World stocks mixed…Senate OKs Dems’ $3.5T budget
SINGAPORE (AP) – World stocks are mixed ahead of U.S. inflation data offering a glimpse at how the world’s largest economy is recovering. In early trading, France’s CAC 40 climbed 0.2%, while the DAX in Germany added under 0.1%. Britain’s FTSE 100 picked up 0.4%. In Asian trading, the Nikkei 225 in Tokyo rose 0.7% and the Shanghai Composite Index added 0.1%. Hong Kong’s Hang Seng was up 0.2%. The Kospi in Seoul, however, gave up 0.7%. Wall Street is positioned to open lower, with S&P 500 futures down 0.1% and Dow futures down just under 0.1%.
WASHINGTON (AP) – Democrats have pushed a $3.5 trillion framework for bolstering family services, health, and environment programs through the Senate. The chamber’s party-line approval of the budget resolution advances President Joe Biden’s expansive vision for reshaping federal priorities. And it happened just hours after senators handed him a triumph on a companion $1 trillion infrastructure package.
DANDONG, China (AP) – A Chinese court has sentenced a Canadian entrepreneur to 11 years in prison in a spying case that has been linked to Beijing’s pressure campaign against Canada’s government. Michael Spavor and a former Canadian diplomat were detained soon after an executive at Chinese tech giant Huawei was arrested at the Vancouver airport in 2018. U.S. authorities want Huawei’s Meng Wanzhou extradited to face charges of possible violations of trade sanctions on Iran. China says her case is political and has repeatedly demanded her release. It denies a direct connection to the Canadians’ trials, but Chinese officials frequently mention their fates together. Canada’s ambassador says Spavor is resilient and in good spirits.
CANBERRA, Australia (AP) – Australia’s second-largest city, Melbourne, has extended its lockdown in a bid to stamp out an outbreak of COVID-19, while authorities in Sydney say they are considering easing restrictions for vaccinated residents despite the delta variant continuing to spread. Melbourne’s lockdown will be extended for a second week until the end of Aug. 19, as the Victoria state government repots 20 new infections. The New South Wales state government reports 344 new infections.
DUBAI, United Arab Emirates (AP) – Dubai International Airport is the world’s busiest for international travel. But it’s handled some 40% less passenger traffic in the first half of 2021, compared to the same period last year. However, the hub’s chief executive says he remains optimistic about the crucial east-west transit point as authorities gradually re-open Dubai’s key routes to the Indian subcontinent and Britain. The airport saw 86.4 million people squeeze through before the pandemic hit in 2019. It’s held the title of the world’s busiest for the past seven years.