Financial News

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October 16, 2020
AP-NC Newswatch
October 19, 2020
Financial News

 

 

Asian shares up…Virus relief stalling…Brexit warning

 

UNDATED (AP) – Shares have advanced in Asia after China reported its economy grew at a 4.9% annual pace in the last quarter, as consumer spending and manufacturing recovered from the downturn earlier this year. Japan’s Nikkei 225 lead the gains, adding 1.1% on Monday. China was the first country to suffer coronavirus outbreaks and the first major economy to emerge from the pandemic and begin reopening from pandemic shutdowns. That’s providing a boost to other countries that rely heavily on trade with China.

 

TOKYO (AP) – Japan has reported its exports fell at a slower pace in September in a sign that trade damage from the coronavirus pandemic is easing. Finance Ministry data released Monday showed Japan’s exports in September declined 4.9% from the same month a year earlier, better than the nearly 15% drop in August. The nation’s imports fell 17.2% overall. Imports had fallen 20.8% in August. Recoveries in China and elsewhere in Asia are helping to revive demand and enliven Japan’s economy.

 

WASHINGTON (AP) – New virus relief will have to wait until after the November election. Congress is past the point at which it can deliver more coronavirus aid soon, with differences between House Speaker Nancy Pelosi, Senate Republicans and President Donald Trump proving insurmountable. Trump’s Republican allies are reconvening the Senate this week to vote on a virus proposal, but it’s a bill that failed once before, and that Trump himself now derides as too puny.

 

NEW YORK (AP) – Twitter has blocked a post from an adviser to President Donald Trump who suggested that masks do not work to stop the spread of coronavirus. Scott Atlas joined the White House in August as a science adviser. He had tweeted “Masks work? NO.” The post said widespread use of masks is not supported. It was blocked Sunday. A Twitter spokesperson says the tweet violated a company policy that prohibits sharing false or misleading misinformation about COVID-19. In such cases, Twitter disables the account until its owner deletes the post in question.

 

LONDON (AP) – The U.K.’s most senior Anglican bishops have warned that legislation breaching part of the Brexit divorce agreement the government signed with the European Union will set a “disastrous precedent” and could undermine peace in Northern Ireland. Top archbishops from England, Scotland, Wales and Northern Ireland condemned the Internal Market Bill in a letter published in the Financial Times. They say the bill “has enormous moral, as well as political and legal, consequences.” The bill has been approved by the House of Commons and begins its passage through the House of Lords on Monday.

 

 

AP-WF-10-19-20 1030GMT