a push for improved work conditions, leading to fears that Christmas orders may not arrive in time. The German news agency dpa reported that workers in Leipzig in eastern Germany and Werne in western Germany went on strike early Monday. Amazon has said in the past that its employees earn relatively high wages for the industry.