Financial News

AP Sports
January 28, 2020
AP-NC Newswatch
January 29, 2020
Financial News



World shares mostly advance … Some airlines suspend flights to China … Trump to sign renegotiated NAFTA


UNDATED (AP) – Shares advanced in most European and Asian markets today after a rebound on Wall Street reversed most losses from a sell-off the day before. Hong Kong’s Hang Seng closed 2.8% lower. Tokyo’s Nikkei gained 0.7% and South Korea’s Kospi picked up 0.4%. In early trading, Germany’s DAX lost less than 0.1%, while the CAC 40 in Paris picked up 0.2%. In London, the FTSE 100 rose 0.2%. Wall Street looks set for a steady start, with S&P 500 and Dow futures both up 0.1%.


BANGKOK (AP) – British Airways and Asian budget carriers Lion Air and Seoul Air are suspending all flights to China as fears spread about the outbreak of a new virus that has killed more than 130 people. Several other airlines including Finnair, Hong Kong-based Cathay Pacific and Singapore-based Jetstar Asia are reducing the number of flights to the country as demand for travel drops because of the outbreak. 


WASHINGTON (AP) – President Donald Trump will sign the renegotiated North American Free Trade Agreement on Wednesday. It’s a major rewrite of the rules of trade with Canada and Mexico. Trump made the agreement a priority during his 2016 campaign, although trade experts say the impact of the new U.S.-Mexico-Canada Agreement will be modest.


LONDON (AP) – Britain has decided to let Huawei have a limited role in supplying new high-speed mobile gear to wireless carriers. The Chinese tech company will also be banned from the network’s sensitive “core.” By giving Huawei limited access to new 5G networks, the U.K. is ignoring U.S. government warnings that it would cut off intelligence sharing over security concerns. Britain’s decision is the first by a major U.S. ally in Europe and follows intense lobbying from the Trump administration as the U.S. vies with China for technological dominance.


CAIRO (AP) – The Saudi Telecom Co. says it has reached a preliminary agreement to buy a 55% stake in the Egyptian holdings of telecommunications giant Vodafone. The kingdom’s largely state-owned communication firm says it has offered $2.39 billion in cash for the Egypt unit, as part of its continued efforts to carve out more market share in the Middle East. The British-based Vodafone is one of the world’s largest cellphone operators and the top provider in Egypt, with over 40 million Egyptian subscribers.



AP-WF-01-29-20 1136GMT