The daily business briefing: August 8, 2016

Computer outage delays Delta flights worldwide, U.S. jobs report lifts global stocks, and more

The Delta logo
(Image credit: Andrew Burton/Getty Images)

1. Delta flights slow to get off the ground after global computer outage

Delta Airlines jets

(Image credit: KAREN BLEIER/AFP/Getty Images)

Delta Airlines said Monday that a system-wide computer outage was keeping its passengers from checking in and grounding its departures around the world. "Our systems are down everywhere," the No. 2 U.S. airline said via Twitter. Flights that were already in the air when the glitch hit were operating normally, but those scheduled to leave early Monday were delayed, affecting tens of thousands of passengers. By 8:30 a.m. ET, "limited" flights had resumed, but Delta, which operates 5,000 flights per day, has warned customers to still expect continued delays and cancellations. Its stock dropped by two percent in pre-market trading.

Reuters MarketWatch

2. U.S. jobs report lifts global stocks

Global stocks gained on Monday after Friday's strong U.S. jobs report boosted confidence in the health of the world's biggest economy. European indexes gained around 1.5 percent; Japan's Nikkei 225 jumped by 2.4 percent. U.S. stocks surged to record highs on Friday after the Labor Department reported that U.S. employers added 255,000 jobs in July, smashing expectations. "It is easy to check off good-news boxes within this stellar jobs report and tough to find any negatives," Stephen Innes of OANDA said in a report.

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The Associated Press

3. Airbus faces corruption investigation

Britain's top corruption busting agency is investigating Airbus over its use of third-party consultants in jet-sale negotiations, the company said Sunday. The company said the Serious Fraud Office inquiry focuses on allegations of fraud, bribery, and corruption in its passenger-jet business. Airbus, the world's No. 2 plane maker behind Boeing, said it was cooperating with investigators.

The Wall Street Journal CNBC

4. Amazon Japan offices searched in antitrust investigation

Japan's Fair Trade Commission has raided Amazon Japan's offices on suspicion of antitrust law violations, a spokesman for the antimonopoly watchdog said Monday. The investigation, first reported in the Nikkei business daily, was launched on suspicion that the Japanese arm of the online retail giant had forced sellers to offer lower prices on its site than elsewhere. A spokeswoman for Amazon Japan declined to comment.

Reuters The Wall Street Journal

5. Suicide Squad shakes off negative reviews to lead box office

Suicide Squad broke the box office record for an August open over the weekend despite negative reviews. The Warner Bros. big-budget superhero movie hauled in $135.1 million in the U.S. and Canada, smashing the previous record of $94.3 million set two years ago by Walt Disney Co. and Marvel's Guardians of the Galaxy. The big opening for Suicide Squad was boosted by its ensemble cast, led by Will Smith and Margot Robbie.

MarketWatch

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Harold Maass, The Week US

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.