Global stocks slip…China welcomes US visit amid trade spat…Comcast challenges Murdoch with rival bid for Sky
TOKYO (AP) – Global shares fell back today, mirroring a sell-off on Wall Street triggered by worries over slowing growth and falling profits. In early trading, France’s CAC 40 edged nearly 0.1 percent lower, Germany’s DAX slipped nearly 0.8 percent and Britain’s FTSE 100 lost 0.4 percent. Japan’s Nikkei closed 0.3 percent lower, the Shanghai Composite shed nearly 0.4 percent and South Korea’s Kospi lost 0.6 percent. Dow and S&P futures are each down 0.2 percent.
BEIJING (AP) – China says it welcomes a planned visit by U.S. Treasury Secretary Steve Mnuchin (mih-NOO’-shin) to Beijing next week amid trade tensions between the world’s two largest economies. Foreign ministry spokesman Lu Kang says that China looks forward to the visit for “consultation on trade and economic issues.” The U.S. and China are engaged in their most serious trade dispute since World War II, with each side proposing tens of billions of dollars in retaliatory tariffs.
LONDON (AP) – U.S. media conglomerate Comcast has made a $30 billion bid for London-based pay TV operator Sky in move that threatens a rival bid by Rupert Murdoch. Comcast CEO Brian Roberts says his company’s cash offer values each Sky share at 12.50 pounds, above the 21st Century Fox offer of 10.75 pounds. 21st Century Fox issued a statement saying it remains committed to its offer and is “currently considering its options.”
WASHINGTON (AP) – The maker of a much-debated e-cigarette that has grown popular with teenagers says it will spend $30 million in an effort to keep its products out of the hands of underage users. The announcement from Juul (JOO-‘uhl) Labs comes one day after the Food and Drug Administration questioned the design and marketing of the company’s small, sleek vaping devices.
WASHINGTON (AP) – The company formerly known as Yahoo is paying a $35 million fine to resolve federal regulators’ charges that the online pioneer deceived investors by failing to disclose one of the biggest data breaches in internet history. Personal data was stolen from hundreds of millions of Yahoo users in the December 2014 breach attributed to Russian hackers. Yahoo is now called Altaba. Its email and other digital services were sold to Verizon Communications for $4.48 billion last year.