Financial News

Financial News
June 25, 2018
AP-NC Newswatch
June 26, 2018
Financial News




Mixed stocks…Harley move…UK car industry hit


SINGAPORE (AP) – Global markets were mixed today as some traders clawed back losses led by technology stocks prompted by U.S. moves to gain an upper hand in trade with China. Futures point to a mixed opening on Wall Street. OPEC countries have agreed to raise the supply of crude oil by 1 million barrels a day. But investors aren’t sure if the cartel will carry it out. Benchmark U.S. crude oil rose but remains below $68.50 per barrel. The dollar rose against the yen and the euro.


MILWAUKEE (AP) – Production of Harley-Davidson motorcycles sold in Europe will move from U.S. factories to facilities overseas. The Milwaukee-based company says it’s a consequence of the retaliatory tariffs the EU is imposing on American exports in an escalating trade war with the Trump administration. President Donald Trump has used the iconic American motorcycle maker as an example of a U.S. business harmed by trade barriers in other countries, but Harley had warned that tariffs could negatively impact its sales.


LONDON (AP) – Britain’s leading car manufacturing trade association says investment in U.K. auto production has fallen by half in the last year due to worries over the country’s upcoming exit from the European Union. The Society of Motor Manufacturers and Traders says only 347 million pounds ($460 million) was invested in new models and facilities during the first half of 2018 compared to 647 million pounds during the same period the year before.


SAN FRANCISCO (AP) – Apple CEO Tim Cook intends to continue lambasting U.S. immigration policies and other issues that trouble him to avoid falling into an “appalling silence.” Cook outlined his views on when CEOs should protest government policies during a Monday evening appearance at a business conference hosted by Fortune magazine.. His remarks came a week after he condemned the Trump administration’s since-reversed practice of separating children from parents accused of crossing the U.S. border illegally in an interview with The Irish Times.


CANBERRA, Australia (AP) – Australia has bought the first of six U.S.-manufactured long-range drones that will cost 6.9 billion Australian dollars ($5.1 billion) and significantly increase the nation’s military surveillance and reconnaissance capabilities. A government minister says the first MQ-4C Triton was purchased from Northrop Grumman for AU$1.4 billion ($1 billion). The minister says the drone, which has the same wingspan as a Boeing 737, will give Australia high-altitude reconnaissance and surveillance capabilities across 10 percent of the world’s surface.



AP-WF-06-26-18 1035GMT