World shares mixed…Coronavirus aid pkg negotiations
BEIJING (AP) – World shares were mixed today after U.S. stocks advanced Monday. The price of gold retreated after surging to nearly $1,975 per ounce. In early trading, Germany’s DAX gained 0.5% and the CAC 40 in Paris edged 0.1% lower. Britain’s FTSE 100 added 0.3%. In Asia, share prices ended mixed, with Tokyo’s Nikkei down 0.3%. The Hang Seng in Hong Kong added 0.6%. The Shanghai Composite index surged 0.7% and South Korea’s Kospi picked up 1.8%. Wall Street looks set for a languid start, with Dow futures virtually unchanged and S&P futures up 1 point.
WASHINGTON (AP) – Unemployment assistance, eviction protections and other relief for millions of Americans are at stake as White House officials launch negotiations with House Speaker Nancy Pelosi on a new coronavirus aid package. Senate Republicans have been struggling to roll out their own $1 trillion proposal. Pelosi implored the White House and GOP lawmakers to stop the infighting and come to the negotiating table with Democrats. Aid runs out Friday for a $600 weekly jobless benefit that Democrats call a lifeline for out-of-work Americans. Republican want to slash it to $200 a week, saying that the federal bump is too generous on top of state benefits.
PARIS (AP) – The maker of Peugeot and Citroen cars says it made a profit in the first six months of the year even as the coronavirus pandemic caused a deep drop in sales. PSA Group, which is in the process of merging with Fiat Chrysler Automobiles, says its first-half profits fell to 595 million euros ($696 million) from 1.83 billion euros a year earlier. Sales dropped 35%, to 25.1 billion euros. Sales rebounded in July as showrooms reopened from the pandemic lockdown. The company says, however, that the future of the industry is highly uncertain and depends on developments regarding the pandemic, which is showing signs of worsening again in some countries.
BOSTON (AP) – The GPS device maker Garmin has acknowledged being victimized by a cyberattack last week that encrypted some of its systems, knocking its fitness tracking and pilot navigation services offline. It says systems would be fully restored in the next few days. In an online statement, the company did not specify that it was the target of a ransomware attack, in which hackers infiltrate a company’s network and use encryption to scramble data until payment is received.
UNDATED (AP) – The Oprah Magazine, O, is ending its regular monthly print editions with the December 2020 issue after 20 years of publication. A Hearst spokeswoman said the brand, which is among the most recognizable magazines in the U.S., is not going away but will become more “more digitally-centric,” Oprah Winfrey launched O with Hearst in 2000 and today is the editorial director and says she looks forward to the next step in O’s evolution. Hearst declined to answer why it was dropping the regular print edition, saying only it was a “natural next step” for the brand. Magazines have been trying to grow their digital properties as print advertising shrinks and people spend more time online.