Shares fall in Europe, Asia … US farmers struggle to pay back loans … BMW, Daimler teaming up on automated driving technology
BANGKOK (AP) – Shares fell today in Europe and Asia, with South Korea’s benchmark sinking 1.8 percent, after talks between President Donald Trump and North Korean leader Kim Jong Un ended abruptly without an agreement. In early European trading, Britain’s FTSE 100 lost 0.7 percent while the DAX in Germany fell 0.4 percent. The CAC 40 in France lost 0.2 percent. Japan’s Nikkei closed down 0.8 percent while the Shanghai Composite fell 0.4 percent. Dow and S&P futures suggest that Wall Street will open lower.
WICHITA, Kan. (AP) – The nation’s farmers are struggling to pay back their loans after years of low crop prices. Figures recently compiled show an overall jump nationwide in delinquencies for producers with direct loans from the Agriculture Department’s Farm Service Agency. David Schemm, executive director of the Kansas Farm Service Agency, says 19.4 percent of FSA direct loans nationwide were delinquent in January, compared to 16.5 percent the same month a year ago.
FRANKFURT, Germany (AP) – Automakers BMW and Daimler say they will work together on developing the automated driving technology expected to transform the industry in the years ahead. The companies say it would be a “long-term strategic cooperation” to more quickly come up with advanced driver assistance systems, automated driving on closed spaces such as highways and automated parking. The partnership comes as automakers try to fend off competition from tech companies such as Uber and Waymo.
UNDATED (AP) – Security experts say the U.S. government is likely exaggerating the threat it says the Chinese telecommunications giant Huawei (WAH’-way) poses to the world’s next-generation wireless networks. Critics say the U.S. case is short on specifics and glosses over the fact that China doesn’t need secret access to Huawei routers to infiltrate global networks that already have notoriously poor security.
BANGKOK (AP) – A temporary closure of air space over Pakistan has snarled air traffic today, especially between Asia and Europe, though some airlines have adjusted by rerouting their flights. In Bangkok, an important and busy hub for transcontinental flights, thousands of travelers were stranded. The closure of a main route for many flights to the Middle East and Europe is likely to be costly for airlines having to carry extra fuel and take longer journeys than usual.