Stocks mostly gain…Trade talks to resume…Saudi crown prince in China
BEIJING (AP) – Most global stock markets rose Thursday following a listless day on Wall Street ahead of U.S.-Chinese negotiations aimed at ending a tariff battle. Futures point to opening gains on Wall Street. Benchmark U.S. crude oil gained slightly but remained below $57.50 per barrel. The dollar was down against the yen and the euro.
WASHINGTON (AP) – The Trump administration is set Thursday to resume high-level talks with Chinese officials, aiming to ease a trade standoff that’s unnerved global investors and clouded the outlook for the world economy. A Chinese delegation led by Vice Premier Liu He will meet in Washington with a U.S. team led by Trade Representative Robert Lighthizer. It will include Treasury Secretary Steven Mnuchin and Commerce Secretary Wilbur Ross.
BEIJING (AP) – Saudi Crown Prince Mohammed bin Salman arrived in China on Thursday on the latest stop of a sweep through Asia that seeks to boost relations with the kingdom’s neighbors amid frictions with the West. Prince Mohammed’s visit follows trips to India and Pakistan, which send millions of laborers to Saudi Arabia and are seeking closer economic ties. The visit underscores China’s attempts to balance its relationships in the Middle East.
LONDON (AP) – British bank Barclays says it set aside 150 million pounds ($196 million) to deal with economic uncertainty as Britain prepares to leave the European Union. The bank said Thursday that bad loans in its credit card and corporate lending businesses may increase amid “anticipated economic uncertainty in the U.K.” Britain is scheduled to leave the EU on March 29, ending more than 40 years of free trade with the bloc. Barclays says fourth-quarter pretax profit jumped to 374 million pounds from 93 million pounds a year earlier.
COPENHAGEN, Denmark (AP) – Danish shipping group A.P. Moller-Maersk is reporting a fourth quarter loss of $34 million, down from a $32 million profit a year earlier. Its fourth quarter revenue increased to $10.2 billion, from 8.4 billion. For all of 2018, revenue was up 26 percent to $8.1 billion with growth in all segments. Maersk said the revenue improvement was driven by higher freight rates, greater efficiency and synergies from the 2017 acquisition of German container shipping company Hamburg Sud.