Financial News

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October 2, 2019
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October 3, 2019
Financial News

 

 

 

 

 

Global stocks mixed…House panel taps startup for Facebook files…Google to commit to White House job training initiative

 

BEIJING (AP) – Global stocks were mixed today after Wall Street fell on jitters about the global economy. London and Tokyo retreated in early trading, while Paris opened higher and Hong Kong advanced. German and Chinese markets were closed for holidays. Wall Street is expected to open higher today, with S&P futures up 0.4% and Dow futures up 0.3%.

 

UNDATED (AP) – A U.S. congressional panel has requested a trove of internal Facebook documents that the company’s critics say will show how the social media giant unfairly leveraged its market dominance to crush or absorb competitors. The request comes amid a flurry of new antitrust probes into whether Big Tech firms have unfairly used market power to crush competitors. The documents were unearthed in a bitter four-year legal battle waged by a defunct startup called Six4Three.

 

WASHINGTON (AP) – Google is committing to a White House initiative designed to get private companies to expand job training for American workers. CEO Sundar Pichai (pih-CHEYE’) is making the announcement today during an appearance with White House senior adviser Ivanka Trump at El Centro community college in downtown Dallas. Ivanka Trump oversees the administration’s worker training efforts.

 

COPENHAGEN, Denmark (AP) – Low-cost fashion retailer Hennes & Mauritz AB, known as H&M, says its third-quarter profit jumped 25% to 5 billion kronor on strong summer sales as the Swedish group’s recovery is well underway after a strategy shift. The Stockholm-based group says its quarterly sales increased by 12% to 62.3 million kronor ($6.3 million), adding its online sales in the third quarter increased by 30%.

 

LONDON (AP) – Britain’s government has restricted the export of 24 drugs as part of efforts to reduce shortages of some medicines, hormone replacement therapy drugs, contraceptives and adrenaline pens. The restrictions announced today will prevent wholesalers from taking advantage of short supplies and currency fluctuations to profit from selling medicines meant for U.K. patients to other countries for a higher price.

 

AP-WF-10-03-19 1042GMT