The daily business briefing: February 9, 2016
U.N. panel proposes first airline emission standards, Verizon explores bid for Yahoo, and more
1. U.N. panel proposes first emissions standards for airliners
The International Civil Aviation Organization on Monday proposed the first greenhouse gas emissions standards for airliners and cargo planes. The rules would impose standards for new aircraft designs beginning in 2020. The standards still have to be approved by the agency's 36-nation governing council. The White House praised the move, but some environmentalists said it was too weak to slow climate change.
2. Verizon explores bid for Yahoo assets
Verizon is considering making a bid for struggling internet pioneer Yahoo, Bloomberg reported Monday, citing a source close to the matter. Verizon executives have been acknowledging interest in buying Yahoo assets as far back as December. Now the telecommunications giant reportedly has assigned Tim Armstrong, CEO of the AOL unit Verizon acquired in May 2015, the job of exploring a Yahoo deal.
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3. Global markets continue sliding as fears drag down financial stocks
U.S. stock indexes headed down steeply on Monday as fears over global economic troubles hit bank shares. A late rally by energy company stocks helped American markets pare their losses. The Dow Jones Industrial Average ended the day down 1.1 percent. The S&P 500 finished down by 1.4 percent, while the Nasdaq lost 1.8 percent. Japan's Nikkei index fell by more than 5 percent on Tuesday.
4. Google CEO Sundar Pichai gets $199 million stock grant
Google Chief Executive Sundar Pichai received a stock grant worth $199 million last year, according to a regulatory filing by Google parent Alphabet. The arrangement made Pichai the highest paid CEO in the U.S. in 2015, beating Discovery Communications' David Zaslav, who got $156 million. Pichai, a former deputy of Google co-founder Larry Page, took over as head of the search-engine unit when Google was restructured under the Alphabet holding company last year.
5. TV audience for Sunday's Super Bowl third biggest ever
About 111.9 million viewers tuned in to CBS for Super Bowl 50 on Sunday, making it the third most-watched show in U.S. TV history. The matchup between the Denver Broncos and the Carolina Panthers trailed the 2015 and 2014 Super Bowls, which had 114.4 million viewers on NBC and 112.2 million viewers on Fox, respectively. Viewership peaked between 8:30 and 9 p.m. ET, when Beyoncé and Bruno Mars joined Coldplay for the halftime show.
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Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.
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