President Donald Trump is lashing out over a caravan of Central American migrants trying to reach the United States, saying that if Mexico does not stop the effort, he will use the military to “CLOSE OUR SOUTHERN BORDER.”
Trump tweeted Thursday that he wanted “Mexico to stop this onslaught.” He also appeared to threaten a revamped trade deal with Mexico and Canada.
Trump did not detail his military threat. Earlier this year, some National Guard members were deployed to the border on a limited mission that does not include contact with migrants.
More than 2,000 Hondurans are in a migrant caravan trying to reach the United States.
Mexico’s government says migrants with proper documents can enter and those who don’t either have to apply for refugee status or face deportation.
Coca-Cola Taps Veteran Executive as New President
Coca-Cola Co. has named longtime company executive Brian Smith as its new president and chief operating officer.
Smith joined the company in 1997. He has led Coke’s operations in Brazil and Mexico and most recently was the head of its Europe, Middle East and Africa division.
Smith will report to CEO James Quincey. Quincey served as Coke’s president and COO from 2015 to 2017, when he was named CEO.
Atlanta-based Coca-Cola said the new leadership structure will help Quincey focus on long-term strategy while Smith leads day-to-day operations.
Coke also said Thursday that Chief Financial Officer Kathy Waller will retire in March 2019. John Murphy, who leads Coke’s Asia Pacific group, will become the company’s new CFO.
Coca-Cola’s shares were down 15 cents at $45.71 in midday trading.
China ‘Regrets’ US Leaving Postal Union Amid Trade Dispute
China says it regrets Washington’s decision to leave the United Nations treaty that regulates international postage amid a worsening trade dispute between the world’s top two economies.
Foreign Ministry spokesman Lu Kang said Thursday the move should not be linked to China, despite arguments that the arrangement especially benefits Chinese manufacturers by making it cheaper to ship packages from Beijing to New York than from San Francisco to the U.S. East coast.
President Donald Trump says the 144-year-old Universal Post Union puts U.S. businesses at a disadvantage and is used by shippers of the narcotic fentanyl to the U.S. from China.
The move comes as the U.S. has imposed tariffs on $250 billion in Chinese goods and Beijing has retaliated by targeting $110 billion in U.S. products.
Ebay Sues Amazon, Saying it Tried to Poach its Sellers
Ebay filed a lawsuit against Amazon Wednesday, saying the online retail giant used eBay’s messaging system to steal its sellers.
In the lawsuit, eBay said Amazon representatives signed up for eBay accounts and messaged sellers to get them to sell their goods on Amazon.com, which eBay said violated its user agreement. According to the complaint, Amazon representatives spelled out their email addresses and asked eBay sellers to talk on the phone in order to evade detection.
Ebay called it an “orchestrated, coordinated, worldwide campaign” to “illegally lure eBay sellers to sell on Amazon.”
Seattle-based Amazon declined to comment on the lawsuit.
Both eBay and Amazon rely on independent sellers to boost their revenue, but it’s become a big part of Amazon’s growth: Last year, for the first time, more than half the items sold on Amazon were from third-party sellers.
Ebay, based in San Jose, California, said it wants Amazon to stop misusing its messaging platform and to pay it an unspecified amount.
Japan Exports Fall in September, First Decline Since 2016
Japan has recorded a trade surplus for September of 139.6 billion yen ($1.2 billion), but exports fell 1.2 percent from the previous year, marking the first decline since 2016, after several natural disasters.
Trailing exports are also reflecting uncertainties over trade tensions set off by President Donald Trump’s policies. Declining U.S.-China trade generally hurts the export-dependent Japanese economy.
September imports rose 7 percent, according to data released Thursday by the Ministry of Finance.
During the month, a major earthquake hit the northernmost island of Hokkaido, causing fatal landslides and widespread blackouts, while a typhoon struck the western Kansai area and temporarily shut down a major airport.
Those events followed deadly flooding in southwestern Japan and a quake in Osaka earlier this year.
Philip Morris Reports 3Q Earnings of $2.25B
Philip Morris International Inc. (PM) on Thursday reported third-quarter net income of $2.25 billion.
On a per-share basis, the New York-based company said it had profit of $1.44.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.
The seller of Marlboro and other cigarette brands posted revenue of $20.44 billion in the period. Its adjusted revenue was $7.5 billion, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $7.18 billion.
Philip Morris expects full-year earnings in the range of $4.97 to $5.02 per share.
Philip Morris shares have decreased 20 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 5 percent. The stock has fallen 25 percent in the last 12 months.
MoviePass Operations Under Investigation by NY AG
The company that runs the beleaguered MoviePass discount service for theater tickets is being investigated by the New York Attorney General on allegations that it misled investors.
Parent company Helios and Matheson of New York said in a prepared statement that it is aware of the investigation, but that it believes, “our public disclosures have been complete, timely and truthful and we have not misled investors.”
The investigation was first reported by CNBC.
The company has struggled financially and is facing class action lawsuits filed on behalf of investors claiming the company failed to disclose aspects of a business model that were unsustainable.
Shares of Helios and Matheson, which is in danger of being delisted by Nasdaq because they had fallen to about a penny, plunged at the opening bell.
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