Stocks gain…China denies knowledge of arrest of Canadian… Kushners’ potential benefit
TOKYO (AP) – Global shares rose Wednesday amid hopes for progress in U.S.-China trade talks. Futures point to an upward drift on Wall Street. Benchmark U.S. crude oil rose above $52 a barrel. The dollar rose against the yen and the euro.
BEIJING (AP) – China’s Foreign Ministry has denied knowledge of the detention of a former Canadian diplomat, as Chinese citizens rejoiced over a Canadian court’s decision to release a top Huawei Technologies executive on bail. The release of Huawei Technologies’ Chief Financial Officer Meng Wanzhou (MUHNG’ Wahn-JOH’) prompted an outpouring of support for her and her Shenzhen-based company Wednesday on social media. A university student in Beijing told the AP that he thinks the detention of former diplomat Michael Kovrig was related to Meng’s case.
WASHINGTON (AP) – An Associated Press investigation finds President Donald Trump’s daughter and son-in law could benefit from a program they pushed that offers massive tax breaks to developers who invest in downtrodden American areas. Ivanka Trump and Jared Kushner own a major stake in a real estate investment firm that is launching a series of funds to take advantage of the Opportunity Zone program. And separately, Kushner’s family firm owns at least 13 properties that could qualify for the tax breaks.
VANCOUVER, British Columbia (AP) – President Donald Trump says he would consider intervening in the Justice Department’s case against a top Chinese executive if it would be in the interest of U.S. national security and help forge a trade deal with China. Trump told Reuters in an interview at the White House that if he thinks it would be good for what will “certainly be the largest trade deal ever made” he would intervene if necessary. A Canadian court granted bail Tuesday to executive of Chinese telecommunications giant Huawei.
WASHINGTON (AP) – The Trump administration proposed withdrawing federal protections for countless waterways and wetlands across the country Tuesday, making good on President Donald Trump’s campaign pledge to weaken landmark Obama-era water rules long opposed by some developers, farmers and oil, gas, and mining executives. R.D. James, assistant secretary of the Army for civil works, said the scaling back of federal oversight is “recognizing and respecting the primary authority of states and tribes” over the waterways.