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August 28, 2019
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August 29, 2019
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Asian stocks decline, Europe opens higher … Battle of Brexit intensifies … SKorean leader berates Japan

 

BEIJING (AP) – Asian stocks declined today while Europe opened higher following Wall Street’s rebound amid uncertainty about U.S.-Chinese trade tensions. Market benchmarks in London and Frankfurt advanced in early trading while Shanghai and Tokyo declined. Investors were looking for news about the outlook for U.S.-Chinese trade negotiations following confusion over President Donald Trump’s conflicting statements about the status of talks. Wall Street is expected to open higher, with S&P and Dow futures both up 0.6%.

 

LONDON (AP) – Critics of Britain’s prime minister are reacting with fury after he got Queen Elizabeth’s approval to suspend Parliament. The move by Boris Johnson means his political opponents have even less time to block a chaotic no-deal Brexit before the Oct. 31 withdrawal deadline. Hundreds of people packed College Green outside Parliament, waving EU flags and placards to express their anger, while 25 bishops from the Church of England released an open letter about their worries about the “economic shocks” of a no-deal Brexit on the poor and other vulnerable people.

 

SEOUL, South Korea (AP) – South Korean President Moon Jae-in (jah-YIHN’) has berated Japan for carrying out its plan to downgrade South Korea’s trade status and reiterated Seoul’s stance that Tokyo was weaponizing trade to retaliate over political rows stemming from wartime history. Moon said in a Cabinet meeting that Japan is being dishonest by insisting that its trade curbs weren’t retaliation over historical issues. The countries’ diplomats are expected to hold meetings in Seoul later today.

 

WASHINGTON (AP) – The Food and Drug Administration is trying to reassure U.S. patients about the low risks of an ongoing contamination issue affecting popular blood pressure drugs. Since last summer, drugmakers have issued more than 50 recalls due to a chemical impurity linked to cancer risk. The FDA says the risk is small because most patients probably absorbed very low levels of the chemical. The FDA said last year that if 8,000 patients took the maximum dose of the drugs for four years, the contamination issue could cause one extra case of cancer over their lifetimes.

 

SAN FRANCISCO (AP) – Tesla owners can now buy insurance policies from the electric car company in what may be an essential step toward it selling driverless vehicles. The company says it’s now selling policies in California and will go nationwide at an undisclosed date. CEO Elon Musk says Telsa plans to put fully self-driving vehicles on the road next year. But, traditional insurers may be reluctant to cover those robotic vehicles, leaving Tesla as the only option.

 

 

AP-WF-08-29-19 1042GMT