Financial News

Friday, December 11th
December 10, 2020
AP-NC Newswatch
December 10, 2020
Financial News

 

 

World markets mixed…Census releases household income stats

 

UNDATED (AP) – World markets are mixed after weakness in technology companies’ shares led a decline on Wall Street on Wednesday. In early trading today, Britain’s FTSE 100 rose 0.4% while the DAX in Germany edged 0.1% higher. France’s CAC 40 gained 0.3%. In Asia, the Shanghai Composite closed less than 0.1% higher, Hong Kong’s Hang Seng index slipped 0.4% and the Nikkei in Tokyo gave up 0.2%. In South Korea, the Kospi shed 0.3%. On Wall Street, S&P futures are down less than 0.1% and Dow futures are nearly unchanged.

 

BEIJING (AP) – China says it is imposing restrictions on travel to Hong Kong by some U.S. officials and others in retaliation for similar measures imposed on Chinese individuals by Washington. A Foreign Ministry spokesperson says U.S. diplomatic passport holders visiting Hong Kong and nearby Macao will temporarily no longer receive visa-free entry privileges. She says U.S. officials, congressional staffers, employees of non-governmental organizations and their immediate family members will face “reciprocal sanctions.” The U.S. has barred certain Chinese and Hong Kong officials from traveling to the U.S. or having dealings with the U.S. financial system over their roles in enforcing a sweeping National Security Law passed this summer that ushered in a crackdown on free speech in Hong Kong.

 

BEIJNIG (AP) – China’s government has imposed additional import taxes on wine from Australia. It’s stepping up pressure on its government amid a bitter diplomatic conflict over the coronavirus, territorial disputes and other irritants. The Chinese Ministry of Commerce says an investigation concluded that Australia improperly subsidizes wine exports, hurting Chinese producers. The ministry imposed a countervailing tax of 6.3% to 6.4%. China, Australia’s biggest export market, already has effectively blocked imports of Australian wine by imposing taxes of more than 200%.

 

LONDON (AP) – Britain’s foreign minister says negotiations on a trade deal with the European Union will reach a “moment of finality” this weekend, with both sides assessing chances of an agreement as slim. Foreign Secretary Dominic Raab says the Sunday deadline set by Britain and the EU for a decision is final. But he says “you can never say never entirely.” The European Commission president Britain’s prime minister met Wednesday in hope of unblocking stalled talks, but came away saying big gaps remained.

 

ORLANDO, Florida (AP) – Asian American households saw the biggest income growth of any racial or ethnic group in the United States over the past decade and a half – almost 8%. Figures released today by the U.S. Census Bureau also show that household income for Latinos grew by almost 6% over that time. Households led by non-Hispanic whites and Blacks had more stagnant income growth over the past decade and a half, respectively 3% and almost 2%.