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Stocks Gain...Ransomware attack spreads...Toshiba reports loss

May 15, 2017

TOKYO (AP) — Shares edged higher today in Europe and Asia, despite worries of disruptions from the “WannaCry” ransomware cyberattack over the weekend. Yet another missile launch by North Korea also appeared to have little impact. Futures point to opening gains on Wall Street today. Benchmark U.S. crude oil rose more than a dolla to stand above $49 a barrel. The dollar was steady against the yen and slipped against the euro.

TOKYO (AP) — The worldwide “ransomware” cyberattack wreaked havoc in hospitals, schools and offices across the globe today. Asia reported thousands of new cases but no large-scale breakdowns as workers started the week by booting up their computers. The full extent of the damage from the cyberattack felt in 150 countries was unclear and could worsen if more malicious variations of the online extortion scheme appear.

TOKYO (AP) — Toshiba, whose U.S. nuclear unit Westinghouse has filed for bankruptcy protection, is reporting a 950 billion yen ($8.4 billion) net loss for the fiscal year ended March. Meanwhile, Western Digital is seeking arbitration in a dispute with its joint venture partner over the sale of the Japanese electronics giant’s computer-chip business. Toshiba wants to sell the lucrative chips unit to shore up its finances, but Western Digital is demanding Toshiba first obtain its consent.

WASHINGTON (AP) —Investors will avail themselves of some of the latest housing data today. The National Association of Home Builders will issue its housing market index for May. Also, the Treasury Department will release international money flows data for March.

BOSTON (AP) — A federal judge in Boston has scheduled a hearing in a class-action lawsuit by Wal-Mart employees who sued the retail chain for denying health benefits to their same-sex spouses. A proposed settlement of $7.5 million would pay for claims by current and former Wal-Mart associates in the U.S, and Puerto Rico that they were unable to obtain health insurance coverage for their same-sex spouses from 2011 to 2013. Wal-Mart began offering benefits for same-sex spouses in 2014. A fairness hearing is scheduled today to determine if settlement terms are adequate.

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