World shares mostly lower … Problems for some Thomas Cook travelers … Trump standoff with China could affect USPS rates
BANGKOK (AP) – World shares are mostly lower today as investors keep a wary eye on tensions with Iran and on prospects for a resolution of the tariffs war between China and the U.S. Germany’s DAX dropped 0.7% while the CAC 40 in Paris lost 0.5%. Britain’s FTSE 100 gave up 0.3%. In Asia, the Shanghai Composite index skidded 1.0%, while Hong Kong’s Hang Seng fell 0.8%. In South Korea, the Kospi was flat. On Wall Street, Dow and S&P futures are up 0.1%.
LONDON (AP) – Tunisia’s government is offering assurances that Thomas Cook clients won’t be prevented from leaving the country, following British media reports that vacationers were blocked at a hotel because of a payment dispute. The British tour operator has ceased trading and all its hundreds of thousands of bookings canceled after the firm failed to secure rescue funding. More than 600,000 vacationers had booked through the company.
GENEVA (AP) – The effects of President Donald Trump’s standoff with China could soon be coming to a post office near you, and higher shipping rates for some types of mail are the likely outcome. The administration is threatening to pull the United States out of the 145-year-old Universal Postal Union, complaining that some postal carriers like China’s aren’t paying enough to have foreign shipments delivered to U.S. recipients. A showdown looms at a special UPU congress from Tuesday to Thursday in Geneva.
NEW YORK (AP) – A strike against General Motors by 49,000 auto workers is in its eighth day. Bargainers met Sunday at GM’s headquarters in Detroit. The workers left their jobs last Monday after their four-year contract expired. They’re asking for a bigger slice of GM’s profits, new products to manufacture at plants GM wants to close, a path to permanent jobs for temporary workers and other items. GM wants to lower labor costs so they’re closer to rates of compensation for workers at U.S. factories owned by foreign automakers.
PARIS (AP) -A massive trial with more than 4,000 plaintiffs is opening for French pharmaceutical giant Servier Laboratoires and France’s medicines watchdog. They face charges of involuntary manslaughter and fraud over a scandal involving a diabetes medication suspected in hundreds of deaths. Although designed as a diabetes drug, Mediator was widely prescribed as a hunger suppressant before sales were suspended in France in 2009. The trial opening Monday in Paris is expected to last six months.