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European markets climb...Trump to nominate economist Nellie Liang for Fed board seat...Airbnb promises more transparency in pricing

September 20, 2018

SINGAPORE (AP) — European markets climbed today following a mixed day in Asia, buoyed by hopes the U.S. and China will proceed with talks to tackle their escalating trade dispute. In Asia, Japan’s Nikkei closed flat. South Korea’s Kospi closed up 0.7 percent and Hong Kong’s Hang Seng added 0.3 percent. The Shanghai Composite index edged 0.1 percent lower and shares also fell in Taiwan. Wall Street is expected to open higher, with Dow futures just under 0.1 percent and S&P futures up 0.1 percent.

WASHINGTON (AP) — President Donald Trump is expected to nominate former Federal Reserve economist Nellie Liang to the central bank’s board of governors. Liang played a key role at the Fed in dealing with the aftermath of the 2008 financial crisis. Liang was tapped by then-Fed Chairman Ben Bernanke to become the first director of the bank’s Division of Financial Stability, which was created in 2010 to manage risks following the country’s worst financial crisis since the 1930s.

TOKYO (AP) — A Japanese digital currency exchange has been hacked, and 6.7 billion yen ($60 million) worth of cryptocurrencies are gone. Tech Bureau Corp. says that a server for its Zaif exchange was hacked for two hours last week, and some digital currencies got unlawfully relayed from what’s called a “hot wallet,” or where virtual coins are stored at such exchanges. Japan has been bullish on virtual money and has set up a system requiring exchanges to be licensed to help protect consumers.

LONDON (AP) — British regulators say that the corporate battle between 21st Century Fox and Comcast to take over broadcaster Sky will be settled by auction. The Takeover Panel, an independent regulator, says that since neither company has declared its offer final, an auction procedure is expected to begin the evening of Sept. 21 and end during the evening of Sept. 22. Comcast has put down a 26 billion pound ($34.3 billion) offer for Sky. Fox has bid 24.5 billion pounds for the 61 percent of the satellite broadcaster it does not own.

BRUSSELS (AP) — European Union officials say Airbnb has agreed to clarify its pricing system in response to complaints that they could mislead consumers. EU Consumer Commissioner Vera Jourova says the U.S.-based property rental company has promised to be fully transparent by either including extra fees in the total price for a booking quoted on its website or notifying users that they might apply. Some consumers complained that unexpected costs, such as cleaning charges, were being added at the end of their stay.

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