Shares tumble in Europe, Asia…Survey: Business economists see slowdown in growth this year…May continues Brexit battle
BANGKOK (AP) – Shares tumbled in Europe and Asia today after Wall Street ended last week with a broad retreat. In early trading, Germany’s DAX dropped 0.3 percent and the FTSE 100 in Britain lost 0.4 percent. The CAC 40 in France declined 0.6 percent. Japan’s Nikkei closed down 3 percent, while the Shanghai Composite index declined 2.0 percent. The Hang Seng in Hong Kong lost 2 percent. Wall Street is expected to open lower, with Dow and S&P futures each down 0.4 percent.
WASHINGTON (AP) – The nation’s business economists foresee a sharp slowdown in U.S. economic growth over the next two years, in sharp contrast to the Trump administration’s predictions that growth will accelerate this year and next. The finding comes from the latest survey by the National Association for Business Economics. Among the key factors in their dimmer assessment are a global slowdown and the ongoing trade conflicts between the Trump administration and several U.S. key trading partners.
LONDON (AP) – British Prime Minister Theresa May will be meeting with her Cabinet to map out a strategy for delivering Brexit as she fights to stay in power. Today’s session comes after a weekend of speculation that she may be forced to resign to win approval of her twice-rejected Brexit deal. Lawmakers are preparing to debate proposals for a series of votes on alternatives to May’s deal, which could take control of the process away from the government.
UNDATED (AP) – Apple is expected to launch a video service that could compete with Netflix, Amazon and cable TV itself. It’s a long-awaited attempt from the iPhone maker, several years after Netflix turned “binge watching” into a worldwide phenomenon. The new video service is expected to have original TV and movies that reportedly cost Apple more than $1 billion. Also expected is a news service. Apple is pushing digital subscriptions as it searches for new profit growth.
BERLIN (AP) – Germany’s air traffic control agency says a software issue that has caused disruption for several days won’t be resolved until at least midweek. The problem at a control center just outside Frankfurt emerged last Wednesday. It has forced officials to reduce capacity in the air by 25 percent in recent days over southwestern Germany and led to some flight cancellations at Frankfurt Airport, Germany’s busiest.