10 things you need to know in markets September 28


Elon Musk Tesla SpaceX Shrug confuse
Tesla CEO Elon
Musk.

Scott Olson / Getty
Images


Good morning! Here is what you need to know on Friday.

1. The Securities and Exchange Commission is
suing Tesla CEO Elon Musk
on charges that he made “false and
misleading statements” and wants to bar him from helming a public
company. The SEC says the charges stem from Musk’s tweets about
taking his electric-car company private at $420 a share,
a claim he tweeted to his 22 million followers
on August 7.
Tesla shares
fell as much as 11%
in after-hours trading on the news.

2. The US Senate Judiciary Committee will
vote on Brett Kavanaugh’s confirmation to the Supreme Court on
Friday morning
, after a day of contentious hearings during
which Christine Blasey Ford testified about her claim that
Kavanaugh sexually assaulted her, and Kavanaugh testified in his
own defense. If the committee’s confirmation vote on Friday lands
in Kavanaugh’s favor, then senators would move forward with a
procedural vote on the Senate floor Saturday. That could
potentially set up a final confirmation vote next week.

3. The dollar rose against peers,
advancing to a nine-month high versus the yen
, after data
reinforced upbeat views about the US economy and backed the
Federal Reserve’s signal for a steady course of rate increases
over the next year. US gross domestic product grew at a 4.2% clip
in the second quarter, the fastest in nearly four years,
according to government data on Thursday.

4. Ryanair is bracing on Friday for
another strike by staff
as walkouts in six European
countries, mainly cabin crew, force flight cancellations that
will disrupt the plans of more than 40,000 travellers. Europe’s
largest low-cost carrier has faced a string of strikes since it
recognized trade unions for the first time in December, damaging
bookings and forcing it to consider cutting short-term growth
plans if labor unrest continues.

5. Streaming service
Netflix plans to double its investments in France
and produce
14 local shows, twice as many as previously planned, chief
executive Reed Hastings said Friday. Hastings did not disclose
how much Netflix would invest in France, though it would be “many
millions of euros”, he told French radio station BFM Business.

6. Italy’s government on Thursday
targeted the budget deficit at 2.4% of gross domestic product

for the next three years, defying Brussels and marking a victory
for party chiefs over economy minister Giovanni Tria, an
unaffiliated technocrat. Tria had initially wanted a deficit set
as low as 1.6% next year, hoping to respect European Union
demands that Italy progressively cut the fiscal gap to rein in
its high debt.

7. Global
mergers and acquisitions dropped
to $783 billion in the third
quarter, down 35% from the prior quarter, as the escalating trade
dispute between the United States and China cast a shadow on the
financial and regulatory prospects of some deals.

8. Britain’s biotechnology industry
has raised a bumper £1.56 billion ($2.05 billion) in the first
eight months of this year,
surpassing the £1.2 billion
reached in the whole of 2017, despite anxiety in the sector about
the fallout from Brexit. The increase has been fueled by recent
changes to venture capital tax incentives, according to UK
BioIndustry Association (BIA) CEO Steve Bates, as well as global
investor enthusiasm for drug discoveries emanating from biotech
labs.

9.
Macquarie Bank CEO Nicholas Moore has been implicated
in a
financial investigation by German authorities. The inquiry
concerns a complex dividend trading scheme that is currently the
subject of civil litigation. In a statement to the ASX this
morning, Macquarie said the Cologne Prosecutor’s Office is
expected to speak with at least 30 senior staff members involved
in the deal.

10. Sword-wielding headhunter: A senior executive at one of Wall
Street’s top recruiting firms was
arrested for allegedly slashing a bride with a sword
after a
dispute broke out. Luckily, the bride suffered non-life
threatening injuries to her arm. The man, however, now faces
multiple charges and has been suspended without pay, pending the
result of the investigation.

Source link

more recommended stories

  • Google suspended some business with Huawei after Trump blacklist

    NEW YORK (Reuters) – Alphabet Inc’s.

  • OnePlus 6T review: Why it’s better than expensive flagship phones

    The OnePlus 6T runs on the.

  • Tony Robbins recorded telling woman she was ‘lying’ about abuse

    According to an investigation from BuzzFeed.

  • Adidas is releasing another pair of ‘Game of Thrones’ sneakers

    Following up on their hit UltraBOOST.

  • How to make people like you immediately

    According to the “mere-exposure effect,” people.

  • Fifth grader who told classmates to stop doing the Nazi salute was pulled out of class

    An elementary school in Tennessee will.

  • Scientists develop light-activated bio-glue that could seal fatal wounds in seconds

    A new ‘biological glue’ developed by.

  • Joshua Jones speaks out after helping disarm STEM School Highlands Ranch shooter

    One of three students who helped.

  • Helicopter crashes into New York’s Hudson River

    A helicopter has crashed into the.

  • Apple’s Supreme Court loss could harm its App Store business

    Thanks to the Supreme Court, Apple.

  • How to allow pop-ups in Google Chrome from all sites or specific ones

    Pop-ups can be the scourge of.

  • Uber’s CEO sent an email to employees addressing its disastrous IPO, drawing on Amazon’s and Facebook’s rough starts (UBER)

    Getty/Spencer Platt Uber CEO Dara Khosrowshahi.

  • Watch Winnie the Pooh meet the royal family in a new video

    Disney is celebrating the birth of.

  • Times celebrities got accused of lip syncing

    One of the most legendary instances.

  • Uber CEO Dara Khosrowshahi is part of a family of impressive techies

    Led by CEO Dara Khosrowshahi, ride-sharing.

  • All the food Miss USA typically eats in a day

    On May 2, Cheslie Kryst was.

  • Where do billionaires live? Top 15 cities for billionaires worldwide

    Billionaires are increasingly becoming concentrated in.

  • House Democrats overplayed their hand to get the full Mueller report

    The war between the White House.

  • How to use Google Maps offline

    Where would we be without Google.

  • Anna Delvey: Fake heiress sentenced to prison for up to 12 years

    Socialite scammer Anna Delvey was sentenced.

  • Here’s everything the US military is sending to take on Iran

    The US military is sending a.

  • Advertising and Media Insider newsletter May 8

    The Amazon office in New York..

  • Trump’s tax info show his businesses lost so much money over a decade

    President Donald Trump’s tax information covering.

  • Bloody Israel-Gaza attacks signal a violent resurgence

    Deadly violence between Israel and Gaza.

  • Trump threatens 25% tariff, escalate China trade war

    President Donald Trump on Sunday threatened.

  • Plane makes emergency landing at Moscow airport, busts into flames

    41 people were killed after an.

  • Brunei says it 'will not enforce gay death penalty after global backlash'

    Brunei’s Sultan Hassanal Bolkiah has said.

  • New York City Mayor Bill de Blasio 2020 bid, negative favorability

    New York City Mayor Bill de.

  • A Tesla Model S caught fire in a San Francisco garage

    A Tesla Model S sedan caught.

  • Up to 1 million species at risk of extinction, upcoming report says

    An ever-growing body of evidence suggests.

  • Juul Labs reportedly purchasing downtown San Francisco high-rise

    Juul Labs, an e-cigarette startup that.

  • The Trump administration joins states’ efforts to overturn Obamacare

    NEW ORLEANS (AP) — Taking a.