BUSINESS NEWS MARCH 13, 2016
ASIA RALLIES AROUND WALL STREET GAINS
Gains on Wall Street led to a climb in Asian shares on Monday. Investors took another look at the stimulus plan proposed by the European Central Bank due to a peak in the S&P 500 index on Friday. Japanese shares also jumped, as the MSCI index for shares outside Japan increased 0.4% and Japan’s Nikkei increased 1.5%. The Central Bank of Japan has recently implemented negative interest rates, and the BOJ will hold a policy meeting on Monday to decide whether $90 million in reserves will be exempt from that interest rate.
THREE COMPANIES TO COMPLETE CUBA DEALS
With President Obama’s visit to Cuba coming up soon, three major companies are looking to complete deals in the Caribbean country. AT&T, Starwood Hotels, and Marriott are all working to finalize deals. While AT&T declined to comment, Starwood and Marriott are both optimistic that they will be given the green light by Cuba. Should they complete the deals, it will be beneficial for Obama, as he will have evidence to back up the lifting of the Cuban embargos.
EX VW EMPLOYEE SUES OVER DATA DELETION
An employee for the German automobile manufacturer claims he was wrongly fired from their post due to his alleged flagging of illegal data deletion. While the report did not include the specific type of data deleted, the ex-employee said that it was in relation to the ongoing emissions scandal. Volkswagen is currently embroiled in several lawsuits over an illegal amount of emission coming from its cars. Since September 18th, the automobile company has been understating the amount of pollution that comes from its cars.