World markets mixed…Panel report blasts Boeing
UNDATED (AP) – World markets are mixed ahead of the Federal Reserve’s policy announcement today. In early trading, Germany’s DAX was less than 0.1% higher while the CAC 40 in France was flat. The FTSE 100 in Britain edged 0.1% lower. In Asia, Tokyo’s Nikkei closed 0.1% higher while the Hang Seng in Hong Kong was almost unchanged. Korea’s Kospi gave up 0.3% and the Shanghai Composite index slipped 0.4%. On Wall Street, Dow and S&P futures both gained 0.2%.
UNDATED (AP) – A House committee is questioning whether Boeing and the Federal Aviation Administration will be willing to make big changes needed to fix problems that caused two deadly 737 Max jet crashes. Staff members from the Transportation Committee blamed the crashes that killed 346 people on failed government oversight, design flaws and a lack of action at Boeing despite knowing about problems. The committee said the Max complied with FAA safety regulations even though the planes crashed in Indonesia and Ethiopia. Members say this shows a need for reforms. Boeing says it’s made changes and it cooperated with House investigators. A message was left seeking comment from the FAA.
BRUSSELS (AP) – The president of the European Commission says the United Kingdom cannot unilaterally change the EU-UK bilateral withdrawal agreement without destroying global trust in the country. Insisting that chances for a future trade deal are slipping away by the day, Ursula von der Leyen told the EU’s legislature today that plans by British Prime Minister Boris Johnson to renege on parts of the withdrawal agreement signed by both of them dims those hopes even further. Von der Leyen says Britain is throwing its good name to the wind by not respecting a deal it signed and approved last December.
MITO, Japan (AP) – Japan’s trade surplus widened in August as the pandemic pummeled a wide array of industries and sapped consumer demand. The 15% drop in exports from a year earlier was outpaced by a more than 20% decline in imports. In one rare bright spot, exports to China rose 5%, but both exports and imports with the U.S. fell more than 20%. Trade in most categories of products declined in August, with exports of transport equipment such as vehicles falling 23%. Helping to boost the trade surplus, imports of oil, gas and other fuels plunged 45%.
WASHINGTON (AP) – A top Senate Republican says conservative economist Judy Shelton does not have the votes to be confirmed to one of two vacancies on the Federal Reserve board. Sen. John Thune of South Dakota, who holds the No. 2 spot in the Senate Republican leadership, said Shelton’s nomination will not be brought up until the votes are there. Democrats contend that her views are too far out of the mainstream to make her a credible choice for the seven-member Fed board, which currently has two vacancies.