Financial News

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July 1, 2019
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July 2, 2019
Financial News





Global markets mixed … OPEC confident non-members will back oil cut extension … Japan defends export restrictions to SKorea


BEIJING (AP) – Global stock markets were mixed today after Wall Street’s benchmark hit a new high following the latest truce in the costly U.S.-Chinese trade war. London and Tokyo rose, while Germany declined and Shanghai was unchanged. Hong Kong advanced despite protests over a proposed extradition law that led to police using tear gas to clear streets. But a lower start is expected on Wall Street today, with Dow futures off 0.2% and S&P futures down 0.1%.


VIENNA (AP) – OPEC members sat down today with other major oil producing nations to finalize a plan to cut production for another nine months in a bid to shore up prices at a time of waning demand. Members of the Organization of the Petroleum Exporting Countries agreed on Monday to the extension of the cut and key non-OPEC member Russia has urged others to agree as well.


TOKYO (AP) – Japan is defending a decision to slap restrictions on exports of certain high-tech materials to South Korea, citing national security concerns. Chief Cabinet Secretary Yoshihide Suga says the rules are needed under international standards for keeping tabs on sensitive technology that can be used for military purposes. He denies that the step violates free trade rules. Earlier, officials cited a lack of trust between Tokyo and Seoul as the reason for the limits.


TOKYO (AP) – Japan’s trade minister says the kimono belongs to Japan – not to Kim Kardashian West’s shapeware brand. West announced the line, Kimono Solutionwear, last week. But some Japanese critics on social media said the name, which the reality TV star, makeup mogul and budding lawyer trademarked, is an inappropriate take on centuries-old kimono clothing. On Monday, West tweeted that she’ll launch her brand under a new name following careful thought and consideration.


MOUNT HOLLY, N.C. (AP) – North Carolina man has filed a handwritten lawsuit against a fast food chain, saying he was discriminated against because he had too few hash browns with his breakfast order. The Gaston Gazette reports that Tommy Martin of Mount Holly filed his lawsuit last Monday in U.S. District Court in Charlotte. Martin claims that because he is black, he got fewer hash browns than is typically served with Hardee’s breakfast platter.



AP-WF-07-02-19 1041GMT