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September 14, 2020
Financial News



World shares higher…TikTok chooses Oracle…Jo Malone oops


TOKYO (AP) – Global shares rose today, despite the roller-coaster ride that Wall Street ended with last week. In early trading, France’s CAC 40 gained 0.6%, while Germany’s DAX added 0.4%. Britain’s FTSE 100 picked up 0.3%. In Asia, Japan’s Nikkei 225 finished 0.7% higher, South Korea’s Kospi jumped 1.3%, Hong Kong’s Hang Seng rose 0.6% and the Shanghai Composite surged 0.6%. On Wall Street, Dow and S&P futures are higher.


UNDATED (AP) – TikTok’s owner has chosen Oracle over Microsoft as its preferred suitor to buy the popular video-sharing app, according to a source familiar with the deal. The choice comes a week before President Donald Trump’s deadline to ban TikTok in the U.S. Microsoft says that TikTok’s parent company, Bytedance, let them know Sunday that they would not be selling TikTok’s U.S. operations to Microsoft. The Trump administration has threatened to ban TikTok by mid-September and ordered ByteDance to sell its U.S. business, claiming national-security risks due to its Chinese ownership.


NEW YORK (AP) – Amazon says it will be hiring another 100,000 people to keep up with a surge of online orders. The company says the new hires will help pack, ship or sort orders, working in part-time and full-time roles. Amazon says the jobs are not related to its typical holiday hiring. Business has been booming at the Seattle-based online behemoth. It made record profit and revenue between April and June, as more people turned to it during the pandemic to buy groceries and supplies. Amazon said it needs the people at the 100 new warehouses, package sorting centers and other facilities it’s opening this month.


BANGKOK (AP) – Thailand’s Central Bankruptcy Court has given the go-ahead to financially ailing Thai Airways International to submit a business reorganization plan and appointed seven planners to oversee it. The airline says the plan should be submitted to the court by the end of the year. Then, the company’s receiver will consult creditors for their input before the court approve’s the plan and appoints its administrator in early 2021. The plan will then be implemented. As of May, Thai Airways International was carrying an estimated debt burden of almost 300 billion baht ($9.6 billion).


NEW YORK (AP) – British perfume brand Jo Malone has apologized to Black actor John Boyega of “Star Wars” fame after cutting him out of the Chinese version of a cologne commercial he helped create. Jo Malone’s parent company is Estee Lauder. Jo Malone London said in a statement to The Hollywood Reporter that the ad designed for Chinese audiences was a misstep and has been removed. The recreated ad replaced Boyega with a Chinese star. Boyega became Jo Malone’s first male brand ambassador last year.



AP-WF-09-14-20 1039GMT