Financial News

Covid-19 Death in Ashe County
May 27, 2020
AP-NC Newswatch
May 27, 2020
Financial News

 

 

Global stocks mixed…Congress considers overhauling small-business aid…Board: Puerto Rico to see 65% surplus drop

 

UNDATED (AP) – Global stock markets were mixed today as U.S.-Chinese tensions over Hong Kong vied with optimism about recovering from the coronavirus pandemic. In early trading in Europe, the FTSE 100 in London rose 0.9%, Frankfurt’s DAX added 1% and the CAC 40 in France gained 1.1%. In Asia, Hong Kong’s Hang Seng lost 0.4% and the Shanghai Composite Index declined 0.3%. But Wall Street is expected to open higher this morning, with Dow futures up 1% and S&P futures up 0.9%.

 

WASHINGTON (AP) – Congress is shifting its attention to a more modest overhaul of small business coronavirus aid, although it remains deadlocked on a larger relief bill. The House this week is expected to pass legislation that would give small employers more time to take advantage of federal subsidies for payroll and other costs. The Senate is considering a similar proposal.

 

TOKYO (AP) – The auto alliance of Nissan and Renault will be sharing more vehicle parts, technology and models to save costs as the industry struggles to survive the coronavirus pandemic. The Alliance Operating Board says the group, which also includes Mitsubishi Motors, will have each company focus on geographic regions and the Japanese-French alliance will pursue efficiency and competitiveness, not sheer sales volumes.

 

SAN JUAN, Puerto Rico (AP) – A federal control board that oversees Puerto Rico’s finances is preparing to vote on a revised fiscal plan as it warns the island’s surplus could plunge by 65% and that the government is unable to pay current debt obligations. The plan that will be debated today will serve as a blueprint for a U.S. territory crippled by hurricanes, earthquakes and the coronavirus pandemic as it continues to restructure a portion of its more than $70 billion public debt load.

 

NEW YORK (AP) – Walmart is teaming up with online resale site ThredUP.com to offer nearly 750,000 items of used women’s and children’s clothing and accessories items on its website. The move marks Walmart’s entry into the used clothing business, which has been a retailing bright spot. A few years ago, the nation’s largest retailer began selling used watches on its site.

 

 

AP-WF-05-27-20 1036GMT