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Syrian military strikes were successful, Pentagon says

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Defense Secretary James Mattis called the strikes a “one time shot” and said that they were aimed at Syrian government’s chemical weapons infrastructure.

“Clearly, the Assad regime did not get the message last year,” Mattis said Friday evening from the Pentagon.

“Together we have sent a clear message to Assad and his murderous lieutenants that they should not perpetrate another chemical weapons attack for which they will be held accountable.”

Speaking alongside Mattis, Chairman of the Joint Chiefs of Staff Gen. Joseph Dunford named three targets that were struck in the military operation. The first target was the Syrian Scientific Studies and Research Center, a government body responsible for research and development of advanced weapons systems.

“The second target was a chemical weapons storage facility west of Homs, we assess that this was the primary location of Syrian sarin and precursor production equipment,” Dunford said.

The last target was a chemical weapons storage facility as well as a military command post.

And while Dunford would not describe the military assets that were deployed, he added that, “this wave of air strikes is over.”

Neither Mattis or Dunford addressed possible Russian or Syrian retaliation to the U.S.-led strikes.

The coordinated strikes came on the heels of an alleged chemical weapons attack believed to be carried out by forces aligned with the Assad regime in Douma, a town that was held by Syrian rebels.

The Assad regime has denied responsibility for the April 7 attack, and has since repositioned a significant amount of air assets to Russian-controlled airfields in hopes that Washington would be reluctant to strike there.

“I am confident the Syrian regime conducted a chemical attack on innocent people in this last week,” Mattis said, noting that the U.S. government had enough intelligence to carry out the strike.

Meanwhile, Russian President Vladimir Putin called for a meeting of the U.N. Security Council to discuss what Moscow decried as an unjustified attack on a sovereign state. Diplomats said the meeting would take place in New York around noon.

Syrian state media called the attack a “flagrant violation of international law.” Iran’s Supreme Leader Ayatollah Ali Khamenei called it a crime, and branded Western leaders as criminals.

–Reuters contributed to this report.

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Uber wins legal fight to regain London license

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A man holding up a smartphone with the Uber transport app visible on screen, while taxis queue in the background, on June 4, 2019. (Photo by Olly Curtis/Future via Getty Images)

Olly Curtis | Future | Getty Images

Uber won its legal fight to continue operating in London on Monday, as a judge overturned a ban on the ride-hailing app by the city’s transport regulator.

Last year, TfL stripped Uber of its license for a second time — it first declined to renew Uber’s London license in 2017 — citing a “pattern of failures” that had put passengers at risk.

The watchdog said a glitch in Uber’s systems allowed unauthorized drivers to upload their photos to other driver accounts and fraudulently pick up passengers in at least 14,000 journeys.

Uber had tried to allay the regulator’s passenger safety concerns, introducing a new system in April to verify drivers’ identities through a mix of facial recognition and human reviewers.

London is Uber’s largest market by far in Europe. The company has racked up around 3.5 million users and 45,000 drivers in the U.K. capital since launching there in 2012.

It’s the city’s top ride-hailing player but faces heavy competition from several new operators including India’s Ola and Estonia’s Bolt.

This is a breaking news story. Please check back for updates.

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Dow futures up 200 points following a 4-week losing streak

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Spencer Platt | Getty Images News | Getty Images

Stock futures climbed in early morning trading on Monday following a four-week losing streak on Wall Street.

Futures on the Dow Jones Industrial Average rose 213 points. S&P 500 futures and the Nasdaq 100 futures also traded in positive territory as well.

The S&P 500 and the 30-stock Dow were coming off their fourth straight negative week, shedding 0.6% and 1.8%, respectively. It marked the first time since August 2019 that the two benchmarks suffered a four-week losing streak.

The tech-heavy Nasdaq eked out a 1% gain last week, posting its first positive week in four as the technology sector rebounded slightly from the recent deep rout. 

Signs of a worsening pandemic continue to keep investors on edge. New daily coronavirus cases topped 1,000 in New York state on Saturday, marking the first time the state’s new infections have broken the 1,000 threshold since early June.

Major averages are on track to post steep losses for September, a historically weak month for stocks. The Dow and the S&P 500 have fallen 4.4% and 5.8%, respectively, while the Nasdaq has dropped 7.3%. The declines followed a massive comeback from the coronavirus sell-off that saw the S&P 500 climb more than 50% from its March bottom.

“When markets get to the kinds of extremes we saw a month ago, it tends to take a very deep correction before the worst is behind us,” Matthew Maley, chief market strategist at Miller Tabak, said in a note on Sunday. “It also usually sees several ‘waves’ of a decline.” 

Investors continue to monitor the developments on further fiscal stimulus after negotiations between House Democrats and the Trump administration fell apart in early August.

House Speaker Nancy Pelosi said Sunday a last-minute coronavirus aid deal remains on the table as House Democrats try to forge ahead on a smaller aid package costing about $2.4 trillion. The chamber could vote on the bill as soon as next week.

Meanwhile on Saturday, President Donald Trump announced that he will nominate Judge Amy Coney Barrett to fill the vacancy left by the death of Justice Ruth Bader Ginsburg on the Supreme Court.

The move sets up a confirmation fight just weeks before Election Day. Hearings to consider Trump’s nominee are set to begin Oct. 12, Senator Lindsey Graham said late Saturday.

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K-pop sensation BTS’ label prices IPO at top end of range

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South Korean boy band BTS backstage during the 61st Annual GRAMMY Awards at Staples Center on February 10, 2019 in Los Angeles, California.

John Shearer | Getty Images Entertainment | Getty Images

SINGAPORE — Shares of Big Hit Entertainment, the music label behind global K-pop phenomenon BTS, were priced on Monday at the top end of the range ahead of their highly anticipated market debut.

Big Hit Entertainment’s stock price was set at 135,000 South Korean won (approx. $115) per piece, according to a regulatory filing on Monday. That was at the top end of the 105,000-135,000 won per share range which was earlier announced. Big Hit is expected to make its market debut in October.

According to the regulatory filing, Big Hit will also raise 962.55 billion Korean won (approx. $820 million) through the offering. The stock was 1,117 times oversubscribed by institutional investors, the filing showed.

Entertainment stocks in South Korea popped on the back of the IPO pricing announcement by Big Hit. Shares of YG Entertainment were up nearly 10%, JYP Entertainment were higher by 8.36% and SM Entertainment jumped more than 6%.

A recent Reuters report indicated that retail investor interest for Big Hit’s IPO is expected to be strong, with fans of BTS reportedly looking to secure shares of the label.

Reuters also said demand among South Korean retail investors for new share listings has been strong as markets are filled with cash after government stimulus efforts to prop the coronavirus-hit economy.

Earlier in September, South Korean video game publisher Kakao Games saw a blockbuster market debut, and shares surged by the daily permissible limit of 30% on their first trading day.

— CNBC’s Chery Kang contributed to this report.

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