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November 24, 2020
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November 25, 2020
Financial News

 

 

Global shares mostly higher…Is RadioShack back?

 

TOKYO (AP) – Global shares are mostly higher after the Dow Jones Industrial Average on Tuesday closed above 30,000 points for the first time. In early trading, France’s CAC 40 gained 0.2%, while Germany’s DAX added nearly 0.2%. Britain’s FTSE 100 edged up 0.5%. In Asia, Japan’s Nikkei closed up 0.5%, South Korea’s Kospi lost 0.6%. Hong Kong’s Hang Seng rose 0.3%, while the Shanghai Composite dipped 1.2%. Dow and S&P futures are higher.

 

BEIJING (AP) – Chinese officials say the country is stepping up virus inspections on imported food packaging as cooler weather brings new waves of coronavirus infections in several overseas countries. An official of the National Food Safety Risk Assessment Center says packaging is “not exempt” from carrying the virus. She says only a tiny percentage of packages have tested positive for the coronavirus, but that the proportion is increasing with the number of tests being conducted. She says the virus could “to some extent” be passed to humans from packaging, but did not mention any confirmed cases.

 

BEIJING (AP) – China is accusing Britain of improperly attacking Chinese tech companies after the British government proposed a law to block market access to telecom equipment giant Huawei and other vendors that are deemed high-risk. The foreign ministry gave no indication whether Beijing might retaliate if the law is approved. It would tighten security requirements for next-generation wireless and optical fiber networks and fine violators. The Trump administration is lobbying European and other allies to avoid Huawei and other Chinese vendors as they upgrade telecom networks. Washington says Huawei, China’s first global tech brand, is a security risk, which the company denies.

 

BRUSSELS (AP) – The European Union is committing to be “creative” in the final stages of the Brexit trade negotiations but warns that whatever deal emerges, the United Kingdom will be reduced to “just a valued partner,” far removed from its former membership status. EU Commission chief Ursula von der Leyen says “genuine progress” has been made on several issues. And she says that on the divisive issues of fisheries, governance of any deal and the standards the U.K. must meet to export into the EU, the bloc is “ready to be creative, but we are not ready to put into question the integrity of the single market.”

 

SILVER SPRING, Md. (AP) – RadioShack has been pulled from brink of death, again. It’s the most prized name in the basket of brands that entrepreneur investors Alex Mehr and Tai Lopez have scooped up since the coronavirus pandemic bowled over the U.S. retail sector. Mehr and Lopez plan to make RadioShack a competitive again, this time online. They hope to have RadioShack.com open for business by the end of the month.

 

 

AP-WF-11-25-20 1147GMT