Disruptions From Twin Quakes In Southern Japan Hit Economy
TOKYO (AP) – The twin earthquakes that struck southern Japan Thursday and early Saturday are having ripple effects far beyond the disaster zone.
Toyota to suspend production at most of its factories across the country. The quake damaged Honda’s motorcycle plant in Kumamoto. Japan’s Nikkei 225 stock index tumbled more than 3 percent Monday, in part on worries over quake repercussions. But the economic impact is nowhere near as large as the havoc wreaked by the 2011 quake and tsunami disasters, which slammed supply chains so badly that Japanese automakers’ production was halted even in the United States.
Should Woman Go On $10 Bill or $20 Bill?
WASHINGTON (AP) – Treasury officials declined to comment Monday on a report that Secretary Jacob Lew has decided to keep Hamilton on the $10 bill, and instead replace Jackson’s portrait on the $20 bill with a woman.
A spokesman for the Treasury said a set of announcements will be made soon that involve the $5, $10 and $20 bills.
Lew last week did offer some hints about where the decision may be headed in an interview with CNBC, saying there may be use of “the front and the back of the bill to tell an exciting set of stories.”
PepsiCo CEO: We’re Reducing Our Reliance on Colas for Sales
PURCHASE, N.Y. (AP) — PepsiCo CEO Indra Nooyi said Monday the company is reshaping its product lineup to better reflect the growing interest in healthy eating and noted it has reduced its reliance on colas for sales.
The maker of Frito-Lay snacks, Mountain Dew and Quaker Oats now gets less than 25 percent of its global sales from soda.
The remarks underscore PepsiCo’s recent shift in tone as the world’s biggest soda brands have been pressured by intensifying competition and a bad image for fueling weight gain in markets such as the United States.
Drone Collision With Jet Highlights Growing Aviation Danger
LONDON (AP) — A collision between a British Airways passenger jet and a drone over London has left the plane undamaged but the aviation industry deeply shaken.
The plane struck the drone Sunday as approached Heathrow airport. It landed safely but the incident has focused attention on the growing number of unregulated drones and the potential for disaster if they hit a plane.
London’s Metropolitan Police Chief Superintendent Martin Hendry said the incident “highlights the very real dangers of reckless, negligent and sometimes malicious use of drones.”
Carnival May Delay Cuba Cruise Over Discrimination Concerns
MIAMI (AP) – Faced with protests, political pressure and a lawsuit, Carnival Corp. announced Monday it will allow Cuban-born passengers to book cruises to the island but will delay the trips if Cuba does not change its policy barring nationals from returning by sea.
Carnival CEO Arnold Donald said that the cruise line is continuing negotiations with Cuba aimed at resolving the issue prior to a scheduled May 1 cruise by its Fathom brand from Miami to Cuba — the first such sail in more than 50 years.
Argentina Returns To International Credit Markets
BUENOS AIRES, Argentina (AP) — Argentina has returned to global bond markets for the first time in 15 years. It announced a $10 billion-$15 billion bond issue Monday. The proceeds will help pay a group of holdout creditors who refused debt restructurings after Argentina defaulted on $100 billion of bonds in 2001.
President Mauricio Macri campaigned last year on promises to boost Argentina’s economy by putting an end to a longstanding debt dispute.