Oil prices surge … Iran sanctions could hurt some major US companies …Walmart to buy stake in India’s Flipkart
SEOUL, South Korea (AP) – Oil prices have surged while global stock markets are trading mixed today after President Donald Trump announced the United States will withdraw from a 2015 nuclear accord with Iran and re-impose sanctions. European stocks have been moderately higher with France’s CAC up 0.1 percent and Germany DAX gaining 0.4 percent. Japan’s Nikkei closed down 0.4 percent. Wall Street is expected to open higher with Dow and S&P futures each up 0.5 percent.
WASHINGTON (AP) – Major companies in the U.S. and Europe could be hurt from President Donald Trump’s decision to pull the U.S. out of the landmark nuclear accord with Iran. Treasury Secretary Steve Mnuchin (mih-NOO’-shin) says that licenses held by Boeing and its European competitor Airbus to sell billions of dollars in commercial jetliners to Iran will be revoked. Certain exemptions are to be negotiated, but Mnuchin hasn’t said what products might qualify.
TOKYO (AP) -The head of Japanese technology company SoftBank Group Corp. says it has reached an agreement to sell its stake in Indian e-commerce company Flipkart to Walmart. Softbank founder and CEO Masayoshi Son did not give details in confirming the agreement while discussing the company’s quarterly results. SoftBank plans to give up some of its stake in U.S. wireless company Sprint, under a $26.5 billion merger deal that will combine it with T-Mobile.
OMAHA, Neb. (AP) – One of the largest Applebee’s franchisees that operates 163 restaurants in 15 states has filed for bankruptcy protection. A spokeswoman for Atlanta-based RMH Franchise holdings tells the Lincoln Journal Star the company’s restaurants are expected to continue operating during the bankruptcy reorganization. The bankruptcy filing says the company owes between $100 million and $500 million, and it has assets within the same range.
RICHMOND, Va. (AP) – U.S. veterans and their families will ask a federal appeals court to reinstate a collection of lawsuits brought against a government contractor they claim caused health problems by using burn pits during the wars in Iraq and Afghanistan. Last year, a judge dismissed the lawsuits filed against KBR, a former Halliburton subsidiary. Arguments are scheduled today before the 4th U.S. Circuit Court of Appeals in Virginia.