Financial News

Financial News
June 5, 2018
AP-NC Newswatch
June 6, 2018
Financial News




Global markets higher… Key Senate GOP seek to challenge Trump over tariffs…Foxconn says it’s trade battle with US is really about technology


BEIJING (AP) – Global stocks markets followed Wall Street higher today ahead of a meeting of major industrialized economies overshadowed by tension over U.S. steel tariffs. In early trading, London’s FTSE 100 rose 0.2 percent. France’s CAC 40 edged up 5 points while Germany’s DAX lost 3.6 points. In Asia, Japan’s Nikkei rose 0.4 percent, Hong Kong’s Hang Seng advanced 0.4 percent and the Shanghai Composite Index added 1 point. On Wall Street, the future for the Dow Jones industrial average rose 0.3 percent while that for the S&P 500 gained 0.1 percent.


WASHINGTON (AP) – Leading Senate Republicans are taking the rare step of challenging the Trump administration on its effort to punish trading partners with import tariffs. They want to push legislation that would require Congress to approve of such tariffs, though passing a bill is a longshot. GOP lawmakers are mostly at odds with what they view as President Donald Trump’s protectionist instincts on trade. But many also hesitate to confront Trump and, in an election year, anger his supporters.


SHENZHEN, China (AP) – The head of Taiwan’s Foxconn, which assembles Apple iPhones and other tech products, says Washington’s dispute with China is over technology rather than trade. President Donald Trump is pressing Beijing to narrow its trade surplus with the United States. Trump also has threatened to raise tariffs on $50 billion of Chinese goods in response to complaints Beijing steals or pressures foreign companies to hand over technology.


WASHINGTON (AP) – U.S. lawmakers are pushing for tighter regulation or even closure of the more than 100 Chinese Confucius Institutes set up on campuses across America. But for university students, they offer a chance to learn about Chinese language and art. The institutes have become a testing ground for the U.S. response to China’s growing global reach, amid concerns that Chinese professors and students could exploit access to universities to gather intelligence and sensitive research.


NEW YORK (AP) – Staten Island has been the only New York City borough that hasn’t had a Shake Shack, but it’s getting one. The New York City-based restaurant chain will have a soft opening for Staten Island’s first Shake Shack on Sunday morning. The location is 3,000 sq. feet and is the first of many new restaurants to open at the Staten Island Mall following a renovation.



AP-WF-06-06-18 1041GMT