Global markets mixed … China ready to retaliate … Burberry to stop using real fur
SINGAPORE (AP) – Global markets have been mixed today on worries that the U.S. is on the verge of imposing tariffs on another $200 billion of Chinese goods in a mounting trade dispute. Many developing countries are in financial turmoil as rising interest rates and trade disputes rattled investors. In early trading, markets in Britain and France are up. Germany’s DAX is flat. Most Asian markets closed lower. Dow futures are up slightly and S&P futures are flat.
BEIJING (AP) – China’s government says it’s ready to retaliate if President Donald Trump goes ahead with plans for another tariff hike on Chinese goods. The Commerce Ministry expressed confidence it can maintain “steady and healthy” economic growth despite their spiraling trade battle. The Trump administration may be about to slap tariffs of up to 25 percent on an additional $200 billion in Chinese goods.
ORLANDO, Fla. (AP) – Thousands of Walt Disney World workers are voting on whether to accept a new contract that would increase the starting minimum wage to $15 an hour over the next three years while enabling Disney to use more part-time workers and require new workers to stay in their positions longer before transferring. The vote tally on Thursday comes after months of protests, negotiations and the rejection of a previous contract offer.
LONDON (AP) – The British luxury fashion brand Burberry will stop using real fur in its products. The company says there will be no real fur in its London Fashion Week catwalk show later this month. It will also phase out existing real fur products. The company has made only limited use of real fur in recent years with clothing incorporating fur from rabbit, fox, mink and Asiatic raccoon. Those will now be eliminated.
VILNIUS, Lithuania (AP) – Lithuania is lashing out at retailing giant Walmart for using the letters USSR as well as Soviet Union emblems on T-shirts and other products for sale in the country, and is demanding that the products be removed. The ambassador to the United States of the former Soviet republic says “horrific crimes were done under the Soviet symbols of a sickle and hammer.” Ambassador Rolandas Krisciunas wrote Wednesday to Walmart that “the promotion of such symbols resonates with a big pain for many centuries.”