Stocks rise…China takes shots at Trump trade policies…Comcast loses cable users, but internet subscribers surge
NEW YORK (AP) – Stocks are rising in morning trading on Wall Street following a crop of strong fourth-quarter earnings reports from companies including IBM, consumer products maker Proctor & Gamble, and manufacturer United Technologies. That’s helping indexes recover a chunk of their losses yesterday. Bond prices turned lower and yields rose.
DAVOS, Switzerland (AP) – China’s vice president has taken not-so-veiled shots at President Donald Trump’s aggressive trade policies in a speech to global elites at a ski resort in the Swiss Alps. Vice President Wang Qishan said at the World Economic Forum that “Shifting blame for one’s own problems onto others will not resolve the problems.” The United States and China, the world’s two biggest economies, have imposed heavy taxes on each other’s imports in a dispute over Beijing’s aggressive push to challenge American technological dominance.
TORONTO (AP) – Canada’s ambassador to China says a top Chinese executive has a strong case to avoid extradition to the United States. Ambassador John McCallum told Chinese language media yesterday that Huawei (WAH’-way) executive Meng Wanzhou (muhng wahn-JOH’) has “quite good arguments” including “comments from Donald Trump on her case.” Canada arrested the daughter of Huawei’s founder at the request of the U.S. on Dec. 1. She is wanted on fraud charges that she misled banks about the company’s business dealings in Iran. Trump said last month he might abandon the case in pursuit of a trade deal with Beijing.
NEW YORK (AP) – Comcast continues to lose its U.S. cable customers, but it racked up more internet subscribers and got a revenue boost from Sky, its big bet on European TV. The Philadelphia company says it lost 29,000 U.S. cable customers in the fourth quarter, but added 351,000 internet subscribers. It also gained customers in its new cellphone-plan business.
ANGELES (AP) – Los Angeles public school teachers are back on the job after a six-day strike. The hundreds of Los Angeles Unified School District campuses are back to normal Wednesday after teachers ratified a contract deal hammered out in marathon bargaining over the past weekend. The deal includes a 6 percent pay hike and a commitment to reduce class sizes over four years.