Financial News

Carroll Lee Hubbard
February 24, 2020
AP-NC Newswatch
February 25, 2020
Financial News



Shares lower in Europe … Trump optimistic about eventual US-India trade deal … Intuit buying Credit Karma


UNDATED (AP) – Shares opened lower in Europe today after a mixed session in Asia, where Tokyo’s Nikkei skidded more than 3%. In early trading, Germany’s DAX lost 0.3% and the CAC 40 in Paris lost 0.5%. In Britain, the FTSE 100 lost 0.4%. In Asia, the Nikkei 225 index lost 3.3%, to 22,605.41 after markets reopened from a holiday on Monday. In Asia, Hong Kong’s Hang Seng closed 0.3% higher and the Shanghai Composite index shed 0.6%. Wall Street is expected to open higher, with Dow and S&P futures both up 0.3%.


NEW DELHI (AP) – President Donald Trump says he’s optimistic about the prospects of inking a trade deal with India. Trump commented on the final day of his two-day visit to the country, meeting today in New Delhi with Indian Prime Minister Narendra Modi. Trump said after the meeting that their respective teams had “made tremendous progress” on a comprehensive trade agreement. Trump also says India has agreed to buy $3 billion worth of U.S. military equipment.


BRUSSELS (AP) – European Union ministers are set to approve a tough mandate for its negotiations with the United Kingdom on a free trade deal in the wake of Britain’s departure from the bloc. EU negotiator Michel Barnier has said that the EU is willing to offer the U.K. the best trade relations possible but only if London commits to a level playing field on everything from state aid to environmental standards. Britain has rejected this, claiming it must be able to diverge from EU rules.


UNDATED (AP) – Intuit says it is buying consumer finance company Credit Karma in a $7.1 billion cash and stock deal. The agreement would bring together the maker of well-known personal finance tools such as TurboTax and Mint, with a company that focuses on access to consumer financial products, such as finding the right loan or credit card. According to the companies, Credit Karma, founded in 2007 and based in San Francisco, has more than 100 million members in the U.S., Canada and U.K. It generated nearly $1 billion in revenue in 2019.


TOKYO (AP) – Japanese carrier ANA is ordering 20 Boeing 787 Dreamliner jets, bringing its fleet of the planes to 103 by 2025. ANA Holdings says the latest order will consist of 11 787-10 aircraft, set to go into service for Japan routes sometime between 2022 and 2024. Nine 787-9 models, for international services, will begin services fiscal 2024 and 2025. A price for the deal was not given. Seventy-one of the aircraft is already in service with ANA, or All Nippon Airways. ANA says they replaced the Boeing 777 series, reducing noise and emissions.



AP-WF-02-25-20 1141GMT