Financial News

Wednesday, November 18th
November 17, 2020
AP-NC Newswatch
November 18, 2020
Financial News



Global stocks mixed…FAA could clear Boeing’s 737 Max


Eds: EDITS: Adds dateline to first item.
BEIJING (AP) – Global stock markets have been mixed today after Wall Street declined yesterday as hopes for a possible coronavirus vaccine were tempered by worries about the pandemic’s continuing impact. In early European trading, the FTSE 100 in London lost 0.5% and the DAX in Frankfurt shed 0.9%. The CAC 40 in Paris declined 0.6%. Earlier, stocks in Shanghai, Hong Kong and Sydney advanced. On Wall Street, Dow and A&P futures are off 0.2%.


UNDATED (AP) – The Federal Aviation Administration is expected today to clear Boeing’s 737 Max to fly again after grounding the jet for nearly two years following two crashes that killed 346 people. The move comes after the FAA was criticized for being too lax in regulating Boeing. American is the only U.S. airline so far to put the Max back in its schedule, starting Dec. 29.


BEIJING (AP) – China’s government is defending anti-coronavirus controls that have disrupted imports of beef, poultry and fish from the United States, New Zealand and other trading partners. Customs officials who say the coronavirus has been found on frozen meat and on packaging have imposed suspensions on suppliers. That prompted complaints by China’s trading partners. A foreign ministry spokesman says the controls are “reasonable and justifiable” and are meant to protect public health.


COPENHAGEN, Denmark (AP) – The world’s biggest shipping company, Denmark’s A.P. Moller-Maersk, says that global container volumes increased by around 1% in the third quarter, a faster rebound than expected earlier in the year. However, the global demand for containers is expected to contract by 4-5% this year due to COVID-19. The company says its third quarter revenue decreased by 1.4% to $9.9billion. Its profit rose to $947 million from $520 million during the same period a year earlier.


MILAN (AP) – After a one-month reprieve, passenger car sales in Europe slumped again in October amid new restrictions in many countries aimed at containing a resurgence of the coronavirus. The European carmakers’ association says the region’s industry registered 953,616 new cars last month, a decrease of 7.8%. That is a reversal of fortunes after September marked the first increase of the year. Demand dropped by 21% in Spain, 9.5% in France and 3.6% in Germany. Year-to-date, sales are down nearly 27% from last year at 8 million passenger cars.



AP-WF-11-18-20 1134GMT