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June 4, 2021
Financial News



Stocks mostly down…more restrictions on investing in China


TOKYO (AP) – Global shares are mostly lower today ahead of the release of a U.S. monthly jobs report that is viewed as a bellwether for the recovery from the pandemic. In early trading, France’s CAC 40 lost nearly 0.1%, while Germany’s DAX lost less than 0.1%. Britain’s FTSE 100 slipped nearly 0.2%. In Asian trading, Japan’s benchmark Nikkei 225 closed 0.4% lower, South Korea’s Kospi lost 0.2%, Hong Kong’s Hang Seng fell 0.2% and the Shanghai Composite erased earlier losses, edging 0.2% higher. On Wall Street, S&P 500 futures are unchanged and Dow futures are down 0.1%.


WASHINGTON (AP) – House Democrats are weighing in on the infrastructure negotiations between President Joe Biden and Senate Republicans. They are calling for a public works boost that would dedicate about $547 billion over five years to roads, public transit systems and rail programs. The proposal from the Democratic chairman of the House Transportation committee comes during a key moment of the infrastructure debate, as the White House signals its desire to start wrapping up negotiations. Biden is expected to hold another round of talks today with the lead Senate Republican negotiator on the issue, Sen. Shelley Moore Capito of West Virginia.


UNDATED (AP) – President Joe Biden has nearly doubled the list of Chinese companies whose shares are off-limits to U.S. investors. The executive order issued late Thursday says it is intended to “solidify and strengthen” an order issued last year by his predecessor Donald Trump by strengthening controls on investments in Chinese defense and surveillance technology firms. That includes companies that contribute to surveillance of religious and ethnic minorities or to repression and “serious human rights abuses.” Telecoms equipment maker Huawei Technologies, China’s big state-owned telecoms companies and China National Offshore Oil Corp. are on the new list of 59 companies. The earlier list included 31.


LONDON (AP) – Britain’s Treasury chief says he’s optimistic the world’s richest countries will agree on a plan to tax internet companies and other multinationals on their global profits. Finance ministers from the Group of Seven leading industrialized nations are meeting in London amid growing support for a global minimum corporate tax, which is backed by U.S President Joe Biden. An endorsement from the G-7 could help build support for a deal in talks among more than 140 countries being held in Paris. Rishi Sunak says he’s anticipating “concrete outcomes” this weekend.” The meeting prepares the way for a June 11-13 summit of G-7 heads of state and government hosted by British Prime Minister Boris Johnson in Carbis Bay, Cornwall.


UNDATED (AP) – France is putting itself back on the menu as a destination for international tourists who have had coronavirus jabs. The relaxed rules will kick in from Wednesday, offering a boost for France’s tourism sector. Tourism will still not be possible from countries wrestling with virus surges and worrisome variants, including India, South Africa and Brazil. Vaccinated visitors from the United States, Britain and many other parts of the world will no longer need to quarantine on arrival and will no longer have to justify the reasons for their visit. They will, however, be asked for a recent negative test. Vaccinated visitors from Europe will no longer need to undergo testing.