News / 

Stocks and oil rallies fizzle...Positive jobs forecast...China appeals for deal support



Estimated read time: 2-3 minutes

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

HONG KONG (AP) — International stock markets retreated and oil's rally fizzled today as wary investors awaited U.S. jobs data and braced for Italy's referendum on constitutional reform. Futures point to a lower Wall Street opening. Benchmark U.S. crude oil slipped under $51 a barrel. The dollar slipped against the yen and was flat against the euro.

WASHINGTON (AP) — If forecasts are correct, the economy will be in pretty good shape when President-elect Donald Trump takes over in January. Data provider FactSet reports economists have forecast that employers added a solid 174,000 jobs last month and that the unemployment rate remained a low 4.9 percent. Those figures are far healthier than those President Barack Obama encountered after his election eight years ago

BEIJING (AP) — China is appealing to Washington to avoid injecting politics into the proposed takeover of German tech company Aixtron following a report President Obama plans to oppose it as a security risk. A foreign ministry spokesman, Geng Shuang, says the proposed acquisition by Fujian Grand Chip, a semiconductor maker, is a "normal business activity." He appealed to other governments not to "make any political intervention."

TOKYO (AP) — Calling Tokyo's proposed $20 billion budget unacceptable, IOC vice president John Coates urged Japanese organizers today to find ways to make the 2020 Olympics more affordable. Coates, speaking at the end of a coordination commission review of Tokyo's preparations, said the International Olympic Committee would not accept the budget put forward by Tokyo organizers. He said the games could be delivered for less and the current figure could scare off cities considering bids for future Olympics.

PYONGYANG, North Korea (AP) — North Korea says a sweeping new round of U.N. sanctions aimed at choking its nuclear program by cutting off as much of a quarter of its foreign trade revenue is an "abuse of power" and will be met with tough countermeasures. Vice Foreign Minister Han Song Ryol called a gathering of foreign diplomats in the capital early today to lay out his country's opposition to the sanctions, which are the harshest to date and have the support of China, North Korea's primary trading partner.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The Associated Press

    SIGN UP FOR THE KSL.COM NEWSLETTER

    Catch up on the top news and features from KSL.com, sent weekly.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast