Global Glance: United lambasted over man dragged off plane; Yellen says economy close to achieving Fed goals

Powered by The Associated Press

Here are today’s top business headlines from across the nation and world:

Chicago, United lambasted over man dragged off plane

CHICAGO (AP) — Several minutes after a passenger recorded a video watched around the world that showed security officers dragging another passenger off an overbooked United Express flight at Chicago’s O’Hare International Airport, a smaller snippet of video showed an even more troubling scene. There stood the passenger who had been dragged on his back to the front of the plane, appearing dazed as he spoke through bloody lips and blood that had spilled onto his chin. The treatment of the passenger on Sunday night prompted outrage and scorn on social media, and anger among some of the passengers on the flight as the unidentified man was evicted. Read more

Fed Chair Yellen says economy close to achieving Fed goals

ANN ARBOR, Michigan (AP) — Federal Reserve Chair Janet Yellen said Monday that the central bank is close to achieving its goals on employment and inflation. Her remarks could be seen as providing support for gradual increases in interest rates. While expressing satisfaction with how the economy is performing, Yellen did voice concerns about moves in Congress to limit the Fed’s independence. Yellen told an audience at the University of Michigan that unemployment is now below the point the Fed views as full employment, dipping to 4.5 percent in March. A key inflation gauge is moving toward the Fed’s 2 percent target for price stability. Read more

Toyota announces $1.33 billion investment in Kentucky plant

LOUISVILLE, Ky. (AP) — Toyota said Monday it is investing $1.33 billion to retool its sprawling factory in Georgetown, Kentucky, where the company’s flagship Camry sedans are built. No new factory jobs are being added, but Toyota says the upgrades amount to the biggest single investment ever at one of its existing plants in the United States. The retooling also will sustain the existing 8,200 jobs at Toyota’s largest plant, where about one-fourth of all Toyota vehicles produced in North America are made, the automaker said. Read more

Regulators find lots of ‘fake news’ aimed at stock investors

WASHINGTON (AP) — “Fake news” is not limited to presidential politics and conspiracy theories. Investors also have to be on the alert for stock promotions masquerading as unbiased reports online. Federal regulators have brought civil fraud charges against 27 businesses and individuals for deceiving investors into believing what they were reading on websites were independent, impartial analyses of stocks. Read more

Wells Fargo claws back $75 million from top execs in sales scandal

NEW YORK (AP) — The problems at Wells Fargo and its overly aggressive sales culture date back at least 15 years, and management had little interest in dealing with the issue until it spiraled out of control resulting in millions of accounts being opened fraudulently, according to an investigation by the company’s board of directors. The bank’s board also clawed back another $75 million in pay from two former executives, CEO John Stumpf and community bank executive Carrie Tolstedt, saying both executives dragged their feet for years regarding problems at the second-largest U.S. bank. Read more

Chinese auto sales weaken sharply in March after tax rise

BEIJING (AP) — Growth in China’s auto sales plunged in March as demand for SUVs weakened and purchases of sedans contracted, an industry group reported Tuesday. Sales of cars, minivans and SUVs in the biggest market by number of vehicles sold rose 1.7 percent from a year earlier, according to the China Association of Automobile Manufacturers. That was down from 6.3 percent growth in the first two months of the year. Read more


Trump jobs demands force automakers into political conflict

DETROIT (AP) — President Donald Trump’s relentless push for more manufacturing jobs has forced the auto industry into a delicate dance of contradictions in order to keep him happy, tell the truth, and avoid alienating customers in both red and blue states. Toyota did the waltz with Monday’s announcement that it would spend $1.33 billion to retool its gigantic factory in Georgetown, Kentucky, an investment in the heart of Trump country that has been planned for years. Trump wasn’t included in a company statement sent on Friday in advance of the announcement, but Kentucky’s governor and both of the state’s U.S. senators were quoted. In a paragraph added Sunday evening, Trump claimed credit for the investment, saying it is “further evidence that manufacturers are now confident that the economic climate has greatly improved under my administration.” Read more


Want the state’s top business and entrepreneurship news in your inbox? Sign up here for our newsletters.

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students