Financial News

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June 20, 2018
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June 21, 2018
Financial News




Global stock markets mixed … EU hopes to ‘make noise’ in trade debate … Turkey imposes tariffs on some US products


TOKYO (AP) – Global stock markets were mixed today amid concern over the trade tensions between the U.S. and China. Uncertainty remains, but the original tariff threats made earlier in the week were not followed through. In early Frances CAC 40 was almost unchanged and Britain’s FTSE 100 rose by 0.3 percent, but Germany’s DAX shed 0.3 percent. Earlier, Japan’s Nikkei finished up 0.6 percent and South Korea’s Kospi dropped 1 percent. Wall Street is expected to open higher with Dow futures up less than 0.1 percent and S&P futures up 0.1 percent.


WELLINGTON, New Zealand (AP) -European Union Trade Commissioner Cecilia Malmstrom says it has targeted some iconic American imports like Harley-Davidson motorbikes and bourbon for tariffs in hopes that it will “make noise” in the trade debate and put pressure on U.S. leaders. The EU announced this week it would begin taxing U.S. imports worth about $3.4 billion from Friday, in response to President Donald Trump’s decision to put tariffs on European steel and aluminum.


WASHINGTON (AP) – Turkey is imposing tariffs on nearly two dozen U.S. products, ranging from cars to sunscreen, to strike back at Washington’s sanctions on imported steel and aluminum. According to documents filed with the World Trade Organization, Turkey will slap $267 million in tariffs on $1.8 billion worth of products the United States exports to Turkey. The tariffs, which take effect today, are in retaliation for President Donald Trump’s decision to tax foreign steel and aluminum.


BERLIN (AP) – German automaker Daimler AG has lowered its 2018 earnings outlook, a change that it says is partly due to increased import tariffs for U.S. vehicles in China. The company says it now sees fewer SUV sales and higher costs at its Mercedes-Benz Cars division than previously expected, as a result of the tariffs. Daimler also says earnings at the Mercedes-Benz Vans division will be hit by the recall of diesel vehicles. It said it now expects full-year earnings before interest and taxes to come in slightly below last year’s level.


BOSTON (AP) – The consumer watchdog group World Against Toys Causing Harm is issuing its annual summer safety report flagging toys it says pose a danger to children. The group, known as W.A.T.C.H., says more than 2.5 million American children are injured each summer, and that many of those accidents are preventable. Last summer, the organization singled out fidget spinners – those popular plastic and metal toys that users spin around a finger – saying they pose a choking hazard.



AP-WF-06-21-18 1036GMT