Asian stocks higher, European, lower…WTO body formally OKs US sanctions against EU in Airbus case…3 economists from US institutions win Nobel
BEIJING (AP) – Asian stocks rose today while European markets opened lower after Washington and Beijing announced a truce on tariff hikes in a trade war. London and Frankfurt are down in early trading while Shanghai and Hong Kong markets closed higher. Japanese markets were closed for a holiday. On Wall Street, S&P and Dow futures are both unchanged.
GENEVA (AP) – The World Trade Organization has formally given the go-ahead for the United States to impose trade sanctions on up to $7.5 billion worth of European Union goods following a ruling that European plane maker Airbus received illegal subsidies. The record $7.5 billion ruling found that the European bloc and member states Britain, France, Germany and Spain failed to remove improper subsidies for Airbus that hindered sales by U.S. rival Boeing. The Trump administration plans to impose the sanctions starting Friday.
STOCKHOLM (AP) – The 2019 Nobel Prize in Economic Sciences has been awarded to three economists who have taken an “experimental approach to alleviating global poverty.” Recipients Abhijit Banerjee and Esther Duflo are both at Massachusetts Institute of Technology and Michael Kremer is at Harvard University. Duflo is the second woman to win the economics prize.
BEIJING (AP) – China’s auto sales sank 6.3% from a year earlier in September, putting the market on track to shrink for a second straight year at a time when brands are spending heavily to meet government targets to develop electric cars. The industry group China Association of Automobile Manufacturers reports that sales of sedans, SUVs and minivans in the global industry’s biggest market declined to 1.9 million. Demand has been hurt by consumer jitters over a trade war with Washington and slowing economic growth.
LONDON (AP) – Brexit negotiators are meeting again today in an attempt to reach a deal that would allow Britain to leave the European Union with a deal at the end of the month. Ireland says a Brexit deal may be possible in the coming days, after technical teams from Britain and the EU worked through the weekend. Discussions centered on the difficult issue of the future border arrangements between EU member Ireland and Northern Ireland, which is part of the U.K.