Mixed stock markets... Bankruptcy filing...Credit agency security questions
TOKYO (AP) — Global shares were mixed today as investors awaited comments from the U.S. Federal Reserve, but Japan’s benchmark rose on optimism over a weak yen and a record finish on Wall Street. Futures point to little change at this morning’s Wall Street open. Benchmark U.S. crude oil rose above $50 a barrel. The dollar gained against the yen and weakened against the euro.
RICHMOND, Va. (AP) — Toys R Us, the pioneering big box toy retailer, has announced it has filed for Chapter 11 bankruptcy protection while continuing with normal business operations. A statement by the Wayne, New Jersey-based company late Monday says it voluntarily is seeking relief in U.S. Bankruptcy Court for the Eastern District of Virginia in Richmond — and that its Canadian subsidiary is seeking similar protection through a Canadian court. It emphasizes that its approximately 1,600 locations will remain open, that it will continue to work with suppliers and sell merchandise.
ALBANY, N.Y. (AP) — New York Attorney General Eric Schneiderman is pressing TransUnion and Experian to explain what cybersecurity they have in place to protect sensitive consumer information following a recent breach at Equifax that exposed the data of 143 million Americans. In letters to executives at the two credit monitoring companies, the Democratic attorney general asked them to describe their existing security systems as well as what changes they’ve made since the Equifax attack. He also wants to know whether the companies will consider waiving the fees for consumer credit freezes in light of the breach.
WASHINGTON (AP) — The latest two-day policy meeting of the U.S. Federal Reserve begins today. Forecasters expect the Fed to leave interest rates unchanged and stick to plans to raise rates in December. But investors will be listening for any indications the central bank could move sooner.
BEIJING (AP) — A business group urged China today to carry out promises to open its economy and warned inaction might fuel a backlash against free trade amid mounting U.S. and European criticism. The European Union Chamber of Commerce said in a report that Beijing is backtracking in some areas, including by imposing new restrictions on good imports, express delivery and legal services. Beijing faces mounting complaints from Washington and the European Union about its trade surpluses and barriers to foreign acquisitions of Chinese assets.