World stocks mixed…Postal reverse…More US-China flights?
UNDATED (AP) – World share prices were mixed today after the S&P 500 logged a fresh all-time high yesterday, with European indexes opening little changed and U.S. futures slightly lower. In early trading, Germany’s DAX was flat and the CAC 40 in Paris also was virtually unchanged. Britain’s FTSE 100 edged 0.2% higher. Hong Kong’s Hang Seng lost 0.9%. The Shanghai Composite index sank 1.2%. Japan’s Nikkei 225 index gained 0.3%. Dow futures are down 0.1% and S&P futures are flat.
WASHINGTON (AP) – President Donald Trump’s new postmaster general says he is halting some operational changes to mail delivery that critics blamed for widespread delays and warned could disrupt the November election. Postmaster General Louis DeJoy said he would “suspend” several of his initiatives – including the removal of the distinctive blue mailboxes – until after the election “to avoid even the appearance of impact on election mail.” DeJoy, who is set to testify Friday before the Senate, comes as more than 20 states, from New York to California, announced they would be suing to stop the changes.
CHARLOTTE, N.C. (AP) – A big political donor, his consultant and a former North Carolina congressman are receiving punishments for their roles in trying to bribe the state’s top insurance regulator. U.S. District Judge Max Cogburn scheduled sentencing today for insurance magnate Greg Lindberg, John Gray and former Rep. Robin Hayes. Federal prosecutors want Lindberg and Gray to receive long prison sentences. The defendants’ lawyers are seeking much less. Gray wants to serve any time at home. The U.S. attorneys are asking Hayes receive probation. Hayes pleaded guilty last year to lying to the FBI and agreed to cooperate with authorities.
COPENHAGEN, Denmark (AP) – The world’s biggest shipping company says its business dropped in the second quarter as the COVID-19 pandemic hurt global demand. Denmark’s A.P. Moller-Maersk says its revenue declined by 6.5% to $9 billion compared to the same quarter last year. Its profit fell to $443 million from $520 million for the same period last year. The CEO says the results are strong considering the economic conditions. But its full-year outlook contained “high uncertainties” and does not take into consideration a material second lockdown phase.”
WASHINGTON (AP) – The United States and China have agreed to let each other’s airlines operate more flights between the two countries. The deal announced Tuesday by the U.S. Transportation Department marks further easing of a standoff between the world’s two biggest economies over travel restrictions imposed during the pandemic. Each country’s airlines will be allowed to make eight round trips a week, up from the current four. United Airlines says it will add two more flights a week between San Francisco and Shanghai via Seoul, starting in September. The government says Delta Air Lines can also now make four weekly round trips to China.