Down markets…PR to get $4B in pandemic money
BEIJING (AP) – Global stock markets declined today as investors look ahead to manufacturing indicators from Japan, China and South Korea. In early trading, the FTSE 100 in London lost 0.4% and the DAX in Frankfurt was unchanged. The CAC 40 in Paris sank 0.3%. In Asian markets, the Shanghai Composite Index declined less than 0.1% and the Nikkei 225 in Tokyo shed less than 0.1%. The Hang Seng in Hong Kong closed down less than 0.1% and the Kospi in Seoul shed less than 0.1%. On Wall Street, S&P 500 futures are up less than 0.1% while Dow futures are off less than 0.1%.
SAN JUAN, Puerto Rico (AP) – U.S. Education Secretary Miguel Cardona says Puerto Rico will receive nearly $4 billion in federal education pandemic relief funds to help boost the U.S. territory’s fight against COVID-19. Today’s announcement was made during Cardona’s official three-day trip to Puerto Rico. It is the first for a Biden administration Cabinet member and also marks the first time the island has full access to those funds.
DETROIT (AP) – General Motors is building two electric SUVs for Honda to sell in North America in 2024, but the Japanese automaker plans to manufacture them on its own after that. Honda says the GM-made vehicles will have Honda bodies, interiors and suspensions and will be unique to the Honda and Acura brands. The company says the Honda will be called the Prologue. It plans a series of electric vehicles this decade for North America, with most made at Honda plants. In April, the company said it plans to phase out all of its gasoline-powered vehicles in North America by 2040.
MOSCOW (AP) – Restaurants and cafes in Moscow have started requesting that patrons provide proof of vaccination or a negative coronavirus test as the Russian capital faces a surge of new infections. All Moscow restaurants, cafes and bars must admit only customers who have been vaccinated, have recovered from COVID-19 in the past six months, or can provide a negative coronavirus test from the previous 72 hours.
BEIJING (AP) – The Chinese government says it has turned on the first two generating units of the world’s second-biggest hydroelectric dam. The Baihetan Dam on the Jinsha River in southwestern China is part of official efforts to curb fossil fuel demand by building more hydropower capacity at a time when dams have fallen out of favor in other countries due to environmental complaints. The announcement comes ahead of the ruling Communist Party’s celebration this week of the official 100th anniversary of its 1921 founding.