Asian stocks rally … Trump to talk drug prices … Canada divided over oil pipeline from tar sands to Pacific
HONG KONG (AP) – Most Asian stock indexes rallied today, tracing gains on Wall Street after weaker than expected inflation figures soothed concerns about a possible acceleration of interest rate hikes. European stocks faltered ahead of a speech by the European Central Bank chief. In early European trading, France’s CAC 40 lost 0.3 percent, Germany’s DAX dipped 0.3 percent and Britain’s FTSE 100 was nearly flat. Wall Street is expected to open higher with Dow futures up 0.1 percent and the broader S&P 500 futures up 0.1 percent.
WASHINGTON (AP) – President Donald Trump is expected today to give his first speech on lowering drug prices. Administration officials say the plan would increase competition, create incentives for drugmakers to lower initial prices and slash federal rules that make it harder for private insurers to negotiate lower prices. The result would be lower pharmacy costs for patients – a key Trump campaign promise.
HONG KONG (AP) – An industry group says Chinese passenger car sales expanded at a faster pace last month as growth in the world’s biggest auto market picked up steam. Monthly figures from the China Association of Automobile Manufacturers show that passenger cars sales in April rose 11 percent over a year earlier to 1.9 million vehicles, outpacing a 3.5 percent growth rate in March.
VANCOUVER, British Columbia (AP) – A proposed pipeline expansion of an oil pipeline that curs across the Canadian Rockies has set off intense opposition from people who fear it could lead to spills that will foul the scenic coastline around Vancouver. The objections are fierce enough that U.S.-based Kinder Morgan is threatening to cancel the project.
BANGKOK (AP) – A professional pilots’ organization is warning that soft ground conditions at Bangkok’s main international airport can cause the pavement of its taxiways to buckle or otherwise fail. The warning was issued this week by the International Federation of Air Line Pilots’ Association, and the group issued a similar warning four years ago. It says the airport operator doesn’t plan to make permanent repairs until at least late 2019.