Financial News

Friday, November 13th
November 12, 2020
AP-NC Newswatch
November 13, 2020
Financial News

 

 

Global shares mostly lower…CEOs concerned

 

TOKYO (AP) – Global shares are mostly lower as rising cases of coronavirus infections in the U.S., Europe and Asia add to worries that economies will once again be hamstrung by pandemic restrictions on travel and businesses. Benchmarks in Europe fell in early morning trading. Shares in Japan, Australia and China finished lower. But U.S. shares are set for gains, with Dow futures up 0.5% at 29,143 and S&P 500 futures up 0.6% at 3,555.25.

 

WASHINGTON (AP) – About two dozen CEOs of major U.S. corporations attended a video conference on Nov. 6 to talk about what collective action they could take if they see an imminent threat to democracy in President Donald Trump’s refusal to accept his election loss. Yale University Leadership Professor Jeffrey Sonnenfeld says the CEOs agreed Trump has the right to make legal challenges alleging election fraud. But if he refuses to leave office or takes other steps to stay in power, the CEOs say they will act. Such actions would include public statements and pressuring legislators in their home states to follow the legal process of transferring power.

 

BEIJING (AP) – President Donald Trump has stepped up a conflict with China over security and technology by issuing an order barring Americans from investing in companies that U.S. officials say are owned or controlled by the Chinese military. The order’s impact wasn’t immediately clear but it could add to pressure on companies including telecom equipment giant Huawei and video surveillance provider Hikvision that already face U.S. export bans and other sanctions.

 

TOKYO (AP) – A civil court trial has begun in Japan over Nissan’s demand for 10 billion yen, or $95 million, in damages from its former chairman, Carlos Ghosn. The automaker sued Ghosn over what it says is harm suffered from various types of alleged financial misconduct. Ghosn jumped bail late last year while awaiting a separate criminal trial in Japan. He says in a statement today from Lebanon that the latest trial will prove his innocence. Nissan says it’s confident its allegations of Ghosn’s misconduct will become clear in the trial.

 

COPENHAGEN, Denmark (AP) – The cooperative that sells nearly half of Denmark’s mink furs, will gradually shut down over the next two to three years after the government ordered the culling of millions of animals raised in farms. Denmark is culling all 15 million minks in Danish farms to fight an outbreak of COVID-19 among the animals and staff. The CEO of the largest cooperative of mink farms says the decision to cull puts the Danish mink industry “in an extreme and unusually difficult situation.” Denmark is the world’s biggest exporter of furs.

 

 

AP-WF-11-13-20 1136GMT