Global shares mostly higher … Trump touts economy … Airlines to expect record crowds for Labor Day
TOKYO (AP) – Global shares are mostly higher today after Wall Street rallied on the U.S. decision to give Chinese telecom giant Huawei another 90 days to buy equipment from American suppliers. In early trading, France’s CAC 40 added nearly 0.2%, while Germany’s DAX inched up nearly 0.1%. Britain’s FTSE 100 rose 0.2%. Japan’s Nikkei closed 0.6% higher. South Korea’s Kospi rose 1.1%, while Hong Kong’s Hang Seng lost 0.2%. The Shanghai Composite was down 0.1%. Wall Street is expected to open higher, with Dow and S&P futures each up 0.1%.
WASHINGTON (AP) – The White House is insisting the “fundamentals” of the U.S. economy are strong, invoking an ill-fated political declaration of a decade ago amid mounting concern that a recession could imperil President Donald Trump’s re-election. Indeed, the U.S. is setting records for low unemployment, and the economy has continued uninterrupted growth since Trump took office. But growth is slowing and stock markets have swung wildly in recent weeks on recession fears.
WASHINGTON (AP) – Airlines expect record crowds over the week-long Labor Day period. The trade group Airlines for America predits that 17.5 million passengers will fly on U.S. carriers between Aug. 28 and Sept. 3. That’s 2.5 million passengers a day and a 4% increase over the same week last year. The busiest day is expected on Friday, Aug. 30, when the group forecasts just under 3 million people will board a U.S. airline.
LOS ANGELES (AP) – The Writers Guild of America has filed claims in federal court alleging the entertainment industry’s biggest talent agencies are violating antitrust and anti-racketeering laws. The claims filed Monday represent the latest move in a heated battle between the writers of television scripts and the agents who represent them. The writers say agencies are violating antitrust law with the use of so-called packaging fees.
FRANKFURT, Germany (AP) – Indiana-based Elanco Animal Health says it has agreed to buy the veterinary medicines business of Germany’s Bayer AG for $7.6 billion in cash and stock. Elanco says the deal would mean an expanded portfolio of treatments as well as more efficiencies and increased profit margins. The sale is part of Bayer’s plan to divest several of its businesses including its Dr. Scholl’s foot care products brand and Coppertone sunscreen.