Global markets up…US-China telecom clash
BEIJING (AP) – Global stock markets rose today after the U.S. Federal Reserve said its key interest rate would be kept near zero through 2023. In early trading, the FTSE 100 in London advanced 0.1% and the DAX in Frankfurt rose 0.6%. The CAC 40 in Paris was 0.4% higher. In Asia, the Shanghai Composite Index closed 0.5% higher. The Nikkei in Tokyo advanced 1%. The Hang Seng in Hong Kong added 1.2% and the Kospi in Seoul advanced 0.6%. On Wall Street, Dow and S&P futures are higher.
LONDON (AP) – The world awaits a decision from Europe’s top medical agency into whether there is any evidence to show the AstraZeneca coronavirus vaccine is linked to a small number of blood clots reported in people across the continent. Earlier this week, more than a dozen countries including Germany, France, Spain and Italy suspended immunization using the AstraZeneca COVID-19 vaccine after reports of unusual blood clots in several people. The EMA previously said there is no evidence to suggest the vaccine was responsible and that the benefits of immunization far outweighed the small risk of getting vaccinated.
BEIJING (AP) – China’s government is calling on Washington to drop efforts to expel three state-owned Chinese phone companies from the United States in a new clash over technology and security. The Federal Communications Commission voted to begin revoking the companies’ U.S. licenses. It said they are security risks controlled by the communist Beijing government. The Chinese foreign ministry accused Washington of misusing security complaints to hurt commercial competitors. The decision adds to mounting U.S.-Chinese conflict over Beijing’s industrial plans, access to American technology and accusations of computer attacks and theft of business secrets.
HONG KONG (AP) – Chinese authorities have summoned 11 companies including Alibaba and Tencent for talks about security of voice technology. China’s internet watchdog, the Cyberspace Administration of China says today’s talks concerned security assessments of voice software, as well as deep-fake technology. The move comes as authorities in recent months have increased oversight over technology firms over concerns about anticompetitive behavior.
DUBAI, United Arab Emirates (AP) – Dubai-based port operator DP World says its profits slid 29% in 2020 from the previous year to $846 million, as the coronavirus pandemic froze supply chains and upended global trade flows. The port operator, which delisted from the stock exchange and returned to full state-ownership last June, remained cautiously optimistic in its 2020 financial report released today. DP World says its revenue in 2020 climbed 11% to $8.53 million, a rise it attributed to a year of acquisitions. DP World now operates in 61 countries along some of the world’s busiest shipping routes, from Brisbane, Australia, in the East to Prince Rupert, Canada, in the West.