World shares mostly higher … China imports from US plunge 31% in June … Japan crypto exchange loses $32 million of virtual mon
BANGKOK (AP) – World shares were mostly higher today after Wall Street ended overnight with the Dow Jones Industrial Average closing above 27,000 for the first time. Germany’s DAX edged 5.68 points higher while the CAC 40 in France surged 0.6%. Britain’s FTSE climbed 0.3%. In Asia, Japan’s Nikkei closed up 0.2% and the Hang Seng in Hong Kong added 0.1%. The Shanghai Composite index climbed 0.4. South Korea’s Kospi climbed 0.3%. U.S. markets looked set for future gains, with Dow and S&P futures each up 0.3%.
BEIJING (AP) – China’s imports from the United States plunged 31.4% in June from a year earlier amid tariff war with Washington. Exports to the U.S. market sank 7.8%. The decline follows rounds of tariff hikes by both governments in a fight over Beijing’s technology ambitions. China’s global exports sank 1.3% while imports fell 7.3%.
SHENZHEN, China (AP) – The chairman of Huawei (WAH’-way) says the Chinese tech giant has yet to see any benefit from President Donald Trump’s promise to allow U.S. companies to sell some components to the company, and he’s calling on Washington to remove Huawei from a security blacklist. Liang Hua says the ‘unjust and unfair’ decision to add Huawei to a list that restricts exports is hurting U.S. suppliers and global customers. Huawei is the biggest maker of network equipment used by phone companies.
TOKYO (AP) – A Japanese cryptocurrency exchange is reporting a hack causing the loss of 3.5 billion yen, or $32 million, worth of virtual money. Tokyo-based Remixpoint, which runs the BITPoint exchange as well as travel, used car and energy businesses, apologized today, acknowledging the losses were confirmed starting Thursday. The losses, which include bitcoins as well as Ethereum, Ripple and other kinds of cryptocurrencies, are under investigation.
NEW YORK (AP) – Ford and Volkswagen are planning this morning to unveil details about their budding alliance to build mobility services and autonomous and electric vehicles.
The two companies announced plans in January to collaborate on developing commercial vans and medium-sized pickup trucks while exploring electric and autonomous vehicles together. They said Ford would develop larger vans and pickups while Volkswagen would develop a smaller van for crowded cities.