Financial News

Larry Don Clarke
September 11, 2019
AP-NC Newswatch
September 11, 2019
Financial News

 

 

 

 

Stocks broadly higher…Trump weighs in on vaping…Scottish court deals blow to Johnson’s Brexit plans

 

 

 

NEW YORK (AP) _ Stocks marched broadly higher on Wall Street as investors snapped up technology companies following China’s decision to exempt some products from a recent round of tariffs. The tech sector, which has much to gain or lose in the trade war, moved broadly higher. Apple rose a day after announcing a new lineup of iPhones and a low-priced video streaming service to compete with Netflix. GameStop plunged after reporting a loss that was wider than analysts were expecting.

 

WASHINGTON (AP) _ President Donald Trump says his administration will propose banning thousands of flavors used in e-cigarettes amid an outbreak of breathing problems tied to vaping. State and federal health authorities are investigating hundreds of breathing illnesses reported in people who have used e-cigarettes and other vaping devices. Health and Human Services Secretary Alex Azar says the government will develop guidelines to remove all e-cigarette flavors from the market, especially those favored by kids.

 

LONDON (AP) _ A Scottish court has dealt another blow to Prime Minister Boris Johnson’s Brexit plans. In a surprise judgment, Scotland’s highest civil court ruled that the prime minister’s decision to suspend Parliament less than two months before the U.K. is due to leave the European Union was an unlawful attempt to avoid democratic scrutiny. The government immediately said it would appeal, and the political opposition is demanding Johnson reverse the suspension and recall lawmakers to Parliament.

 

FRANKFURT, Germany (AP) _ The European Central Bank appears to be preparing a new shot of stimulus to try to energize the economy. But the move is sure to renew a nagging question: Can central banks do much good when rates are already ultra-low? Analysts say the bank is likely to cut a key interest rate further below zero tomorrow and could take other steps, including restarting a bond-buying program to pump newly created money into the economy making money cheaper to borrow.

 

OKLAHOMA CITY (AP) _ T. Boone Pickens, who amassed a fortune as an oil tycoon and corporate raider and gave much of it away as a philanthropist, has died. He was 91. Pickens made his first millions in oil, burnishing an image as a maverick, unafraid to take on giants in the oil patch. Starting in the 1980s, he became known for launching hostile corporate takeover bids that often resulted in a huge payoff. His fortune soared into the billions.