Shares waver…US, China trade teams in contact…German business confidence dips
BANGKOK (AP) – Shares wobbled Monday as investors watched for movement in the China-U.S. trade dispute ahead of a meeting between Presidents Donald Trump and Xi Jinping planned for later this week in Osaka, Japan, at the Group of 20 summit. Futures point to opening gains on Wall Street. Benchmark U.S. crude oil rose to just under $57 per barrel. The dollar rose against the yen and fell against the euro.
BEIJING (AP) – A Chinese official says Chinese and U.S. trade negotiators are in contact on ways of resolving disputes ahead of an expected meeting between their heads of state at the G-20 summit in Japan later this week. This weekend’s G-20 meeting in Osaka is the first opportunity presidents Donald Trump and Xi Jinping have had to thrash out the trade dispute face-to-face since Trump said he was preparing to target the $300 billion in Chinese imports that he hasn’t already hit with tariffs, extending them to everything China ships to the United States.
BERLIN (AP) – A closely watched survey is showing that German business confidence has fallen to a near five-year low as managers’ expectations for the coming six months have deteriorated. The Ifo institute said Monday that its monthly confidence index slipped to 97.4 points in June from 97.9 last month, in line with market expectations. The third straight monthly fall takes the index to its lowest since November 2014.
LONDON (AP) – A senior Facebook executive says the social media site is in favor of regulation to address some of the dark problems of the internet. Nick Clegg, the former leader of the U.K. Liberal Democrat party who now heads global affairs for Facebook, says it is not “for private companies” to decide how to balance free speech versus public harm. Lawmakers have been pushing tech companies to take down offensive content more quickly and to do more in general to halt internet harm.
NEW YORK (AP) – Craving a Slurpee from 7-Eleven but you’re stuck in the park? Not to worry: The convenience-store chain is launching a service that lets customers order everything from its trademark frozen drink to a battery charger and have it delivered to a public place like a park or a beach. The retailer told The Associated Press that more than 2,000 7-Eleven “hot spots” will be working starting Monday. Customers need to download 7-Eleven’s 7NOW app and select “Show 7NOW Pins” to find a hot spot near them.