Xxx … Disney closes $71B deal for Fox entertainment assets … Fed expected to keep short-term rate
BANGKOK (AP) – Shares were mostly lower in Europe in early trading today ahead of the Federal Reserve’s policy statement, after a lackluster day of trading in Asia. Germany’s DAX sank 0.8 percent and the CAC 40 in France gave up 0.1 percent. Britain’s FTSE 100 slipped less than 0.1 percent. In Asia, the Shanghai Composite was flat and Hong Kong’s Hang Seng fell 0.5 percent. Wall Street is anticipated a steady start with Dow and S&P futures each up 0.1 percent.
UNDATED (AP) – Disney has closed its $71 billion acquisition of Fox’s entertainment business in a move set to shake up the media landscape. The closure paves the way for Disney’s upcoming streaming service, Disney Plus. By buying the studios behind “The Simpsons” and X-Men, Disney aims to better compete with technology companies such as Amazon and Netflix for viewers’ attention – and dollars.
WASHINGTON (AP) – The Federal Reserve is expected to end its latest policy meeting today by refining its new overarching message that it plans to be “patient” about any further interest rate hikes. The Fed is all but sure to keep its key short-term rate in a range of 2.25 percent to 2.5 percent, still low by historical standards. And most analysts think the policymakers will scale back their projection of rate hikes this year from two to one or perhaps even none.
WASHINGTON (AP) – President Donald Trump has nominated a former Delta executive to lead the Federal Aviation Administration as the agency deals with questions about its approval of a Boeing jet involved in two deadly crashes. Meanwhile, the Transportation Department confirms that its inspector general will examine the FAA’s review of the Boeing 737 Max 8 aircraft. The FAA stood by the safety of the plane days after other countries grounded it.
BERLIN (AP) – British Prime Minister Theresa May is preparing to ask the European Union for a short delay to the country’s divorce from the European Union. Britain’s Press Association is citing sources in the prime minister’s office as saying May will write to EU leaders today to formally request “a bit more time.”