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Markets gain...Supreme Court hears antitrust case...Brexit annulment case tossed

November 26, 2018

SINGAPORE (AP) — World markets were mostly higher on Monday as traders cheered a long-awaited deal bolstering Britain’s exit from the European Union, even as opposition was rife. Futures point to a strong opening on Wall Street. Oil prices recovered. Benchmark U.S. crude oil rose above $51 per barrel. The dollar strengthened against the yen and fell against the euro and the pound.

WASHINGTON (AP) — Apple is at the Supreme Court to defend the way it sells apps for iPhones against claims by consumers that the company has unfairly monopolized the market. The justices are hearing arguments Monday in Apple’s effort to end an antitrust lawsuit that could force the iPhone maker to cut the 30 percent commission it charges software developers whose apps are sold exclusively through Apple’s App Store. A judge could triple the compensation to consumers under antitrust law if Apple ultimately loses the lawsuit.

BRUSSELS (AP) — A European Union court has thrown out a case seeking the annulment of the Brexit negotiations. One day after the EU and Britain rubber-stamped a withdrawal agreement and a text on a future relationship, the EU general court said Monday that 13 Britons living in other EU nations had no case is seeking such a cancellation. The 13 said they were not allowed to vote in the 2016 referendum because they were living abroad.

TOKYO (AP) — The board of Japanese automaker Mitsubishi Motors, which is allied with Renault and Nissan, voted Monday to dismiss Carlos Ghosn as its chairman after his arrest last week, citing a lack of trust. Prosecutors arrested Ghosn on Nov. 19 on suspicion of under-reporting his income by $44 million over five years. Nissan Motor Co. ousted him as its chairman last week, saying an internal investigation found Ghosn abused company money and assets.

BERLIN (AP) — A closely watched survey is showing a slightly bigger-than-expected decline in German business confidence after the economy shrank in the third quarter. The Ifo institute said Monday its confidence index fell to 102 points for November from 102.9 in October. Economists had expected a decline to 102.3 points. Managers’ view of both their current situation and their prospects for the next six months darkened. It was the third successive monthly decline in the index.

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