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Global stock markets higher…Getting out of Marco’s way

 

Eds: CORRECTS: Fixes typo in headline.
BEIJING (AP) – Global stock markets rose today after Wall Street hit a new high last week despite lingering unease about a possible new wave of coronavirus infections. In early trading, the FTSE 100 in London gained 1.5% while Frankfurt’s DAX added 1.6%. The CAC 40 in Paris advanced 1.7%. In Asia, the Shanghai Composite Index closed 02.% higher and the the Nikkei in Tokyo added 0.3%. The Hang Seng in Hong Kong advanced 1.7% and the Kospi in Seoul was 1.1% higher. On Wall Street, futures for the S&P 500 and the Dow Jones Industrial Average were up 0.6%.

 

UNDATED (AP) – Energy companies are removing workers from more than 100 oil and gas production platforms in the Gulf of Mexico as Hurricane Marco and Tropical Storm Laura churn toward the Louisiana coast. The Interior Department said Sunday that the evacuations have caused 58% of Gulf oil production and 45% of natural gas output in the Gulf to be shut down. Such shutdowns are normally temporary as long as platforms are not seriously damaged, and experts say we’re unlikely to see prices spike as a result. The Gulf accounts for a bit under one-fifth of all U.S. oil production.

 

TAPEI, Taiwan – Taiwan is ordering China’s Alibaba Group to dispose of its stake in a local e-commerce platform, citing a risk that users’ personal information might be transferred to the mainland. The order adds to mounting pressure on Chinese companies in the United States and other countries over security concerns. Taiwan and China split in 1949 during a civil war. They have no official relations but have thriving trade and investment ties. Taiwan closely watches those links to try to avoid being dominated by its giant neighbor, which has threatened to invade the island. The e-commerce platform, Taobao Taiwan, is operated by a British company but the Taiwan government said Alibaba’s ownership stake in that venture improperly allows it to control the site.

 

TOKYO (AP) – Takeda Pharmaceutical Co. is selling its subsidiary in Japan focused on consumer healthcare to U.S. investment fund Blackstone Group. The deal is valued at $2.3 billion, although the exact price will be determined later, after adjustments for debt and capital of the subsidiary, Takeda Consumer Healthcare Co. Takeda wants to focus on specialized areas, such as disorders of the digestive system, rare diseases, plasma-derived therapies and the prevention and treatment of cancer. The subsidiary, spun off in 2017, sells drugs popular in Japan.

 

TOKYO (AP) – Takeda Pharmaceutical Co. is selling its subsidiary in Japan focused on consumer healthcare to U.S. investment fund Blackstone Group. The deal is valued at $2.3 billion, although the exact price will be determined later, after adjustments for debt and capital of the subsidiary, Takeda Consumer Healthcare Co. Takeda wants to focus on specialized areas, such as disorders of the digestive system, rare diseases, plasma-derived therapies and the prevention and treatment of cancer. The subsidiary, spun off in 2017, sells drugs popular in Japan.

 

 

AP-WF-08-24-20 1048GMT