Financial News

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May 1, 2018
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May 2, 2018
Financial News

 

 

 

Shares higher in Europe … Fed decision day … Global military spending rises in 2017

 

BANGKOK (AP) – Shares have been higher in Europe today after a day of losses in most Asian markets. Investors are looking ahead to Federal Reserve meeting and to China-U.S. trade talks later in the week. Germany’s DAX has added 1.2 percent, France’s CAC 40 has gained 0.2 percent and the FTSE 100 has climbed 0.6 percent. In Asian markets, Japan’s Nikkei closed down 0.2 percent, Hong Kong’s Hang Seng lost 0.3 percent and The Shanghai Composite index was nearly flat. The Dow future is flat and the S&P future is 0.1 percent higher.

 

WASHINGTON (AP) – The Federal Reserve achieved an inflation milestone this week, but that isn’t likely to change expectations for what the Fed will announce when its latest policy meeting ends today. After six years of mostly missing its annual 2 percent target for inflation, the Fed learned Monday that its preferred gauge of consumer inflation had reached a year-over-year pace of 2 percent. But the Fed is still expected to leave its benchmark rate unchanged.

 

COPENHAGEN, Denmark (AP) – A Swedish arms watchdog says global military spending rose to $1.739 trillion last year, a 1.1 percent increase on 2016. The Stockholm International Peace Research Institute says China continued its upward trend that has lasted for more than two decades, Russian expenditure fell for the first time since 1998, and the United States’ military spending remained constant for the second consecutive year.

 

SEOUL, South Korea (AP) – South Korean biotech company Samsung Biologics Co.’s shares plunged as much as 11 percent in Seoul today after a regulator said Samsung breached accounting rules. Samsung said it will defend itself and has abided by accounting rules. At stake is whether or not the way Samsung Biologics evaluated the value of its affiliate Samsung Bioepis violated rules.

 

COLUMBUS, Ohio (AP) – The Ohio Supreme Court has set a date for arguments in a dispute over promotions offered by the Cincinnati Reds to ticket buyers including bobbleheads and other items. At issue is whether the Reds are exempt from paying tax on the purchase of the promotional items. The state Supreme Court on Tuesday scheduled oral arguments for June 13.

 

 

AP-WF-05-02-18 1040GMT