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Bank of America Corp (BAC.N) shares dropped 1.9 percent after loan growth at the second-largest U.S. bank lagged rivals and fees from advising on deals and underwriting bonds fell in the third quarter. Apple Inc (AAPL.O) shares fell 2.1 percent and weighed the most on all three of Wall Street’s major indexes after Goldman Sachs said there were multiple signs of rapidly slowing consumer demand in China, which could affect demand for iPhones this fall. The top gainers on the S&P were L3 Technologies Inc (LLL.N), which jumped 12.8 percent, and Harris Corp (HRS.N), which climbed 11.9 percent, after the military communication equipment providers announced an all-stock merger to create the sixth-largest U.S. defense contractor.
NEW YORK (Reuters) - JP Morgan & Chase Co (JPM.N) Chief Executive Jamie Dimon and Ford Motor Co (F.N) Chairman Bill Ford canceled plans to attend a Saudi investor conference, the companies said on Sunday, the latest such high-profile announcements after the disappearance of Saudi journalist Jamal Khashoggi, The cancellations could add pressure on other U.S, firms like Goldman Sachs Group Inc (GS.N), Mastercard Inc (MA.N) and Bank of America Corp (BAC.N) to reconsider their plans to 2017 golden state warriors champions cufflinks attend the investor event..
Neither JP Morgan nor Ford would elaborate on the reasons for the decision not to attend the Future Investment Initiative conference in Riyadh later this month, and did not comment on whether concerns about the disappearance of Khashoggi were a factor. Khashoggi, a U.S. resident and Washington Post columnist critical of Riyadh’s policies, disappeared on Oct. 2 after entering the Saudi consulate in Istanbul. Turkey believes he was murdered and his body removed. Saudi Arabia has denied that.
The investment summit in Riyadh typically attracts executives from some of the world’s largest companies and media organizations, But it has rapidly become a vehicle for those firms to express their concerns over Khashoggi’s disappearance, U.S, President Donald Trump has threatened “severe punishment” if it turns out Khashoggi was killed in the consulate, although he said Washington would be “punishing” itself if it halted military sales to Riyadh, Major news organizations such as CNN, the Financial Times, the New York Times, 2017 golden state warriors champions cufflinks CNBC and Bloomberg have pulled out of the conference, The Fox Business Network, the lone Western news outlet still heading to the conference, told Reuters on Sunday it was reviewing that decision..
Uber Technologies Inc Chief Executive Dara Khosrowshahi, Viacom Inc (VIAB.O) CEO Bob Bakish and billionaire Steve Case, one of the founders of AOL, said they were no longer going . Goldman Sachs, Mastercard and Bank of America did not respond to requests on Sunday on whether they were still attending the event. Citigroup Inc (C.N) and Credit Suisse Group AG (CSGN.S) declined to comment on Sunday on their plans. Bill Winters, CEO of Asia, Africa and Middle East-focused bank Standard Chartered Plc (STAN.L) was still planning to go, the company said on Sunday.
The absence of media and technology executives is likely to case a shadow over the three-day event, dubbed “Davos in the Desert.” It has become the biggest show for investors to promote Saudi Crown Prince Mohammed bin Salman’s reform vision, “Whilst it is disappointing that some speakers and partners have pulled out, we are looking forward to welcoming thousands of speakers, 2017 golden state warriors champions cufflinks moderators and guests from all over the world to Riyadh,” a Future Investment Initiative representative said last week..
WASHINGTON (Reuters) - Short-term rentals of Jackie Howard’s two-bedroom home near major tourist attractions in Washington, D.C. have helped her family pay for everything from plumbing emergencies to braces for her daughter. After Tuesday, when the district council is expected to vote on whether rentals on platforms like Airbnb and HomeAway can continue in the U.S. capital, Howard’s listing and thousands of others may become illegal. The legislation would bar people from short-term rentals of secondary homes and limit rentals of primary residences to a maximum of 90 days a year if the owner is not physically present. There would be no restriction on short-term rentals if the owner is there.
Passing the legislation would make Washington the latest city to try to regulate the skyrocketing use of platforms like Airbnb, following other cities facing housing crises, like New York and San Francisco, AirDNA, a website that tracks Airbnb rentals, says there are nearly 7,000 Airbnb listings in Washington, and annual growth is 39 percent, Data on the total number of short-term rentals in Washington were not immediately available, The legislation passed unanimously in a preliminary vote earlier this month, If the council 2017 golden state warriors champions cufflinks votes in favor of the legislation in a second vote on Tuesday, it would then need approval from Mayor Muriel Bowser and congressional review..