Financial News

Friday, April 29th
April 28, 2022
AP-NC Newswatch
April 29, 2022
Financial News


Financial News:


World stocks higher…record inflation for euro countries

UNDATED (AP) – World markets have advanced after Chinese leaders pledged to step up efforts to support the slowing No. 2 economy. Oil prices also rose. Chinese state media reported that the ruling Communist Party’s powerful Politburo pledged today to step up efforts to boost growth. But it showed no signs of ending its stringent COVID-zero policies. Major stock indexes on Wall Street notched their biggest gains in more than six weeks Thursday, as technology companies clawed back some of the ground they had lost recently.


BRUSSELS (AP) – Inflation has hit a new record for the 19 countries that use the euro. The record comes as skyrocketing fuel prices boosted by the war in Ukraine add new burdens to household finances and weigh on a slowing economic recovery from the latest outbreaks of COVID-19. Annual inflation hit 7.5% for April, the highest since statistics started in 1997 and the sixth record in a row, topping the old record of 7.4% from March. Energy prices jumped a startling 38%, a testimony to how the war and the accompanying global energy crunch are affecting the eurozone’s 343 million people.


DETROIT (AP) – Elon Musk has sold more than 4 million shares of Tesla stock worth roughly $4 billion, most likely to help fund his $44 billion purchase of Twitter. Musk reported the sale in a filing with the Securities and Exchange Commission on Thursday. The shares were sold over the past few days, at prices ranging from $872.02 to $999.13. The world’s richest man tweeted that no further sales of Tesla shares are planned. Most of the sales took place on Tuesday, when Tesla shares closed down 12%.


UNDATED (AP) – Google has expanded options for keeping personal information private from online searches. The company says it will let people request that more types of information be removed from search results. These include personal contact information like phone numbers and email and physical addresses. The new policy also allows the removal of other information that may pose a risk for identity theft, such as confidential log-in credentials.


SACRAMENTO, Calif. (AP) – California’s attorney general has subpoenaed ExxonMobil as part of what he calls a first-of-its-kind investigation into the petroleum industry for its alleged role in causing a global plastic pollution crisis. Attorney General Rob Bonta on Thursday said the industry has encouraged the development and use of petroleum-based plastic products. ExxonMobil calls the allegations meritless. Bonta says the industry has sought to minimize public understanding that widespread use of plastics harms the environment and public health. Bonta says ExxonMobil was subpoenaed as a major source of global plastics pollution and for allegedly deceiving the public. The American Chemistry Council says U.S. plastic makers are committed to a more sustainable future.