Financial News

James Ronnie Severt
June 10, 2019
AP-NC Newswatch
June 11, 2019
Financial News

 

 

 

 

World shares up today … House panel begins review of big tech’s power … China telecom giant Huawei hints US pressure hurting sales

 

TOKYO (AP) – Global shares rose today as investor jitters over trade eased after President Donald Trump suspended plans to impose tariffs on Mexican imports and said he expects to meet with his Chinese counterpart during a summit in Japan later this month. In early trading, France’s CAC 40 gained 0.5%, while Germany’s DAX added 1.1%. Britain’s FTSE 100 was up 0.5%. Wall Street is expected to open higher, with Dow futures up 0.3% and S&P 500 futures up 0.4%.

 

WASHINGTON (AP) – Big Tech is about to become big politics in Washington. Today, the House Judiciary Committee will launch its investigation into the market dominance of Silicon Valley’s biggest names, starting with a look at the impact of the tech giants’ platforms on news content, the media and the spread of misinformation. In a Capitol steeped in partisanship, the House Judiciary Committee’s probe of tech market power stands out. Not only is it bipartisan, but it’s also the first such review by Congress.

 

SHANGHAI (AP) – Chinese telecom gear giant Huawei (WAH’-way) is hinting that pressure from the Trump administration is slowing its global expansion. Huawei Technologies’ chief strategist, Shao Yang, says that “unexpected circumstances” mean the company has to wait a bit longer to achieve status as the No. 1 seller of smartphones. The U.S. has urged other governments to shut Huawei out of next-generation “5G” networks on the grounds its involvement is a security risk.

 

PORTLAND, Ore. – An Associated Press data analysis has found that when states legalize pot for all adults, existing medical marijuana programs take a big hit. In Oregon, the number of medical cardholders dropped nearly two-thirds. Alaska’s registry decreased by 63%, followed by Nevada with nearly 40% and Colorado with about 20%. Much of the decline comes from consumers who, ill or not, got medical cards because it was the only way to buy pot legally, then discarded them when broader legalization arrived.

 

LIMA, Peru (AP) – A new study says multinational companies pushed expensive baby formula to a low-income community near Peru’s capital despite the country’s ban against aggressive marketing of such products. The report issued Monday by researchers at the Johns Hopkins Bloomberg School of Public Health found that women in the community where the promotions took place were 10 times more likely to stop exclusive bread feeding at their doctors’ advice.

 

 

AP-WF-06-11-19 1041GMT