10 things you need to know in markets today

Good morning! Here’s what you need to know.

1. Apple appointed a new executive to oversee its Apple Music streaming business and hit 48 million subscribers. Apple said it had appointed Oliver Schusser as vice president of Apple Music and international content.

2. Volkswagen is aiming to list its trucks and buses division in the first quarter of next year. The company’s headquarters would move to Munich from Braunschweig.

3. Uber CEO Dara Khosrowshahi said the ride-sharing company still believes in the prospects for autonomous vehicles. This comes after a company vehicle was involved in a fatal self-driving crash in Arizona last month.

4. Paulson & Co, the hedge fund firm led by billionaire investor John Paulson, has taken a stake in Viacom. The US media company has started to turn around its business amid a challenging landscape.

5. Vietnam urged greater vigilance against cryptocurrency transactions and investments. Officials in its economic hub asked police to investigate what could prove to be the country’s largest cryptocurrency fraud.

6. Euroclear suspended automated processing of deals involving securities hit by the latest US sanctions on Russian companies and individuals. “In light of the new sanctions, we have implemented measures to allow us to monitor that any activity in the impacted securities takes place within the limits of permitted activities under these sanctions,” the Belgium -based firm said in a statement.

7. JPMorgan has been hit with a lawsuit in Manhattan federal court accusing it of charging surprise fees when it stopped letting customers buy cryptocurrency with credit cards.The lawsuit said the bank charged extra fees and refused to refund the charges when customers complained.

8. Toys ‘R’ Us has received multiple bids of more than $US1 billion for an 85% stake in its Asian business. The company, which is liquidating or selling its operations, is also in advanced discussions with a buyer for its Central European business.

9. Uberis planning to offer more modes of transportation for riders through its app, giving people more ways to get around in cities. Later this month in San Francisco, the ride hailing firm is launching Uber Rent in collaboration with Getaround, a peer-to-peer car sharing service where privately owned cars are available for rent.

10. Trade unions in Germany piled more pressure onto public sector employers with a second day of nation-wide wage strikes. Thousands of workers staged walkouts at hospitals, childcare centres and waste depots.

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