Global markets lower … Supreme Court to rule on collective bargaining … Bargain basement, and potentially dangerous
SEOUL, South Korea (AP) – Global markets were lower today, with Chinese stocks leading the declines as jitters over trade conflicts between the world’s largest economies lingered. Oil prices extended their gains as the U.S. pushed other countries to cut oil imports from Iran. Wall Street is also expected to open lower, with Dow futures down 0.8 percent and S&P futures down 0.7 percent.
WASHINGTON (AP) – The Supreme Court has two cases left to decide before justices begin their summer break. A decision is expected to be handed down Wednesday on whether to invalidate state laws that require public employees to pay fees to the unions that represent them in collective bargaining, even if the workers don’t want to be union members. The other case involves Florida’s claim that Georgia uses too much water from the rivers that flow into the Florida Panhandle and the Gulf of Mexico.
LOS ANGELES (AP) – Some California shops are selling untested marijuana at bargain basement prices ahead of strict quality and safety standards that take effect Sunday. Anything untested that isn’t sold by then must be destroyed. That means deep discounts, but also a product that could be tainted with pesticides or mold or solvents. Some industry insiders are concerned that shops and distributors who hoped rules would be delayed and didn’t stock tested pot will create a shortage of clean marijuana for consumers.
CANBERRA, Australia (AP) – An executive for Chinese telecommunication giant Huawei (wah-way) says Australia could damage its economic future if it bans the company from the nation’s next-generation mobile network technology. Huawei Australia Chairman John Lord says his company is discussing with government “at all levels” on its involvement in 5G networks. He dismissed reports the government is poised to ban the company from supplying those networks.
COPENHAGEN, Denmark (AP) – (AP) – Norway has sold its remaining stake in Scandinavian Airlines, saying the move will strengthen the carrier by reducing state ownership. Norway’s Trade and Industry minister says Norway has sold its remaining 37.8 million shares, representing nearly 9.90 percent of the airline.