Global stocks mixed … Fiat Chrysler’s Marchionne dies … Necco wafers being sold again
BEIJING (AP) – Global stock markets have been mixed today after Wall Street gained on strong corporate earnings amid U.S.-Chinese trade tensions on Tuesday. In early trading, London’s FTSE 100 lost 0.3 percent while France’s CAC 40 gained 0.2 percent. Frankfurt’s DAX lost 0.1 percent. In Asian markets, Tokyo’s Nikkei 225 gained 0.5 percent while the Shanghai Composite Index was unchanged. Seoul’s Kospi fell 0.3 percent. Dow futures are unchanged and S&P futures are off 0.1 percent.
MILAN (AP) – Former Fiat Chrysler CEO Sergio Marchionne has died. He was 66. Marchionne abruptly stepped down and was replaced as CEO just days ago after the company said his condition following shoulder surgery took a turn for the worse. Marchionne engineered two long-shot corporate turnarounds to save both Fiat and Chrysler from near-certain failure.
WASHINGTON (AP) – President Donald Trump says he’ll propose to European officials that both sides drop all tariffs, barriers and subsidies. But he tweets that he doubts the Europeans will go for the idea. Trump is meeting today with European Commission President Jean-Claude Juncker (zhahn-KLOHD’ YUN’-kur). The U.S. and European allies are at odds over the president’s tariffs on steel imports and are meeting as the trade dispute threatens to spread to automobile production.
BERLIN (AP) – Germany’s foreign minister says Britain must act to secure an orderly departure from the European Union, and the bloc won’t make any deals to Europe’s detriment. Britain’s new foreign secretary, Jeremy Hunt, said earlier this week that the U.K. could crash out without an agreement next year because of the hard line taken by EU negotiators.
REVERE, Mass. (AP) – The owner of a company that makes candies such as Necco wafers and Sweethearts has unexpectedly shut down operations at its Massachusetts plant. The Boston Globe reported Tuesday that Round Hill Investments LLC is selling Necco brands to another confection manufacturer and closing down its Revere plant. The company had recently purchased Necco for $17.3 million at a bankruptcy auction in May. Necco is the country’s oldest continuously operating candy company.