Global shares mostly lower … US and China wrap up today’s trade talks … Health chief says Trump working on prescription import plan
TOKYO (AP) – Global shares were mostly lower today as investors looked cautiously ahead to a key policy update from the U.S. Federal Reserve later in the day. In early trading, France’s CAC 40 was little changed, Germany’s DAX edged up 0.1%, while Britain’s FTSE 100 slipped 0.3%. In Asia, Japan’s Nikkei fell 0.9%, South Korea’s Kospi dropped 0.7%, Hong Kong’s Hang Seng fell 1.3% and the Shanghai Composite shed 0.7%. Wall Street is expected to open high with Dow futures up 0.2% and S&P futures up nearly 0.2%.
SHANGHAI (AP) – U.S. and Chinese envoys met today for talks aimed at ending a tariff war after President Donald Trump rattled financial markets by accusing Beijing of trying to stall in hopes he will fail to win re-election in 2020. The meeting ended about 40 minutes ahead of schedule and neither delegation spoke to reporters. Economists had said quick breakthroughs were unlikely because the two governments face the same disagreements over China’s technology policy and trade surplus that caused talks to break down in May.
WASHINGTON (AP) – Allowing Americans to import drugs safely and effectively from Canada is the goal of a plan being devised by President Donald Trump and the head of the Department of Health and Human Services. Prescription medications can be purchased in Canada at lower rates than in the U.S. HHS Secretary Alex Azar tells CNBC that he and the president were discussing the plan Tuesday. Trump has made lowering prescription drug prices one of his top priorities as he seeks reelection.
FRANKFURT, Germany (AP) – Official figures show inflation and growth have sagged in the eurozone, adding to the case for the European Central Bank to add another blast of monetary stimulus at its September meeting. The European Union statistics agency says growth halved in the second quarter, to 0.2%. Inflation in July fell to an annual 1.1% from 1.3% in June. The inflation figure is well below the ECB’s goal of just under 2% considered best for the economy.
NORFOLK, Va. (AP) – A video rental store that’s believed to be among one of the last of its size on the East Coast is set to close in Virginia. The Virginian-Pilot reports that the Naro Expanded Video Archival Library in Norfolk will close by the end of August. The store has more than 42,000 video titles and outlasted a vast number of video rental businesses that have already closed across the country. But like them, it fell victim to streaming services like Netflix and Amazon Prime.