US stocks open higher…US, UK officials meet as PM Johnson’s Huawei decision nears…Corvette wins car of year award
Eds: Fixes wording in 4th item, last sentence.
NEW YORK (AP) – Stocks are opening higher on Wall Street ahead of a busy week for investors. Major banks including JPMorgan Chase start reporting their latest quarterly results on Tuesday and the U.S. and China are set to sign and disclose details about their “Phase 1” trade deal on Wednesday. At 10:54 a.m. Eastern time, the S&P 500 was up 11 points, to 3,276. The Dow Jones Industrial Average added 58 points, to 28,879. The Nasdaq climbed 40 points, or 0.2%, to 9,219. Bond prices fell and yields rose as demand for safe-haven assets diminished. The yield on the 10-year Treasury note rose to 1.85%.
LONDON (AP) – British and American officials are meeting as U.K. Prime Minister Boris Johnson’s government prepares to decide on whether there’s a future for Chinese equipment maker Huawei (WAH’-way) in the country’s next-generation telecom networks. The prime minister’s spokesman says U.S. officials responsible for national security and telecommunications are meeting their counterparts in Britain. James Slack tells reporters, the government is “continuing to look at the security of the 5G network” and will inform Parliament once a decision is made.
UDATED (AP) – Woodward and Hexcel are merging in an all-stock deal that would create one of the largest suppliers in the aerospace and defense industry. The companies say the tie-up will allow them to create more efficient aircraft that will reduce emissions, a big hurdle for the aerospace industry. The new company, called Woodward Hexcel, will generate more than $5 billion in annual sales with a market capitalization nearing $14 billion and more than 16,000 employees. Woodward Hexcel will have manufacturing operations in 14 countries on five continents.
DETROIT (AP) – The new mid-engine Chevrolet Corvette has won the North American Car of the Year award. The Kia Telluride took Sport Utility of the Year honors and the Jeep Gladiator won the Truck of the Year Award. About 50 automotive journalists serve as judges, for the awards, which are announced every January. The vehicles are chosen from dozens of candidates and are judged on value, innovation, design, performance, safety, technology and driver satisfaction.
LYON, France (AP) – In France, even lawyers go on strike. Magistrates draped their black robes on the staircase leading to Lyon’s main courthouse today to protest the government’s plans to end the special retirement system for lawyers and others who work in the legal sector. The walkout is part of a nationwide movement to stop President Emmanuel Macron from overhauling the French pension system, an ambitious but clumsily handled reform that has been stymied by 40 days of strikes.