Financial News

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August 15, 2019
AP-NC Newswatch
August 16, 2019
Financial News





Update on the latest in business:


Asian shares mixed amid ongoing worries about US-China trade
TOKYO (AP) – Asian shares were mixed today as turbulence continues on global markets amid ongoing worries about U.S.-China trade conflict.
Japan’s benchmark Nikkei 225 recouped early losses to be up 0.3% in morning trading. Australia’s S&P/ASX 200 inched down nearly 0.1%, while South Korea’s Kospi fell 0.8%. Hong Kong’s Hang Seng added 0.8%. The Shanghai Composite gained 0.7%.
On Wall Street Thursday, stock indexes were flipping between gains and losses until a late-day bounce gave the market a modest gain. Worries about a possible recession collided with hopes that the strongest part of the U.S. economy – shoppers spending at stores and online – can keep going.
The S&P 500 rose 7 points, or 0.2%, to 2,847.60. The benchmark index swung between a 0.6% gain and 0.5% loss. A day earlier, it plunged 2.9%. The Dow Jones Industrial Average, coming off its worst day of the year, gained 99.97 points, or 0.4%, to 25,579.39. The Nasdaq composite dropped 7.32 points, or 0.1%, to 7,766.62, while the Russell 2000 index of smaller companies lost 5.87 points, or 0.4%, to 1,461.65.


Google employees call for pledge not to work with ICE
SAN FRANCISCO (AP) – Google employees are calling on the company to pledge it won’t work with the U.S. Customs and Border Protection or Immigration and Customs Enforcement agencies. It’s the latest pushback from the tech giant’s workforce.
A group of employees posted a petition publicly urging the company not to bid on a cloud computing contract for CBP. Google has not commented.
More than 700 Google employees had signed the petition by Tuesday afternoon. Citing a “system of abuse” and “malign neglect” by the agencies, the petition demands Google not provide any technical services to CBP, ICE or the Office of Refugee Resettlement until the agencies “stop engaging in human rights abuses.”
Google employees have led a growing trend in which some tech workers take public stands against their employers’ policies.


EPA reverses approval for poison traps used by ranchers
WASHINGTON (AP) – The Environmental Protection Agency has withdrawn preliminary approval for deadly sodium cyanide traps blamed for injuries to people and pets as well as targeted predators.
EPA head Andrew Wheeler says he’s rescinding his approval so more analysis and discussion of the M-44 traps could be done.
Farmers, ranchers and government wildlife trappers use the spring-loaded poison traps to kill coyotes and other livestock predators. Critics call them cyanide bombs and say they kill thousands of bears, waterfowl and other unintended victims annually.
An Idaho family sued the federal government after a trap injured a teenager and killed his Labrador retriever in 2017.
Thursday’s reversal comes a week after the EPA gave preliminary reauthorization for the traps. Environmental groups and others had objected to the traps.


Worried about a recession? Protect yourself but don’t panic
UNDATED (AP) – If the threat of a recession gives you pause when it comes to your personal finances, experts say now is a time to prepare, not panic.
Worries about the economy increased this week when a fairly reliable recession warning emerged from the bond market. But without a crystal ball, it remains unclear when a recession might hit.
Still, financial experts recommend simple steps that would be beneficial in any economy but would aid households greatly in a downturn. Those steps include paying off debt, building an emergency fund and possibly postponing major expenditures such as a car or a home remodeling project.
People who anticipate having a child, going on a sabbatical or returning to school also need to have money set aside.


AP sources: Trump has talked about buying Greenland for US
WASHINGTON (AP) – Aiming to put his mark on the world map, President Donald Trump has talked to aides and allies about buying Greenland for the U.S.
A Trump ally told The Associated Press on Thursday that the president had discussed the purchase but was not serious about it. And a Republican congressional aide says Trump brought up the notion of purchasing Greenland in conversations with lawmakers enough times to make them wonder, but they have not taken his comments seriously. Both spoke on condition of anonymity to discuss private conversations.
Still, it wouldn’t be the first time an American leader tried to buy the world’s largest island, an autonomous territory of Denmark.
In 1946, the U.S. proposed to pay Denmark $100 million to buy Greenland after flirting with the idea of swapping land in Alaska for strategic parts of the Arctic island.



AP-WF-08-16-19 0741GMT