Stocks sharply higher…US, China trade talks next week…Boeing sells the 737 Max again
NEW YORK (AP) – Stock prices are sharply higher in afternoon trading on Wall Street following news that the leaders of the U.S. and China will meet face-to-face next week to discuss their long-running trade dispute. Technology and industrial companies, which would benefit the most from easing trade tensions, rose more than the rest of the market.
WASHINGTON (AP) – President Donald Trump says he’ll hold trade talks with Chinese President Xi Jinping (shee jihn-peeng) next week at a summit of nations in Japan. In an escalating trade dispute with Beijing, Trump has already imposed 25% tariffs on $250 billion in Chinese imports. The goal is to pressure Beijing to stop stealing American technology, forcing U.S. businesses to hand over trade secrets and unfairly subsidizing Chinese tech companies.
LE BOURGET, France (AP) – Boeing is selling its 737 Max planes again. The company announced at the Paris Air Show today that International Airlines Group signed a letter of intent for 200 Boeing 737 aircraft. The letter of intent is subject to final agreement but is a vote of confidence for Boeing as it struggles to win back trust. The planes would be delivered between the year 2023 and 2027 to airlines owned by IAG, the parent company of British Airways.
NEW YORK (AP) – Charitable giving by individual Americans last year suffered its biggest drop since the Great Recession of 2008-2009, in part because of Republican-backed changes in tax policy. That, according to Giving USA, which tracks Americans’ giving patterns. The new report says individual giving fell by 1.1% from 2017 to last year, ending a four-year streak of increases. It was the largest decline since a 6.1% drop back in 2009.
BOSTON (AP) – A consumer advocacy group is reminding parents of the dangers of classic summertime toys like baby pools, high-powered water guns and inflatable pool rings. The annual list of top 10 “summer safety traps” includes water balloon slingshots, on-ground water slides such as the Slip ‘N Slide, and projectile-firing toy guns. The World Against Toys Causing Harm report says July and August account for more preventable, accidental deaths than any other two-month period of the year.