Global stocks tumble…Japan’s new PM talks with Trump
BEIJING (AP) – Global stock markets tumbled today after Wall Street fell for a third straight week. In early trading today, the FTSE 100 in London tumbled 2.9%, Frankfurt’s DAX sank 2.6% and the CAC 40 in Paris lost 2.6%. In Asia, the Shanghai Composite Index lost 0.6% and the Hang Seng in Hong Kong shed 2.1%. The Kospi in Seoul was 1% lower. On Wall Street, Dow and S&P futures were off 0.5%.
TOKYO (AP) – Japan’s Prime Minister Yoshihide Suga held his first talks with U.S. President Donald Trump since he took office, a diplomatic phone call that was one of his first as the country’s leader and one that highlights the close tie between the two allies. Suga was elected as Japan’s new prime minister last Wednesday, replacing Shinzo Abe, who forged close personal ties and regularly held meetings and phone calls with Trump. Abe stepped down due to ill health after nearly eight years in office. Suga said he told Trump “the Japan-U.S. alliance is the foundation of regional peace and stability, and we agreed to continue to coordinate closely.”
TEHRAN, Iran (AP) – Iran’s president has dismissed U.S. efforts to restore all U.N. sanctions on his country, as mounting economic pressure from Washington pushed the local currency down to its lowest level ever. Iran’s currency dropped to 272,500 to the U.S. dollar on Sunday at money exchange shops across Tehran. The rial has lost more than 30% of its value to the dollar since June. Sweeping U.S. sanctions on Iran continue to crush its ability to sell oil globally. The U.S. move to try and restore U.N. sanctions has been rejected as illegal by most of the rest of the world, including other Security Council nations.
DUBAI, United Arab Emirates (AP) – Film agencies in Israel and the United Arab Emirates have announced an agreement to collaborate on television production. It’s the latest development to follow a U.S.-brokered deal between the countries to normalize relations. The Abu Dhabi Film Commission reached an understanding today with the Israeli Film Fund and a Jerusalem film school, seeking to strengthen commercial ties through training programs for film and television co-production and joint film festivals. The United Arab Emirates, along with the Gulf state of Bahrain, signed historic agreements to establish full diplomatic ties with Israel at a White House ceremony last week.
RENO, Nev. (AP) – State and federal authorities are investigating the mysterious loss of a significant swath of a rare desert wildflower that’s being considered for federal protection at a contentious mine site in Nevada. The Australian mining company, Ioneer Ltd., and state biologists are investigating the unprecedented incident 200 miles southeast of Reno. They believe small mammals most likely caused the damage to thousands of plants at the only place Tiehm’s buckwheat is known to exist on earth. Conservationists suspect somebody dug up as many as 17,000 plants.