Markets slip…New China economic czar…Japan exports grow
BEIJING (AP) – Most global stock markets retreated today following Wall Street’s gain and China’s appointment of a new central bank governor and other top economic officials. Futures point to opening losses on Wall Street. Benchmark U.S. crude oil fell to just above $62 per barrel. The dollar edged down against the yen and advanced against the euro.
BEIJING (AP) – A U.S.-trained economist is gthe successor to the longtime governor of China’s central bank at a time when the ruling Communist Party is trying to reduce financial risks and surging debt. The elevation of Yi Gang, a two-decade veteran of the central bank, to head the People’s Bank of China was in a slate of promotions approved by China’s ceremonial legislature of finance and economic officials as President Xi Jinping tightens control over government.
TOKYO (AP) – Japan’s exports grew 1.8 percent in February compared to the same month a year earlier, as the surplus fell to just $32 million, according to customs data released Monday. Exports are expected to remain strong in coming months, boosted by a strong global economy, though worries are deepening about a possible trade war over President Donald Trump’s plan to impose 25 percent tariffs on steel and 10 percent on aluminum.
NEW YORK (AP) – Not since “Avatar” has a box-office hit had the kind of staying power of “Black Panther.” Ryan Coogler’s comic-book sensation on Sunday became the first film since James Cameron’s 2009 smash to top the weekend box office five straight weekends. The Disney release grossed $27 million in ticket sales over the weekend, according to studio estimates, pushing its domestic haul to $605.4 million. That left second place to the MGM-Warner Bros.’ rebooted “Tomb Raider,” The $90 million film opened with $23.5 million. “I Can Only Imagine,” “A Wrinkle in Time,” and “Love, Simon,” round out the top 5.
BERLIN (AP) – A group representing European carmakers is urging Brexit negotiators to urgently address issues affecting the auto industry and prevent “potentially disastrous implications” for its supply chain. Britain is due to leave the European Union at the end of March 2019, but its post-Brexit relationship with the EU has yet to be worked out. EU leaders are set to approve an outline for future negotiations with Britain at a summit later this week.