Update on the latest in business:

FINANCIAL MARKETS

Asian shares mixed as OPEC talks stalemate

TOKYO (AP) — Asian shares are mixed as oil prices surge after a meeting of oil producing nations was postponed, and little else guided markets after the U.S. Independence Day holiday.

Benchmarks in Japan and South Korea edged higher, while those in China and Australia declined.

Investors have been trimming holdings of Chinese technology company shares as Beijing tightens oversight of the industry. Talks among members of the OPEC cartel and allied oil producing countries have broken off in the midst of a standoff with the United Arab Emirates over production levels. That has raised worries that failure to reach agreement could trigger swings in oil prices, adding to uncertainties as the pandemic drags on.

AMAZON-BEZOS

Amazon begins new chapter as Bezos hands over CEO role

NEW YORK (AP) — Amazon founder Jeff Bezos has officially stepped down as CEO of the company he started out of his Seattle garage in 1995.

Andy Jassy, the head of Amazon’s cloud-computing business, is replacing him. The company announced the change in February. Bezos takes over the role of executive chair, with plans to focus on new products and initiatives. Jassy inherits the helm of a $1.7 trillion company that benefited greatly from the pandemic. But he does face challenges, including growing calls for tighter regulation on tech giants.

CYBERSECRITY-KASEYA-RANSOMWARE-ATTACK

Fallout continues from biggest global ransomware attack

BOSTON (AP) — The single biggest global ransomware attack yet continues to bite as more details emerge on how a Russia-linked gang breached the company whose software was exploited.

In essence, the criminals used a tool that helps protect against malware to spread it widely. Thousands of victims have been identified in at least 17 countries, with ransom demands of up to $5 million reported. The attack comes less than a month after President Joe Biden pressed Russian President Vladimir Putin to stop providing safe haven to ransomware gangs including the one responsible for the latest attack.

MEXICO-GULF GAS FIRE

Mexico: Lightning storm ignited gas leak in Gulf

UNDATED (AP) — Mexico’s state-owned oil company says a bizarre chain of events, including a lightning storm and a gas pipeline leak, set off a strange subaquatic fireball seen last week in the Gulf of Mexico.

Petroleos Mexicanos said Monday that an intense storm of rain and lightning forced the company to shut off pumping stations serving the offshore rig near where the fire occurred. It said that simultaneously, the leak at an underwater pipeline allowed natural gas to build up on the ocean floor and when it rose to the surface, it was probably ignited by a lightning bolt. Pemex said Monday that no crude oil had spilled.

CROATIA-BUGATTI

Supercar maker Bugatti taken over by Croatian company Rimac

ZAGREB, Croatia (AP) — Croatia’s electric supercar maker is taking over the iconic French manufacturer Bugatti in a deal that is reported to be worth millions of euros.

The Croatian car producer, Rimac (REE’-mak) Automobili, says that Germany’s Volkswagen Group, including the Porsche division — which owns a majority stake in Bugatti — is to create a new joint venture. The new company will be called Bugatti-Rimac.

Rimac announced it’s combining forces with Bugatti to “create a new automotive and technological powerhouse.” Porsche will own 45% of Bugatti-Rimac while Rimac Automobili will hold the remaining 55% stake.

Bugattis will continue to be assembled in eastern France, where the company was established in 1909.

VIRUS OUTBREAK-ISRAEL-SOUTH KOREA

Israel to ship 700K Pfizer doses to South Korea in swap deal

JERUSALEM (AP) — Israel is sending thousands of coronavirus vaccine doses to South Korea in exchange for a future shipment of vaccines from South Korea to Israel.

Officials in both governments say that Israel will transfer about 700,000 doses of the Pfizer vaccine to South Korea. That country would send the same number of doses to Israel in September.

The agreement will “reduce the holes” in the vaccine’s availability. Bennett says he personally negotiated the deal with Pfizer CEO Albert Burla, the first such agreement between Israel and another country. The Palestinian Authority rejected a similar shipment from Israel last month because it said the doses were too close to expiring.

OBIT-RICHARD DONNER

`Superman,’ `Lethal Weapon’ director Richard Donner dies

BURBANK, Calif. (AP) — The filmmaker who turned Christopher Reeve into “Superman” and Mel Gibson and Danny Glover into cop buddies in “Lethal Weapon” has died.

His wife told the Hollywood trade publication Deadline that Richard Donner passed away Monday. He was 91. Donner’s other credits include “The Goonies,” “Scrooged” and the “Lethal Weapon” franchise.

Donner was never nominated for an Oscar, but he got a chance to thank the academy when it held a tribute in his honor in 2017. Donner is survived by his wife and production partner, Lauren Shuler Donner. In 1993, they founded The Donners Company, which has produced such hits as “Deadpool,” “The Wolverine” and the “X-Men” franchise.

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