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TOKYO (AP) — European shares were higher in early trading today, supported by expectations the European Central Bank is prepared to offer new stimulus to nurse the region's recovery. Gains in Asia were spurred by approval of a cross-border trading link between Hong Kong and Shanghai that will give foreigners greater access to Chinese shares. Futures point to a slightly higher opening on wall Street. Benchmark U.S. crude oil rose but remains below $79 a barrel. The dollar fell against the yen and euro.
BEIJING (AP) — President Barack Obama is imploring world leaders to break stubborn logjams that have held up an agreement on a trans-Pacific trade deal. The agreement is eagerly sought by the White House and could lead to rare consensus with congressional Republicans. Leaders have not set a timetable for finalizing the pact, but have said they're encouraged by recent progress.
WASHINGTON (AP) — Flight attendants at American Airlines have rejected a five-year contract by just 16 votes, complicating the integration of American Airlines and US Airways. The two merged last year to form the world's biggest airline operator. The proposed contract included guaranteed raises but ended a profit-sharing plan. The vote forces the world's largest carrier and its union for cabin-crew workers into binding arbitration. The rejection of the contract affects roughly 24,000 workers.
HONG KONG (AP) — China is opening its stock market wider to foreigners, approving a cross-border trading link Monday that will allow investors in Shanghai and Hong Kong to buy and sell shares on both exchanges. In a joint statement, the China Securities Regulatory Commission and Hong Kong's Securities and Futures Commission said trading via the long-awaited Shanghai-Hong Kong Stock Connect link would start on Nov. 17.
BEIJING (AP) — Russian President Vladimir Putin says Moscow is ruling out capital controls or other "emergency measures" despite a currency plunging due to concern over the Ukraine crisis and falling prices for Russia's main exports of oil and gas. He says Russia has adequate resources to defend the ruble. Russia's central bank has been spending $30 billion a month buying rubles in currency markets. But the bank says today it is scrapping daily controls and allowing the currency to trade freely in financial markets. The ruble has lost nearly half its value against the dollar this year.
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