Mixed stocks…China wants to meet halfway…Boeing still working on 737 fix
BEIJING (AP) – European stocks opened higher Friday while Asian markets sank as investors waited for a meeting between Presidents Donald Trump and Xi Jinping that they hope will produce a truce in spiraling U.S.-China trade tension. Futures point to opening gains on Wall Street. Benchmark U.S. crude fell but remained above $59 per barrel. The dollar declined against the yen and the euro.
OSAKA, Japan (AP) – China’s foreign ministry has expressed hope Washington can “meet China halfway” as President Xi Jinping prepares to meet President Donald Trump amid a costly tariff fight over trade and technology. Investors are hoping for a repeat of Trump and Xi’s December agreement to postpone new tariff hikes and other action while they tried to negotiate a settlement. But analysts caution any truce at this Group of 20 meeting of major economies is likely to be temporary because of the array of disputes that separate the two sides.
UNDATED (AP) – Boeing says it expects to finish work on updated flight-control software for the 737 Max in September, a sign that the troubled jet likely won’t be flying until late this year. The latest delay in fixing the Max came a day after the disclosure that government test pilots found a new technology flaw in the plane during a test on a flight simulator. The plane has been grounded since mid-March after two crashes that killed 346 people.
FRANKFURT, Germany (AP) – Consumer price inflation across the 19 countries that use the euro remained stuck at an annual 1.2% in June, well below their central bank’s goal despite years of stimulus policies. The official figure released Friday by the EU statistics agency matched the May reading and came in short of the European Central Bank’s target of just under 2% considered best for the economy.
COPENHAGEN, Denmark (AP) – A group of investors that includes the owners of toy maker Lego is buying Merlin Entertainment, a British company that operates theme parks like Legoland. Lego owner Kirkbi Invest joined forces with private equity firm Blackstone and the Canada Pension Plan Investment Board to offer 455 pence (60 cents) per share for Merlin, valuing it at 4.77 billion pounds ($6 billion).