May 26, 2019

Wall Street set to tank, Oil prices fall, Canada arrests Huawei’s CFO

Wall Street set to tank, Oil prices fall, Canada arrests Huawei’s CFO

Canada arrested Huawei’s CFO in Vancouver, where she is facing extradition to the United States. The shock arrest of Meng Wanzhou, the daughter of Chinese tech giant Huawei’s founder, is riling authorities in Beijing. (CNBC & Reuters)

* Arrest of Huawei CFO shows ‘the gloves are now fully off,’ says Eurasia Group (CNBC)

President Donald Trump called on China to seek the death penalty for distributors of fentanyl, a synthetic opioid linked to thousands of deaths in the United States each year. China is the largest source of the drug. (CNBC)

* Why states might start taxing opioids (Axios)

Mike Bloomberg, owner of Bloomberg LP, said he will likely try to sell his company if he becomes president. It would probably fetch more than $40 billion in a sale, according to two investment bankers familiar with its finances. (CNBC)

Former President George H.W. Bush’s body was carried inside St. Martin’s Episcopal Church in Houston yesterday. And mourners, some dressed in their finest and some in the clothing of blue-collar workers, paid final respects. (USA Today)

A weather system that’s gaining strength in California will become a powerful six-day, coast-to-coast storm, the National Weather Service said. At least a dozen states are expected to see snow and more than 20 will see rain. (USA Today)

Artie Starrs, president of Pizza Hut U.S., told investors he is “dissatisfied” with the company’s growth as same-store sales lag. It committed $130 million in 2017 to improve Pizza Hut’s equipment, technology and advertisements. (CNBC)

Google plans to kill chat app Allo by the middle of next year, it said in a blog post, confirming a report. The app will stop work in March 2019, at which point users will have to download any conversations they want to save. (CNBC)

SpaceX CEO Elon Musk shared video of the company’s rocket booster splashing down just off the Florida coast after missing its intended target. Musk tweeted that the rocket “appears to be undamaged” and “is transmitting data.” (CNBC)

The U.K. Parliament have released internal Facebook (FB) emails. Lawmakers say they show how execs, including CEO Mark Zuckerberg, gave some developers special access to user data and contemplated charging for access. (WSJ)

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