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Stocks meander lower...PPI and budget figures due...China corruption crackdown

By The Associated Press | Posted - Sep. 11, 2015 at 4:40 a.m.

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UNDATED (AP) — International stock markets mostly drifted lower today despite a tail wind from Wall Street as investors turned their attention to waiting for the Federal Reserve's decision on interest rates next week. Futures point to opening losses on Wall Street. Benchmark U.S. crude oil fell more than a dollar to go below $46 a barrel. The dollar fell against the yen and gained against the euro.

WASHINGTON (AP) — There are two government economic reports due out today. The Labor Department will release the Producer Price Index for August and the Treasury Department will report federal budget figures for August.

BEIJING (AP) — The former boss of one of China's biggest state-owned conglomerates has become the latest senior figure snared in a wide-ranging anti-corruption crackdown. The ruling Communist Party's discipline agency announced today Friday that Song Lin, former chairman of China Resources (Holdings) Ltd., was expelled from the party and turned over to prosecutors. It said he was accused of embezzlement, adultery and taking bribes. Song was fired last year.

BEIJING (AP) — A Nissan joint venture has been fined 123 million yuan ($19.3 million) by Chinese regulators on price-fixing charges in a long-running probe of the auto industry that has snared global automakers. Dongfeng Nissan Auto Sales Co. violated anti-monopoly law by improperly enforcing minimum prices, according to the economic planning agency of the southern province of Guangdong. The company is a joint venture between Nissan Motor Co. and Dongfeng Motor Co., one of China's biggest automakers.

UNITED NATIONS (AP) — The U.N. General Assembly overwhelmingly approved a resolution sparked by Argentina's debt crisis. It sets out nine principles to restructure national debts. The non-binding resolution, adopted Thursday by a vote of 136-6 with 41 abstentions, calls on debtors and creditors "to act in good faith and with a cooperative spirit" to reach an agreement. The United States, Britain, Germany, Canada, Japan and Israel voted against the measure.

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The Associated Press


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