Financial News

Barbara Jean West Roe
May 2, 2022
AP-NC Newswatch
May 2, 2022
Financial News

 

Financial News:

 

Stocks down…US futures up…N Zealand welcomes tourists

TOKYO (AP) – Global shares are down and oil prices have also declined as European energy ministers prepare to meet to discuss Russian supply issues and sanctions. But U.S. futures have advanced after a rout Friday on Wall Street. Trading was closed for holidays in China, many other Asian markets and Britain. In China, lockdowns in Shanghai and other cities have hurt factory activity. Some enterprises have reduced or stopped production, with disruptions in logistics as well as the supply or raw materials and components.

 

BRUSSELS (AP) – European Union energy ministers are meeting today to discuss Russia’s decision to cut gas supplies to Bulgaria and Poland and debate planned new sanctions over Moscow’s war on Ukraine. The 27 nation-bloc has imposed five rounds of sanctions on Russian officials, oligarchs, banks, companies and other organizations since Russian troops invaded Ukraine in February. The European Commission is working on a sixth round of measures which could include oil restriction. The EU’s executive branch could announce its new sanction proposals later this week.

 

UNDATED (AP) – A Finnish nuclear energy company says it has decided to terminate a contract with Russian state nuclear energy corporation Rosatom for the delivery of a nuclear power plant. It says one reason is the war in Ukraine, saying it “has worsened the risks for the project.” The Russian military says its forces have struck dozens of Ukrainian military targets in the east.

 

MADRID (AP) – Spanish officials say the cellphones of the prime minister and the defense minister were infected last year with Pegasus spyware that is only available to government agencies, in an operation that was not authorized by the government. A government minister says Prime Minister Pedro Sanchez’s phone was breached twice in May 2021 and Defense Minister Margarita Robles’ device was targeted once the following month. Presidency Minister Felix Bolanos said in a hastily convened news conference that the breaches resulted in a significant amount of data being obtained. Reports detailing the breaches have been transferred to Spain’s National Court for further investigation.

 

WELLINGTON, New Zealand (AP) – New Zealand has begun welcoming back tourists from the U.S., Canada, Britain, Japan and more than 50 other countries for the first time in more than two years after dropping most of its remaining pandemic border restrictions. The country has long been renowned for its breathtaking scenery and adventure tourism offerings such as bungy jumping and jetboating. Before the spread of COVID-19, more than 3 million tourists visited each year, accounting for more than 5% of the economy.