World stocks lower … US, China hike tariffs … Sky shares up after Comcast wins bidding war
BANGKOK (AP) – Shares have fallen in Europe and Asia after China reportedly rebuffed a plan for talks with the U.S. on resolving their dispute over trade and technology. In early trading, Germany’s DAX fell 0.4 percent, the CAC 40 in France lost 0.3 percent and Britain’s FTSE 100 lost 0.2 percent. Wall Street is likely to open lower, with Dow and S&P down 0.2 percent.
BEIJING (AP) – The United States and China have imposed new tariff hikes on each other’s goods today. They gave no sign of compromise in an intensifying battle over technology policy that is weighing on global economic growth. The United States went ahead with a 10 percent tax on $200 billion of Chinese goods. And Beijing responded with 5 and 10 percent on $60 billion of American imports.
LONDON (AP) – Shares in Sky plc are up 8.8 percent after Comcast won a bidding war for the British pay TV giant in a weekend auction that pushed the value of the company to almost 30 billion pounds ($39 billion). The rare auction was organized by Britain’s Takeover Panel after months of offers and counteroffers from Comcast and 21st Century Fox. After three rounds of secret bidding, Comcast offered 17.28 pounds a share for Sky, beating Fox’s bid of 15.67 pounds.
FRANKFURT, Germany (AP) – Business confidence in Europe’s largest economy fell only slightly in September despite worries about trade disputes that could harm growth. The Ifo institute survey of the outlook among business executives in Germany eased to 103.7 points from 103.9 in August.
WASHINGTON (AP) – Congress is set to pass a crucial spending bill that averts a government shutdown, but there’s one potential obstacle: President Donald Trump. Neither party wants the government to close ahead of the midterm elections that will determine control of Congress, but Trump has made clear his frustration at the lack of money for his long-promised wall along the U.S.-Mexico border. There’s less than a week before the Sept. 30 deadline for a partial shutdown.