Financial News

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August 27, 2019
AP-NC Newswatch
August 28, 2019
Financial News





Global stocks mixed…British PM wants to shut down Parliament…Toyota, Suzuki partner on self-driving


BEIJING (AP) – Global stocks are mixed today as uneasy investors watch for signs of progress on ending the U.S.-China tariff war following President Donald Trump’s conflicting comments on the status of negotiations. Benchmarks in London and Tokyo advanced while those in Frankfurt and Shanghai declined. Wall Street is expected to open higher today, with S&P futures up 0.2% and Dow futures up 0.1%.


LONDON (AP) – British Prime Minister Boris Johnson will temporarily shut down Parliament in mid-October, squeezing the time for the opposition to thwart a no-deal Brexit. U.K. House of Commons Speaker John Bercow has responded with outrage, saying that it “represents a constitutional outrage.” Liberal Democrat leader Jo Swinson says Johnson is embarking on a “dangerous and unacceptable course of action”.


TOKYO (AP) – Japan’s top automaker, Toyota, and smaller rival Suzuki are partnering in the development of self-driving car technology, as manufacturers around the world grapple with innovations in the industry. Under the deal, Toyota will take a 4.9% stake in Suzuki Motor Corp. valued at 96 billion yen ($908 million), and Suzuki will make a 48 billion yen ($454 million) investment in Toyota.


COLUMBUS, Ohio (AP) – Purdue Pharma, the maker of the prescription painkiller OxyContin, says it’s “actively working” with state attorneys general and other plaintiffs in reaching a “construction global resolution.” Purdue has been cast by attorneys and addiction experts as a main villain in the opioid crisis for producing a blockbuster drug while understating its addiction risk. A report by NBC News said Purdue Pharma has offered to settle for $10 billion to $12 billion.


NEW YORK (AP) -Deutsche Bank says that does have tax records that Congress wants President Donald Trump to hand over. A federal appeals court ordered Deutsche Bank to say whether or not Trump’s tax returns were in its possession after an attorney for the bank refused to answer that question during a hearing last week. Deutsche Bank said in court papers it has tax returns responsive to a subpoena sent this year, in which Congress asked the bank for a host of documents related to Trump and his family.



AP-WF-08-28-19 1038GMT