Financial News

Lucy Tyner Caddell
September 25, 2020
AP-NC Newswatch
September 28, 2020
Financial News

 

 

Global shares higher…Trump’s $750 tax bill

 

TOKYO (AP) – Global shares were mostly higher today, ahead of the first U.S. presidential debate and a national holiday in China later in the week. In early trading, France’s CAC 40 rose 1.7%, while Germany’s DAX jumped 2.4%. Britain’s FTSE 100 added 1.4%. Japan’s Nikkei rose 1.3%, while South Korea’s Kospi added 1.3%. Hong Kong’s Hang Seng index rose 1.2%, while the Shanghai Composite index inched less than 0.1% lower. U.S. shares are set for gains, with Dow futures up 0.9% and S&P 500 futures up 0.9%.

 

NEW YORK (AP) – A federal judge has postponed a Trump administration order that would have banned the popular video sharing app TikTok from U.S. smartphone app stores around midnight last night. A more comprehensive ban is scheduled for November, about a week after the presidential election. The judge did not postpone that later ban. The ruling followed an emergency hearing Sunday morning in which lawyers for TikTok argued that the administration’s app-store ban would infringe on the company’s First Amendment rights and do irreparable harm to the business.

 

LONDON (AP) – Uber can keep operating in London after the ride-hailing company won a court appeal today against the refusal by transit regulators to renew its license. The U.S. company had challenged Transport for London’s decision in late 2019 not to renew its operating license over safety concerns involving imposter drivers. Deputy Chief Magistrate Tanweer Ikram wrote in his decision that he found the company to be “fit and proper” to hold a London operator’s license.” Uber was allowed to continue operating while the appeal was underway. Transport for London had decided two years ago to reject Uber’s application for a new license, citing several breaches that placed passengers at risk.

 

VANCOUVER, British Columbia (AP) – A senior executive for Chinese communications giant Huawei Technologies will be in a Canadian courtroom today, arguing her extradition to the U.S. should be halted because her rights have been violated. Canada arrested the daughter of Huawei’s founder and the company’s chief financial officer at Vancouver’s airport in late 2018. The U.S. wants Meng Wanzhou extradited to face fraud charges. Her arrest infuriated Beijing, which sees her case as a political move designed to prevent China’s rise. Meng’s defense team will argue the extradition proceedings should be halted because claim Canada Border Services Agency officers detained and questioned Meng without a lawyer.

 

 

AP-WF-09-28-20 1047GMT