Global shares mixed … US, China to talk trade in early October … Galaxy Fold to go on sale Friday
TOKYO (AP) – Global shares were mostly higher today. In early trading, France’s CAC 40 rose 0.7%, while Germany’s DAX also gained 0.7%. Britain’s FTSE 100 inched down 0.3%. In Asia, Japan’s benchmark Nikkei 225 closed 2.1% higher. South Korea’s Kospi gained 0.8% and Hong Kong’s Hang Seng erased earlier gains and was down 0.3%, while the Shanghai Composite rose 1.0%. Wall Street is expected to open higher with Dow futures up 0.7% and S&P futures up 0.6%.
BEIJING (AP) – U.S. and Chinese envoys will meet in early October for more talks aimed at ending a tariff war that threatens global economic growth. Stock markets rose on today’s announcement but there has been no sign of progress since Presidents Donald Trump and Xi Jinping agreed in June to resume deadlocked negotiations about trade and technology. The two governments escalated their fight over trade and technology with new tariff hikes on each other’s goods last weekend.
WASHINGTON (AP) – The Trump administration is scrapping some rules to make light bulbs more energy efficient, calling it too costly for consumers. President Donald Trump told reporters Wednesday that the expected savings from the more efficient bulbs “is not worth it.” The Energy Department’s move is a reversal in a years-long push to switch Americans to bulbs that use less electricity.
LONDON (AP) – Samsung says it will start selling its highly anticipated folding phone on Friday, after the original launch date was delayed by months because of embarrassing problems with the screen. The South Korean tech giant says the Galaxy Fold is going on sale after it spent the past several months “refining” the device to improve its “design and construction.” The nearly $2,000 phone will launch on Sept. 6 in South Korea, followed later in the month by other key markets including the U.S., France and Singapore.
UNDATED (AP) – Drugmaker Mallinckrodt has agreed to pay $15 million to settle claims that it lavished doctors with dinners and entertainment to encourage them to keep prescribing a drug as it raised prices from $50 to $32,000. The settlement does not resolve claims that the company also used a charity to pay Medicare patients’ copayments as prices rose. The government says the company raised the price of a roughly 5-dose vial of Acthar, used to treat conditions related to multiple sclerosis, lupus and other diseases.