Financial News

Wednesday, October 17th
October 16, 2018
AP-NC Newswatch
October 17, 2018
Financial News





Wall Street expected to open lower … Britain’s ‘moment of truth’ … Tesla secures land for Shanghai factory


SINGAPORE (AP) – Share prices in Europe and Asia were mostly higher today before a European Union meeting seeking to resolve an impasse over an exit deal for Britain’s departure from the bloc. In early trading, KEEPING SCORE: France’s CAC 40 added 0.2 percent, Britain’s FTSE 100 rose 0.3 percent and Germany’s DAX shed 0.3 percent. Most Asian markets were up. Wall Street is expected to open lower with Dow futures down 0.2 percent and S&P futures down 0.1 percent.


BRUSSELS (AP) – European Union leaders are converging on Brussels for what had been billed as a “moment of truth” Brexit summit but which now holds little promise for a breakthrough. British Prime Minister Theresa May is set to urge her counterparts to give ground on Britain’s departure from the bloc, while EU leaders hope she brings “concrete proposals” to break the deadlock. Britain leaves the EU on March 29 but a deal must be sealed soon so relevant parliaments have time to give their verdict.


LONDON (AP) – Official figures show that inflation in Britain eased markedly during September, a development that lowers the pressure on the Bank of England to raise interest rates at a time when the country faces acute uncertainty from Brexit. The Office for National Statistics says consumer prices were 2.4 percent higher in the year through September, down from 2.7 percent the previous month due to a fall in prices for food and non-alcoholic beverages.


TORONTO (AP) – Recreational marijuana is legal in Canada. Canada has had legal medical marijuana since 2001 and Prime Minister Justin Trudeau’s government has spent two years working toward expanding that to include recreational marijuana, which went into effect today. Also, anyone who had been convicted of possessing 30 grams or less of pot will be pardoned.


BEIJING (AP) – Tesla Inc. says it has secured land in Shanghai for its first factory outside the United States, pushing ahead despite mounting U.S.-Chinese trade tensions. The California-based automaker announced plans for the factory in July after Beijing said it would lift restrictions on full foreign ownership of electric vehicle manufacturers.



AP-WF-10-17-18 1058GMT