Stocks rise…Air travel up…UN warming report sees hungry future
NEW YORK (AP) – Stocks are broadly higher in morning trading on Wall Street after several days of volatile trading brought on by escalations in the U.S.-China trade war. Investors are snapping up technology stocks in a signal that they are more willing to take on some risk after several days of fleeing to safer holdings, such as bonds. Banks led financial stocks higher as bond yields gained ground following a sharp decline yesterday.
BERLIN (AP) – The International Air Transport Association says passenger traffic grew by a “solid” 5% in June compared with the same month last year, despite the impact of U.S.-China trade tensions. The airline industry group said Thursday that June also saw a record load factor, a gauge of the percentage of seats filled per flight, for the month of 84.4%. The lowest passenger growth was seen in North America, where carriers recorded increased demand of 3.5%.
WASHINGTON (AP) – A new United Nations scientific report says climate change is hitting us where it counts: the stomach – not to mention the forests, plants and animals. The report examines how global warming and land interact in a vicious cycle: Human-caused climate change is dramatically degrading the land, while the way people use the land is making global warming worse. The report says the combination is already making food more expensive, scarcer and even less nutritious.
NEW YORK (AP) – The retail titan behind Victoria’s Secret says financier Jeffrey Epstein misappropriated “vast sums” of his fortune while managing his personal finances. Ohio billionaire Leslie Wexner says in a letter that he recovered “some of the funds” but severed ties with Epstein in 2007 as sexual abuse allegations first surfaced against him in Florida. Wexner says he regrets ever crossing Epstein’s path and was “sickened” by Epstein’s alleged abuse of dozens of underage girls.
MIAMI (AP) – A California man has pleaded guilty in Florida to orchestrating a $1.3 billion fraud scheme that stole money from thousands of investors nationwide. Court records show 61-year-old Robert Shapiro pleaded guilty Wednesday in Miami to mail and wire fraud and tax evasion. He faces up to 25 years in prison at sentencing in October.