Financial News

Friday, July 17th
July 16, 2020
AP-NC Newswatch
July 17, 2020
Financial News



Global stocks mixed…EU budget summit…Burger King China


BEIJING (AP) – Global stock markets were mixed today after Wall Street slipped on uncertainty about the U.S. economic outlook. In early trading, Frankfurt, Shanghai and Hong Kong advanced while London and Tokyo declined on a day with no major market-moving news. On Wall Street, S&P futures are up 0.2% and Dow futures are little changed.


BRUSSELS (AP) -European Union leaders is acknowledging they are far apart from reaching a deal on an unprecedented 1.85 trillion euro ($2.1 trillion) EU budget and recovery fund. They’re also sitting far apart in a huge room at the summit center, for health reasons. The bloc is suffering through the worst recession in its history and member states are fighting over who should pay the most to help other countries. French President Emmanuel Macron led the early negotiations, arriving the night before today’s summit and meeting with Dutch Prime Minister Mark Rutte, a stringent budget hardliner and considered one of the biggest obstacles to reaching a deal at the two-day meeting.


BEIJING (AP) – Burger King’s China unit has issued a public apology and promised to cooperate with a government investigation after state TV reported one of the U.S. fast food giant’s outlets used expired ingredients. The Burger King restaurant in the southern city of Nanchang was criticized on an annual consumer protection program that in past years has highlighted complaints about foreign auto, smartphone and other brands. State media said regulators in Nanchang, Beijing, Shanghai and other areas ordered inspections of Burger King outlets.


CHICAGO (AP) – Self-proclaimed internet sleuths are matching up names of Wayfair’s products to those of missing children as part of a bizarre, baseless conspiracy theory that claims the retail giant is using storage cabinets to traffic children. Mentions of Wayfair and trafficking have exploded on Facebook, Instagram and TikTok over the past week. Even a national human trafficking hotline is suddenly taking calls from tipsters about the imagined scheme. Yet several of the people whom social media users claim were trafficked through the website are not even missing. Wayfair was forced to respond: “There is, of course, no truth to these claims.”


WASHINGTON (AP) – The federal ban on cruise ships operating in U.S. territory is being extended through September. The ban was due to expire next week, but the Centers for Disease Control and Prevention announced the extension on Thursday. The move comes as coronavirus cases are rising in 40 states. Florida, where many cruises start, just had a single-day record of deaths from COVID-19. The companies are trying to save cash and borrow more money to survive the pandemic. The order covers ships that can carry 250 or more passengers.



AP-WF-07-17-20 1035GMT