Stocks mostly higher…China’s Ant Group shares credit data
UNDATED (AP) – World shares are mostly higher after the Federal Reserve signaled it may begin easing its extraordinary support measures for the U.S. economy later this year. In early trading, Germany’s DAX climbed 0.8% and the CAC 40 in Paris advanced 0.7%. Britain’s FTSE 100 was 0.4% higher. In Asian markets, Hong Kong’s Hang Seng gained 1.2% and Shanghai Composite index added 0.4%. South Korea’s Kospi dropped 0.4%. On Wall Street, Dow and S&P 500 futures are both up 0.6%.
WASHINGTON (AP) – The Environmental Protection Agency is sharply limiting domestic production and use of highly potent greenhouse gases commonly used in refrigerators and air conditioners. The new rule on hydrofluorocarbons is intended to decrease U.S. production and use of those gases by 85% over the next 15 years as part of a global phaseout designed to slow global warming. HFCs are thousands of times more powerful than carbon dioxide. They often leak through pipes or appliances that use compressed refrigerants and are considered a major driver of global warming.
BRISBANE, Australia (AP) – Chicago-based aerospace giant Boeing plans to build a new type of drone military aircraft in Australia. Boeing says it has selected Queensland state as the final assembly point for its unmanned Loyal Wingman planes. The first test flights were completed earlier this year. It’s the first military combat aircraft to be designed and manufactured in Australia in half a century. The announcement comes less than a week after the U.S., Britain and Australia announced a new security alliance that will supply Australia with nuclear-powered submarines. The deal was condemned by China and has heightened tensions in the Indo-Pacific region.
BEIJING (AP) – China’s central bank will soon have access to private credit information of hundreds of millions of users of Ant Group’s online credit service, in a move signaling more regulatory oversight of the financial technology sector. Huabei, Ant Group’s credit service, says that consumer credit data it has collected will be included in the People’s Bank of China’s financial credit information database. The move is part of various regulations for Ant, which has been ordered to end its monopoly on information and behave more like a bank.
TAIPEI, Taiwan (AP) – Taiwan officials say the island has applied to join an 11-nation Pacific trade group. That sets up a potential clash with rival Beijing. The Chinese government, which claims Taiwan as part of its territory, gave no details of how it might respond but said the island has no right to join international bodies. A Taiwan Cabinet minister says the island’s application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership might be disrupted if China, which applied last week, is admitted first.