Financial News

Sonny Bare
March 20, 2018
AP Newswatch
March 21, 2018
Financial News

 

A day of lows? … Fed expected to hike interest rates … France goes burger crazy
SEOUL, South Korea (AP) – World shares have been mostly lower today as some markets have given back early gains ahead of the Federal Reserve’s first decision on interest rates since the appointment of its new chair, Jerome Powell. In early trading, Germany’s DAX lost 0.1 percent, France’s CAC 40 declined 0.3 percent and Britain’s FTSE 100 fell 0.3 percent. Most Asian stocks closed lower or unchanged from the day before. Wall Street futures suggest that the Dow and S&P 500 will each open 0.2 lower.

 

UNDATED (AP) – Federal Reserve policymakers are wrapping up a two-day policy meeting today that is expected to result in another interest rate increase. The Fed has said it expects to raise interest rates a total of three times this year, and one of the key debates on Wall Street is whether it will wind up increasing rates three times or four. The current meeting is the Fed’s first since Jerome Powell became chairman, and investors will be watching his comments at an afternoon news conference.

 

WASHINGTON (AP) – President Donald Trump’s trade policies have sent industry groups, companies and foreign countries scrambling, looking for exemptions from tariffs of 25 percent on steel imports and 10 percent on imported aluminum. In the case of can manufacturers, their lobbying group says a tariff of 1 cent would lead to a $1.1 billion tax on consumers and businesses.

 

PARIS (AP) – Forget the baguette, the French are going crazy for burgers. Figures released this week have revealed that sales of France’s classic ham and cheese sandwich have been surpassed by sales of American-style burgers. The study by restaurant consultants Gira Conseil shows that about 1.2 billion ham and cheese sandwiches were sold in 2017, while 1.4 billion of burgers were eaten over the same period.

 

SAN FRANCISCO (AP) – A federal judge presiding over lawsuits accusing big oil companies of lying about global warming is turning his courtroom into a classroom in what could be the first court hearing to study the science of climate change. U.S. District Judge William Alsup has asked lawyers for two California cities and five of the world’s largest oil and gas companies to come to court today to present “the best science now available on global warming.”

AP-WF-03-21-18 1036GMT