Financial News

Robert “Bob” A. Hanks, Jr.
October 26, 2020
AP-NC Newswatch
October 27, 2020
Financial News



Shares fall…European infections rise…Utility fire?


UNDATED (AP) – Shares have fallen in Asia after surging coronavirus cases and waning hopes for U.S. economic stimulus gave Wall Street its worst day in a month. Shares declined Tuesday in Tokyo, Shanghai, Hong Kong and Sydney. Shares were flat in South Korea, where economic growth data were slightly better than expected. Overnight, the S&P fell 1.9%, deepening its losses from last week. Stocks of companies worst hit by the pandemic logged some of the biggest losses. Cruise lines, airlines and energy stocks tumbled in tandem with crude oil prices.


BERLIN (AP) – A second German district has gone into a de-facto lockdown as new coronavirus infections surge in the country and across Europe. The restrictions in Bavaria’s Rottal-Inn county, on the border with Austria, began Tuesday. On Tuesday, the country’s national disease control center reported 11,409 new infections. Another 42 people died, bringing the country’s overall virus death toll to 10,098. Chancellor Angela Merkel will meet with the state governors Wednesday and the government is likely to introduce further restrictions.


TAIPEI, Taiwan (AP) – Taiwan says recently proposed purchases of U.S. missiles and other arms systems will boost the island’s ability to credibly defend itself amid rising threats from China. The comments from a defense ministry spokesperson came after China said it would exact unspecified retaliation against companies that make weapons sold to Taiwan. The Trump administration also has notified Congress of plans for a sale of Harpoon missile systems to Taiwan. Companies facing potential sanctions include Lockheed Martin, Raytheon and Boeing’s defense division.


LOS ANGELES (AP) – Southern California Edison says its equipment may have sparked a Southern California wildfire that has prompted evacuation orders for more than 90,000 people and critically injured two firefighters. Edison filed a report with the state Public Utilities Commission that says a “lashing wire” may have struck a conductor in the area where the fire broke out Monday. That blaze and a smaller one nearby prompted evacuation orders in Irvine and other Orange County communities.


UNDATED (AP) -The Dunkin’ doughnuts and coffee chain has confirmed it’s held talks to be taken private by a private equity firm, sending its shares rocketing to an all-time high. Dunkin’ Brands Group said it’s in preliminary discussions with Inspire Brands, which also owns Arby’s and Jimmy John’s Sandwiches. Dunkin’ said it is not yet certain a deal would be reached and would not comment further. Dunkin’, based in Canton, Massachusetts, also owns the Baskin-Robbins ice cream chain. There are 13,000 Dunkin’ stores and 8,000 Baskin-Robbins outlets worldwide.



AP-WF-10-27-20 1032GMT