Global stocks mostly lower…Internet outage
BEIJING (AP) – Global stock markets are mostly lower today after the Federal Reserve indicated it might ease off economic stimulus earlier than previously thought. In early trading, the FTSE 100 in London lost 0.3% and Frankfurt’s DAX was off less than 0.1%. The CAC 40 in Paris retreated 0.1%. In Asia, the Nikkei 225 in Tokyo closed 0.9% lower while the Shanghai Composite Index rose 0.2%. Hong Kong’s Hang Seng added 0.4%. The Kospi in Seoul sank 0.4%. On Wall Street, S&P 500 and Dow futures are both down 0.3%.
UNDATED (AP) – A wave of brief internet outages has hit dozens of financial institutions, airlines and other companies. Internet monitoring websites showed disruptions across the globe. Many of the outages were reported today by people in Australia trying to do banking, book flights and access postal services. Australia’s central bank also was affected, as was Hong Kong’s stock exchange. Most of the outages appeared to end after an hour or so.
SAN JUAN, Puerto Rico (AP) – A sudden power failure left more than 337,000 customers in the dark across Puerto Rico, enraging many who were recovering from a massive outage that hit the U.S. territory just days ago. Luma Energy, a private company that took over the island’s power transmission and distribution system on June 1, says three units were knocked offline last night for reasons not immediately known. An outage last Thursday left 900,000 people in the dark.
HONG KONG (AP) – Hong Kong police have used a sweeping national security law to arrest five editors and executives of a pro-democracy newspaper on charges of colluding with foreign powers. Today’s arrests were the first time the legislation has been used against the press in yet another sign of an intensifying crackdown by Chinese authorities in the city long known for its freedoms. Police say they have evidence that more than 30 articles published by Apple Daily played a “crucial part” in what they called a conspiracy with foreign countries to impose sanctions against China and Hong Kong. Apple Daily says the move has left it “speechless” but it vows to continue its reporting.
NEW YORK (AP) – Prosecutors in New York are asking a judge to impose a “very substantial” prison sentence on once high-profile attorney Michael Avenatti after he was convicted last year of trying to extort millions of dollars from Nike. Prosecutors are recommending eight years in prison when Avenatti is expected to be sentenced in two weeks. The government says Avenatti deserves a lengthy sentence because he used his law degree and fame to try to force the apparel maker to pay out up to $25 million. His lawyers say six months in prison and a year of home detention is sufficient.