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Hi, here is your Business 1News Summary for 13th February
                                                             
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Flooding forces Alabama school system to shut down

  SUMMARY   HUNTSVILLE, Ala. — An Alabama school system called off classes Thursday because flooding affected its public water supply, and officials asked residents to conserve water.

🌐 start tribune

Trump Fed nominee Shelton promises 'intellectual diversity'

  SUMMARY   Judy Shelton, a former adviser to Trump's campaign, said, "I hope to contribute intellectual diversity" to the Fed's Board of Governors.

🌐 start tribune

American and Alaska strike deal around Seattle flights

  SUMMARY   DALLAS — American Airlines and Alaska Airlines say they will cooperate more closely on West Coast service, including new American flights from Seattle to India's technology hub in Bangalore.

🌐 start tribune

Kraft Heinz takes $666 million charge, misses sales expectations

  SUMMARY   FILE PHOTO: Bottles of Heinz tomato ketchup of U.S. food company Kraft Heinz are offered at a supermarket of Swiss retail group Coop in Zumikon, Switzerland December 13, 2016.

🌐 reuters

What to know before laying down money for a mattress

  SUMMARY   RESEARCH GOES A LONG WAY"There's no better way to waste money at a mattress store than to buy a mattress that's ultimately going to be bad for you," says Michael Magnuson, founder of the online mattress guide GoodBed.

🌐 start tribune

Apple to reopen some stores in Beijing on February 14: website

  SUMMARY   A man wearing a face mask walks past a closed Apple store at Sanlitun, as the country is hit by an outbreak of the new coronavirus, in Beijing, China February 7, 2020.

🌐 reuters

Ousted Credit Suisse CEO Thiam to collect up to $30 million: sources

  SUMMARY   FRANKFURT/ NEW YORK (Reuters) - Credit Suisse Chief Executive Tidjane Thiam, ousted over a spying scandal, stands to collect as much as 30 million Swiss francs ($30 million) after resigning this month, two people familiar with the matter said.

🌐 reuters

Oil prices fall on bearish demand forecasts

  SUMMARY   LONDON (Reuters) - Oil prices fell on Thursday after OPEC and IEA reports cut back demand forecasts for this year on the back of the coronavirus outbreak in China, the world’s biggest oil importer.

🌐 reuters

Javid’s resignation leaves new chancellor just three weeks to prepare budget

  SUMMARY   Rishi Sunak must add finishing touches to ambitious package billed as new dawn of spendingSajid Javid’s resignation as chancellor of the exchequer leaves his successor, Rishi Sunak, with little more than three weeks to pull together a budget that Boris Johnson has promised will bring a new dawn of spending.

🌐 the guardian

Jump in coronavirus cases yanks stocks rally into reverse

  SUMMARY   LONDON (Reuters) - A sharp rise in the number of coronavirus deaths and infections unnerved world markets on Thursday, as traders halted the rally in stocks and retreated to the safety of government bonds and gold.

🌐 reuters

Tesla seeks to raise $2 billion through stock offering

  SUMMARY   FILE PHOTO: A Tesla logo is seen at a groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai, China January 7, 2019.

🌐 reuters

Nestle boss Schneider eyes more deals to bolster growth ambitions

  SUMMARY   VEVEY, Switzerland (Reuters) - Nestle Chief Executive Mark Schneider will fine-tune his transformation plans with more acquisitions, he said after the Swiss food group lowered growth expectations on Thursday.

🌐 reuters

Ford boss urges re-think on electric hybrid car ban

  SUMMARY   Reflecting on the announcement, Mr Rowley said: "Plug-in hybrids can be an important part of technology mix."

🌐 bbc

Qualcomm to ask appeals court for vindication in FTC antitrust case

  SUMMARY   FILE PHOTO: A Qualcomm sign is pictured at Mobile World Congress (MWC) in Shanghai, China June 28, 2019.

🌐 reuters

Russian court fines Facebook $63,000 over data law breach: RIA

  SUMMARY   FILE PHOTO: The Facebook logo is displayed on a mobile phone in this picture illustration taken December 2, 2019.

🌐 reuters

Southwest extends 737 MAX flight cancellations through early August

  SUMMARY   FILE PHOTO: A number of grounded Southwest Airlines Boeing 737 MAX 8 aircraft are shown parked at Victorville Airport in Victorville, California, U.S., March 26, 2019.

🌐 reuters

Who is the new chancellor Rishi Sunak?

  SUMMARY   Image copyright Getty ImagesFollowing the shock resignation of Chancellor Sajid Javid, a new chancellor has been appointed.

🌐 bbc

China's phone industry urged to 'get back to work'

  SUMMARY   Image copyright Getty ImagesThe founder of Chinese tech giant Xiaomi has urged the country's smartphone industry to return to work.

🌐 bbc

Quick and easy ways to check account balance in Bank of Baroda

  SUMMARY   Choose the option ‘Balance Enquiry’ and it will be displayed on the screen.Bank of Baroda provides balance check facility through SMS services.

🌐 business insider

Newspaper giant McClatchy files for bankruptcy, hobbled by debt and declining print revenue

  SUMMARY   ADADThe publisher of the Miami Herald, Kansas City Star and other regional dailies has been saddled with debt since its $4.5 billion takeover of a much bigger rival, Knight Ridder, in 2006.

🌐 washington post

Nordstrom and Whole Foods offer alcohol to their customers. Is this retail genius or a public health problem?

  SUMMARY   The Nordstrom flagship store has seven bars and restaurants throughout the store.

🌐 washington post

Cabinet reshuffle: Sajid Javid resigns as chancellor

  SUMMARY   Sajid Javid has resigned as chancellor as Boris Johnson carries out a post-Brexit cabinet reshuffle.

🌐 bbc

DIGITAL IDENTITY AND THE FUTURE OF BANKING: How digital identity can slash the costs of onboarding and regulatory compliance by up to 70% for banks

  SUMMARY   There have been a plethora of efforts aimed at streamlining identity verification online, but these attempts have largely failed to address the issue in its entirety.

🌐 business insider

There’s a little-known employment contract provision enabling billions of dollars in wage theft each year

  SUMMARY   “But the reality is it’s a substantive economic issue.”ADADBaran’s brief concerns wage theft: when employers steal money from their workers by, for instance, not paying them overtime, requiring them to perform their duties off the clock, or not paying the minimum wage.

🌐 washington post

Why it’s important to remember what we don’t know about stocks

  SUMMARY   “What we can say is that relative to historical valuations, the stock market is quite richly valued,”Malkiel said.

🌐 washington post

'New year bounce' for UK housing market

  SUMMARY   Image copyright PA MediaActivity in the UK housing market picked up at the start of the year, surveyors say, with cautious expectations of the lift continuing.

🌐 bbc

Insurtech Research Report: The trends & technologies allowing insurance startups to compete

  SUMMARY   This report from Business Insider Intelligence, Business Insider's premium research service, will briefly review major changes in the insurtech segment over the past year.

🌐 business insider

Target, Best Buy could be hit by supply-chain disruptions because of coronavirus

  SUMMARY   Target Corp. and Best Buy Co. Inc. could be among the first U.S. companies to take a direct hit from the corona­virus outbreak as concerns grow about disruptions to supply chain networks in China.

🌐 start tribune

Coronavirus crisis: Global stock markets spooked by surge in cases

  SUMMARY   The recent rally in global stock market values, on hopes of a limited impact from the coronavirus crisis, has been stopped in its tracks following a surge in the number of reported deaths in China.

🌐 sky news

Barclays boss Jes Staley 'deeply regrets' sex offender link

  SUMMARY   Image copyright Getty Images Image caption Barclays chief executive Jes Staley has the full confidence of the board, the bank saidBarclays boss Jes Staley said he "deeply regrets" his connection with sex offender Jeffrey Epstein.

🌐 bbc

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