Global markets flat …Trumps sue banks … Mnuchin hopes for ‘substantial progress’ in China talks
BEIJING (AP) – Global stock markets were flat to lower today following Wall Street’s new high after Chinese factory activity was weaker than expected. Benchmarks in Paris, Hong Kong and Sydney declined while London and Frankfurt were little-changed. Shanghai advanced. Japanese markets were closed for a holiday. On Wall Street, futures for the S&P 500 index and the Dow Jones Industrial Average declined 0.1 percent.
WASHINGTON (AP) – President Donald Trump is suing Deutsche Bank and Capital One in an attempt to block congressional subpoenas for his business records. The lawsuit by Trump, his sons Donald Jr. and Eric and his daughter Ivanka, was filed Monday in federal court in Manhattan. Two House committees subpoenaed Deutsche Bank and several other financial institutions earlier this month as part of investigations into Trump’s finances. The Trumps want a federal judge to declare the subpoenas unlawful and enforceable.
BEIJING (AP) – Treasury Secretary Steven Mnuchin says he hopes for “substantial progress” in talks with Chinese officials aimed at ending a tariff war over Beijing’s technology ambitions. Mnuchin arrived today in Beijing for the latest negotiations on the trade fight between the two biggest global economies, which has rattled financial markets. Mnuchin noted most talks are scheduled next week in Washington and said: “We hope to make substantial progress in these two meetings.”
CHICAGO (AP) – The CEO of Boeing has defended the company’s safety record and declined to take any more than partial blame for two deadly crashes of its best-selling plane even while saying Monday that the company has nearly finished an update that “will make the airplane even safer.” Chairman and CEO Dennis Muilenburg took reporters’ questions for the first time since accidents involving the Boeing 737 Max in Indonesia and Ethiopia killed 346 people and plunged Boeing into its deepest crisis in years.
NEW YORK (AP) – Gov. Andrew Cuomo has signed into law a new ban on drilling for oil and gas off the New York coast. The Democrat was joined by musician Billy Joel for a bill signing Monday on Long Island. Members of the Democrat-led state Legislature passed the ban earlier this year following the Trump administration’s proposal to open up more coastal areas to drilling.