Financial News

Nora Belle (Hollifield) McIntyre
June 6, 2022
AP-NC Newswatch
June 6, 2022
Financial News

 

Financial News:

 

BEIJING (AP) – Global stock markets and Wall Street futures have advanced this morning, after the downturn in China’s service industries eased and news reports said the Biden administration might lift U.S. tariffs on some Chinese imports. London and Frankfurt opened higher. Shanghai, Tokyo and Hong Kong advanced. Oil prices gained, staying close to $120 per barrel.

 

BEIJING (AP) – Diners are returning to restaurants in most of Beijing for the first time in more than a month as authorities further ease pandemic-related restrictions. Museums, cinemas and gyms were allowed to operate at up to 75% of capacity today and delivery drivers could once again bring packages to a customer’s door. The ruling Communist Party remains wedded to a “zero-COVID” strategy that exacts an economic cost and inconveniences millions of people, even as many other countries take a more relaxed approach.

 

CANBERRA, Australia (AP) – An Australian court has ordered Google to pay a former politician 715,000 Australian dollars ($515,000) over two defamatory YouTube videos. John Barilaro, a former New South Wales state deputy premier, had sued Google and comedian Jordan Shanks, also known as friendlyjordies, in the Federal Court over the videos. Justice Steven Rares found that Barilaro had been the “subject of a relentless, racist, abusive and defamatory campaign conducted on YouTube,” a platform owned by Google. Barilaro told reporters outside the Sydney court that he feels “vindicated” by the judgment.

 

CHITTAGONG, Bangladesh (AP) – Experts are raising concerns over safety standards in Bangladesh’s industrial sector. At least 49 people were killed and more than 100 injured in a fire at BM Inland Container Depot, near the country’s main Chittagong Seaport. A few hundred workers and dozens of firefighters tried to extinguish the blaze shortly before midnight Saturday. But officials say they were unaware that chemicals were being stored at the depot, and after an initial fire, they got too close to explosive containers.

 

SACRAMENTO, Calif. (AP) – Some California lawmakers want to use taxpayer money to purchase water rights from farmers. The proposal by Senate Democrats aims to keep more water in California’s rivers and streams to benefit endangered species of fish. Their proposal would set aside about $1.5 billion to buy senior water rights from farmers. These rights allow farmers to take water from rivers and streams to irrigate their crops. Farmers, environmental groups and state regulators often fight over how much water should be left in rivers and streams for environmental purposes.