The daily business briefing: October 5, 2020

1. Markets rise as doctors report Trump's health improving

Global stocks rose on Monday as reports of President Trump's improving health calmed jittery markets. Trump's doctors said he had responded well to treatment since he was admitted to Walter Reed Medical Center on Friday for treatment after testing positive for the coronavirus. The MSCI's broadest Asia-Pacific index rose by 0.6 percent. Australian stocks jumped by 2.4 percent, and Japan's Nikkei gained 1.4 percent. U.S. stocks rose early Monday on rising hopes of progress toward a deal between lawmakers and the White House on a new round of coronavirus relief before the November election. Futures for the Dow Jones Industrial Average and the S&P 500 were up by about 0.5 percent several hours before the opening bell, while those of the tech-heavy Nasdaq rose by 0.8 percent.

Reuters MarketWatch

2. Fashion designer Kenzo Takada dies of COVID-19 complications at 81

French-Japanese fashion designer Kenzo Takada has died from COVID-19 complications in a hospital near Paris, his family said in a statement to French media on Sunday. He was 81. "It is with immense sadness that KENZO has learned of the passing of our founder," the fashion house confirmed in a statement. "For half a century, Mr. Takada has been an emblematic personality in the fashion industry — always infusing creativity and color into the world." Takada was known for what The Associated Press described as his "jungle-infused designs and free-spirited aesthetic that channeled global travel." He retired from his fashion house in 1999 to focus on his art, but remained an icon of French fashion. His Kenzo brand has been owned by French luxury goods company LVMH since 1993.

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The Associated Press

3. Employees protest Amazon working conditions outside Bezos' house

Labor activists and Amazon workers marched to Amazon CEO Jeff Bezos' Beverly Hills mansion on Sunday to protest the online retail giant's business practices and working conditions. The Congress of Essential Workers, led by current and former Amazon warehouse employees, spearheaded the demonstration, which was timed to precede the e-commerce leader's annual Prime Day sale event scheduled for Oct. 13 and 14. The march came days after Amazon disclosed that nearly 20,000 of its workers had tested positive for the coronavirus since March. "Amazon is far and beyond the wealthiest corporation on the planet," said Andrew Lewis of the North Westwood Neighborhood Council, who was among the roughly 100 people who participated in the rally. "They have the resources to keep their employees safe and healthy, and actively choose not to."

Deadline Los Angeles Times

4. Microsoft to spend $1 billion on data centers in Greece

Microsoft plans to invest up to $1 billion in three new cloud data centers in Greece, the software giant and Greek Prime Minister Kyriakos Mitsotakis announced on Monday. "This significant investment is a reflection of our confidence in the Greek economy, in the Greek people, and the Greek government," Microsoft President Brad Smith said at a ceremony held in the Acropolis Museum in Athens. "It's not something we do often and it's not something that we do lightly." The decision followed nine months of confidential negotiations. The agreement includes digital-skills training programs for 100,000 government and private sector workers, as well as educators and students. Greece is emerging from an extended financial crisis and facing new obstacles to its recovery caused by the coronavirus pandemic's devastation of international tourism.

The Associated Press

5. Ride-hailing app Ola denied new license in London

Indian ride-hailing app Ola, which has backing from Japanese tech giant SoftBank, was denied a new operating license in London on Sunday. Transport for London concluded that the service, which launched in the British capital in February, was not "fit and proper" to hold a license there. The decision came a week after Ola's bigger rival Uber won a court battle over its London license. Transport for London found that Ola let unlicensed drivers and vehicles provide more than 1,000 passenger trips. "Through our investigations we discovered that flaws in Ola's operating model ... may have put passenger safety at risk," said Helen Chapman, TfL's director of licensing, regulation, and charging. Ola can continue operating pending a decision on its planned appeal.

CNBC