Financial News

Friday, December 20th
December 19, 2019
AP-NC Newswatch
December 19, 2019
Financial News

 

 

 

Global stocks mixed … Uber threatens to stop Phoenix operations … Lufthansa caterers strike

 

BEIJING (AP) – Global stock markets were mixed today after the U.S. House of Representatives voted to impeach President Donald Trump and Japan’s central bank kept ultra-low interest rates unchanged. In early trading, London’s FTSE 100 was off 5 points and Frankfurt’s DAX was up 8 points. France’s CAC 40 gained 0.1%. In Asia, Tokyo’s Nikkei 225 lost 0.3%, Hong Kong’s Hang Seng sank 0.3% and Seoul’s Kospi was off 2 points. Dow and S&P futures are flat.

 

PHOENIX (AP) – Uber says it will stop operating in Phoenix because the city is raising its fees charged to ride-hailing companies at the airport. Under the measure, the current fee of $2.66 per curbside pickup at Phoenix Sky Harbor International Airport will increase to $4 on Feb. 1. It also will create a new drop-off fee, set at $4. The pickup and drop-off fees to the ride-hailing companies would gradually increase to $4.25 in 2021, $4.50 in 2022, $4.75 in 2023 and $5 in 2024.

 

BERLIN (AP) – Germany’s flagship airline Lufthansa is warning of inconveniences for passengers and possible delays today in an ongoing dispute with its catering service employees. The Ver.di union called for a 24-hour warning strike for caterers in Frankfurt and Munich. The Union is pushing for wage assurances from Lufthansa as it prepares to sell its LSG Sky Chefs subsidiary to Switzerland’s Gategroup.

 

COPENHAGEN, Denmark (AP) – Sweden’s central bank says it has raised its benchmark interest rate to zero from -0.25% amid signs that inflation has been picking up. The bank says the country’s inflation has been close to its official target of 2% since the start of 2017 and assessed “the conditions are good for inflation to remain close to the target going forward.” The bank says the rate is “expected to remain at 0% in the coming years.”

 

LONDON (AP) – Britain’s Times newspaper says hedge funds have had access to market-sensitive news conferences at the Bank of England a crucial few seconds earlier than the rest of the public. That could have allowed them to make big profits as having access to comments from the Bank of England’s governor before the official broadcast feed can give a big advantage to traders who use powerful computer programs. The Bank of England says an audio feed that was meant to serve as a backup in case its video broadcast fails was misused by a third party.

 

 

AP-WF-12-19-19 1136GMT