Global shares fall…Europe still vulnerable…Worker protest
SINGAPORE (AP) – World markets eased Tuesday as investors took stock of tensions in the Eurozone and a standstill in U.S. trade negotiations with China, even as a new agreement with Canada was reached. Futures point to a lower Wall Street opening. Benchmark U.S. crude oil rose to just below $75.50 a barrel. The dollar weakened against the yen and gained against the euro.
LONDON (AP) – In a bleak assessment, credit ratings agency Moody’s warned Tuesday that Europe remains highly vulnerable to another economic downturn despite all its fire-fighting efforts over the past few years. The Moody’s report, published as Italian stocks and bonds were falling over the populist government’s spending plans, said Europe “is not ready to cope with another major slump stressing the financial system.” It noted five vulnerabilities, including higher debt levels, peaking assets prices and regulatory risks.
DETROIT (AP) – Michigan candidates for governor and the U.S. House are expected to join fast-food workers and others walking off the job in protest over the right to form unions. The protests are part of an effort to elect pro-union candidates in the November general election. Walkouts also are expected Wednesday in Milwaukee and Thursday in Chicago. Workers are seeking union rights for fast-food restaurants, airports, downtown businesses, hospitals, in-home care and child care.
BERLIN (AP) – The German government is backing plans Tuesday to help reduce pollution from diesel vehicles while easing the burden on consumers worried about costly upgrades. The issue is complicated politically in a country in love with its cars and where diesels are favored by commuters and small businesses for their generally better efficiency and lower fuel costs. At the same time the government doesn’t want to damage the country’s automobile industry – including manufacturers Volkswagen, Mercedes and BMW – by saddling it with too many upgrade costs.
PARIS (AP) – All-electric vehicles with zero local emissions are among the stars of the Paris auto show, rubbing shoulders with the fossil-fuel burning SUVs that many car buyers love. Volkswagen’s Audi and Daimler AG’s Mercedes-Benz both on Tuesday showed off battery-powered SUVs for affluent customers. Mercedes also had a new, bigger version of its conventionally powered GLE sport-utility, while BMW offers a new version of its X-5 SUV that has been a pillar of sales and earnings.