European shares mixed, Asian markets down…Fed looks to ease rule that limits risky bank trading…Trade tensions, oil price seen as threat to global growth
UPDATE (AP) – European shares were mixed today following a downbeat day in Asia, as markets were rattled by Italy’s political turmoil and renewed trade friction between the U.S. and China. In early trading, Germany’s DAX is down 0.2 percent, the CAC 40 in France has dropped 0.7 percent and Britain’s FTSE 100 has edged less than 0.1 percent lower. But Wall Street is expected to open higher, with S&P 500 and Dow futures both up 0.2 percent.
WASHINGTON (AP) – The Federal Reserve is set to ease a rule aimed at defusing the kind of risk-taking on Wall Street that helped trigger the 2008 financial meltdown. The Volcker Rule, crafted by a bevy of regulators 4 1/2 years ago, changed the way the biggest U.S. banks do business. It bars banks’ risky trading bets for their own profit with depositors’ money. The move is the latest effort by the government to loosen such restraints on banks.
PARIS (AP) – An international economic watchdog says threatened new trade barriers and rising oil prices could hurt long-awaited global economic growth. The Organization for Economic Cooperation and Development says that “the threat of trade restrictions has begun to adversely affect confidence” and tariffs “would negatively influence investment and jobs.” The forecast comes as President Donald Trump threatens tariffs or other limits on foreign steel and cars.
PARIS (AP) – Top European officials are holding last-ditch talks with the U.S. commerce and trade chiefs just two days before the Trump administration decides whether to hit Europe with new tariffs. U.S. Commerce Secretary Wilbur Ross and U.S. Trade Representative Robert Lighthizer are attending meetings today and Thursday at the Organization for Economic Cooperation and Development in Paris.
MADRID (AP) – A Britain-based financier who has spearheaded a United States law targeting Russian officials was briefly detained today in Spain. The temporary detention was made on a Russian, but authorities later confirmed it had expired. William Browder tweeted today that he was being arrested. He posted a photo saying he was in the back of a Spanish police car on the way to a police station.