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Update on the latest in business:

December 26, 2018

FINANCIAL MARKETS

Asian markets slip on fears of US slowdown

UNDATED (AP) — SINGAPORE (AP) — Asian markets were mostly lower today after President Donald Trump said that there was “nothing new” in efforts to end the partial government shutdown over a U.S.-Mexico border wall.

South Korea’s Kospi gave up 1.2 percent today and the Shanghai Composite index shed 0.2 percent. Japan’s Nikkei 225 index, which plunged 5 percent on Tuesday, picked up 0.9 percent today. Shares fell Taiwan and throughout Southeast Asia. Markets in Hong Kong and Australia were closed.

Traders had no fresh leads from Wall Street, which was closed on Christmas. U.S. stocks are headed for their worst December since the Great Depression in 1931.

The Dow closed more than 650 points lower on Christmas Eve.

GOVERNMENT SHUTDOWN

Trump can’t say when shutdown will end

WASHINGTON (AP) — President Donald Trump says that parts of the federal government will stay closed until Democrats agree to put up more walls along the U.S.-Mexico border to deter criminal elements. He said Tuesday that he’s open to calling the wall something else as long as he ends up with an actual wall.

In a Christmas Day appearance in the Oval Office, Trump issued a lengthy defense of his desire for a wall, saying it’s the only way to stop drugs and human traffickers from entering the country. In a nod to the political stakes he’s facing, Trump said he wants the wall by “election time” in 2020.

NSA-PHONE RECORDS-ACLU LAWSUIT

NEW YORK (AP) — A civil rights group has sued the U.S. government, saying it needs more information about surveillance of Americans’ phone and financial records to guide the public debate over what will happen when the law that regulates the scrutiny expires next year.

The American Civil Liberties Union sued the National Security Agency, the director of national intelligence, the CIA and the Justice Department on Friday in Manhattan federal court, seeking information about a program that collects records during investigations into terrorism or clandestine intelligence activities.

According to the lawsuit, the government has not responded to requests made last month for information about its surveillance of Americans under a 2015 law. Congress used the law to set boundaries on the NSA’s bulk collection of call records and other data after former NSA contractor Edward Snowden leaked documents revealing extensive government surveillance.

ISRAEL-DRONES

Israeli anti-drone company sees spike in interest

JERUSALEM (AP) — An Israeli technology company says its anti-drone system is drawing major interest after rogue unmanned aircraft sowed chaos at London’s Gatwick Airport last week.

The Israeli company Skylock is among a growing industry specializing in detecting and downing intruder drones by “jamming” them, or disrupting their frequencies.

The company said Tuesday it saw a 40 percent spike in inquiries into its product since the Gatwick episode.

Product manager Asaf Lebovitz said the company, which emerged to target militant drone use in Syria, has shifted focus to commercial applications and has been approached by airports in North America and Europe.

Noam Milstein, drone operations chief for Israel’s Civil Aviation Authority, said such systems are “obviously becoming crucial to prevent drone incursions from those who don’t care about the regulations in place.”

AIRPLANE DOWN-FLORIDA

New Jersey businessman, son aboard plane missing off Florida

JACKSONVILLE, Fla. (AP) — A New Jersey businessman and his 18-year-old son have been identified as the pair aboard a small private plane that disappeared off Florida’s Atlantic coast.

Fifty-one-year-old Peter Renzulli and his son Daniel were flying home to Bridgewater, New Jersey, from a Disney vacation when their single engine Piper PA-46 Malibu vanished Thursday.

Authorities said a distress call came from the plane as it rapidly lost altitude near Ponte Vedra Beach. The Coast Guard suspended a search for the aircraft late Saturday.

Renzulli family attorney Justin Marchetta told The Florida Times-Union that both Renzulli and his son are accomplished pilots. It is not known whether the teenager or his father was piloting the plane when it disappeared.

Renzulli is a certified public accountant, Rutgers University professor, and a financial news commentator.

JAPAN-NISSAN KELLY

Nissan American exec Greg Kelly released on bail in Japan

TOKYO (AP) — Nissan Motor Co. executive Greg Kelly was released from detention in Japan on Tuesday after being granted bail over the alleged underreporting of his boss Carlos Ghosn’s (gohnz) pay.

The late-night release of Kelly, who is American, followed the Tokyo District Court’s approval earlier in the day of a bail request filed last week by his Japanese lawyer.

Kelly was freed on 70 million yen ($635,600) bail, ending his detention after more than a month.

Television footage captured the bespectacled Kelly, wearing a beige jacket, slowly walking out of the detention center and getting into a black car. The vehicle carrying Kelly, who was seated next to his lawyer and looking straight ahead, drove past reporters as cameras flashed. He was expected to go straight to a hospital for treatment of his chronic neck problem.

Kelly and Ghosn were detained in Tokyo immediately after their Nov. 19 arrest. They are charged with underreporting Ghosn’s pay by about 5 billion yen ($44 million) in 2011-2015.

JEWELRY HEIST

3 men steal $800,000 in jewelry at Colorado luxury hotel

ASPEN, Colo. (AP) — Authorities say three men stole about $800,000 worth of diamond-encased jewelry from a display case in the lobby of The Little Nell hotel in Aspen, Colorado.

The Aspen Daily News reports that police say one of the men involved in the theft Friday used a screwdriver to pop open the locked case and put a necklace and at least one ring and a set of earrings into a backpack.

The items belonged to Piranesi, a New York City-based business that has an outlet in Aspen.

Piranesi employee Veronica Sumner says Piranesi has had the display case in the hotel’s lobby for marketing purposes for more than 20 years.

Aspen police Officer Kirk Wheatley says “a whole team is working on it, it’s pretty big.”

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