Global markets mixed … US-China trade tensions heighten … Google to showcase much-anticipated updates
BEIJING (AP) – Global stock markets were mixed today after Beijing said its economy czar will go to Washington for trade talks despite President Donald Trump’s threat to escalate their tariff war. Benchmarks in London and Tokyo declined, while Shanghai, Hong Kong and Sydney rose. Wall Street is expected to open lower today, with Dow and S&P futures each down 0.3%.
WASHINGTON (AP) – U.S. Trade Representative Robert Lighthizer (LYT’-hy-zur) says the higher tariffs on China that President Donald Trump threatened over the weekend will take effect at 12:01 a.m. Eastern time Friday. Lighthizer adds that trade negotiations with the Chinese will resume on Thursday in Washington. In a briefing with reporters, Lighthizer accused Beijing of “reneging on prior commitments” after 10 rounds of high-stakes negotiations over China’s aggressive drive to supplant American technological dominance.
SAN FRANCISCO (AP) – Google’s CEO is expected to showcase much-anticipated updates to the company’s hardware lines and artificial intelligence today during his keynote speech at the company’s annual I/O conference for software developers. Google will also likely address privacy updates as concerns about data sharing continue to plague the tech industry. Rumors suggest that Google may unveil a mid-range Pixel phone as a cheaper option to the flagship model currently on sale for $800.
NEW YORK (AP) – An Amazon Go store opening in New York City today will be the first such store to accept cash. Amazon launched its high-tech Go convenience store a year ago, where shoppers enter the store with an app that links to a credit card or an Amazon account, pull items off the shelf and walk out. But the company faced backlash from critics who said cashless stores discriminate against the poor. The new store gives the customer the option of paying with cash, credit card or Amazon account.
ADDIS ABABA, Ethiopia (AP) – A new report says Ethiopian garment factory workers are now, on average, the lowest paid in any major garment-producing company worldwide. Authors of the report by the New York University Stern Center for Business and Human Rights say the average monthly pay of an Ethiopian garment worker is the equivalent of $26 a month. Ethiopia is one of Africa’s fastest-growing economies, and it’s been inviting the global garment industry to set up shop in its mushrooming industrial parks.