Financial News

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March 7, 2019
AP-NC Newswatch
March 7, 2019
Financial News

 

 

 

 

Global shares mostly lower … China’s Huawei sues to challenge US security law … EU nations reject Commission money laundering blacklist

 

 

TOKYO (AP) – Global shares were mostly lower today as optimism about progress in trade talks between the U.S. and China appeared to be wearing thin. France’s CAC 40 slipped 0.3 percent in early trading, while Germany’s DAX lost 0.5 percent. Britain’s FTSE 100 fell 0.4 percent. In Asia, Japan’s benchmark Nikkei 225 closed down 0.7 percent and Hong Kong’s Hang Seng dipped 0.9 percent. U.S. shares are set to drift lower, with Dow and S&P futures down.

 

SHENZHEN, China (AP) – Chinese tech giant Huawei is asking a U.S. federal court to throw out part of a law that labels the company a security risk and would limit its access to the American market for telecom equipment. Huawei’s complaint, filed in Plano, Texas argues that the U.S. military appropriations act violates the constitutional separation of powers, denies due process and singles the company out for adverse treatment. Huawei is at the center of U.S.-Chinese tensions over technology competition and cyber-spying.

 

BRUSSELS (AP) – European Union member states have unanimously rejected a proposal by the EU executive Commission to blacklist 23 countries and territories it believes pose a high risk of money laundering or terrorist financing. In a rebuke for the EU Commission, the member states said in a statement today that the proposal “was not established in a transparent and resilient process.” The list included such nations like Saudi Arabia, North Korea and Nigeria, and four U.S. overseas territories, which drew the ire of the U.S. government.

 

SAN FRANCISCO (AP) – Facebook says its priority is now keeping private the conversations people have on its messaging services. CEO and co-founder Mark Zuckerberg laid out the company’s new strategy Wednesday, saying Facebook will encrypt messaging services to shield them from even its own eyes. It’s a partial response to two years of turmoil over Facebook’s privacy lapses and other problems.

 

LOS ANGELES )AP) – WarnerMedia is investigating a report that Warner Bros. chairman and CEO Kevin Tsujihara promised acting roles in exchange for sex as detailed in The Hollywood Reporter. Wednesday’s expose comes two days after AT&T owned WarnerMedia announced an expanded role for Tsujihara, who is already at the head of one of the biggest studios in Hollywood. An attorney for Tsujihara says he didn’t help actress Charlotte Kirk get roles and she denies that any inappropriate behavior occurred with Tsujihara.

 

 

AP-WF-03-07-19 1136GMT