Markets higher…China trade war on hold…Facebook meeting
SEOUL, South Korea (AP) – Global stock markets were higher on Monday as investors cheered the outcome of negotiations between the United States and China that put a trade war on hold, clearing uncertainty. Futures point to opening gains on Wall Street. Benchmark U.S. crude oil rose above $71.50 per barrel. The dollar rose against the yen and the euro.
WASHINGTON (AP) – The United States and China are pulling back from the brink of a trade war after the world’s two biggest economies reported progress in talks aimed at bringing down America’s massive trade deficit with Beijing. After high-level talks Thursday and Friday in Washington, Beijing agreed in a joint statement with the U.S. to “substantially reduce” America’s trade deficit with China, but did not commit to cut the gap by any specific amount. The Trump administration had sought to slash the deficit by $200 billion.
BRUSSELS (AP) – Facebook CEO Mark Zuckerberg has agreed to have his meeting Tuesday with the leaders of the European parliament about data privacy be broadcast publicly through web streaming. The evening meeting with leaders of the political groups and a justice and civil rights expert was long expected to be private. But many in the European Parliament had been calling for an on-air grilling for Zuckerberg to explain his company’s role in a scandal about the misuse of customer data.
DUBAI, United Arab Emirates (AP) – The United Arab Emirates, home to financial hubs Abu Dhabi and Dubai, is loosening its residency laws and will grant long-term visas for up to 10 years to investors and highly-skilled professionals. The 10-year residency visas will be granted to specialists in science, medicine and research, and to “exceptional students.” The state-run WAM news agency says the plan aims to attract global investment and innovators.
LONDON (AP) – The British Parliament’s foreign affairs committee has slammed the government for “turning a blind eye” to the role London’s financial center plays in laundering the proceeds of Russian corruption, saying it helps the Kremlin finance its aggressive foreign policy. The committee says in a report published Monday that despite the tough rhetoric over the nerve agent attack on a former spy in Britain earlier this year, President Vladimir Putin’s allies were able to continue “business as usual” in the U.K.