Financial News

Ruby Kathrine Miller
June 9, 2021
AP-NC Newswatch
June 9, 2021
Financial News

 

 

World shares mixed…China denounces US tech bill

 

BANGKOK (AP) – World shares are mixed after China reported a big jump in factory gate prices at a time when inflation is a top investor concern. In early trading, Germany’s DAX edged 0.1% lower, while the CAC 40 in Paris added 0.1%. In London, the FTSE 100 dropped 0.6%. In Asia, Tokyo’s Nikkei 225 index closed 0.4% lower. The Kospi in Seoul fell 0.9%, Hong Kong shed 0.1% and the Shanghai Composite index advanced 0.3%. On Wall Street, S&P 500 futures were up 0.1% and Dow futures are barely changed.

 

BEIJING (AP) – Beijing is denouncing a U.S. bill aimed at boosting U.S. technology in the face of growing competition from China and others, calling it a thinly veiled attack on China’s political system and an attempt to constrain its development. The Foreign Affairs Committee of China’s ceremonial legislature has issued a scathing statement expressing its “strong dissatisfaction and resolute opposition” to the U.S. Innovation and Competition Act, which passed with overwhelming bipartisan support in the Senate on Tuesday. The committee also attacked provisions in the bill expressing support for Taiwan, the self-governing island democracy China claims as its own territory.

 

CANBERRA, Australia (AP) – Australia’s prime minister says the World Trade Organization should penalize China for “bad behavior when it occurs.” Prime Minister Scott Morrison was speaking today ahead of his departure for a Group of Seven leaders’ meeting in Britain. Morrison hopes to garner international support in a worsening trade dispute with China. Morrison says Australia would be “working with others to buttress the role of the World Trade Organization.” The Australian government announced in December it would ask the WTO to intervene in its dispute with China over barley. The rules-making body is facing calls for restructuring and reform as it struggles to forge a long-awaited world trade pact.

 

BRUSSELS (AP) – European Union lawmakers have approved a new coronavirus travel certificate aimed at opening the 27-nation bloc up for the summer. At the moment, traveling across the bloc is a trial for tourists, airlines and authorities. Restrictions and regulations can differ from country to country. But beginning July 1, EU nations will have to recognize the vaccine certificate, which can take paper or digital form. The passes will be issued free and certify that a person has either been vaccinated against the virus, has recently tested negative, or has recovered from the disease.

 

MILAN (AP) – Luxury sports carmaker Ferrari has tapped Benedetto Vigna, an Italian executive at Europe’s largest semiconductor chipmaker, as its new CEO. The company the 52-year-old Vigna will join Ferrari in September from Geneva-based STMicroelectronics. He worked there for 26 years, most recently running its most profitable operating business, its analog, micro-electromechanical systems and sensors group. The appointment signals Ferrari’s focus on new technologies shaping an automotive world in transition, as the importance of electric powertrains, autonomous driving technologies and in-car connectivity is growing.