Business News

Apple rocks the house today

United Airlines has replaced its CEO, Jeff Smisek. The company is facing a federal investigation for allegedly providing the former NY/NJ Port Authority Chairman with special flights in exchange for favors. Smisek allegedly wanted millions of dollar in funding for several projects that were beneficial to United. In return, United allegedly created a special flight between Newark and an airport near the former Chairman’s home in South Carolina. (CNBC)

Investor sentiment showed signs of improvement throughout the globe Wednesday, following an announcement from China’s finance ministry on Tuesday evening that the country would roll out a “more forceful” fiscal policy to boost its economy.  Japanese stocks posted their biggest one-day gain since 2008, rising 7.7%! (WSJ)

Global market volatility shows no sign of dampening companies' appetite for deal making, as 40bn in new transactions worldwide were announced yesterday in what’s on track to be a record year for mergers and acquisitions.  The announcements put the total amount of transactions since January at over $3tn!!! (FT)

Apple is due to unveil the latest versions of the iPhone today at an event in San Francisco, where it is also expected to introduce a bigger iPad and the opening of Apple TV to third party app developers. Upgrades to the iPhone are likely to include much-improved cameras, as well as Force Touch, which allows users to open features by pressing down harder on the screen and has been used in the Apple Watch. (Seeking Alpha)

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