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BEIJING (AP) — Global stock markets were mostly lower today after Wall Street gained yesterday on expectations that U.S. interest rates will stay low. In early trading today, markets in France, Germany and Britain were lower. Tokyo's Nikkei, Hong Kong's Hang Seng and Seoul's Kospi also retreated. On Wall Street, futures for the Dow Jones industrial average and the S&P 500 were down.
WASHINGTON (AP) — Officials say the U.S. may soon tell foreign governments and banks that they can start using U.S. dollars in some instances to facilitate business with Iran. The change could prove significant for Tehran's sanctions-battered economy. The officials say the Treasury Department is considering a general license, permitting offshore financial institutions to access dollars for foreign currency trades in support of legitimate business with Iran. Several restrictions would apply.
WASHINGTON (AP) — There's only one major government economic report scheduled for release today. It's from the Labor Department and covers the number of people who filed unemployment claims last week. Also, Freddie Mac will release the weekly mortgage rates.
BEIJING (AP) — McDonald's says it plans to open 1,500 new restaurants in China, South Korea and Hong Kong as it looks to faster-growing markets to help drive a global turnaround. McDonald's says it also will give local managers more decision-making power to respond to Asian customers. McDonald's is overhauling its business under CEO Steve Easterbrook after acknowledging it failed to keep up with changing tastes.
SACRAMENTO, Calif. (AP) — California state lawmakers are expected today to enact the nation's highest statewide minimum wage, with gradual increases to $15 by 2022. Gov. Jerry Brown and Democratic legislative leaders are promoting the boost as a matter of economic justice, and as an example to a nation struggling with a growing divide between rich and poor. Opponents say the planned votes in the Assembly and Senate will further harm California's already poor business climate.
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