Lower opening expected on Wall Street … Fiat Chrysler shares drop … Britain’s top diplomat warns of no Brexit deal
SINGAPORE (AP) – World markets have been mixed today as trade tensions hog the headlines following a weekend meeting of financial leaders of the Group of 20 industrial nations. Germany’s DAX, France’s CAC 40 and Britain’s FTSE 100 are down in early trading. Markets closed down in Japan and South Korea. Hong Kong’s Hang Seng and the Shanghai Composite Index gained. Wall Street is expected to open lower, with Dow and S&P futures down.
MILAN (AP) – Shares in Fiat Chrysler Automobiles dropped 4 percent today in the first trading since news that the Italian-American automaker’s longtime CEO, Sergio Marchionne, was been replaced unexpectedly because of complications from surgery. FCA shares opened at 15.70 euros in volatile Milan trading.
BERLIN (AP) – Britain’s top diplomat is warning that the country could crash out of the European Union next year without an agreement on future relations with Brussels, causing economic and political damage on both sides. Foreign Secretary Jeremy Hunt says he told his German counterpart in Berlin today that “when it comes to Brexit there is now a very real risk of a Brexit ‘no deal’ by accident.” A deal needs to be ratified before Britain leaves the EU in March.
DETROIT (AP) – Beginning in 2020, the North American International Auto Show in Detroit will take place in June instead of January. Organizers say that will give automakers, industry suppliers and others to “deliver dynamic exhibits and experiential opportunities outside of the show’s four walls” at downtown’s Cobo Center. In other words, more favorable weather.
UNDATED (AP) – The maker of Ritz Crackers is voluntarily recalling some of its products because of the risk of salmonella. Mondelez Global says it’s recalling 16 varieties of Ritz Cracker Sandwiches and Ritz Bits products in the U.S. The products contain whey powder, which its supplier has recalled due to the potential presence of salmonella.