World shares surge … Mexican president calls for continued friendship with US … Sephora employees to get diversity training
BANGKOK (AP) – World shares surged today after the Federal Reserve signaled it was ready to cut interest rates to support the U.S. economy against risks from trade conflicts. But Asian markets gave back some early gains after the World Bank said it was downgrading its forecast for the global economy in light of those trade disputes and other strains. Wall Street looks to extend gains, with Dow futures up 0.3% and the S&P 500 is up 0.4%.
MEXICO CITY (AP) – Mexican President Andres Manuel Lopez Obrador is calling for continued friendship with the United States, as his country faces possible crippling tariffs of 5% to 25%, threatened by President Donald Trump. Trump has given Mexico a Monday deadline to slow irregular migration through its territory. The Mexican government hasn’t proposed any new policies, and instead seems to opt for a strategy of convincing Washington that it’s already doing its part on migration.
PARIS (AP) -Renault says an internal audit with partner Nissan found 11 million euros in questionable expenses at their Dutch-based holding allegedly linked to ousted chief Carlos Ghosn (gohn). In a statement Tuesday night, the French carmaker recommended joint Renault-Nissan legal action in the Netherlands, where the alliance is based. It suggested ordering Ghosn himself to reimburse the company for some of the expenses.
LONDON (AP) – The lobby group for Britain’s automotive industry says the country’s new car market slid back further in May as consumer and business confidence continued to be affected by what it terms “underlying economic and political instability.” The Society of Motor Manufacturers and Traders says car sales fell by 4.6% during the month to 183,724 units.
Sephora’s U.S. stores will be closed for an hour this morning to so that it’s 16,000 employees can attend “inclusion workshops.” A little more than a month ago, R&B star SZA (SIH’-zah) said she had security called on her while shopping at a California store. The incident undermined the beauty retailer’s campaign to cast itself as a champion of diversity.