The daily business briefing: January 30, 2017
Uncertainty over Trump immigration policy hits stocks, Uber faces backlash for not supporting strike against Trump's refugee ban, and more
Stocks dip as investors fret over impact of Trump immigration policies
Stocks dropped in Asia and Europe on Monday due to uncertainty over President Trump's ban on travel from seven predominantly Muslim nations. Germany's DAX dropped by 0.6 percent and Britain's FTSE 100 fell by 0.9 percent. U.S. markets appeared headed for a slightly lower open as Dow futures edged down by 0.2 percent and S&P futures fell by 0.3 percent. Trump's 90-day travel ban and a 120-day suspension of a refugee program raised fears of negative impacts on airlines and tech companies that depend on highly skilled foreign workers.
Uber faces protest for failure to support strike against Trump refugee ban
Uber is facing a boycott movement started by Twitter users over its decision to continue operating while taxi drivers went on strike at New York's John F. Kennedy International Airport to protest President Trump's refugee ban. On Sunday morning, Uber rival Lyft capitalized on the controversy by pledging a $1 million donation to the American Civil Liberties Union, which won a stay on the policy to provide relief to refugees and others with valid visas who were already in transit from the seven Muslim-majority nations covered by Trump's policy.
Delta planes delayed by computer glitch
Delta Air Lines grounded all of its U.S. flights for more than two hours on Sunday due to a computer problem, delaying about 150 flights. The Federal Aviation Administration said international flights were not affected by the automation issue. Domestic flights that were already in the air when the problem arose were not affected, either. A Delta spokesman, Morgan Durrant, apologized to travelers and said teams were "expeditiously working to fix a systems outage that has resulted in departure delays for flights on the ground."
Airbnb offers shelter to people stranded by Trump travel ban
Airbnb said on Sunday that it was offering free accommodation to people stranded by President Trump's executive order restricting travel to the U.S. by people from seven majority-Muslim nations. Airbnb chief executive Brian Chesky said the restrictions on refugees were "not right." "We must stand with those who are affected," Chesky said. Technology firms that hire thousands of immigrants from Arab and South Asian nations also expressed opposition to Trump's policy. Netflix CEO Reed Hastings said the actions were "so un-American it pains us all." The White House said the 90-day travel ban for nationals from Iran, Iraq, Libya, Somalia, Sudan, Syria, and Yemen was necessary to make sure the government can keep out terrorists.
A Dog's Purpose falls short of projections at the box office
A Dog's Purpose fell slightly short of expectations in its debut weekend following a controversy over animal treatment on the set. The family film pulled in $18.4 million at the box office, putting it in second place for the weekend behind M. Night Shyamalan's multiple personality thriller Split, which brought in $26.3 million over the weekend. A Dog's Purpose had been projected to make in the mid-$20 million range on its opening weekend. The film still promises to be a financial success, since it cost just $22 million to produce.