Financial News

AP Newswatch
March 6, 2018
AP Newswatch
March 7, 2018
Financial News

 

 

Global markets down … Germany concerned about Trump’s tariff talk … EU trade chief says Trump tariffs are for economic gain
SEOUL, South Korea (AP) – Global stock markets fell today after the surprise departure of President Donald Trump’s top economic adviser, Gary Cohn, who was the administration’s leading internal opponent of his planned tariffs on imports of steel and aluminum. In early trading, stocks are down in France and Germany. Britain’s FTSE 100 is flat. Most Asian markets closed down.

WASHINGTON (AP) – The White House has not yet announced a replacement for chief economic adviser Gary Cohn, whose departure has come following his clashing with President Donald Trump over trade policy. Jingyi Pan, a market strategist at IG in Singapore, says Cohn’s departure “certainly points strongly to the likelihood that little can halt the President from going ahead with his tariff plans and may mark more volatility to come for markets.”

BERLIN (AP) – Germany’s economy minister says “the situation is serious” regarding President Donald Trump’s planned tariffs on imports of steel and that the country is in close consultation with other member countries of the European Union about it. Economy Minister Brigitte Zypries says the EU will “be ready to react appropriately. However, it is our goal to avoid a trade war.” The EU trade chief Cecilia Malmstrom says she “seriously doubts” Trump wants tariffs on steel for national security, but for economic gain.

SEOUL, South Korea (AP) – Benchmark U.S. crude lost 73 cents to $61.86 per barrel in electronic trading on the New York Mercantile Exchange. The contract added 3 cents to finish at $62.60 a barrel on Tuesday. Brent crude, used to price international oils, fell 87 cents to $64.92 per barrel in London. In the previous session, it rose 25 cents to $65.79 a barrel in London. The dollar fell to 105.61 yen from 106.15 yen. The euro rose to $1.2422 from $1.2406.

UNDATED (AP) – Female brewers worldwide are raising a stein to International Women’s Day on Thursday. And thousands of women in the beer business as well as homebrewers are brewing together for the day. It’s a way to raise the profile of women in a male-dominated industry and network. British brewer Sophie de Ronde began encouraging women to brew together on March 8 five years ago.

AP-WF-03-07-18 1136GMT