1. Race for driverless cars: SoftBank ( and )Toyota ( are forming a joint venture that will use driverless car technology to offer new services such as mobile convenience stores and delivery vehicles that prepare food on the go. )
SoftBank will own just over half of Monet, the new business, and Toyota will own the rest.
It’s the latest in a series of driverless development partnerships announced by tech companies and automakers. SoftBank’s $100 billion Vision Fund, its technology-focused investment arm, has already committed $2.3 billion to General Motors’ self-driving car unit GM Cruise.
on wednesday Honda ( and )General Motors ( he said they were coming together to create a new generation of fully autonomous vehicles. )BMW ( He has joined the board of Apollo, the autonomous driving project of the Chinese Internet company )Baidu (. )
2. In the Facebook research: The Irish Data Protection Commission has launched a formal investigation into a Facebook ( The hack that affected 50 million accounts. )
The commission will investigate whether the company has met its obligations under new European data protection laws that came into effect in May. Facebook said last week it had closed the loophole, but 90 million users were forcibly terminated from their accounts as a precaution.
Irish regulators are investigating Facebook because its international headquarters are in Dublin.
There are still many unanswered questions surrounding the hack: Who did it? And what were they trying to get into?
3. Selling bonds: US 10-year Treasury yields rose to a seven-year high following the release of positive economic data.
U.S. hiring data released on Wednesday was stronger than expected, and the momentum could continue on Thursday if initial claims numbers add to the optimism. A strong US economy and expectations of a rate hike by the Federal Reserve are fueling the trend.
“The basic message is that the US economy is not in good shape, it’s on fire,” said Kit Juckes, a strategist at Societe Generale.
4. CNN means business: On Thursday, CNNMoney will become the new CNN Business, featuring the companies, personalities and innovations that drive business forward.
This new initiative will focus on the biggest financial story of our generation: how technology is disrupting every corner of the global economy, forcing companies, workers and society itself to adapt quickly or be left behind.
5. Global Market Overview: US stock futures were lower.
European markets were lower in early trade after a negative trading session in Asia. The Shanghai Composite was closed for the holidays.
The Dow Jones industrial average closed 0.2% higher on Wednesday, while the S&P 500 added 0.1% and the Nasdaq gained 0.3%.
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6. Profits and economy: Constellation Marks ( it will take profits before the opening. )Costco ( is set to continue after closing. )
He shares Danish bank ( It opened 3% lower after the lender said it had received requests for information from the US Department of Justice over a money-laundering scandal. )
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7. Coming this week:
Thursday — Costco ( earnings; Launched CNN Business )
Friday – US jobs report
CNNMoney (London) Posted October 4, 2018: 5:07 am ET