Financial News

William Evert Burchett
November 2, 2020
AP-NC Newswatch
November 3, 2020
Financial News

 

 

Global markets up…Jobless robots?

 

BEIJING (AP) – Global stock markets are up today. In early trading, the FTSE 100 in London rose 1.1% and the DAX in Frankfurt advanced 0.6%. The CAC 40 in France added 0.8%. In Asia, the Shanghai Composite Index rose 1.4% and the Hang Seng in Hong Kong added 2%. The Kospi in Seoul gained 1.9%. Wall Street is expected to open higher, with Dow and S&P futures up.

 

CANBERRA, Australia (AP) – Australia’s central bank has cut its benchmark interest rate by 0.15 of a percentage point to a record low 0.10% in a bid to lift the economy from a pandemic-induced recession. Today’s move is the first since March when the Reserve Bank of Australia board made two cuts of a quarter of a percentage point each two weeks apart.

 

HONG KONG (AP) – Hong Kong leader Carrie Lam is traveling to Beijing to meet with Chinese officials to seek help in reviving Hong Kong’s economy and discuss reopening the borders with mainland China as coronavirus infections in her city dwindle. Lam said before departing today that the meetings will include discussions on how Hong Kong can integrate into China’s national development, as well as how the semi-autonomous Chinese territory can cooperate with Shenzhen – a southern Chinese city that borders Hong Kong – as part of the Greater Bay Area integrated economic scheme. She also said she plans to discuss when Hong Kong and mainland China will be able to resume the flow of people across the border without quarantines.

 

WASHINGTON (AP) – Pilots at some U.S. airlines think the government can improve its proposal for pilot training on the Boeing 737 Max. That’s the plane that has been grounded since March 2019 after two crashes killed 346 people. The Federal Aviation Administration is getting close to letting the plane fly again. One of the last hurdles remaining is a new pilot-training program. Families of the victims of one of the crashes say FAA’s training proposal isn’t comprehensive enough. Boeing hopes FAA approves changes to the plane before year end.

 

NEW YORK (AP) – Walmart is laying off the robots it had deployed in about 500 stores to keep tabs on what’s on and not on the shelves. The retailer said Monday it has ended its relationship with startup Bossa Nova Robotics, which builds roving robots equipped with cameras for identifying out-of-stock and misplaced products. Walmart says it “worked with Bossa Nova for five years and the two firms learned a lot. It says it’s still testing other new technologies for tracking inventory and moving goods.

 

 

AP-WF-11-03-20 1154GMT