Financial News

Raymond Edward Elliott
June 1, 2021
AP-NC Newswatch
June 2, 2021
Financial News


Global shares mixed…meat processing getting back to work


TOKYO (AP) – Global shares are mixed today after Wall Street reopened Tuesday from the Memorial Day holiday on a lackluster note. In early trading, France’s CAC 40 edged up 0.1%, while Germany’s DAX added nearly 0.2%. Britain’s FTSE 100 rose 0.3%. In Asian trading, Japan’s benchmark Nikkei 225 closed 0.5% higher, South Korea’s Kospi rose nearly 0.1%, Hong Kong’s Hang Seng lost 0.6% and the Shanghai Composite dropped 0.8%. Wall Street is expected to open mixed, with Dow futures inching up less than 0.1% and S&P 500 futures slipping nearly 0.1%.


CANBERRA, Australia (AP) – The world’s largest meat processing company is getting back to work after production around the world was disrupted by a cyberattack just weeks after a similar incident shut down a U.S. oil pipeline. Brazil’s JBS SA said late Tuesday that it had made “significant progress” in dealing with the cyberattack and expected the “vast majority” of its plants to be operating today. Australia’s agriculture minister said JBS plants in that country resumed limited operations today and more facilities were expected to resume production on Thursday. JBS is the second-largest producer of beef, pork and chicken in the U.S.


BEIJING (AP) – China’s chief economic envoy and Treasury Secretary Janet Yellen have held their first meeting by video but the two sides gave no indication when negotiations on ending their tariff war might resume. The Commerce Ministry says Vice Premier Liu He and Yellen discussed the economic situation, bilateral cooperation and other issues of mutual concern. President Joe Biden, who took office in January, has yet to say what approach he will take to the conflict launched by his predecessor Donald Trump, who raised tariffs on Chinese imports over complaints about Beijing’s industrial policy and trade surplus.


DUBAI, United Arab Emirates (AP) – Saudi Arabia’s key stock market briefly suspended trading over what it referred to as a technical glitch, restoring its services in about a half hour. Saudi state television reported the trades halting on Riyadh’s Tadawul in an urgent on-screen graphic, with an anchor saying officials were trying to fix the problem. Tadawul later today said trading had resumed. The Tadawul trades a sliver of the worth of the country’s oil giant, the Saudi Arabian Oil Co. Aramco is one of the world’s top-valued companies.


HONG KONG (AP) – Huawei is launching its own HarmonyOS mobile operating system on its handsets as it adapts to losing access to Google mobile services two years ago after the U.S. put the Chinese telecommunications company on a trade blacklist. Huawei is expected to announce the launch of HarmonyOS today on a range of devices, including smartphones and tablets. Huawei is still cut off from essential American technologies including Google’s mobile services and some computer chips needed to power its devices. Huawei was blacklisted by former President Donald Trump on security grounds and President Joe Biden has not changed those decisions. Analysts say that its HarmonyOS is unlikely to appeal to consumers outside China.