Financial News

Betty Lou Lewis
May 27, 2021
AP-NC Newswatch
May 28, 2021
Financial News


World shares higher…Senate eyes tech bill


BANGKOK (AP) – World shares are up today, powered by encouraging signs that the U.S. economic recovery from the pandemic is gaining momentum. In early trading, Germany’s DAX added 0.4% and the CAC 40 in Paris also added 0.4%. In London, the FTSE 100 picked up 0.4%. In Asian trading, Tokyo closed 2.1% higher, while the Hang Seng in Hong Kong gained less than 0.1%. In Seoul, the Kospi jumped 0.7%. The Shanghai Composite index shed 0.2%. On Wall Street, Dow and S&P 500 futures are higher.


WASHINGTON (AP) – The Senate is set to approve a big innovation bill aimed at making the U.S. more competitive with China and other countries. The measure slogging through Congress includes $50 billion in emergency funds to shore up domestic computer chip manufacturing amid a shortfall that’s hit businesses across a range of industries. Senators had been expected to vote late Thursday, but proceedings came to a standstill when Republican Sen. Ron Johnson of Wisconsin protested the rush to finish and insisted on more changes. A few other Republicans joined him.


WASHINGTON (AP) – President Joe Biden is warning naysayers in Congress not to “get in the way” of his big infrastructure plans. And the White House is panning a counteroffer from Republican senators to tap unused COVID-19 relief for a more modest investment in roads, highways and other traditional public works projects. Biden was in Cleveland on Thursday touring a manufacturing technology center at a community college. After his visit, he held up a card with the names of Republicans lawmakers who had rejected his coronavirus aid bill in Washington but later promoted its assistance when they were back home. Biden is warning them not to play similar games as he pushes this next legislative priority in Congress.


BOSTON (AP) – Microsoft says the state-backed Russian cyber spies behind the SolarWinds hacking campaign launched a targeted spear-phishing assault on U.S. and foreign government agencies and think tanks this week. It says they did so by gaining access to an email marketing account of the U.S. Agency for International Development and masquerading as the government body. Microsoft did not say how many of the attempts may have led to successful intrusions.


HONG KONG (AP) – JD Logistics Inc.’s shares have jumped 14% in their trading debut in Hong Kong. The company is a subsidiary of Chinese e-commerce giant and is the latest technology company to list in the semi-autonomous Chinese city as Beijing intensifies scrutiny of the technology sector. The firm raised $3.1 billion in its initial public offering. That’s the second largest for this year after short-video firm Kuaishou raised $5.3 billion. Beijing recently has cracked down on China’s thriving internet industry, seeking to exert more control and curb anti-competitive behavior