Financial News

Thursday, November 8th
November 7, 2018
AP-NC Newswatch
November 7, 2018
Financial News

 

 

 

 

Stocks rally…Zuckerberg rebuffs international panel…Nevada voters elect dead brother owner

 

NEW YORK (AP) – Stocks are climbing in morning trading on Wall Street as results of the U.S. midterm elections came in as investors had expected. Technology and health care companies rose broadly in early trading, as did big retailers. Health insurers did especially well after the Democrats took control of the House of Representatives, greatly decreasing the chances that the Affordable Care Act will be repealed.

 

LONDON (AP) – Facebook CEO Mark Zuckerberg has rejected a request to appear before an international parliamentary committee delving into the questions around fake news. The head of the U.K. parliament’s media committee had joined forces with his Canadian counterpart in hopes of pressuring Zuckerberg to testify, as he did before the U.S Congress. Facebook rejected the invitation to appear before the so-called “international grand committee” session Nov. 27, arguing it wasn’t possible for Zuckerberg to appear before all parliaments.

 

FRANKFURT, Germany (AP) – A European Central Bank survey suggests the digital technologies sweeping through the corporate world mean some loss of jobs at big companies while bringing stronger sales and productivity. But a key question for policymakers – what the digital revolution means for inflation – was harder to answer. Retailers told them e-commerce should lower prices to consumers, while goods producers foresaw more chance to raise prices thanks to new technologies such as 3D printing and internet-connected devices. The ECB surveyed 74 of the biggest global companies in Europe.

 

BERLIN (AP) – The German government’s panel of independent economic advisers has cut its growth forecast for this year, citing a tougher foreign trade environment, among other issues. The five advisers on Wednesday predicted growth of 1.6 percent this year in Europe’s biggest economy, down sharply from the 2.3 percent they forecast in March. They predicted an expansion of 1.5 percent next year, down from 1.8 percent. Last year, gross domestic product grew 2.2 percent, Germany’s strongest performance in six years. The government last month forecast 1.8 percent growth for 2018.

 

LAS VEGAS (AP) – A Nevada brothel owner and reality TV star who died last month after fashioning himself as a Donald Trump-style Republican candidate has won a heavily GOP state legislative district. Dennis Hof defeated Democratic educator Lesia Romanov on Tuesday in the race for Nevada’s 36th Assembly District, which includes rural communities and large stretches of desert in the southern part of the state. County officials will appoint a Republican to take his place in the seat.

 

 

AP-WF-11-07-18 1603GMT