TOKYO (AP) — International stock markets sagged today as pessimism about global growth spread following a decline on Wall Street overnight and a strengthening yen, which dampened prospects for export-oriented Japan. Futures point to gains at this morning’s Wall Street open. Benchmark U.S. crude oil fell to just over $87.50 a barrel. The dollar fell against the yen and the euro.
PARIS (AP) — Air France-KLM says a 14-day pilots’ strike that grounded about half the airline’s flights cost the company 500 million euros ($631 million). The company gave the estimate in a statement today and said it hoped to accelerate development of Transavia, a low-cost affiliate that was at the center of the standoff. The pilots union objected to the proposed labor conditions.
WASHINGTON (AP) — Amazon.com goes before the nation’s highest court today to argue a case brought by former warehouse workers who say they should be paid for the 25 minutes it sometimes takes to clear security after each shift. If the Supreme Court rules in their favor it could mean billions in retroactive pay. It could affect other companies where workers have to pass security.
WASHINGTON (AP) — The Army has awarded $80 million in helicopter contracts to Wall Street executive Lynn Tilton even as the Justice Department is investigating whether she played by the rules to win earlier military work. The Justice Department inquiry is focused on Tilton’s hiring of a former Army officer who allegedly steered millions of dollars in contracts to MD Helicopters while the pair negotiated his future employment.
WASHINGTON (AP) — The Federal Reserve is due to release notes on its latest policy setting meeting this afternoon. Investors will be looking for signs of when the Fed might raise interest rates. The first rate increase is not expected until the middle of next year. Monsanto and Alcoa report quarterly results.
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