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Ashe County High School Graduation Set for Saturday, July 25th
May 26, 2020
AP-NC Newswatch
May 26, 2020
Financial News

 

 

Global shares up … Casino tycoon Stanley Ho dies … Latam Airlines asks for bankruptcy protection

 

TOKYO (AP) – Global shares rose today as hopes for economic recovery overshadow worries over the coronavirus pandemic. In early trading, France’s CAC 40 jumped 1.4%, while Germany’s DAX gained 0.7%. The FTSE 100 in Britain, which was closed for trading Monday, surged 1.9%. In Asia, Tokyo’s benchmark Nikkei 225 finished 2.6% higher. South Korea’s Kospi gained 1.8%, Hong Kong’s Hang Seng added 1.9% and the Shanghai Composite advanced 1.0%. Wall Street is set for gains with Dow futures up 2.0% and S&P futures up 1.8%.

 

HONG KONG (AP) – Casino tycoon Stanley Ho, whose business empire dominated the Portuguese gambling enclave of Macao for decades, has died at age 98. Ho’s daughter Pansy Ho says her father died today in Hong Kong. Ho was considered the father of modern gambling in China. After a swashbuckling start as a smuggler and kerosene trader, he ended up as Macau’s richest person, a lavish spender and debonair ballroom dancer. Ho only fully retired in 2018, at age 96.

 

BANGKOK (AP) – Latam Airlines, South America’s biggest carrier, is seeking U.S. bankruptcy protection as it grapples with a sharp downturn in air travel sparked by the coronavirus pandemic. The Santiago, Chile-based airline says passenger and cargo flights will continue to operate during the reorganization, and employees will still be paid. Travelers with existing tickets and vouchers can still use them.

 

CANBERRA, Australia (AP) – A U.S. biotechnology company has begun injecting a coronavirus vaccine candidate into people in Australia with hopes of releasing a proven vaccine this year. A Novavax official says 131 volunteers will get an injection in the first phase of the trial testing the safety of the vaccine and looking for signs of its effectiveness. About a dozen experimental vaccines are in early stages of testing or poised to start.

 

MEXICO CITY (AP) – Walmart de Mexico says it has paid the Mexican government about $359 million in taxes due on its 2014 sale of a restaurant chain known as VIP’s after tax authorities demanded it. The payment appears to mark a victory for President Andres Manuel Lopez Obrador, who has railed against what he claims is tax evasion by big companies. Lopez Obrador has played hardball with companies before. In 2019 he forced gas pipeline companies to renegotiate contracts he said cost too much.

 

 

AP-WF-05-26-20 1048GMT