Financial News

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Financial News

 

 

World shares rally…Trump’s economy: Solid and steady but vulnerable to threats…Walgreens to pay $7.5M in settlement over phony pharmacist

 

BANGKOK (AP) – Shares rallied in Asia and Europe today after a recovery on Wall Street and further market-boosting support from China’s central bank. In early trading, Germany’s DAX rose 1% while in France the CAC 40 climbed 1.1%. Britain’s FTSE 100 surged 1.3%. In Asia, Japan’s Nikkei gained 0.5%, while the Kospi in South Korea jumped 1.8%. The Hang Seng in Hong Kong climbed 1.2%. The Shanghai Composite jumped 1.3%. Wall Street looks set for more gains, with Dow and S&P futures both up 1%.

 

WASHINGTON (AP) – A portrait of a robust U.S. economy is sure to fill center stage tonight when President Donald Trump gives his third State of the Union address. It is an economy that has proved solid and durable yet hasn’t fulfilled many of Trump’s promises.áNine months before the election, the economy keeps growing steadily if only modestly. Yet what Trump now calls an unprecedented boom is, by some measures, not all that different from the solid economy that he inherited from President Barack Obama.

 

NEW YORK (AP) – Federal antitrust regulators say a proposed merger that would combine old-school shaving company Schick with upstart Harry’s would end up costing consumers some skin. The Federal Trade Commission on Monday sued to block Edgewell Personal Care Co.’s $1.37 billion acquisition of Harry’s, which was supposed to be finalized this year. The FTC argues that bringing two major shaving brands together would hurt competition.

 

UNDATED (AP) – Two top executives at newspaper publisher Tribune are stepping down as the company deals with its largest shareholder, a hedge fund known for cutting newsroom jobs, and navigates the ongoing shift to online media. Both CEO Timothy Knight and non-executive chairman David Dreier are leaving their positions. The Chicago-based company, which owns the Chicago Tribune, New York Daily News, Baltimore Sun and other major daily papers, says chief financial officer Terry Jimenez will be the new CEO.

 

OAKLAND, Calif. (AP) – Walgreens will pay $7.5 million to settle with California authorities after an employee was charged with impersonating a pharmacist and illegally filling more than 745,000 prescriptions. Kim Thien Le has pleaded not guilty to felony impersonation charges. Prosecutors say she used the license numbers of registered pharmacists to dispense prescriptions at Walgreens stores in the San Francisco Bay Area.

 

 

AP-WF-02-04-20 1141GMT