Steep decline...Nissan chairman arrested...David’s Bridal bankruptcy
NEW YORK (AP) — Stocks are closing sharply lower on Wall Street, pulled down by more steep losses in big technology companies. Apple, Microsoft and Facebook all came under heavy selling pressure. The losses came after the U.S. and China clashed at a Pacific Rim summit over the weekend, dashing hopes that the two economic giants were making progress on resolving their damaging trade dispute. The S&P fell 45 points. The Dow lost 395 points and the Nasdaq lost 219 points, or 3 percent, to 7,028.
YOKOHAMA, Japan (AP) — Nissan Motor Co. says its chairman Carlos Ghosn has been arrested and will be dismissed for alleged under-reporting of his income and misuse of company funds. The Japanese automaker’s CEO said Monday that Ghosn was detained after he arrived in Japan earlier in the day. The Yokohama-based company said the violations by Ghosn and another executive were discovered during a monthslong investigation that was instigated by a whistleblower.
MOSCOW (AP) —Russian prosecutors have announced new criminal charges against U.S.-born Kremlin foe Bill Browder, days before a Russian police officer could become president of Interpol in a move that some Moscow critics fear might politicize the law enforcement agency. Browder and other opponents of President Vladimir Putin have complained that Russia has tried to use Interpol to go after them for political reasons.
JERUSALEM (AP) — Vacation rental company Airbnb says it is removing its listings in Israeli settlements in the West Bank. A statement released on the company’s website Monday said it will take down some 200 listings in Israeli settlements “that are at the core of the dispute between the Israelis and Palestinians.” Most of the international community views the settlements as illegal.
UNDATED (AP) — David’s Bridal is filing for bankruptcy protection but there is no danger for customers who have ordered dresses because operations continuing as normal while the wedding and prom retailer restructures. The bankruptcy filing, the private company said Monday, will wipe out more than $400 million in long-term debt.