Financial News

Ruth Harless Weaver
July 2, 2021
AP-NC Newswatch
July 6, 2021
Financial News

 

World shares mostly lower…New rule to protect some farmers

 

TOKYO (AP) – Global shares are mostly lower today as oil prices surged after a meeting of oil producing nations was postponed. In early trading, France’s CAC 40 dropped 0.5%, while Germany’s DAX lost 0.6%. Britain’s FTSE 100 edged down 0.2%. In Asian trading, Japan’s Nikkei closed 0.2% higher. South Korea’s Kospi added 0.4%. Hong Kong’s Hang Seng lost 0.3%, while the Shanghai Composite slipped 0.1%. On Wall Street, Dow futures are less than 0.1% lower and S&P 500 futures are 0.1% lower.

 

OMAHA, Neb. (AP) – The Biden administration plans to issue a new rule to protect the rights of farmers who raise cows, chickens and hogs against the country’s largest meat processors. It’s part of a plan to encourage more competition in the agriculture sector. The new rule will make it easier for farmers to sue companies they contract with over unfair practices. The USDA is also expected to tighten the definition of what it means for meat to be labeled a “Product of USA” to exclude when animals are raised in other countries and simply processed in the United States.

 

UNDATED (AP) – The legal fallout from the deadly building collapse in Surfside, Florida, is already underway. It includes at least five lawsuits and a planned grand jury investigation. The litigation comes even as rescuers remain at the site hoping to find survivors. Twenty-eight people have been found dead and more than 117 residents are thought to still be missing. Chapman University law professor Denis Binder studies wide-scale disasters and says they are increasingly leading to criminal negligence charges.

 

TOKYO (AP) – Japan’s government says a second shipment of more than 1 million doses of COVID-19 vaccine will be sent to Taiwan. Japan’s foreign minister says some 1.1 million doses of AstraZeneca vaccine are set to be shipped Thursday as the self-governing island scrambles to get vaccine to fight its worst outbreak of the pandemic. The shipment is Japan’s second and comes a month after an earlier donation of 1.24 million AstraZeneca doses. Japan has no official diplomatic ties under the one-China policy, but is increasingly stepping up economic and security ties with Taiwan.

 

COPENHAGEN, Denmark (AP) -Norway’s largest pension fund says it has divested itself of 16 companies that operate in Israeli settlements in the occupied West Bank. Oslo-based KLP manages more than 300 billion kroner ($35 billion). It says that after attempting to talk with the companies, it sold shares and bonds valued at 275 million kroner ($32 million). As of June 2021, KLP will no longer do business with companies including those in banking, construction, infrastructure and telecommunications in the West Bank. Among them are Motorola Solutions and French power and transportation company Alstom SA.