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SEOUL, South Korea (AP) — International stock markets are weaker today after a strong U.S. job ads report that added to the case for the Fed's first rate hike in years. Futures point to a modest rebound at this morning's Wall Street opening. Benchmark U.S. crude oil bounced back, rising to near $45 per barrel. The dollar gained against the yen and the euro.
WASHINGTON (AP) —There are two government economic reports today. The Labor Department will release the weekly jobless claims report. Also, the Commerce Department will release a report covering wholesale trade inventories for July. Freddie Mac will also reveal the weekly mortgage rates.
PARIS (AP) — The French government is ending export subsidies for building coal plants abroad, as the country tries to clean up its environmental reputation before hosting landmark U.N. climate talks. Prime Minister Manuel Valls announced Thursday the immediate end to the coal credits, primarily used by French group Alstom, which exports its technology and builds plants in several countries. The government will instead provide subsidies for French companies building renewable energy plants abroad.
BEIJING (AP) — High prices for pork and fresh vegetables pushed up China's inflation in August but to a relatively low 2 percent that leaves Beijing room to stimulate the slowing economy if needed. The rate reported today was an increase over July's 1.4 percent. That was due largely to a 3.7 percent increase in food costs. Producer prices, measured as goods leave the factory, declined 5.4 percent from a year earlier.
BEIJING (AP) — China's auto sales declined in August for a third month but some brands reported gains following a market downturn that shook the global industry. Sales of sedans, SUVs and minivans fell 3.4 percent from a year earlier to 1.4 million vehicles according to the China Association of Automobile Manufacturers. That dragged down the growth rate for the first eight months of the year to 2.6 percent following declines of 6.6 percent in July and 3.4 percent in June. China's auto market has been cooling since growth peaked at 45 percent in 2009.
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