Global stocks rebound…New trade deal getting a boost from Trump, business groups…Uber buys Mideast operator
BEIJING (AP) – Global stock prices rebounded following a slide on worries about U.S. and European economic growth. In early trading, London’s FTSE 100 rose 0.1 percent and France’s CAC 40 added 0.1 percent. Germany’s DAX was unchanged. In Asia, Tokyo’s Nikkei 225 gained 2.2 percent, Hong Kong’s Hang Seng was 0.1 percent higher and the Shanghai Composite Index declined 1.5 percent. Wall Street is expected to open higher, with Dow and S&P futures each 0.4 percent higher.
WASHINGTON (AP) – The White House and business groups are stepping up efforts to win congressional approval for the U.S.-Mexico-Canada trade accord. But prospects are uncertain given that Republicans are at odds with some aspects of the plan and Democrats are in no hurry to secure a political victory for the president. President Donald Trump will meet with GOP lawmakers Tuesday to try to kick-start the process for rounding up votes on Capitol Hill.
NEW YORK (AP) – Apple is launching what some have called a “Netflix for news” – a $10-a-month subscription service that offers access to hundreds of magazines and a handful of newspapers. But most major U.S. news publishers aren’t participating. Readers get access to articles from more than 300 magazines, a smattering of digital sites and some newspapers. Human editors will select stories for the app, and Apple says it will protect peoples’ privacy.
TULSA, Okla. (AP) – Oklahoma Attorney General Mike Hunter says this afternoon he’ll announce a “breaking development” in the state’s lawsuit against the nation’s leading manufacturers of opioid pain medications. On Monday, the Oklahoma Supreme Court denied a request from drugmakers to postpone the start of what is expected to be the first state trial in lawsuits accusing the companies of fueling an opioid epidemic. Oklahoma sued 13 opioid manufacturers in 2017, alleging they fraudulently engaged in marketing campaigns that led to thousands of overdose addictions and deaths.
DUBAI, United Arab Emirates (AP) – Uber says it has acquired its Mideast competitor Careem for $3.1 billion, making it the largest-ever technology purchase in the region. Uber says the $3.1 billion consists of $1.7 billion in convertible notes and $1.4 billion in cash. The deal will make Careem a wholly-owned subsidiary of Uber, operating as an independent company under the Careem brand and led by its original founders.