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TOKYO (AP) — Shares are up in early European trading today after the S&P 500 index hit another record high. Germany's DAX added 0.6% while France’s CAC 40 climbed 0.6%. Britain's FTSE 100 picked up 0.5%. In Asia, the Shanghai Composite index closed down 0.9%, Japan's Nikkei 225 index lost 0.5% and Hong Kong’s Hang Seng declined 0.1%. Wall Street is expected to open higher with Dow and S&P futures each up 0.1%.
WASHINGTON (AP) _ President Donald Trump says he will nominate economists Christopher Waller and Judy Shelton to fill two influential positions on the Federal Reserve Board of Governors. Both would have to be confirmed by the Senate. Trump's choices come after he has harshly and repeatedly criticized the Fed under Chair Jerome Powell for choosing not to cut interest rates.
DETROIT (AP) _He was an auto executive who put the Mustang in Ford's lineup in the 1960s and became a corporate folk hero when he resurrected Chrysler 20 years later. Lee Iacocca died Tuesday in Bel Air, California at age 94. In his 32-year career at Ford and then Chrysler, Iacocca helped launch some of Detroit's best-selling and most significant vehicles, including the minivan, the Chrysler K-cars and the Ford Escort. He also spoke out against what he considered unfair trade practices by Japanese automakers.
DUBAI, United Arab Emirates (AP) — A Dubai firm will pay $7.5 million to Six Flags after abandoning plans to build a version of the U.S. amusement park in the United Arab Emirates amid a slowdown in the economy. DXB Entertainments, which runs Dubai Parks & Resorts, says it has agreed with Texas-based Six Flags Entertainment Corp. to pay the amount as "a right of first refusal." In February, DXB Entertainments announced it was cancelling plans to build the $454 million Six Flags, citing financing constraints.
NEW YORK (AP) _ A Montana man has pleaded guilty to defrauding a Canadian financial institution of $43 million by posing as a legitimate business owner. Todd Capser entered the plea Tuesday in Manhattan federal court. Capser was arrested in May in Billings, Montana. Prosecutors say he defrauded a Toronto entity and tried to cheat nine other institutions. The institution was identified in a lawsuit as Third Eye Capital Corp.
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