Shares advance…China confirms detentions…May seeks EU lifeline
BANGKOK (AP) – Shares rose in Europe and Asia on Thursday after a strong overnight finish on Wall Street. Traders were encouraged by a Wall Street Journal report saying the Chinese government might make changes to its “Made in China 2025” economic development plan. Futures point to opening gains on Wall Street. Benchmark U.S. crude oil fell below $51 per barrel . The dollar rose against the yen and fell against the euro.
BEIJING (AP) – China on Thursday confirmed it has detained two Canadian men, raising the stakes in a three-way international dispute over the case of a Chinese telecoms executive facing possible extradition from Canada to the United States. Foreign Ministry spokesman Lu Kang said entrepreneur Michael Spavor and former Canadian diplomat Michael Kovrig were taken into custody on Monday on suspicion of “engaging in activities that endanger the national security” of China.
LONDON (AP) – British Prime Minister Theresa May is seeking a lifeline from European Union leaders Thursday after winning a no-confidence vote among her own Conservative lawmakers. May will ask the other 27 EU leaders at a summit in Brussels for reassurances about the deal that she can use to win over a skeptical British Parliament, particularly those within her party who triggered the no-confidence vote in the first place. Earlier this week, to great uproar in Parliament, May scrapped a planned vote on the deal this week when it became clear she would lose.
FRANKFURT, Germany (AP) – The European Central Bank is expected to halt the stimulus program that it deployed nearly four years ago to nurture a teetering eurozone economy back to health. Analysts say the bank is likely to confirm Thursday its plan to stop the program’s monthly bond purchases at year end despite worries about growth. The program pumped 2.6 billion euros ($3 billion) into the economy of the 19 countries that use the euro. Attention will turn to President Mario Draghi’s news conference for clues about whether the bank might postpone its first interest rate increase.
AUSTIN, Texas (AP) – Apple says it plans to build a $1 billion campus in Austin, Texas. The company statement early Thursday says it also plans to establish locations in Seattle, San Diego and Culver City, California, with more than 1,000 employees at each. The tech giant based in Cupertino, California, says the new campus in Austin will start with 5,000 employees and provide jobs covering engineering, research and development, operations, finance, sales and customer support. It will be less than a mile from existing Apple facilities.