Asian shares mixed after muddled day of trading on Wall St
UNDATED (AP) — Shares are mixed in Asia after an up-and-down day on Wall Street ended with most benchmarks lower as traders waited for updates on inflation and corporate earnings.
Stocks fell in Tokyo, Sydney and Shanghai but rose in Seoul. Hong Kong was closed for a holiday.
The S&P 500 fell 0.2% Tuesday and the Dow Jones Industrial Average fell 0.3%. The Nasdaq slipped 0.1%, but small-company stocks ended higher. A mix of retailers and other companies that rely on direct consumer spending gained ground, but those gains were offset by falling technology and communications stocks. U.S. crude oil prices held steady at just above $80 a barrel. The yield on the 10-year Treasury note fell to 1.57%.
House sends debt limit hike to Biden, staving off default
WASHINGTON (AP) — Members of the House have approved a short-term hike to the nation’s debt limit.
The vote Tuesday evening ensures the federal government can continue fully paying its bills into December. The legislation next goes to President Joe Biden’s desk to be signed into law. A default would have had immense fallout on global financial markets, and routine government payments to Social Security beneficiaries, disabled veterans and others would have been called into question. But the relief provided will only be temporary, forcing Congress to revisit the issue in December, with Republicans promising that Democrats will have to lift the cap without their assistance.
VIRUS OUTBREAK-BOEING VACCINES
Boeing tells workers they must get COVID-19 vaccine
SEATTLE (AP) — The Boeing Co. has told employees they must be vaccinated against COVID-19 or possibly be fired.
The Seattle Times reports the deadline for workers at the aerospace giant is Dec. 8. Employees can request exemptions “due to a disability or sincerely held religious belief.” The policy will apply to roughly 125,000 US-based employees company-wide, with about 57,000 of those in Washington state. Boeing may face more resistance to the new policy in some Republican-controlled states.
On Monday, Texas Gov. Greg Abbott issued an executive order barring private companies or any other entity from requiring vaccines. Boeing has more than 5,000 employees in Texas. It has about 32,000 more at facilities in Alabama, Arizona, Missouri, Oklahoma and South Carolina.
Energy agency urges bigger global push to cut emissions
FRANKFURT, Germany (AP) — The International Energy Agency is urging governments to make stronger commitments to cut greenhouse gas emissions at an upcoming U.N. climate summit.
The Paris-based international organization is warning the world isn’t on track to contain climate change and that new investment is needed to “jolt the energy system onto a new set of rails.”
The 30-country organization said today in its annual world energy outlook that the economic rebound from the COVID-19 pandemic also has seen an increase in the use of coal and oil as well as a leap in emissions. The U.N. climate summit opens Oct. 31.
China exports up 28% in September; surplus with US at $42B
BEIJING (AP) — Customs data show that China’s imports slowed while exports accelerated in September, pushing the trade surplus higher on sustained demand in the U.S. and Asia.
Exports rose 28.1% to $305.7 billion. That was faster than the 26% increase logged in August. Imports rose 17.6% to $240 billion, slowing from a 33% jump the month before.
Officials say shipping and other supply bottlenecks are still disrupting trade after last year’s pandemic downturn. Economists have forecast that surging global demand for Chinese goods will level off as anti-disease controls ease and entertainment, travel and other service industries reopen.
Openings set for Wednesday in trial of Giuliani associate
NEW YORK (AP) — A jury has been selected for the trial of Lev Parnas, a onetime associate of Rudy Giuliani who is accused along with a co-defendant of making illegal campaign contributions.
Opening statements are set for this morning. U.S. prosecutors say Parnas ingratiated himself with influential Republicans through improper contributions. Those included a $325,000 donation in 2018 to a committee supporting then-President Donald Trump.
Parnas initially came to public attention for his involvement in Giuliani’s effort to get the government of Ukraine to investigate the son of President Joe Biden. That work isn’t part of the case and Giuliani has not been charged.
SWITZERLAND -VR-OF SPACE
Big picture, big data: Swiss unveil VR software of universe
LUSSANNE, Switzerland (AP) — Researchers at one of Switzerland’s leading universities are releasing open-source beta software that allows for virtual visits through the cosmos including up to the International Space Station, past the Moon, Saturn or exoplanets, over galaxies and beyond.
The VIRUP project blends observed data with computer simulations in a project billed as the most extensive of its kind to allow extensive visualization of the heavens. Software engineers, astrophysicists and experimental museology experts at the Ecole Polytechnique Federale de Lausanne have come together to concoct the virtual map for individual VR gear, panoramic cinema with 3D glasses, planetarium-like dome screens or just on a PC.
SAN FRANCISCO-RETAIL THEFT
Theft-plagued Walgreens closing 5 more San Francisco stores
SAN FRANCISCO (AP) — Walgreens says it will close five more stores in San Francisco next month because of organized retail theft.
The drugstore chain has closed at least 10 stores in the city since the start of 2019.
San Francisco is fighting an embarrassing reputation for brazen shoplifting. This summer, masked shoplifters carried off armloads of designer handbags from a department store. Last month, the mayor and police chief announced they will dedicate more police to fight retail theft.
Opening, ticket prices announced for Peppa Pig theme park
WINTER HAVEN, Fla. (AP) — A standalone Peppa Pig theme park at the Legoland Florida Resort is scheduled to open Feb. 24.
Park officials also announced ticket prices on Tuesday. A one-day ticket will be $34.99 at the gate and $30.99 online. An annual pass costs $79.99.
The new park is also offering several combo deals for Legoland and its waterpark. The new park will be located near the main Legoland theme park and be separately ticketed. The Peppa Pig theme park will feature rides, interactive attractions, play areas and live shows. It’s based on the popular preschool animated television series, and families visiting the park will be able to meet Peppa and her friends.