The daily business briefing: March 28, 2019

1. Facebook bans white nationalist posts

Facebook said Wednesday that it would start banning posts referencing white nationalism and white separatism in response to criticism of racism on the social network. Facebook previously focused on prohibiting content that glorified white supremacy, but civil rights advocates complained the policy did not cover white nationalist and white separatist messages that were essentially the same thing. Facebook reviewed the matter and agreed, saying in a blog post that "praise, support, and representation of white nationalism and separatism" were not acceptable. "It's clear that these concepts are deeply linked to organized hate groups and have no place on our services." The policy applies to Instagram, too.

The Washington Post

2. China shows movement on technology transfer issue

China has made unprecedented proposals on forced technology transfers and other sticking points in talks with the Trump administration to end the U.S.-China trade war, Reuters reported late Wednesday, citing U.S. officials. President Trump last year imposed tariffs on $250 billion worth of Chinese imports in an effort to get China to make its trade policies more favorable to the United States. One of Trump's demands was for Beijing to stop effectively requiring U.S. companies to hand over technology secrets to Chinese companies in exchange for access to Chinese markets. "If you looked at the texts a month ago compared to today, we have moved forward in all areas," one of the officials said. "We aren't yet where we want to be."

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Reuters

3. British lawmakers reject Brexit plan alternatives

British lawmakers on Wednesday rejected eight Brexit options, most narrowly voting against joining a customs union with the European Union. A proposal to mandate a referendum to confirm any Brexit deal failed 268 votes to 295. The Brexit secretary, Stephen Barclay, said the results showed Prime Minister Theresa May's Brexit deal is the best option. May confirmed earlier in the day that she would step down if lawmakers approve her twice-rejected agreement with the EU and the United Kingdom leaves the trading bloc. Some Brexiteers have complained that May's plan would leave the U.K. too closely tied to the EU. May said she recognized "there is a desire for a new approach — and new leadership."

The Guardian The Associated Press

4. Stocks get mixed signals from China talks, bond yields

U.S. stock index futures inched higher early Thursday, with investors focusing on the latest report on apparent progress in U.S.-China trade talks. Futures for the Dow Jones Industrial Average, the S&P 500, and the Nasdaq were all up, but by less than 0.1 percent, following a Reuters report of progress in U.S.-China talks on the thorny issue of forced technology transfers from U.S. companies seeking access to Chinese markets. On Wednesday, all three main U.S. indexes closed down as trouble in the bond market stoked fears of recession, with the 10-year rate hitting its lowest level since December 2017. The same bond last week last week fell below its three-month counterpart, resulting in an inverted yield curve that often precedes a recession by 12 to 24 months.

CNBC MarketWatch

5. California jury awards $80 million to man blaming Roundup for his cancer

A federal jury in San Francisco on Wednesday awarded $80 million in damages to a California man, Edwin Hardeman, after finding Roundup use contributed to his development of non-Hodgkin's lymphoma. Hardeman used Roundup for years to kill poison oak and weeds. Agribusiness giant Monsanto vowed to appeal, saying studies show Roundup's active ingredient, glyphosate, is safe. "This verdict does not change the weight of over four decades of extensive science and the conclusions of regulators worldwide that support the safety of our glyphosate-based herbicides and that they are not carcinogenic," said a statement from Bayer, which acquired Monsanto last year. Monsanto also is appealing a jury award to another man originally set at $289 million and later cut to $78 million by a judge.

MarketWatch