Financial News

Wiley Drury Patrick
October 12, 2020
AP-NC Newswatch
October 13, 2020
Financial News



World stocks lower…Foreign bribery report


UNDATED (AP) – Stocks turned lower in Europe today after a mixed session in Asia as investors turned cautious over prospects for reining in a resurgence in coronavirus outbreaks. Britain’s FTSE 100 lost 0.3%, while in Germany the DAX gave up 0.4%. The CAC 40 in Paris fell 0.5%. Tokyo’s Nikkei closed 0.2% higher, while the Shanghai Composite index picked up less than 0.1%. South Korea’s Kospi was almost unchanged. Wall Street is expected to open lower, with Dow and S&P futures down.


LONDON (AP) – Unemployment across the U.K. rose sharply higher in August. That is a clear indication that the jobless rate is set to spike higher when a government salary-support scheme ends this month and new restrictions are imposed on local areas to suppress a resurgence of the coronavirus. The Office for National Statistics says unemployment rose by 138,000 in the three months to August from the previous three-month period. That saw the unemployment rate jump to 4.5%, from 4.1%. So far, Britain has been spared the sharp rises in unemployment seen in the United States because of a national salary support scheme that ends on Oct. 31.


BEIJING (AP) – China’s trade growth accelerated in September as the world’s second-largest economy recovered from the coronavirus pandemic. Customs data show that exports rose 9.9% to $239.8 billion, up from August’s 9.5% growth. Imports gained 13.2% to $202.8 billion, up from the previous month’s 2.1% contraction. Exporters have benefited from China’s relatively early reopening from shutdown to fight the virus and from strong global demand for masks and medical supplies. They have been taking market share from foreign competitors that are hampered by anti-disease controls.


NEW BRUNSWICK, N.J. (AP) – A late-stage study of Johnson & Johnson’s COVID-19 vaccine candidate has been paused while the company investigates whether a study participant’s “unexplained illness” is related to the shot. The company says that illnesses, accidents and other so-called adverse events “are an expected part of any clinical study. Citing the participant’s privacy, no details were released about the illness.


BERLIN (AP) – An anti-corruption watchdog ranks the United States and United Kingdom as the largest exporters most active at enforcing rules meant to prohibit companies from paying bribes in foreign markets, but says many others are doing next to nothing. Transparency International says that China, the world’s largest exporter, was found to conduct “little or no enforcement,” in a category that also includes India, Japan and Korea. Germany, the world’s third-largest exporter, only conducts “moderate enforcement,” as do other major exporters like France, Italy and Spain.



AP-WF-10-13-20 1035GMT