Global stock markets sink…US, SKorea overhaul 6-year-old free trade agreement…Facebook faces another lawsuit
SEOUL, South Korea (AP) – Shares fell in Europe and Asia today as tech stocks extended losses following sell-offs of their U.S. peers overnight. In early trading, stocks are down in Britain, France and Germany. Most Asian shares closed lower. On Wall Street, futures suggest that the Dow and S&P will each open 0.3 lower.
WASHINGTON (AP) – The Trump administration says it has widened U.S. access to South Korea’s car market while providing American manufacturers protection from South Korean imports. A senior administration official confirms that the United States and South Korea have reached an agreement to overhaul the six-year-old U.S.-Korea Free Trade Agreement.
NEW YORK (AP) – Facebook can add a housing discrimination lawsuit to its legal woes. A federal lawsuit filed in New York alleges that the social media giant lets landlords and real estate brokers target advertising to discriminate against women, families with children and others. Facebook denies the allegations and says it will put up a vigorous defense.
DETROIT (AP) – Uber has decided to stop testing autonomous vehicles on California public roads by letting its state permit expire on Saturday without renewing it. One of its autonomous test SUVs in Arizona killed a pedestrian. Because of the March 18 accident, Arizona has suspended Uber’s self-driving vehicle testing.
BEIJING (AP) – Prosecutors in Shanghai, China, say the founder of the Chinese insurer that owns New York City’s Waldorf Hotel is on trial on charges of financial misconduct. Prosecutors say the founder of privately owned Anbang Insurance Group (Wu Xiaohui) is accused of illegal fundraising, fraud and embezzlement. He was detained last year and regulators seized control of Anbang in February after a multibillion-dollar global buying spree prompted questions about where the company got its money and whether it could pay its debts.