The daily business briefing: April 14, 2017
North Korea tensions drag down Asian markets, battered United passenger's lawyer calls his client a "poster child" for industry abuse, and more
1. North Korea tensions weigh on Asian stocks
Asian stocks fell Friday as investors expressed concern about rising tensions over North Korea. Japan's Nikkei fell by 0.5 percent to a four-month low, and South Korea's Kospi sank by 0.6 percent. News that the U.S. military had dropped its largest non-nuclear weapon in Afghanistan contributed to investor worries. "There's been nothing to cheer about over the last 24 hours. Geopolitical tensions seem to be rising all over the place," said Masahiro Ayukai, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities. Many markets, including Australia, Singapore, Hong Kong, Europe, and the U.S., are closed for Good Friday.
2. Lawyer says United passenger suffered concussion, broken nose
The lawyer for the passenger dragged off a United Airlines flight in Chicago said Thursday that his client, Dr. David Dao, has a concussion and a broken nose and lost two teeth due to the incident. Dao also will require reconstructive surgery and will probably file a lawsuit over the incident, lawyer Thomas Demetrio said in a Chicago news conference, calling Dao a "poster child" for the mistreatment of passengers by airlines. Video of Sunday's incident showed Dao, who is Vietnamese-American, being dragged through the plane aisle as fellow passengers protest. Dao's daughter, Crystal Dao Pepper, said her family was "horrified, shocked, and sickened" by her father's treatment. "What happened to my dad should have never happened to any human being," she said. United CEO Oscar Munoz has apologized and promised an internal review of the company's policy on handling overbooked flights.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
3. Trump administration ObamaCare rule shortens enrollment period
The Department of Health and Human Services on Thursday issued a final rule on ObamaCare that shortens the enrollment period and gives insurers flexibility that could raise out-of-pocket medical expenses for consumers, according to health-care experts. The rule, which takes effect later this year, was issued as President Trump and Republicans jumpstart their efforts to repeal and replace the Affordable Care Act after their first try failed last month. Insurers welcomed the rule, but said it still didn't do enough to stabilize the system, saying they want assurances from President Trump that the government will continue paying "cost-sharing subsidies" for low-income ObamaCare participants. Trump this week threatened to withhold the $7 billion in annual cost-sharing payments if Democrats don't cooperate on replacing the health-care law, a threat House Minority Leader Nancy Pelosi called "appalling."
4. Musk says Tesla to unveil freight truck in September
Tesla shares jumped by more than 2 percent Thursday after the electric carmaker's CEO, Elon Musk, tweeted that the company hopes to add a freight truck to its lineup this year. "Team has done an amazing job," Musk wrote in the post. "Seriously next level." Musk had already hinted the cargo truck was coming when he released his "Master Plan, Part Deux" in July. The news of the looming unveiling of the Tesla Semi came just months before the launch of Tesla's Model 3, a small sedan that will be its first lower-cost vehicle intended for the masses. Tesla also reportedly plans to introduce a pickup truck in the next 12 to 18 months.
5. Florida inspectors cite Trump club for kitchen violations
Florida restaurant inspectors recently cited President Trump's private club, Mar-a-Lago, for 13 violations in its kitchen, The Miami Herald reported. Three of the problems were deemed "high priority," a sign these violations could result in potentially illness-causing bacteria getting onto plates served in the dining room. The inspectors found potentially dangerous raw fish as well as raw meat being stored at unacceptably warm temperatures in two broken-down coolers. The inspection took place Jan. 26, shortly before Trump hosted Japanese Prime Minister Shinzo Abe at the club, which has an initiation fee of $200,000. Mar-a-Lago general manager Bernd Lembcke did not return the newspaper's calls for comment.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
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.
-
What is rock flour and how can it help to fight climate change?
The Explainer Glacier dust to the rescue
By Devika Rao, The Week US Published
-
Crossword: April 19, 2024
The Week's daily crossword puzzle
By The Week Staff Published
-
In what states is abortion legal, illegal, and in limbo?
In The Spotlight Where American states stand on abortion care
By Theara Coleman, The Week US Published
-
The daily business briefing: January 24, 2024
Business Briefing The S&P 500 sets a third straight record, Netflix adds more subscribers than expected, and more
By Harold Maass, The Week US Published
-
The daily business briefing: January 23, 2024
Business Briefing The Dow and S&P 500 set fresh records, Bitcoin falls as ETF enthusiasm fades, and more
By Harold Maass, The Week US Published
-
The daily business briefing: January 22, 2024
Business Briefing FAA recommends inspections of a second Boeing 737 model, Macy's rejects Arkhouse bid, and more
By Harold Maass, The Week US Published
-
Geopolitics and the economy in 2024
Talking Point The West is banking on a year of falling inflation. Don't rule out a shock
By The Week UK Published
-
The daily business briefing: January 19, 2024
Business Briefing Macy's to cut 2,350 jobs, Congress averts a government shutdown, and more
By Harold Maass, The Week US Published
-
The daily business briefing: January 18, 2024
Business Briefing Shell suspends shipments in the Red Sea, December retail sales beat expectations, and more
By Harold Maass, The Week US Published
-
The daily business briefing: January 17, 2024
Business Briefing Judge blocks JetBlue-Spirit merger plan, Goldman Sachs beats expectations with wealth-management boost, and more
By Harold Maass, The Week US Published
-
The daily business briefing: January 16, 2024
Business Briefing Boeing steps up inspections on 737 Max 9 jets, Zelenskyy fights for world leaders' attention at Davos, and more
By Harold Maass, The Week US Published