Financial News

World stocks mixed…renters temporarily spared

SINGAPORE (AP) – World stocks are mixed today as concerns about the risk of the spread of the delta variant of the coronavirus set in. In early trading, France’s CAC 40 added 0.5% while Germany’s DAX was 0.7% higher. The FTSE 100 in Britain picked up 0.3%. In Asian markets, the Kospi in South Korea rose 1.3%, while the Hang Seng in Hong Kong climbed 0.9%. The Shanghai Composite index gained 0.9%. Tokyo’s Nikkei 225 fell 0.2%. Wall Street is positioned for losses, with futures for the S&P 500 index slipping 0.1% and those for the Dow also shedding 0.1%.

WASHINGTON (AP) – The Centers for Disease Control and Prevention has issued a new moratorium on evictions that would last until Oct. 3. The Biden administration is trying to quell intensifying criticism that it was allowing vulnerable renters to lose their homes during a pandemic. The new moratorium would temporarily halt evictions in counties with “substantial and high levels” of virus transmissions and would cover areas where 90% of the U.S. population lives.

WASHINGTON (AP) – The senators who spent months stitching together a nearly $1 trillion infrastructure package are now trying to sell it to the American people. The lawmakers are appealing to the wishes of many voters for more bipartisanship in Congress – along with better airports, roads and internet service without being directly asked to pay for those improvements through higher income taxes or user fees. A key vote is expected later this week that would push the long recognized national priority much closer to the finish line.

TOKYO (AP) – Honda has returned to profitability in April-June, recording a $2 billion profit as better sales and costs cuts added to the Japanese automaker’s bottom line. Honda had racked up a 80.8 billion yen loss the previous year, when the entire auto industry was hurt by the coronavirus pandemic. Quarterly sales totaled 3.6 trillion yen, up nearly 69% on year, as global vehicles sales recovered in North America. It’s raised its annual profit forecast to 670 billion yen, or $6.1 billion.

TOKYO (AP) – Sony’s April-June profit rose 9% to 211.8 billion yen, or $1.9 billion, as the Japanese electronics and video game maker continued to benefit from a sales perk from the hit “Demon Slayer” animation film. Healthy results in its music streaming business and robust demand for digital cameras and image sensors helped Tokyo-based Sony’s quarterly sales grow 15% to 2.26 trillion yen, or $20.7 billion. Sony raised its full year profit forecast to 700 billion yen, or $6.4 billion, from an earlier 660 billion yen, or $6 billion.