Feb 28, 2017

Big in Business: Takata pleads guilty

Shizuo Kambayash/AP

Auto parts maker Takata pleaded guilty Monday and will pay $1 billion in criminal penalties for a crime related to the company's manufacture of defective airbags, which are linked to 11 deaths and hundreds of injuries in the U.S. The Japanese firm has taken outside investment from a rival and is considering bankruptcy. Plaintiffs lawyers are also suing auto manufacturers like Toyota and Ford, alleging they installed Takata airbags in their cars despite being aware of the dangers they posed.

Let the renegotiations begin: The Senate confirmed Commerce Secretary Wilbur Ross Monday evening, meaning that the turnaround specialist can finally get to work renegotiating NAFTA. The Trump Administration, however, is hasn't been clear on what exactly it wants to accomplish by the talks.

Investors eye Trump speech: Pantheon Macro's Ian Shepherdson sees a growing conflict between the Trump White House and Congressional budget hawks. The president talks tough on the deficit, but early signs point to his pushing higher deficits to make good on his promise to cut taxes and protect entitlements. Stock markets will love an endorsement of this strategy during tonight's speech, but Shepherdson argues Treasury bond markets "will take fright" at the debt such a strategy would accrue.

Go deeper

South Korea and Italy step up emergency measures as coronavirus cases jump

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus has spread to more nations as South Korea and Italy step up emergency measures in their countries amid rising case numbers on Sunday.

The big picture: COVID-19 has killed at least 2,462 people and infected almost 79,000 others, mostly in mainland China. South Korea increased the infectious disease alert to red, the highest possible, as its case numbers jumped to 602 and the death toll to five. Italy's government announced emergency measures, with several towns in the north effectively placed in lockdown, as it confirmed two deaths and infections rose to 79.

Go deeperArrowUpdated 3 hours ago - Health

Bernie Sanders wins Nevada caucus

Democratic presidential candidate Sen. Bernie Sanders waves to supporters at a campaign rally on Friday in Las Vegas. Photo: Mario Tama/Getty Images

Sen. Bernie Sanders is projected to handily win the Nevada Democratic primary caucus, becoming the clear frontrunner among 2020 Democratic presidential primary election candidates.

Why it matters: Nevada is the first state with a diverse population to hold a nominating contest, highlighting candidates' abilities to connect with voters of color — particularly Latino voters.

Go deeperArrowUpdated 3 hours ago - Politics & Policy

Heat wave melts 20% of snow cover from Antarctic island in days

The effects of February's record heat wave on Eagle Island in Antarctica. Photo: NASA

Antarctica's Eagle Island now has a side that's almost ice-free following this month's searing heat wave in the region, images released by NASA show.

Why it maters: "The warm spell caused widespread melting on nearby glaciers," NASA said in its report. It's the third major melt event of the 2019-2020 Southern Hemisphere summer, following warm spells in January and last November, according to the United Nation's World Meteorological Organization (WMO).