The daily business briefing: January 16, 2018
CVS bans manipulated photos in marketing for its makeup, Airbus says it might have to stop making its massive A380 jets, and more
CVS bans use of manipulated photos in marketing of its makeup brand
CVS Health said Monday that it would ban the use of manipulated photos in the marketing of its store-brand makeup. The nation's largest pharmacy chain also said it would require other beauty brands that sell products in its stores to commit to phasing out retouched or otherwise manipulated images by 2020. CVS Pharmacy President Helena Foulkes said the decision reflected the company's recognition that "unrealistic body images" are "a significant driver of health issues," especially among women, who account for 80 percent of CVS customers. "To try to hold ourselves up to be like those women is impossible because even those women don’t look like how they appear in those photographs," Foulkes said. The change could have a huge impact, as CVS is one of the largest sellers of beauty products in the U.S.
Airbus says it might have to stop building its big A380 jets
Airbus said Monday that it would stop making its A380 superjumbo jet unless it can reach a long-term deal to sell a steady supply of the massive jets to the Dubai-based airline Emirates. Airbus spent years and billions of dollars developing the massive double-decker aircraft. Supporters have called the A380 a game-changer, but skeptics long doubted there would be enough demand. The plane is so big it requires extra-long runways. Emirates is the only airline Airbus believes capable of committing to buying six planes a year for at least eight years, the minimum needed to make the program viable. "If we can't work out a deal with Emirates, there is no choice but to shut down the program," Airbus chief salesman John Leahy said.
Watchdog: Trade groups, foreign governments do business with Trump properties
The political watchdog group Public Citizen released a report on Tuesday saying that 64 trade groups, foreign governments, Republican candidates, and others did business with properties linked to President Trump in his first year in office. The activity, which included everything from hotel stays to events held at Trump properties, amounted to "unprecedented conflicts of interest" because Trump has failed to divest from the properties despite the fact that he now oversees the federal government, the report said. Just before his inauguration in January, Trump said he would transfer control of his companies to his adult sons, Donald Jr. and Eric, and put his assets in a trust to show he was not making policies that would benefit him financially.
Dow poised for run at 26,000 as futures rise
U.S. stock futures rose early Tuesday, pointing to solid gains as trading resumes after the three-day Martin Luther King Day holiday weekend. Dow futures jumped by 233 points, or 0.9 percent, giving the index a shot at the 26,000 milestone. S&P 500 futures gained 0.5 percent, while Nasdaq-100 futures rose by 0.6 percent. All three major U.S. stock benchmarks closed at all-time highs on Friday after posting strong gains. They all have gained between 22 percent and 30 percent in the last 12 months, as the U.S. economy and corporate profits grew.
Greek lawmakers approve new reforms to land more bailout funds
Greek lawmakers on Monday passed a new set of financial reforms demanded by international lenders in exchange for about $8 billion in additional bailout money. The move marked a victory for the government and a setback for 20,000 anti-austerity protesters outside the parliament building. The reforms include rules making it harder to call strikes. It also restructures family benefits and provides a new electronic process for foreclosing on overdue loans and money owed to the state. Unrest briefly broke out while parliament was considering the bill, with police firing tear gas to disperse people who threw rocks and Molotov cocktails.