Financial News

Friday, May 4th
May 4, 2018
AP-NC Newswatch
May 4, 2018
Financial News

 

 

 

Markets lower…Jobs report coming…State of Black America

 

BEIJING (AP) – SEOUL, South Korea (AP) – Global stock markets were lower on Friday as investors watched the outcome of trade talks between the United States and China. China’s state media said big differences remain on some matters even after officials from the two countries said they agreed to set up a mechanism to work through an escalating dispute. Futures point to a lackluster start on Wall Street. Benchmark U.S. crude oil fell but remains above $68 per barrel. The dollar fell against the yen and strengthened against the euro.

 

WASHINGTON (AP) – U.S. jobseekers likely enjoyed April after slogging through a so-so March. The jobs report the government will issue later this morning is expected to show that employers added 190,000 jobs last month, according to a survey of economists by the market data firm FactSet. That gain would be nearly double the 103,000 jobs that were added in March. The unemployment rate is expected to have dipped to 4 percent after holding at 4.1 percent, a 17-year low, for six straight months.

 

WASHINGTON (AP) – African-Americans are among the top owners of mobile devices – but when it comes time to hire, tech companies aren’t looking to them. The National Urban League is highlighting this tech gap in its 2018 State of Black America report. The new report points out blacks are only 5 percent of the social media and technology workforce while being the one of the largest groups for mobile device ownership. National Urban League President Marc Morial says tech companies need to make sure minorities are included in their work forces.

 

BEIJING (AP) – Chinese and American officials meeting in Beijing agreed to set up a mechanism to work through an escalating dispute over trade at the end of talks Friday, But Chinese state media say “big differences” remain on some matters. The Commerce Ministry said the two sides discussed expanding U.S. exports to China, trade in services, the protection of intellectual property rights and how to resolve the use of tariffs and non-tariff measures, according to the official Xinhua News Agency, which did not reveal where there had been consensus.

 

HONG KONG (AP) – Global bank HSBC said Friday it’s launching its latest multibillion-dollar share buyback, as it released its first quarterly earnings report under its new chief executive, John Flint. The bank said that the buyback of up to $2 billion in shares will “commence shortly” and is the only one it plans for 2018. It follows $5.5 billion worth of share repurchases HSBC has carried out in the previous two years. London-based HSBC said pretax profit slipped 4 percent from a year ago to $4.8 billion as operating expenses for business investment and enhancing “digital capabilities” rose 13 percent, outpacing revenue.

 

 

AP-WF-05-04-18 1032GMT