Financial News

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January 31, 2022
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January 31, 2022
Financial News

 

Financial News:

 

Stocks higher…Spotify advisories…fur free Dolce&Gabbana

BEIJING (AP) – Global stocks are higher following a big Wall Street gain at the start of a week when China, South Korea and Southeast Asian markets are closed for the Lunar New Year holiday. Hong Kong and Southeast Asia are due to close later in the week. London and Frankfurt opened higher today. Tokyo and Hong Kong advanced while Sydney declined. On Friday, Wall Street’s benchmark S&P 500 index rose 2.4%. Investors have been rattled by the Federal Reserve’s decision to try to cool inflation by accelerating plans to raise interest rates and wind down bond purchases and other stimulus that is boosting stock prices. Today, the future for the S&P is up less than 0.1%. The future for the Dow is unchanged.

 

WASHINGTON (AP) – President Joe Biden is preparing to host the ruling leader of Qatar at the White House as the West faces the prospect of a European energy crunch if Russia further invades Ukraine. Qatar played a central role in aiding last summer’s U.S. military evacuations in Afghanistan. It also hosts the biggest American air base in the Middle East, and served as a go-between with the Taliban for the last three U.S. administrations. Qatar is one of the world’s biggest natural gas suppliers, but it might only be able to offer limited assistance if Russia disrupts the flow of energy supplies to Europe.

 

FRANKFURT, Germany (AP) – Growth in the 19 European Union countries that use the euro slowed down in the last three months of 2021. The European Union statistics agency says growth was at 0.3%, down from 2.2% recorded in the July-September quarter. The European economy slowed noticeably at the end of last year as surging COVID-19 cases driven by the omicron variant piled on top of supply shortages and rising consumer prices. The result: An economic winter of discontent that may not lift until later this year. For the year, growth came in at 5.2.%, underlining that Europe’s recovery has lagged somewhat behind that in the United States.

 

NEW YORK (AP) – Spotify says it will add content advisories before podcasts that discuss the coronavirus. The move follows protests of the music streaming service that were kicked off by Neil Young over the spread of COVID-19 vaccine misinformation. In a post, Spotify chief executive Daniel Ek laid out more transparent platform rules given the backlash stirred by Young. The singer on Wednesday had his music removed from Spotify after the tech giant declined to remove episodes of “The Joe Rogan Experience,” which has been criticized for spreading virus misinformation. Rogan said on Instagram saying he wasn’t trying to be controversial and welcomes the addition of the advisories.

 

MILAN, Italy (AP) – Dolce&Gabbana says it will drop the use of animal fur in all its collections starting this year, and transition to eco-friendly faux fur. The Milan fashion house has joined other luxury brands including Armani, Gucci, Prada and Moncler in adhering to guidelines set by the Fur Free Alliance. The alliance is a network of animal rights groups around the world.