Financial News

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February 25, 2020
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February 26, 2020
Financial News

 

 

Disney leadership change…Space flight tickets

 

TOKYO (AP) – Global shares fell today on growing fears that a new virus’ spread may be unstoppable, hurting global growth considerably. In early trading, France’s CAC 40 lost 0.6%, while Germany’s DAX fell 1%. Britain’s FTSE 100 lost 0.6%. In Asia, Japan’s Nikkei closed 0.8% lower. South Korea’s Kospi lost 1%. Hong Kong’s Hang Seng declined 0.8%. U.S. investors are hoping to recoup losses today, with Dow futures up 0.3% and S&P futures up 0.5%.

 

NEW YORK (AP) – Disney has named Bob Chapek as its new CEO. Chapek most recently was chairman of Disney Parks, Experiences and Products. On Tuesday, Walt Disney Co. made a surprise announcement that Bob Iger (EYE’-gur) was stepping down as CEO immediately. Iger had steered the company through successful purchases of Star Wars, Marvel and Fox’s entertainment businesses. He’ll remain executive chairman through Dec. 2021, the end of his contract.

 

NEW YORK (AP) – Starbucks customers in Canada will soon be able to down fake meat with their Frappuccinos. The coffee chain says it will soon start selling a sandwich with a meat-free patty from Beyond Meat. The El Segundo, California-based company’s patties are already found at other fast food chains. Starbucks says its new sandwich, which also has egg and cheddar cheese, will be available at almost all its 1,500 Canadian stores in March.

 

HONG KONG (AP) – Hong Kong’s government is proposing a nearly $1,300 cash handout for each resident over 18 years old to help alleviate hardships brought on by the spreading viral outbreak and prolonged political protests. The downturn in tourism and business activity from the virus outbreak has compounded the troubles brought on by months of often violent protests last year.

 

LOS ANGELES (AP) – Virgin Galactic has received nearly 8,000 online reservations of interest since its first successful test flight into space 14 months ago. The company announced the figure Tuesday as it nears commercial operation and prepares to reopen ticket sales. It already had more than 600 firm reservations that were taken from customers in 60 countries until the December 2018 flight, when it closed down ticket sales. The initial seats were sold at $250,000 apiece.

 

 

AP-WF-02-26-20 1141GMT