The daily business briefing: November 7, 2016

1. Dollar gains as FBI clears Clinton over latest emails

The dollar rallied early Monday, gaining more than 1 percent against the Japanese yen after the FBI said its review of newly discovered emails potentially linked to Hillary Clinton's private email server did not change its conclusion that no charges were justified over her handling of government secrets. Comey's announcement that the emails had been uncovered sparked turmoil in the presidential race days ahead of Tuesday's election. The development dragged down markets as investors factored in a greater chance that Clinton, a familiar figure, might lose to her Republican rival Donald Trump, who represents uncertainty for global markets. The Mexican peso, which has fluctuated in the reverse direction of Trump's fortunes, also jumped.

MarketWatch

2. Deal reached to end Philadelphia transit strike

The Southeastern Pennsylvania Transportation Authority (SEPTA) and union leaders announced early Monday that they had reached a deal to end a six-day transit strike. The strike affected subway, trolleys, and buses, and threatened to prevent some voters from reaching polls in Tuesday's election, which could have had a significant impact in a key swing state. The two sides agreed to a tentative five-year contract for 4,738 transit workers. The deal still must be formally approved by SEPTA's board and union members, but employees are expected to resume work immediately.

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The Philadelphia Inquirer

3. Samsung to introduce its AI answer to Siri

Samsung Electronics shares rose by more than 1 percent on Monday after the South Korean electronics giant revealed that its next Galaxy S smartphones would include a digital assistant to rival Apple's Siri. Samsung last month acquired Viv Labs, a U.S.-based artificial intelligence software company. Samsung, looking to bounce back from the recall and cancellation of its Galaxy Note 7 smartphone due to the potential for battery fires, said its AI features would be "significantly" different from those offered by Apple and Google.

Bloomberg

4. Oil prices rise as OPEC reaffirms commitment to output cut

Oil prices rose by more than 1 percent on Monday after OPEC reiterated its commitment to a deal to trim output. The pact is considered to be a key step toward easing a global oil glut and lifting prices. Despite Monday's gains, crude oil prices remained just over $46 a barrel for Brent crude and just under $45 for U.S. benchmark West Texas Intermediate. Those prices remain more than $7 a barrel below last month's high, largely because of doubts over OPEC's ability to pull off an output cut significant enough to stabilize the market.

Reuters

5. VW supervisory board chairman under scrutiny in diesel scandal inquiry

German prosecutors have expanded their investigation into suspected market manipulation by Volkswagen managers to include supervisory board chairman and former chief financial officer Hans Dieter Poetsch, the German carmaker said Sunday. The inquiry into whether VW failed to adequately inform investors about the issue is the latest wrinkle in a scandal that began last year when VW admitted that it had installed special software in 11 million diesel vehicles worldwide to cheat on emissions tests.

USA Today Reuters