World stocks rise … China says Washington asks to resume talks on tariff fight … Businesses likely to feel Florence’s punch
SINGAPORE (AP) – Many global markets are climbing on a report that the U.S. has proposed a new round of trade negotiations with China before going ahead with plans to slap tariffs on $200 billion or more in Chinese goods. Investors are also watching European Central Bank and Bank of England meetings, where no policy changes are expected. France’s CAC 40 gained 0.3 percent in early trading and the DAX in Germany added 0.5 percent. Asian
BEIJING (AP) – China’s government says Washington has asked to resume negotiations on their worsening tariff dispute. A foreign ministry spokesman says the two sides are working out the details. The announcement followed reports by foreign chambers of commerce in China that companies have been hurt by tariffs imposed by both sides on $50 billion of each other’s goods. The Trump administration is due to decide whether to impose new duties on an additional $200 billion of Chinese products.
MIAMI (AP) – Businesses across the Carolinas, Virginia and Georgia will likely suffer financial losses from an approaching Hurricane Florence, with ports closing, farmers moving their livestock and expected power outages that could last for weeks. The losses won’t be easily or quickly overcome. But it could have been worse: Labor Day marked the end of the peak tourism season in the Outer Banks of North Carolina and other coastal getaways. There are now fewer tourists to send away.
LONDON (AP) – Britain is warning the European Union that it will only make its full divorce payment if there is a Brexit deal. Brexit Secretary Dominic Raab told the BBC today that Britain would pay “significantly, substantially” less than the already agreed upon 39 billion pounds ($51 billion) in the event no agreement is reached.
ANKARA, Turkey (AP) – Turkish President Recep Tayyip Erdogan (REH’-jehp TY’-ihp UR’-doh-wahn) reiterating his opposition to interest rate hikes as the central bank was set to discuss possible changes to its monetary policy amid broad concerns over the weakening currency. The bank said earlier this month that it would adjust its monetary policy, raising hopes amid economists that it would increase interest rates today. Erdogan says interest rates, which he calls an “instrument for exploitation” should be cut.