Stock markets in Europe, the US, Japan and China closed higher on news that Beijing and Washington were on track to roll back tariffs. Library picture: Donald Trump and Xi Jinping, the US and Chinese presidents, pose for a portrait during a bilateral meeting at the G20 summit in Osaka, Japan, 29 June 2019. Photo credit: White House/Shealah Craighead
Trump fined, Lufthansa strike continues and Disney posts better than expected earnings as it prepares to take on Amazon in Netflix in the streaming video market. Delano’s breakfast briefing for Friday.
Markets up on China-US trade progress
Global financial markets rose on positive US-China news, per Reuters. The Dow Jones and S&P 500 closed at record highs, per Marketwatch, shares in Europe were up, per CNBC, but trading in Asia was mixed, per CNBC. Markets were reacting after the US and China tentatively agreed to roll back punitive tariffs in stages, following what Beijing called “constructive discussions” on deescalating the transpacific trade war, per the Guardian, Reuters and South China Morning Post.
Bloomberg prepares for US presidential run
Michael Bloomberg, the former mayor of New York City and media billionaire, is taking steps to enter the Democratic presidential primary, although he has not taken the final decision to stand for US president. A rep said he is “increasingly concerned” that current candidates cannot beat Donald Trump. Sources: CNBC, Deutsche Welle, New York Times, Reuters and Washington Post.
“What we are currently experiencing is the brain death of Nato,” the French president, Emmanuel Macron, told the Economist in an interview. Macron said Europe could no longer depend on the US for security. The German chancellor, Angela Merkel, rejected the argument, saying “the French president has chosen drastic words,” per Deutsche Welle, Financial Times and the Guardian.
Bank says Tesla factory ought to come to Germany
The investment bank Morgan Stanley said Tesla should select Germany as the site for its European plant over the Czech Republic, Hungary and Poland, per Bloomberg. In August, the Rheinische Post (via Reuters) said the electric carmaker was scouting for locations near Luxembourg.
Lufthansa strike enters day two
The German airline Lufthansa cancelled roughly 700 flights on Thursday and 600 flights on Friday as cabin crew staged a 48 hour strike. Sources: BBC, Deutsche Welle and NPR.
Disney earnings surprise
Shares in Disney rose 5% in afterhours trading after fourth quarter revenue ($19.1bn) and earnings per share ($1.07) beat analyst expectations. Sources: CNBC, Financial Times, Marketwatch and Reuters.
Here are 5 science & technology stories you may have missed
Exploration: Nasa’s Voyager 2 probe has sent back its first data from interstellar space, per Cnet, the Guardian and National Geographic. Automotive: Uber self driving cars were involved in 37 crashes in the 18 months before one hit and killed a woman in Arizona, a government investigation found, per Reuters and The Register. Artificial intelligence: Chinese authorities are pouring money into “emotion recognition systems” to prevent smuggling, terrorism and other crime, but critics call it a “gimmick”, per the Financial Times. Digital media: Google will stop indexing content made with Adobe Flash later this year, as use of the internet software is phased out, per Venturebeat. Physics:The Atlantic explains how lead recovered from ancient sunken ships is helping the search for dark matter.
Quebec denies immigration application over language test
The Quebec provincial government denied Émilie Dubois a residency permit because 20% of her doctoral thesis, written at Laval University in Quebec City on cellular and molecular biology, was in English (the rest was written in French). Authorities said she did not prove that she could speak French. Dubois is a French national who completed all of her previous studies in France. Sources: BBC, CBC and National Post.