FINANCIAL MARKETS

Global markets soar after French election

NEW YORK (AP) — U.S. stocks joined a worldwide rally today after results from the first round of France’s presidential election raised expectations that the European Union would hold together. A candidate seen as pro-business won the most votes Sunday, and many investors expect him to win a runoff against the remaining anti-EU candidate, which is set for May 7.

Prices for gold, Treasurys and other investments that signal fear in the market all sank, while the euro’s value surged against the dollar.

At 12:56 p.m. Eastern Time, the Dow Jones industrial average rose 209 points, to 20,757.

The S&P 500 index jumped 23 points, to 2,371.

And the Nasdaq composite surged 66 points, to 5,977.

SUPREME COURT-GM-IGNITION

Justices turn away GM appeal over ignition switches

WASHINGTON (AP) — The Supreme Court has turned away an appeal from General Motors Co. seeking to block dozens of lawsuits over faulty ignition switches that could expose the company to billions of dollars in additional claims.

The justices today left in place a lower court ruling that said the automaker’s 2009 bankruptcy did not shield it from liability in the cases.

A federal appeals court ruled last year that GM remains responsible for ignition-switch injuries and deaths that occurred pre-bankruptcy because the company knew about the problem for more than a decade but kept it secret from the bankruptcy court.

The company said well-established bankruptcy law allowed the newly reorganized GM to obtain the old company’s assets “free and clear” of liabilities.

AKZO NOBEL-PPG

PPG Industries ups bid for Akzo Nobel to $28.8B

NEW YORK (AP) — PPG Industries is boosting its offer for Akzo Nobel, looking to buy the industrial paints and chemicals company in a cash-and-stock deal valued at about $28.8 billion.

PPG previously offered to buy Akzo Nobel for $22 billion, but the bid was rejected.

PPG says it’s prepared to make some divestitures if needed to complete the transaction.

PPG Industries, based in Pittsburgh, says it wouldn’t relocate any of Akzo Nobel’s European production plants to the U.S.

UNITED-PASSENGER REMOVED

Lawyer: Doctor dragged from flight plans to file lawsuit

NEW YORK (AP) —A lawyer for the Kentucky doctor who was dragged from a United Express flight says it’s too late for the airline’s CEO to apologize face-to-face and that his client intends to file a lawsuit.

Attorney Thomas Demetrio, who represents 69-year-old Dr. David Dao, made the comments Monday during an appearance on NBC’s “Today” show.

Demetrio said United CEO Oscar Munoz had the opportunity to apologize and didn’t, called Dao belligerent, and then finally issued an apology. Demetrio has said previously that he and his client accepted the airline CEO’s public apology but think it was insincere.

Dao was dragged off a flight in Chicago April 9 by airport police after he refused to give up his seat on the full plane to make room for crew members.

ITALY-ALITALIA

Alitalia workers wrap up voting on deal to save airline

ROME (AP) — Alitalia employees have wrapped up voting on a government-brokered deal to save Italy’s flagship airline from bankruptcy.

Some 12,500 Alitalia workers began voting last week on whether to accept a package offering less drastic wage cuts and fewer layoffs than first proposed. Parent company Etihad Airways wants the cost-cutting in hopes of securing 2 billion euros ($2.1 billion) in investment to keep the airline afloat.

Premier Paolo Gentiloni has said without a deal, Alitalia won’t survive.

The deal would cut flight crews’ wages by an average of 8 percent and see some 980 permanent workers laid off.

Economic Development Minister Carlo Calenda had warned that a no-vote would lead to six months of extraordinary administration followed by bankruptcy.

Union leaders urged workers they described as understandably angry to vote yes.

QATAR-US AIR TRAVEL

Qatar Airways sees ‘manageable’ decline in flights to US

DUBAI, United Arab Emirates (AP) — The CEO of Qatar Airways, one of the Middle East’s largest carriers, says passenger numbers to the United States have dipped slightly over fears by some Muslim passengers that their visas may be rejected upon arrival.

CEO Akbar al-Baker says uncertainty about travel to the United States is “affecting the business, but to a very small extent.” But he’s also expressing confidence in President Donald Trump as a “very good businessman.”

Emirates, the Middle East’s largest airline, slashed its flights to the United States by 20 percent last week.

Dubai, where Emirates is based, and Doha, Qatar Airways’ main hub, are among the 10 cities in Muslim-majority countries affected by a ban on laptops and other personal electronics in carry-on luggage aboard U.S.-bound flights.

BRITAIN-JIMMY CHOO

Luxury shoe brand Jimmy Choo goes up for sale

LONDON (AP) — Shares in Jimmy Choo have leapt 11 percent after its board put the luxury shoe brand up for sale.

The gains bring the market value of the firm that began in east London to more than 700 million pounds ($896 million).

The firm, which counts Jennifer Lopez, the Duchess of Cambridge and Beyonce among its fans, is being sold to “maximize value for its shareholders.”

JAB Luxury, the brand’s biggest shareholder with a 67 percent stake, has offered its support for the process. The company says there is no certainty an offer will be made.

The company, with 150 stores worldwide, saw annual revenues climb 15 percent to 364 million pounds in the year ending in December.

BANGLADESH-GARMENT FACTORIES

Report: Companies not complying with Bangladesh garment plan

DHAKA, Bangladesh (AP) — Dozens of global clothing companies are not complying with a plan to ensure better safety in Bangladesh garment factories following the deadly collapse of a building four years ago. That’s according to Human Rights Watch.

The New York-based rights group says in a report that only 29 out of 72 recently contacted companies are releasing information about how they source their products in Bangladesh, and that “many brands have held out completely.” The group says it makes it impossible to hold the companies accountable for ensuring safe conditions at factories they work with.

Bangladesh’s garment industry has invested more than $1 billion in safety improvements since April 24, 2013, when the Rana Plaza garment factory complex collapsed outside Dhaka, killing more than 1,130 workers and injuring 2,500.

LAFARGE-CEO RESIGNS

Cement multinational CEO resigns after Syria deals

GENEVA (AP) — The top executive of LafargeHolcim says he’ll resign, citing “strong tensions” facing the Swiss-French cement maker since its admission last month that it had struck deals with armed groups in Syria — allegedly including the radical Islamic State group.

The world’s largest cement maker said an internal investigation concluded that CEO Eric Olsen was not responsible for or aware of any wrongdoing linked to now-discontinued Syria operations. LafargeHolcim announced the internal probe last month as it acknowledged having funneled money to armed groups in 2013 and 2014 to guarantee safe passage for employees and supply its multimillion-dollar plant there.

LIVE VIDEO MADE EASY

Dish unveils $999 system to make live online video easier

NEW YORK (AP) — Dish, a company known largely for its old-school satellite TV, is now trying to make it easier for people to stream quality video live over YouTube and Facebook.

Dish is unveiling a wireless device, SlingStudio, meant to enable multi-camera productions without high-end equipment. The wireless device collects video from up to 10 smartphones and traditional cameras as they are being shot. An iPad app lets you choose which video and audio feed to broadcast at any given moment. The app also has tools for transitions and text overlays.

The setup is easy for anyone to use — but the price tag will put it out of reach for many. It’s still cheaper than professional equipment, the main device costs $999. While smartphones already have wireless capabilities, camcorders and other stand-alone cameras will need a $349 wireless adapter. Three-hour battery packs cost another $149 each; otherwise, you need to plug in the SlingStudio.

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