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September 3, 2021
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September 3, 2021
Financial News

 

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Global stocks mixed…Jobs report

 

BEIJING (AP) – Global stock markets are mixed as investors await U.S. jobs numbers that some hope will be weak enough to persuade the Federal Reserve to postpone winding down economic stimulus. In early trading, the FTSE 100 in London rose 0.2%. Frankfurt’s DAX shed less than 0.1% and the CAC 40 in Paris sank 0.4%. In Asian trading, In Asia, the Shanghai Composite Index closed 0.4% lower, while the Nikkei 225 in Tokyo added 2%. The Hang Seng in Hong Kong declined 0.9%. The Kospi in Seoul advanced 0.8%. On Wall Street, futures for the benchmark S&P 500 index and the Dow Jones Industrial Average were up 0.1%.

 

WASHINGTON (AP) – The government issues its jobs report this morning, and economists surveyed by FactSet believe hiring may have slowed in August, at a time when the delta variant’s spread discouraged some Americans from flying, shopping and eating out. The economists believe that employers added 750,000 jobs in August. That would represent a substantial gain, though below the roughly 940,000 jobs that were added in both June and July. Some analysts are more pessimistic, expecting job growth of 500,000 or less.

 

BRUSSELS (AP) – The European Union says it’s reached an agreement with drugmaker AstraZeneca to end their legal battle over the slow delivery of the Anglo-Swedish company’s coronavirus vaccine. The European Commission, says AstraZeneca made a “firm commitment” to deliver a total of 300 million vaccine doses by March. The commission says it involves the pharmaceutical company providing 135 million doses by the end of this year plus another 65 million doses in the first quarter of 2022. Around 100 million have already been supplied. Brussels says the deliveries would respect an advance purchasing agreement the EU reached with AstraZeneca a year ago. A Belgian court ruled in June that AstraZeneca had committed a “serious breach” of its contract.

 

BEIJING (AP) – E-commerce giant Alibaba Group says it will spend $15.5 billion to support President Xi Jinping’s campaign to spread China’s prosperity more evenly. Its announcement adds to pledges by tech companies that are under pressure to pay for the ruling Communist Party’s political initiatives. Alibaba says it will invest in 10 projects for job creation, “care for vulnerable groups” and technology innovation. Alibaba and other Chinese tech giants including games and social media service Tencent Holdings Ltd have announced plans to invest in social welfare, technology development and other ruling party priorities in response to pressure to align with Beijing’s political and economic plans.

 

BERLIN (AP) – German automaker Daimler has dismissed a ‘cease and desist’ demand from two environmental groups to commit to ending the sale of combustion engine vehicles by 2030. Lawyers for Greenpeace and the group Deutsche Umwelthilfe have threatened to sue Daimler, BMW and Volkswagen unless they sign a legal pledge not to put new gas-fueled vehicles onto the market from the end of this decade. The groups argue that companies are bound by the same rules as governments when it comes to reducing greenhouse gas emissions to combat climate change. The lawyers successfully sued the German government earlier this year.