Financial News

Scott T.C. Neaves
May 29, 2019
AP-NC Newswatch
May 30, 2019
Financial News

 

 

 

 

Europe shares rise after drop in Asia …China dangles potentially harmful new threat in trade war…CA Assembly votes to cap rent increases

 

TOKYO (AP) – European shares were mostly higher in early trading today after a drop in Asia that followed another round of selling on Wall Street, set off by investor worries about a trade war. In early trading, France’s CAC 40 added 0.4%, while Germany’s DAX rose nearly 0.6%. Britain’s FTSE 100 edged up 0.2%. Japan’s Nikkei closed down 0.3%, Hong Kong’s Hang Seng was down 0.3% and South Korea’s Kospi edged up 0.8%. U.S. shares are set to drift higher with Dow futures up 0.3% and S&P 500 futures up 0.4%.

 

WASHINGTON (AP) – China has issued a pointed reminder that it has yet to unleash all its weapons in its trade war with the Trump administration. Chinese state media on Wednesday warned that Beijing could cut America off from exotic minerals that are widely used in electric cars and mobile phones. The threat to use China’s rich supply of so-called rare earths as leverage in the conflict has contributed to sharp losses in U.S. stocks and sliding long-term bond yields.

 

TOKYO (AP) – Malaysia’s prime minister is calling for talks to resolve ongoing trade dispute between Washington and Beijing and is urging the world to accept China’s technological prowess. He says the U.S. cannot be expected to always be at the top in technology, and countries need to talk to deal with a powerful China. Speaking at a conference in Tokyo, Prime Minister Mahathir Mohamad referred to the Chinese telecom giant Huawei and said nations with differing ideologies must be able to get along.

 

SACRAMENTO, Calif. (AP) – The California Assembly has voted to cap rent increases for many tenants as America’s most populous state faces a housing crunch. The bill, which now goes to the state Senate, would prohibit landlords from raising rent by more than 7% plus inflation over the course of a year. But as the proposal’s passage came down to last-minute political wrangling and persistent opposition from the California Association of Realtors, the bill’s backers agreed to a series of changes to win over critics.

 

SAN FRANCISCO (AP) – Facebook has chosen to leave up a doctored video of House Speaker Nancy Pelosi in which she appears to slur her words. That has outraged people who believe the social network should do more to clamp down on misinformation. But Facebook has long resisted making judgments about the truthfulness of posts, as doing so could open it up to charges of censorship or political bias. Some civil libertarians warn that pushing it in that direction could turn the company into an unaccountable censor.

 

 

AP-WF-05-30-19 1035GMT