Financial News

Financial News
October 18, 2018
Saturday, October 20th
October 19, 2018
Financial News





Mixed stocks…China growth slows…Free trade meeting


BEIJING (AP) – Global stocks were mixed Friday after Wall Street declined on losses for tech stocks and Chinese economic growth slowed. Futures point to opening gains. Benchmark U.S. crude oil rose to just under $69 per barrel . The dollar gained against the yen and the euro.


BEIJING (AP) – China’s economic growth sank to its lowest level since the global financial crisis in the latest quarter, adding to challenges for its communist leaders as they fight a tariff battle with Washington. Government data showed the world’s second-largest economy expanded by 6.5 percent over a year earlier in the three months ending in September. That was down from 6.7 percent the previous quarter and the slowest rate since early 2009. China’s economy already was cooling due to a clampdown on credit.


BRUSSELS (AP) – European and Asian leaders gathered Friday to pledge their support for free trade, at a meeting that underscored trade tensions with U.S. President Donald Trump. German Chancellor Angela Merkel said the Asia-Europe Meeting in Brussels would send a signal that “countries are coming together here from Europe and Asia that all want rules-based global trade and are committed to multilateralism.” Together, the group accounts for some two-thirds of the world’s economic output, 55 percent of global trade and 60 percent of the world’s population.


PARIS (AP) – The European Union’s chief negotiator warns that disagreements over the Ireland border could lead to a breakdown in the Brexit discussions. Michel Barnier tells France Inter radio a deal to keep goods flowing smoothly between EU member state Ireland and Northern Ireland in the U.K. after Brexit is a “prerequisite” for a successful outcome to the divorce talks.


CANBERRA, Australia (AP) – The president of Australia’s top lawyers’ group told a parliamentary inquiry that proposed cybersecurity laws to force global technology companies such as Facebook and Google to help police by unscrambling encrypted messages sent by extremists and other criminals would significantly limit individuals’ privacy and freedom. A parliamentary committee on Friday began examining a bill introduced last year that is modeled on Britain’s Investigatory Powers Act. That law has given British intelligence agencies some of the most extensive surveillance powers in the Western world.



AP-WF-10-19-18 1035GMT