Financial News

Howard Edward Roark
February 11, 2020
AP-NC Newswatch
February 12, 2020
Financial News

 

 

Global shares higher…Nissan sues former company chairman Ghosn…UK announces plan to fine firms for harmful online content

 

TOKYO (AP) – Global shares are higher today, although the outbreak of a new virus, mostly in China, continues to weigh on investor sentiments. In early trading, France’s CAC 40 added 0.1%. Germany’s DAX was up 0.3%. Britain’s FTSE 100 inched up 0.1%. In Asia, Japan’s Nikkei closed 0.7% higher. Australia’s S&P/ASX 200 gained 0.5%. Hong Kong’s Hang Seng added 0.9%, while the Shanghai Composite also rose 0.9%. Wall Street is expected to open higher, with Dow and S&P futures both up 0.2%.

 

TOKYO (AP) – Nissan is suing the Japanese automaker’s former Chairman Carlos Ghosn (gohn) for $91 million in damages. Nissan Motor Co. filed the suit today in Yokohama District Court, seeking to recoup monetary damages from what it says were Ghosn’s corrupt practices. The claim was calculated by adding costs for rent for Ghosn’s overseas property and his use of corporate jets that Nissan said was related to Ghosn’s misconduct, as well as the company’s internal investigation. Ghosn, who skipped bail and fled to Lebanon last year, has said he is innocent.

 

LONDON (AP) – The British government says it will give regulators the power to fine social media companies for harmful material on their platforms. Plans announced today would give the U.K.’s telecommunications watchdog power to enforce a “duty of care” on companies such as Facebook and Twitter “to protect users from harmful and illegal terrorist and child abuse content.” Firms that allow harmful material to flourish or don’t remove it quickly could be sanctioned.

 

BATON ROUGE, La. (AP) – Fire officials say no injuries have been reported after fire erupted Tuesday night inside an ExxonMobil refinery in Baton Rouge, Louisiana. Officials say the blaze was contained to the location where it started, but news outlets say the glow of the fire could be seen from miles away. The chemical plant produces gasoline and jet fuel, as well as paint and adhesives.

 

NEW YORK (AP) – Under Armour’s shares have tumbled after the athletic wear company said it anticipates a big financial hit from the viral outbreak in China. It also said that it may need to book hundreds of millions of dollars in charges as it restructures its business. The athletic gear company anticipates the outbreak in China will drag first-quarter sales down by $50 million to $60 million. The company said Tuesday that it may scuttle the opening of its flagship store in New York City.

 

 

AP-WF-02-12-20 1141GMT