Asian stocks mixed after late slump on Wall Street
UNDATED (AP) — Asian shares are mixed after a late drop left major Wall Street indexes mostly lower.
Tokyo was closed today for a holiday. Hong Kong and Seoul declined while Shanghai advanced.
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On Monday, the S&P 500 ended 0.3% lower. The Nasdaq fell 1.3% and the Dow Jones Industrial Average eked out a tiny gain. The market was higher for much of the day as traders were relieved to learn President Joe Biden would renominate Jerome Powell to another term as chair of the Federal Reserve.
The price of gold, a haven for when investors feel anxious, fell. The dollar rose against the yen and oil prices declined.
Gun makers ask court to dismiss Mexican government lawsuit
BOSTON (AP) — Gun manufacturers have asked a federal court in Massachusetts to dismiss a lawsuit filed by Mexico’s government arguing U.S. gun manufacturers and distributors fueled violence in Mexico through their negligent and illegal commercial practices.
Gun maker Beretta U.S.A. Corp. argued Monday that there’s no basis for the court to exercise jurisdiction over Beretta in the case. The Mexican government argued the companies know their practices contribute to the trafficking of guns to Mexico and facilitate it. The government demanded changes in how the companies do business and compensation for the costs of the violence.
UNITED STATES-NORD STREAM 2
US announces more sanctions over Russian gas pipeline
WASHINGTON (AP) —The State Department is keeping up pressure on Russia over a Russian pipeline project in Europe that the United States opposes.
The State Department announced sanctions Monday on what it said was a business with Russian links involved in the Nordstream 2 project.
In a statement, Secretary of State Antony Blinken said the Biden administration has now targeted eight people and 17 vessels involved in the pipeline. Russia-controlled gas giant Gazprom owns the pipeline, which will carry Russian gas to Germany. The United States opposes the energy project on the grounds it will increase Russian leverage in Europe.
CHACO CANYON-OIL AND GAS
Interior head: Chaco protections ‘millennia in the making’
CHACO CULTURE NATIONAL HISTORICAL PARK, N.M. (AP) — U.S. Interior Secretary Deb Haaland met with state and tribal leaders Monday in northwestern New Mexico where a battle has waged for decades over oil and gas development. Haaland reflected on actions her agency took last week to curb new leasing around Chaco Culture National Historic Park.
She says the celebration was “millennia in the making.” While Navajo leaders support preserving parts of the area, they say individual Navajos stand to lose a source of income if a proposed buffer is created. The area holds significance for many Indigenous people in the Southwest. Haaland is a member of Laguna Pueblo.
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Elizabeth Holmes makes her case to the jury in fraud trial
SAN JOSE, Calif. (AP) — Fallen Silicon Valley star Elizabeth Holmes returned to the witness stand on Monday to tell a story likely to determine whether she is convicted or acquitted of criminal charges alleging she duped investors and patients into believing she had invented a breakthrough in blood-testing technology.
Holmes spent most of her time discussing documents extolling the effectiveness of a small blood-testing device made by Theranos, a startup founded in 2003. She also seized on opportunities to make eye contact with the jury that will decide her fate. If convicted of the fraud charges facing her, Holmes could be sentenced to up to 20 years in prison.
ORGANIZED RETAIL THEFT-CALIFORNIA
Organized thieves hit high-end Bay Area stores amid trend
SAN FRANCISCO (AP) — Groups of thieves ransacked jewelry and high-end clothing stores throughout the San Francisco Bay Area over the weekend, shocking holiday shoppers and prompting concerns about the busy retail season.
The mob attacks are believed to be part of sophisticated criminal networks that recruit mainly young people to steal merchandise then sell it in online marketplaces. Experts and officials say the thefts are happening nationwide and are ratcheting up as the holiday shopping season gets underway. Police promised to step up patrols in retail areas and Gov. Gavin Newsom said the state would provide additional resources to help cities and counties.
Newsom names energy adviser as state’s top utility regulator
SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom has named his senior adviser on energy policy as the next president of the powerful state body that regulates utilities. Alice Reynolds is set to lead the five-member California Public Utilities Commission starting Dec. 31.
The job requires Senate confirmation, but that’s often a formality. The commission plays a significant role in monitoring utilities like Pacific Gas & Electric as they grapple with wildfire safety and power shutoffs. It also oversees telecommunications, rail, water and transportation companies like Uber and Lyft. Reynolds has a long history in energy policy.
Boston mayor divests vulnerable city from fossil fuels
BOSTON (AP) — Boston Mayor Michelle Wu has signed an ordinance designed to divest the city from fossil fuels.
The ordinance signed Monday by the new mayor will prohibit the use of public funds from being invested in the stocks, securities or other obligations of any company which derives more than 15% of its revenue from fossil fuels. The ordinance also extends to companies deriving more than 15% of revenue from tobacco products or private prison industries. Wu said the move is the culmination of a push to distance Boston from the fossil fuels that are helping drive the climate change that is threatening the coastal city.
Trans Netflix workers drop labor complaint but one resigns
LOS ANGELES (AP) — Two former Netflix employees who raised concerns about anti-transgender comments on Dave Chappelle’s TV special are dropping labor complaints and one has resigned from the company.
Terra Field, a senior software engineer who is trans, announced a voluntary resignation on Monday. Field and B. Pagels-Minor also are dropping a National Labor Relations Board complaint that claimed retaliation.
Chappelle’s “The Closer” first aired on Oct. 1 and gained millions of views. However, Chapelle’s remarks about the transgender community raised protests within Netflix and from LGBTQ activists. Netflix fired Pagels-Minor last month for allegedly disclosing confidential information, which they’ve denied.
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