Financial News

Financial News
May 15, 2018
AP-NC Newswatch
May 16, 2018
Financial News




World share prices mixed … Corporate America asks for tariff relief … Walmart going upscale?


NEW YORK (AP) – World share prices have been mixed today, with European benchmarks posting modest gains after a day of losses in most major Asian markets. China-U.S. trade talks, North Korea’s cancellation of meetings with South Korea and weaker than expected Japanese economic growth weighed on sentiment. In early trading, stocks in Germany, France and Britain are higher. Markets in Japan, South Korea and Hong Kong closed lower. Dow and S&P futures point to early gains on Wall Street.


WASHINGTON (AP) – Corporate America is seeking relief from President Donald Trump’s threatened tariffs on at least $50 billion in Chinese goods as negotiators seek to prevent a trade war between the world’s two biggest economies. As the U.S. government began three days of hearings on the tariffs Tuesday, Chinese Vice Premier Liu He traveled to Washington to seek a resolution to the trade dispute. A similar high-level U.S. delegation made a trip to Beijing earlier this month and returned empty-handed.


NEW YORK (AP) – Amazon is rolling out extra discounts for its Prime members at Whole Foods. The benefits start today at Whole Foods stores in Florida and will then expand nationwide this summer. Prime members will get an additional 10 percent off sale items and exclusive deals on certain groceries. To show that they’re Prime members, shoppers can scan the Whole Foods app at the register or give the cashier their phone number.


NEW YORK (AP) – Walmart wants shoppers to think of it as a source for style and upscale fashion as it tries to reach more affluent customers. The company is launching the Lord & Taylor store on its website in the coming weeks with more than 125 brands like Lucky Brand, Vince Camuto and Tommy Bahama. That reflects its effort to broaden its customer base, drive growth and compete with Amazon.


NEW YORK (AP) – Some ethics experts say a planned Trump-branded hotel, luxury villas and condos and golf course in Indonesia may violate a clause in the U.S. Constitution which bans gifts from foreign governments. The property owner struck the development deal three years ago, before the election. A Chinese government-owned company is in charge of construction.



AP-WF-05-16-18 1041GMT