World shares higher…Biden to push spending plan
UNDATED (AP) – World shares are mostly higher, bouncing back from losses last week on Wall Street. In early trading, Britain’s FTSE 100 was 0.4% higher, the DAX in Germany was up 0.7% and the CAC in Paris rose 0.5%. In Asian trading, Tokyo’s Nikkei 225 ended up 0.2% and the Hang Seng in Hong Kong closed 1.5% lower. In Seoul, the Kospi edged 0.1% higher and the Shanghai Composite index gained 0.3%. On Wall Street, Dow futures were up 0.5%, while S&P 500 futures were up 0.4%.
WASHINGTON (AP) – President Joe Biden will promote his administration’s use of the Defense Production Act to aid in wildfire preparedness during a western swing in which he’ll survey wildfire damage in Idaho and California. Biden is aiming to drum up support for his massive $3.5 trillion spending plan by linking it to wildfires and social programs while visiting those two states and Colorado. Biden’s trek on Monday and Tuesday also coincides with the recall election of California Gov. Gavin Newsom. The president is set to appear with Newsom on the eve of Tuesday’s vote.
WASHINGTON (AP) – A Democratic senator vital to the fate of President Joe Biden’s $3.5 trillion plan for social and environmental spending says he won’t support even half that amount or the ambitious timetable envisioned for passing it. The stand taken by Sen. Joe Manchin is described as unacceptable by the chairman of the Senate Budget Committee, Sen. Bernie Sanders, who’s helping craft the measure. Manchin also says there’s is “no way” Congress can meet the goal of passing the bill by late this month.
GENEVA (AP) – The United Nations is hosting a high-level donors conference to drum up emergency funds for Afghanistan after the Taliban takeover of the country. There are concerns that instability and upended humanitarian efforts, compounded by an ongoing drought, could endanger lives and plunge the country toward famine. U.N. Secretary-General Antonio Guterres is leading the appeal by the world body to collect more than $600 million for the rest of this year in a “flash appeal” for Afghans after their country’s government was toppled last month.
DUBAI, United Arab Emirates (AP) – Advocates and workers say that traffic casualties among food delivery riders are mounting in Dubai as the pandemic accelerates a boom in customer demand. The trend has transformed the city’s streets and drawn thousands of desperate riders, predominantly Pakistanis, into the high-risk, lightly regulated and sometimes-fatal work. The conditions of food couriers around the world have worsened during the pandemic.