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FINANCIAL MARKETS

Asian shares rise after buying mood on Wall Street ends week

TOKYO (AP) — Asian shares are mostly higher today, cheered by a wave of buying late last week on Wall Street that was spurred by strong U.S. jobs numbers and optimism over China-U.S. trade.

Japan's benchmark Nikkei 225 edged up 0.4% in early trading, while Australia's S&P/ASX 200 added 0.4%. South Korea's Kospi edged up 0.3%. Hong Kong's Hang Seng picked up 0.1%. The Shanghai Composite index fell 0.1%.

On Wall Street Friday, the Dow Jones Industrial Average jumped more than 300 points, while the S&P 500 erased losses from earlier in the week, nudging the benchmark index to a second consecutive weekly gain.

The S&P 500 rose 0.9% to 3,145.91. The Dow climbed 337.27 points, or 1.2%, to 28,015.06. The Nasdaq gained 85.83 points, or 1%, to 8,656.53. The Russell 2000 index of smaller company stocks picked up 19 points, or 1.2%, to 1,633.84.

T-MOBILE-SPRINT-ANTITRUST

State AGs look to head off T-Mobile-Sprint deal in court

NEW YORK (AP) — T-Mobile is about to face 14 state attorneys general in court in defense of its attempt to buy Sprint for $26.5 billion.

T-Mobile has already notched approvals from key federal regulators. Starting Monday, it must also convince a federal judge that the state attempt to block the deal is misguided.

A combined T-Mobile-Sprint company would become a fiercer competitor to the larger Verizon and AT&T. But the states argue that having one fewer mobile carrier would cost Americans billions of dollars in higher wireless phone bills.

The trial in U.S. District Court in New York is expected to last several weeks.

CLIMATE-BUSINESS

Big investors up call for governments to take climate action

MADRID (AP) — More than 600 institutional investors managing a whopping $37 trillion in client assets are calling for governments to step up their efforts against climate change.

The investors, including banks, pension funds and insurance companies, directed their message today to countries participating in a two-week U.N. climate conference in Madrid.

Firms such as Britain's Aviva, the California Public Employees' Retirement System and Zurich Insurance Group are demanding an end to thermal coal power plants worldwide, the introduction of a “meaningful” price on carbon, an end to fossil fuel subsidies and for governments to increase planned emissions cuts beyond what has already been pledged.

JAPAN ECONOMY

Japan economy markets 4th straight quarter of growth

TOKYO (AP) — Japan's economy grew at an annual rate of 1.8% in July-September, according to revised government data, better than the modest annual pace of 0.2% it gave as an earlier estimate.

The world's third largest economy has marked the fourth straight quarter of expansion, supported by consumer purchases ahead of a tax hike that kicked in recently.

The better results release Monday from the Cabinet Office reflect higher capital investment. Private consumption was also a tad higher than the initial numbers, and exports did not fall as drastically as first expected.

U.S. GAS PRICES

Average US price of gas drops 1 penny per gallon to $2.65

CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline has dipped 1 penny per gallon to $2.65 over the past two weeks. Industry analyst Trilby Lundberg says Sunday that further cuts to gas prices are unlikely because crude oil costs are on the rise.

The price at the pump is 14 cents higher than it was a year ago.

The highest average price in the nation for regular-grade gas is $3.74 per gallon in San Diego. The lowest average is $2.14 in Tulsa, Oklahoma.

The average price of diesel is $3.06, down a penny.

FRANCE STRIKES

France braces for even worse travel woes, govt seeks answers

PARIS (AP) — France is bracing for even worse transportation woes when the new work week begins because of nationwide strikes. Unions are upset over the government's redesign of the national retirement system. Transport problems continued Sunday as the strikes entered their fourth day.

Unions are calling for even more workers to walk off the job Monday. Warning of safety risks, authorities warned travelers to avoid train stations. Instead of packing platforms for the few trains still running.

French President Emmanuel Macron convened top officials Sunday night to develop a strategy for the high-stakes week ahead. The government says the retirement changes will make the system more fair and financially sustainable but unions fear people will have to work longer for smaller pensions.

GERMANY-LUFTHANSA-LSG

Lufthansa selling European catering business to gategroup

BERLIN (AP) — Lufthansa is selling the European business of its catering and services subsidiary LSG Group to Switzerland-based gategroup for an undisclosed amount.

The German airline says the deal covers LSG's European catering operations as well as its lounge and equipment businesses, packaged food provider Evertaste and retail operator Ringeltaube.

Between them, those businesses have 7,100 employees and had revenue of some 1.1 billion euros ($1.2 billion) last year.

FILM-BOX-OFFICE

'Frozen 2' leads box office again; 'Playmobil' flops

NEW YORK (AP) — “Frozen 2” has blanketed multiplexes for the third straight weekend, continuing its reign on top with an estimated $34.7 million in ticket sales.

According to studio estimates Sunday, the Disney animated sequel has already grossed $919.7 million worldwide. It will soon become the sixth Disney release this year to cross $1 billion.

Rian Johnson's acclaimed, star-studded whodunit “Knives Out" remained in second place with $14.2 million. “Ford v Ferrari," stayed in third place with $6.5 million over its fourth weekend.

The outlaw romance “Queen & Slim” moved up to fourth in its second week with $6.5 million

The STX Films release “Playmobil: The Movie" was never expected to do well, but it bombed so thoroughly that it will rank among the worst-performing wide-releases ever. It grossed $668,000 in 2,337 venues, giving it a per-theater average of just $286.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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