Global markets mixed … China official says talks impossible with ‘US holding knife’… Instagram co-founders to resign
BEIJING (AP) – Global stock markets were mixed today after a Chinese envoy said Beijing cannot negotiate its trade dispute with the United States while Washington “holds a knife” of tariff hikes to its neck. In early trading, France’s CAC 40 gained 0.2 percent while London’s FTSE 100 shed 2 points. Germany’s DAX added 6 points. In Asia, the Shanghai Composite Index closed down 0.6 percent while Tokyo’s Nikkei 225 gained 0.3 percent. On Wall Street, S&P and Dow futures are little changed.
BEIJING (AP) – A Chinese trade envoy says talks with Washington are impossible while the United States “holds a knife” to Beijing’s neck by imposing tariff hikes. The warning follows Beijing’s release of a report accusing U.S. President Donald Trump of bullying other countries and damaging the global economy. That dampened hopes of progress toward settling their conflict over Beijing’s technology policy.
UNITED NATIONS (AP) – Five world powers and Iran have agreed to establish a financial facility in the European Union to facilitate payments for Iranian imports and exports including oil. It’s a key move sought by Tehran following the U.S. pullout from the 2015 nuclear deal. Foreign ministers from Britain, France, Germany, Russia, China and Iran say in a joint statement that the so-called “Special Purpose Vehicle” will “assist and reassure economic operators pursuing legitimate business with Iran.”
WASHINGTON (AP) – The Trump administration says it has approved the sale to Taiwan of $330 million in spare parts and related support for Taiwan’s F-16 fighters and other military aircraft. A Pentagon statement says the sale will improve Taiwan’s ability to defend itself without altering the basic military balance in Asia. China opposes all U.S. military sales to Taiwan.
SAN FRANCISCO (AP) – The co-founders of Instagram are resigning their positions with the social media company. Chief Executive Kevin Systrom says he and Mike Krieger (KREE’-gur) plan to leave the company in the next few weeks. There’s been no word on why they’ve chosen to leave the company but Systrom says they plan to take time off to explore their creativity again.