BANGKOK (AP) — World shares are mostly lower today after stocks rallied to records on Wall Street Friday, with the Dow Jones Industrial Average closing above the 35,000 level for the first time. In early trading, Britain’s FTSE 100 lost 0.4%, Germany’s DAX declined 0.7% and in Paris, the CAC 40 lost 0.6%. In Asian trading, Tokyo’s Nikkei finished 1% higher. The Kospi in Seoul declined 0.9%, Hong Kong’s Hang Seng sank 4.1% and the Shanghai Composite index dropped 2.3%. On Wall Street, Dow and S&P 500 futures are both down.
WASHINGTON (AP) — Senators are racing to seal a bipartisan infrastructure deal as soon as today. Pressure is mounting on all sides to show progress. It’s a make-or-break week on President Joe Biden’s top priority. One major roadblock is how much money should go to public transit. But spending on water projects, broadband and others areas remains unresolved, as is tapping COVID-19 funds to help pay for it.
TIANJIN, China (AP) — China is blaming the U.S. for what it calls a “stalemate” in bilateral relations as high-level face-to-face talks begin in the Chinese city of Tianjin. A state media report says China’s vice foreign minister urged the U.S. “to change its highly misguided mindset and dangerous policy.” The official Xinhua News Agency quotes him as telling U.S. Deputy Secretary of State Wendy Sherman that the China-U.S. relationship is in a stalemate because some Americans portray China as an “imagined enemy.”
BEIJING (AP) — China’s industry ministry has started a 6-month campaign to clean up what it says are serious problems with internet apps violating consumer rights, cyber security and “disturbing market order.” The Ministry of Industry and Information Technology says in an online notice that companies must fix pop-ups on apps that deceive and mislead users or force them to use services they might not want. The order is part of a wider effort to crack down on tech industries and police use of personal information.
BERLIN (AP) — A closely watched survey finds that German business confidence has dipped unexpectedly this month as increasing coronavirus infections help cloud businesses’ outlook for the coming months. The Ifo institute says that its confidence index declined to 100.8 points in July from 101.7 a month earlier. It was the first decline since January. Economists had expected an increase to 102.5. While managers’ assessment of their current situation improved, their outlook for the next six months worsened significantly.
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World stocks mostly lower...racing to seal a deal - KVIA El Paso
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