Markets gain...Uber cedes China...Bioelectronics initiative

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BANGKOK (AP) — International stock markets were mostly higher today as investors shrugged off disappointing growth data from the U.S. and lackluster but better-than-expected manufacturing figures for China. Futures point to opening gains on Wall Street. Benchmark U.S. crude oil rose but remains below $42 a barrel. The dollar gained against the yen and the euro.

BEIJING (AP) — Uber Technology Ltd.'s main Chinese rival, Didi Chuxing, says it is acquiring the U.S. ride-hailing service's China operations, linking the companies in a business alliance after a costly battle for market share. Today's announcement marked a surrender by another foreign technology brand to intense competition in China. Yahoo and eBay also turned over local operations to Chinese partners or shut down.

LONDON (AP) — Pharmaceutical giant GlaxoSmithKline is forming a joint venture with a unit of Google's parent that will invest 540 million pounds ($714 million) in the relatively new field of bioelectronic medicine. Bioelectronics seeks to treat chronic illnesses using tiny implants to change electronic signals that pass along nerves in the body. GSK and Verily Life Sciences, a subsidiary of Alphabet, have agreed to create a new company known as Galvani Bioelectronics, which will be based in Britain. GSK says it will own 55 percent of the venture, with Verily owning the rest.

LONDON (AP) — A former UBS trader jailed for fraud has warned that former colleagues are at risk of the same behavior because of the pressures to make money. Kweku Adoboli apologized for mistakes that led to losses of 1.4 billion pounds for the bank. But during an interview with the BBC broadcast today, he says it could happen again. He says ex-colleagues are struggling with "the same pressures to achieve no matter what." British regulators fined UBS almost 30 million pounds because controls had been "seriously defective."

WASHINGTON (AP) — There's only one major government economic report scheduled for release today The Commerce Department will issue its report on construction spending for June. Also today, the Institute for Supply Management will release its manufacturing index for July.