Thursday, 20 Feb 2020

Charting successful technical tests: S&P 500, Nasdaq rally from first support

Netflix Spends $150M+ In New Mexico In 2019, Exceeding Spending Targets

One year after signing a deal to open its first U.S. production hub in New Mexico, Netflix has exceeded its spending targets in the state. The streaming giant spent more than $150 million in New Mexico in 2019, employing more than 2,000 production vendors and hiring over 1,600 cast and crew members, Economic Development Cabinet Secretary Alicia J. Keyes and Netflix said today.

Netflix signed the agreement to purchase Albuquerque Studios in January 2019, promising $1 billion in production spending over the next 10 years in exchange for economic development assistance from the State of New Mexico and City of Albuquerque.

The $150 million was spent across several productions, including El Camino, Army of the Dead, Chambers and Messiah.

Netflix also said it will begin production in March on the original film The Harder They Fall, starring Idris Elba and Jonathan Majors. Directed by Jeymes Samuel, the pic follows the story of an outlaw (Majors) who upon discovering that the man who killed his parents two decades ago is being released from prison, reunites with his gang to track his enemy down and seek revenge. Jay-Z, James Lassiter, Lawrence Bender, and Samuel produce.

The production will film in areas around Santa Fe County, including Diablo Canyon and some local ranches.

Netflix also is partnering with the state and NBCUniversal to launch a training program for below-the-line production jobs, with each pledging to donate $55,000 a year over the next decade to support the program.

Winnipeg police to release new details on homicide investigation

Winnipeg police will be releasing new information about a homicide investigation — potentially the city’s fourth of 2020 —  on Wednesday morning.

The police investigation has reportedly resulted in an arrest in connection with the case.

Police will also provide details on a separate, unrelated investigation into reports of shots fired on Pacific Avenue.

More information will be released at 10:45 a.m. Wednesday. Global News Winnipeg will livestream the police media briefing in the video player above.

Toyota adds 361K vehicles to 2.9M car Takata air bag inflator recall

Toyota announces huge recall; Americans are drinking less wine

Fox Business Briefs: Toyota is recalling nearly 700,000 vehicles in the U.S. because the fuel pumps can fail and cause engines to stall, increasing the risk of crashing; Americans are reportedly drinking less wine for the first time in 25 years.

DETROIT (AP) — Toyota is recalling 361,000 more vehicles worldwide to replace Takata air bag inflators that could explode and hurl shrapnel.

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TOYOTA RECALLS 2.9M VEHICLES; AIR BAGS MAY NOT INFLATE

The vehicles date to 1997 and have older inflators that are different from Takata products that use volatile ammonium nitrate to fill air bags in a crash. Those are the devices that led to numerous deaths. But the inflators in this recall can also explode with too much force and spew metal fragments that can endanger people.

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The recall covers gas and electric versions of the RAV4 SUV and the Celica sports car from 1997 to 1999. Also included are the 1997 through 1998 Supra sports car.

About 139,000 vehicles in the U.S. are covered.

HONDA RECALLS 2.7M NORTH AMERICAN VEHICLES FOR NEW AIR BAG INFLATOR DEFECT

Toyota will notify owners by mail starting in mid-March. The company doesn't have a fix yet but will tell owners when one is ready.

Owners can call Toyota with questions at (800) 331-4331.

Fairway Market says it’s in talks to keep some stores operating

Fairway Market denied on Wednesday that it is preparing to file for Chapter 7 bankruptcy protection, saying it’s in talks to save at least some stores.

“Fairway has been engaged in a strategic process and expects to soon announce a value maximizing transaction that will provide for the ongoing operations of stores,” a company spokeswoman said in a statement.

“Our lenders remain extremely supportive of our efforts,” the statement added. “All 14 stores remain open for business, offering a complete range of high quality, specialty food products, and we look forward to seeing our customers and employees.”

The spokeswoman declined to elaborate, and didn’t deny that the company was planning to close stores.

The Post reported Tuesday that the retailer has been planning for a Chapter 7 liquidation, even as at least one competitor — Village Super Market, the publicly held owner of ShopRite — has expressed interest in acquiring a handful of Fairway stores and possibly the Fairway name.

Insiders said it’s possible talks with Village or another competitor have reignited. Nevertheless, prospective buyers of Fairway owned by Brigade Capital Management and Goldman Sachs Group are facing the company’s $174 million debt load and expensive leases, including $6 million in rent on its flagship store, sources explained.

The company put itself up for sale last year, but has struggled to find a buyer.

Charting successful technical tests: S&P 500, Nasdaq rally from first support

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U.S. stocks are higher early Wednesday — though well off sessions highs — rising as the markets largely shrug off recent China virus concerns.

Against this backdrop, the S&P 500 and Nasdaq Composite have tagged their latest record highs, rising from successful tests of first support.

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