Higher stocks…Youtube privacy…Biden ‘buy America’ plan
BEIJING (AP) – Global stock markets followed Wall Street higher today after further gains for major U.S. tech stocks. In early trading, the FTSE 100 in London added 0.1% and the DAX in Frankfurt jumped 1.4%. The CAC 40 in Paris advanced 0.3%. In Asia, the Shanghai Composite Index closed 1.4% higher the Nikkei in Tokyo added 0.4%. In Hong Kong, the Hang Seng gained 0.3% and the Kospi in Seoul was 0.4% higher. On Wall Street, futures for the S&P 500 and the Dow are off 0.1%.
UNDATED (AP) – Democratic presidential candidate Joe Biden is proposing sweeping new uses of the federal government’s regulatory and spending power to bolster U.S. manufacturing and technology firms. Biden wants a $400 billion, four-year increase in government purchasing of U.S.-based goods and services plus $300 billion in new research and development in U.S. technology concerns. The plan calls for such investments before negotiating any new international trade deals. Biden also proposes tightening current “Buy American” laws that are intended to benefit U.S. firms but can be easily circumvented by government agencies.
WASHINGTON (AP) – The Supreme Court is expected to rule Thursday on whether Congress and the Manhattan district attorney can see President Donald Trump’s taxes and other financial records that the president has fought hard to keep private. The high-stakes dispute tests the balance of power between the White House and Congress, as well as Trump’s claim that he can’t be investigated while in office. It’s not clear, even if Trump loses, how much of the material would become public. Trump has so far lost at every step, but the records have not been turned over pending a final court ruling.
BRUSSELS (AP) – The European Union’s highest court has ruled that online platforms like YouTube don’t have to disclose the full personal data including email addresses, telephone numbers or IP addresses of users who illegally upload movies and copyright material. The case stems from a German film distributor’s request that YouTube provide details about users who had uploaded two films onto the platform. YouTube and its parent company Google refused to provide their email addresses and telephone numbers, as well as the IP addresses they used. The European court said platforms like YouTube need only to provide a user’s postal address in such cases.
BERLIN (AP) – The European Union’s highest court has ruled that buyers of Volkswagen cars fitted with software installed to cheat diesel emissions tests can sue the automaker in the country where they bought the car rather than seeking damages in Germany. The European Court of Justice was asked to weigh in on the matter by a court in Austria, which is considering an Austrian consumer protection group’s claim for damages on behalf of 574 customers. The ECJ says Germany-based Volkswagen disputed the international jurisdiction of Austrian courts. The European court found that the place where the damage occurred was where the cars were bought from a third party – in this case, Austria.