Financial News

Margaret Kate Jones
February 10, 2020
AP-NC Newswatch
February 11, 2020
Financial News



Global markets turn higher … China denies involvement in Equifax hacking … French wine industry puts itself on show


BEIJING (AP) – Global stock markets turned higher today, at least temporarily shaking off jitters about China’s virus outbreak. In early trading, indexes in London and Frankfurt advanced, while in Asia, markets in Shanghai, Hong Kong and Seoul closed higher. Tokyo fell for a second day. Wall Street is expected to open slightly higher, with Dow futures up 0.35% and S&P futures up .02%.


BEIJING (AP) – China is denying involvement in any hacking activities after the United States indicted four members of the Chinese military for allegedly breaking into the computer networks of the Equifax credit reporting agency and stealing the personal information of tens of millions of people. The Justice Department accused Beijing on Monday of engineering one of the biggest hacks in history targeting consumer data. Foreign ministry spokesman Geng Shuang says China is committed to opposing and combating cyberattacks of any kind, and that its institutions never engage in cybertheft of trade secrets.


BILLINGS, Mont. (AP) – U.S. officials say oil production from federally-managed lands and waters topped a record 1 billion barrels last year. That’s up more than 13 percent from 2018 as shorter permitting times and technological advances drive development in new areas. The Associated Press obtained the figures in advance of a planned announcement today by the Department of Interior. Critics charge that the gains being made by energy companies come at the expense of the environment, with fewer safeguards to protect the land and wildlife from harm. Oil production royalties collected by the government increased to $7.5 billion in 2019.


ADDIS ABABA, Ethiopia (AP) – The president of the African Development Bank says Africa shouldn’t have to beg for help in addressing climate change. He tells The Associated Press in an interview that global powers that are polluting “have to pay.” Akinwumi Adesina says the financing promised to African countries to cope with the consequences of climate change “needs to be put on the table.” Africa’s more than 1.2 billion people stand to suffer the most from global warming while contributing to it the least, and their region is the least equipped in the world to deal with its effects.


PARIS (AP) – France’s big wine industry is hoping to re-energize global interest in its products with a big trade fair in Paris. The industry faces big uncertainties, from climate change to U.S. tariffs imposed last year by President Trump. The three-day Vinexpo fair in Paris runs through Wednesday and will see 2,000 winemakers showcase their goods to some 30,000 French and international visitors. Among the curiosities are technological innovations like robots that can remove weeds and reduce the need for herbicides. Electrical tractors that can help reduce carbon emissions are also on show.



AP-WF-02-11-20 1157GMT