World shares advance … Senate to take up North American trade pact … German officials agree plan to exit coal-fired power by 2038
BANGKOK (AP) – Global markets took cheer today from the signing of a preliminary China-U.S. trade agreement that investors hope will bring better relations between the two biggest economies. In early trading, Germany’s DAX advanced 0.4%, the CAC 40 in Paris also climbed 0.4%. In Britain, the FTSE 100 was almost unchanged. In Asia, Japan’s Nikkei closed less than 0.1% higher, while the Kospi in South Korea added 0.8%. Shares fell in China, with the Shanghai Composite index giving up 0.5%. In Hong Kong, the Hang Seng picked up 0.4%. Wall Street is looking for gains, with Dow and S&P futures both gaining 0.3%.
WASHINGTON (AP) – One day after signing a new trade deal with China, President Donald Trump is expected to get more good news on his trade agenda today, with the Senate taking up the new North American trade pact. The House has already overwhelmingly approved the United States-Mexico-Canada Agreement. The Senate is expected to do the same and send the measure to Trump’s desk for his signature before senators turn to articles of impeachment.
DHAKA, Bangladesh (AP) – A group set up by European clothing brands that has monitored factory safety in Bangladesh for years plans to leave the country in May. Its duties are being assumed by a local group including unions and industry figures in the world’s second-largest garment manufacturer. The monitoring group was formed after the collapse of a building with garment factories in 2013 that killed at least 1,134 people.
BERLIN (AP) – The German government says officials have agreed on a plan to shut down the nation’s coal-fired power plants by the mid to late 2030s that will involve operators getting billions of euros in compensation. A year ago, a government-appointed panel recommended that Germany stop burning coal to generate electricity by 2038 at the latest, as part of efforts to curb climate change. However, efforts to translate that into policy had stalled over recent months.
SACREMENTO, Calif. (AP) – California is considering raising taxes on some of the country’s largest companies. The size of the tax increase would depend on how much a company pays its top executives compared to the average salary of the company’s workers. The bigger the gap, the bigger the tax increase would be. The proposal would apply to about 2,000 companies nationwide that do business in California. That would include The Walt Disney Co. The granddaughter of company co-founder Roy Disney, Abigail Disney, supports the bill. Many of the state’s business groups oppose it.