Global shares higher…European economic rebound slows
TOKYO (AP) – Global shares were mostly higher today on hopes for a coronavirus vaccine, although worries remained about long-term economic damage from the pandemic. In early trading, France’s CAC 40 edged up 0.2%, while Germany’s DAX gained 0.3%. Britain’s FTSE 100 edged down 0.3%. In Asia, Japan’s Nikkei closed 0.2% higher. South Korea’s Kospi edged up 1.3%. Hong Kong’s Hang Seng added 1.3%, while the Shanghai Composite rose 0.5%. On Wall Street Dow and S&P futures are slightly lower.
TIERRA DEL MAR, Ore. (AP) – Facebook’s effort to build a landing site in a village on the Oregon coast for a fiber optic cable linking Asia and North America has run into serious trouble. First, a drill pipe snapped under the seabed. Workers left 1,100 feet of pipe, 6,500 gallons of drilling fluid, a drill tip and other materials under the seabed as they closed down the site, aiming to try again next year. And then the Facebook subsidiary waited seven weeks before telling state officials about the abandoned equipment, according to the Oregon Department of State Lands. Homeowners in Tierra del Mar are furious as are political leaders.
WASHINGTON (AP) – The CEO and president of Goodyear Tire and Rubber Co. says they will allow employees to wear attire supporting law enforcement, though the company will continue to ask them not to express support for any political candidates while on the job. President Donald Trump on Wednesday urged supporters to boycott Goodyear tires, tweeting that the Ohio-based company had “announced a BAN ON MAGA HATS.”
LONDON (AP) – The European economy’s rebound from coronavirus lockdowns slowed in August, suggesting the reopening of businesses is proceeding slowly and the outlook for jobs is precarious. An indicator of business activity by research firm IHS Markit fell back to a level that suggests the economy is barely growing after a relatively strong burst in July. Many countries last month had phased out the restrictions on public life that had been imposed in the spring to contain the pandemic. The economy’s drop in momentum coincides with a new rise in confirmed virus cases that has forced some governments to put limits on travel and to order lockdown restrictions.
CANBERRA (AP) – A newspaper reports a Chinese mining company in Papua New Guinea claims to have immunized employees against COVID-19 in an apparent vaccination trial. The Australian newspaper reported Papua New Guinea’s health department is investigating the claim by Ramu NiCo Management. Papua New Guinea has not approved any vaccine trials. It says any vaccine imported into the country must be approved by PNG’s health authorities and must be pre-qualified by the World Health Organization.