Global shares mostly higher…Transition funds OK’d
TOKYO (AP) – Global shares are mostly higher today, encouraged by news on the development of coronavirus vaccines and more assurance of a transition of power in the U.S. to President-elect Joe Biden. In early trading, France’s CAC 40 added 1.0%, while Germany’s DAX rose 0.6%. Britain’s FTSE 100 was up 0.6%. Japan’s Nikkei closed 2.5% higher, South Korea’s Kospi added 0.6%, Hong Kong’s Hang Seng edged up 0.4% and the Shanghai Composite slipped 0.3%. Dow and S&P futures are higher.
WASHINGTON (AP) – The head of the federal General Services Administration has acknowledged that President-elect Joe Biden is the apparent winner of this month’s presidential election. That allows the incoming president to coordinate with federal agencies on plans for taking over on Jan. 20. Among other things, the government will now release $6.3 million to Biden’s transition team and 175,000 square feet of federal office space.
UNDATED (AP) – Despite emphatic warnings from public health authorities to stay home for Thanksgiving, millions of Americans are crowding the nation’s airports ahead of the holiday, many of them unwilling to miss out on seeing family and convinced they can do it safely. More than 3 million people were screened at U.S. airports on Friday and Saturday, according to the Transportation Security Administration. That is the busiest stretch of air travel since mid-March.
SYDNEY (AP) – The boss of Australia’s largest airline says that once a coronavirus vaccine becomes widely available, it may require passengers to get the vaccine before they can travel abroad on its airlines. Qantas Chief Executive Alan Joyce told Australia’s Network Nine television he has been talking to his counterparts at other airlines around the world about the possibility of a “vaccination passport” for overseas travelers.
LONDON (AP) – British telecom companies face hefty fines if they don’t comply with strict new security rules under a new law proposed to Parliament today. The new law will be used to block high-risk networking equipment suppliers like China’s Huawei. The bill tightens security requirements for new high speed 5G wireless and fiber optic networks. It paves the way for the U.K. government to formalize into law Prime Minister Boris Johnson’s decision in July prohibiting Huawei from building Britain’s 5G mobile phone networks because of security concerns, which was a reversal of an earlier plan to give the company a limited role.