Global stocks mixed …Google co-founders stepping down … OPEC nations grapple with oversupply of oil
BEIJING (AP) – Global stock markets are mixed today after President Donald Trump cast doubt over the potential for a trade deal with China this year. London declined in early trading and Shanghai and Tokyo closed lower while France and Germany advanced. Wall Street is expected to open higher, with Dow and S&P futures both up 0.5%.
SAN FRANCISCO (AP) – The co-founders of Google are stepping down as executives of its parent company just as scrutiny from regulators heats up. Larry Page and Sergey Brin will step aside as CEO and president of Alphabet to make room for Sundar Pichai, who has led Google as CEO for more than four years. Pichai has been serving as the de facto public and political face of the company for years. Pichai will continue leading shareholder meetings, earnings calls and Congressional testimonies – now with more authority.
UNDATED (AP) – The world may be heading for an even greater oversupply of oil, and that possibility is hanging over members of the OPEC cartel as they head into negotiations today. The oil-producing nations will decide whether to stick with production cuts they’ve endured for the past three years, relax them or deepen them in the hopes of propping up oil prices. But the group dynamics are complicated by Saudi Aramco’s upcoming stock market debut and the fact that some nations haven’t been complying with the existing cuts, leaving Saudi Arabia in a precarious position.
PARIS (AP) – Many workers in France will go on strike Thursday to protest the government’s planned overhaul of the pension system. Gathering in Paris, they want to vent their anger at the reform proposals that President Emmanuel Macron thinks are necessary to get the pension system onto a surer footing. The strikes are expected to snarl transport, including flights. Thousands of schools will be closed, and garbage may not be collected.
MEXICO CITY (AP) – Mexico’s president says his government has rejected a push from Democratic lawmakers in the United States to allow inspectors to check Mexican factories for labor rule compliance. Mexico has been pushing the U.S. Congress to approve a new North American trade accord before U.S. elections next year complicate the picture.