Financial News

Wednesday, October 7th
October 6, 2020
AP-NC Newswatch
October 7, 2020
Financial News



World shares mixed…Google, Oracle court clash


UNDATED (AP) – World shares are mixed after President Donald Trump ordered a stop to talks on another round of aid for the economy. In early trading in Europe, Britain’s FTSE slipped 0.2%, Germany’s DAX edged 0.1% lower and the CAC 40 in Paris gained 0.1%. In Asia, Hong Kong’s Hang Seng closed 1.1% higher. The Kospi in South Korea surged 0.9% and Japan’s Nikkei slipped 0.1%. Chinese markets are closed for a weeklong holiday. On Wall Street, Dow and S&P futures are up.


WASHINGTON (AP) – President Donald Trump has called an abrupt end to negotiations with Democrats over additional COVID-19 relief, delaying action until after the election despite ominous warnings from his own Federal Reserve chairman about the deteriorating conditions in the economy. Trump tweeted that House Speaker Nancy Pelosi was “not negotiating in good faith.” Hours later, Trump appeared to edge back a bit from his call to end negotiations. He took to Twitter again and called on Congress to send him a “Stand Alone Bill for Stimulus Checks ($1,200)” – a reference to a pre-election batch of direct payments to most


WASHINGTON (AP) – Tech giants Google and Oracle are about to clash at the Supreme Court in a copyright dispute that’s worth billions and important to the future of software development. The case before the justices today has to do with Google’s creation of the Android operating system now used on the vast majority of smartphones worldwide. Google says that to create Android, which was released in 2007, it wrote millions of lines of new computer code. But it also used 11,330 lines of code and an organization that’s part of Oracle’s Java platform. Google has defended its actions as common practice in the industry.


WASHINGTON (AP) – Democratic lawmakers are calling for Congress to rein in Big Tech, possibly forcing Facebook, Google, Amazon and Apple to break up their businesses, while making it harder for them to acquire others and imposing new rules to safeguard competition. The proposals in a report issued Tuesday follow an investigation by a House Judiciary Committee panel into the companies’ market dominance. The powerful industry that has come under intensifying scrutiny over issues of competition, consumer privacy and hate speech.


WASHINGTON (AP) – Microsoft says the Labor Department is scrutinizing its efforts to boost Black employment and leadership at the tech company. Microsoft disclosed in a blog post Tuesday that it received a letter from the agency last week asking about the company’s June pledge to double the number of Black and African American managers, senior individual contributors and senior leaders by 2025. Microsoft’s general counsel says the firm’s effort to improve opportunities “are not illegal race-based decisions.”



AP-WF-10-07-20 1044GMT