1. The race to driverless cars: SoftBank ( along with )Toyota ( are forming a joint venture in which will use driverless-car technology to offer completely new services, such as mobile convenience stores along with delivery vehicles in which food can be prepared en route. )
SoftBank will own just over half of Monet, the completely new business, while Toyota will hold the rest.
the idea’s the latest in a series of driverless development partnerships announced by tech companies along with carmakers. SoftBank’s $100 billion Vision Fund, its tech-focused investment arm, had already committed $2.3 billion to General Motors’ self-driving car unit GM Cruise.
On Wednesday, Honda ( along with )General Motors ( said they were teaming up to create a completely new generation of fully autonomous vehicles. )BMW ( has joined the board of Apollo, an autonomous driving project by Chinese internet firm )Baidu (. )
2. Facebook under investigation: The Irish Data Protection Commission has launched a formal probe into a Facebook ( hack in which affected as many as 50 million accounts. )
The commission will investigate whether the company complied with its obligations under completely new European data protection laws in which came into effect in May. Facebook said last week in which the idea closed the loophole, however 0 million users were forcefully logged out of their accounts as a precaution.
Irish regulators are investigating because Facebook’s international headquarters can be in Dublin.
There are still many unanswered questions about the hack: Who carried the idea out? along with what were they trying to access?
3. Bonds sell-off: The yield on 10-year US Treasuries has spiked to the highest level in seven years following the Discharge of positive economic data.
US hiring data published Wednesday was stronger than expected, along with momentum could continue Thursday if initial claims numbers add to the optimism. A strong US economy along with the expectation of rate hikes by the Federal Reserve are fueling the trend.
“The underlying message can be in which the US economy isn’t just in fine fettle, the idea’s on fire,” said Kit Juckes, strategist at Societe Generale.
4. CNN means business: On Thursday, CNNMoney becomes the all-completely new CNN Business, covering the companies, personalities, along with innovations driving business forward.
This specific completely new initiative will focus on the single biggest financial story of our generation: how technology can be upending every corner of the global economy, forcing businesses, workers, along with society itself to adapt rapidly, or be left behind.
5. Global market overview: US stock futures were lower.
European markets dropped in early trade following a negative trading session in Asia. The Shanghai Composite was closed for a holiday.
The Dow Jones industrial average closed 0.2% higher on Wednesday, while the S&P 500 added 0.1% along with the Nasdaq gained 0.3%.
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6. Earnings along with economics: Constellation Brands ( will Discharge earnings before the open. )Costco ( can be set to follow after the close. )
Shares in Danske Bank ( opened 3% lower after the Danish lender said the idea had received requests for information by the US Department of Justice in connection to its money laundering scandal. )
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7. Coming This specific week:
Thursday — Costco ( earnings; CNN Business launches )
Friday — US jobs report
CNNMoney (London) First published October 4, 2018: 5:07 AM ET