Global markets drift lower … Preparing to retaliate … Zuckerberg under fire
SEOUL, South Korea (AP) – Global stock markets are drifting lower today as investors await further moves in global trade disputes with the U.S. mulling whether to impose new tariffs on autos and auto parts. European markets have traded mostly lower early today with France’s CAC 40 down 0.4 percent and Germany’s DAX down 0.3 percent. But Britain’s FTSE 100 is up 0.2 percent. Asian markets finished mostly lower. It could be a lukewarm start for Wall Street, with S&P futures down 0.2 percent and Dow futures down 0.1 percent.
BRUSSELS (AP) – The European Union says it is already preparing measures to retaliate against the U.S. if President Donald Trump imposes tariffs on imported cars and auto parts. EU Trade Commissioner Cecilia Malmstrom says the 28-nation bloc would be forced to impose more “rebalancing measures” if Trump escalates trade tensions with the auto tariffs. They would come on top of tariffs the U.S. put on steel and aluminum imports, which the EU responded to with duties on U.S. products.
NEW YORK (AP) – Remarks from Facebook CEO Mark Zuckerberg have sparked criticism from groups such as the Anti-Defamation League. Zuckerberg, who is Jewish, told Recode’s Kara Swisher in an interview that although he finds Holocaust denial “deeply offensive,” such content should not be banned from Facebook. The Anti-Defamation League says Facebook has a “moral and ethical obligation” not to allow people to disseminate Holocaust denial on its platform.
LONDON (AP) – Five local government councils are going to court to stop the expansion of London’s Heathrow Airport, and London Mayor Sadiq Khan has joined the action. Parliament last month approved plans for a third runway at Heathrow. Prime Minister Theresa May says the expansion will boost economic growth, but neighbors and environmentalists object because of concerns about noise, pollution and climate change.
MOUNTAIN VIEW, Calif. (AP) – Loon, the internet-delivering-balloon unit of Google-parent Alphabet, is announcing its first commercial deal. The company says it will work with partner Telkom Kenya to deliver 4G/LTE cellular access to Kenya in 2019. The announcement comes just a week after Loon graduated from Alphabet’s secretive “moonshot factory” known as X. That means it’s considered a full-fledged company beside sister companies including Google and Waymo.