Markets dip …China says trade talks progress…More time for Brexit
SINGAPORE (AP) – World markets were mostly lower on Thursday after Britain secured a new deadline for its exit from the European Union. It now has until Oct. 31 to leave the bloc, but worries that lawmakers won’t agree on a deal by then weighed on trading. Futures point to a flat opening ion Wall Street. Benchmark U.S. crude oil fell below $64.50 per barrel. The dollar strengthened against the yen and declined against the euro.
BEIJING (AP) – China says trade talks with the U.S. are “moving forward” after nine rounds of consultations aimed at ending a standoff that has shaken the world economic outlook. Foreign Ministry spokesman Lu Kang on Thursday said the latest discussions had achieved “new substantial progress.” The three days of talks in Washington last week dealt with issues including technology transfer, intellectual property rights protection, non-tariff measures, agriculture and enforcement of agreements.
LONDON (AP) – A clearly frustrated European Union has given Britain a few more months to find a way out of its Brexit quagmire. Now it’s up to Britain’s squabbling politicians to work out if they can meet the new Halloween deadline. Prime Minister Theresa May is expected to brief Parliament Thursday on the results of the emergency EU summit that ended in the early hours with the bloc agreeing an extension to the country’s departure until Oct. 31. However, her path toward actually taking Britain out of the EU remains unclear.
MOSCOW (AP) – The lower house of the Russian parliament has passed a second reading of a bill that would expand government authority over the internet but whose opponents fear heralds widespread censorship. The bill, which passed 322-15, would install equipment to route Russian internet traffic through servers in the country. That would increase the powers of state agencies and make it harder for users to circumvent any government restrictions.
BERLIN (AP) – German prosecutors have searched over a dozen offices and homes across the country as part of their investigation into a massive tax fraud going back more than a decade. The scheme involved so-called cum-ex transactions in which participants would lend each other shares so they could collect reimbursement for taxes they hadn’t paid, costing taxpayers across Europe billions of euros. German authorities say some of the schemes involve bank employees.