Global stock bounce back…Japan Oks ambitious nuke energy goals…Iran oil warning
SINGAPORE (AP) – Global stocks recovered on Tuesday as German leaders reached a surprising compromise on migration, putting fears that the weeks-long dispute may topple Merkel’s fourth government to rest. Investors took a breather from rising tensions ahead of higher tariffs, set to be imposed by the U.S. and China on each other starting Friday. Futures point to opening gains on Wall Street. Benchmark U.S. crude oil rose above $74.50 a barrel. The dollar rose against the yen and fell against the euro.
TOKYO (AP) – Japan on Tuesday approved an energy plan that sets ambitious targets for nuclear energy use and sustains a struggling program for spent-fuel recycling despite setbacks after the 2011 Fukushima disaster. The plan approved Tuesday by the Cabinet noted for the first time the need to reduce the plutonium stockpile, given international security concerns. The stockpile results from technical challenges in achieving fuel recycling and from slow restarts of reactors to burn it amid widespread anti-nuclear sentiment.
TEHRAN, Iran (AP) – Iran issued a new warning over Mideast oil supplies as the United Arab Emirates said on Tuesday it could increase its own production, the latest remarks to follow President Donald Trump’s demand for lower global energy prices. A recent decision by the Organization of the Petroleum Exporting Countries to increase the cartel’s own production by 1 million barrels a day has yet to tamp down prices. Iranian President Hassan Rouhani said that if Iran’s crude oil exports were threatened, the rest of the Mideast’s would be as well.
NEW YORK (AP) – Amazon’s Prime Day deals are coming to the aisles of Whole Foods as the online retailer seeks to lure more people to its Prime membership after a recent price hike. This year’s sales event, which starts July 16, will be six hours longer than last year’s and will launch new products. Amazon hopes to keep Prime attractive for current and would-be subscribers after raising the annual membership fee by 20 percent to $119 and to $12.99 for the month-to-month option. Outside of Prime Day, Amazon has added special discounts for Prime members.
WASHINGTON (AP) – The Washington Post reports a federal probe into Facebook’s sharing of user data with Cambridge Analytica now involves the FBI, the Securities and Exchange Commission and the Justice Department. The probe reportedly centers on what Facebook knew in 2015, when it learned that the political data-mining firm Cambridge Analytica had improperly accessed the personal data of tens of millions of Facebook users. Facebook didn’t disclose the incident with the political firm, which later worked for the Trump campaign and other Republican candidates, until this March.