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May 3, 2018
Financial News




World stocks mixed … Chinese and American officials meeting in Beijing … Many US businesses rethink testing for pot


HONG KONG (AP) – World stock markets are mixed today as investors analyze the Fed’s decision to keep interest rates unchanged and are keeping an eye out for developments from China-U.S. trade talks in Beijing. European shares have slipped in early trading. Most Asian markets closed down, but the Shanghai Composite and Australia’s S&P/ASX 200 advanced. Wall Street futures suggest that the Dow and S&P 500 will open higher.



HONG KONG (AP) – Chinese and American officials meeting in Beijing beginning Thursday will be trying to defuse tensions that have propelled the world’s two largest economies toward a trade war. Treasury Secretary Steven Mnuchin is leading a delegation for two days of talks, but underlying the dispute is a dogged rivalry in strategic technologies like semiconductors. China has been trying for decades to gain an edge in microchips, the silicon brains behind smartphones, connected cars and artificial intelligence.


FRANKFURT, Germany (AP) – New Volkswagen CEO Herbert Diess (dees) has vowed to build a more ethical culture after the company’s diesel emissions scandal and outlined a new, six-part structure aimed at streamlining decision-making at the sprawling company. Diess said at the shareholder meeting today that company divisions would make their own decisions and without always getting approval from the top.


BRUSSELS (AP) – The European Union is expecting strong economic growth this year and next year but predicts that departing Britain will see tougher times ahead. The EU says in its spring economic forecast that growth should be a robust 2.3 percent this year and only ease slightly to 2.0 percent in 2019 for both the 28-nation bloc and the 19-member eurozone of members sharing the same currency.


WASHINGTON (AP) – A low unemployment rate and the spreading legalization of marijuana have led many businesses to rethink their drug testing policies for the first time in decades. A small but increasing number are no longer testing for pot. For small businesses, however, it may be a tougher call than for bigger corporations.



AP-WF-05-03-18 1039GMT