Global shares mixed …Trump EPA close to gutting Obama rule on coal power plants … Lawmakers to hear from pilots critical of Boeing
TOKYO (AP) – Global shares were mixed today amid optimism about trade after President Donald Trump said he will talk with the Chinese leader later this month in Japan. In early trading, France’s CAC 40 was little changed, Germany’s DAX edged down 0.1%, Britain’s FTSE 100 fell 0.2%. In Asia, Japan’s Nikkei closed up 1.7%, South Korea’s Kospi was up 1.2%. Hong Kong’s Hang Seng gained 2.4%, while the Shanghai Composite added nearly 1.0%. U.S. shares are set to drift higher with Dow futures marginally higher and S&P 500 futures up less than 0.1%.
WASHINGTON (AP) – Lawmakers, environmentalists and others say they expect an announcement soon on a replacement for an Obama-era regulation that sought to limit coal-fired plants in the nation’s electrical grid. Environmental Protection Agency chief Andrew Wheeler plans a major announcement today, but officials aren’t disclosing the topic. The so-called Clean Power Plan was one of President Barack Obama’s signature efforts to curb climate-changing emissions. But critics of say the Obama administration overstepped its legal authority.
UNDATED (AP) – The president of the pilots’ union at American Airlines says Boeing made mistakes in its design of the 737 Max and not telling pilots about new flight-control software on the plane. Daniel Carey says it won’t be easy to restore trust in aviation safety. He is scheduled to testify about the matter today at a congressional hearing. Chesley “Sully” Sullenberger, the captain who safely landed a disabled jetliner on the Hudson River in 2009, is also expected to testify.
WASHINGTON (AP) – The Federal Reserve seems poised to pivot from keeping interest rates steady to holding out the option of cutting rates if it were to decide that the economic expansion needs support. The Fed isn’t considered ready to announce that it’s reducing rates for the first time in more than a decade. But when it ends its latest policy meeting today, the central bank is expected to signal an inclination to ease credit sometime within the next several months. What it won’t likely do is indicate when that might happen.
LUXEMBOURG (AP) – A European union high court has ruled against German sports apparel giant Adidas’ claim that its famous three stripes, applied in any direction, deserve trade mark protection. The EU’s General Court ruled today that the company could not prove that the stripes had a distinctive enough character throughout the 28-nation bloc. Adidas says it is disappointed in the ruling and considering its next options.