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TOKYO (AP) — Global shares are mixed today as investors keep an eye on the China-U.S. trade situation and watch for signs of what's in store from central banks. In early trading, France's CAC 40 added 0.2% and Germany's DAX climbed 0.2%. Britain's FTSE 100 added 0.1%. In Asia, Japan's benchmark Nikkei finished down 0.5%, South Korea's Kospi slipped 0.4% and Hong Kong's Hang Seng declined 0.7%. Wall Street is looking for gains today, with Dow and S&P futures each up 0.2%.
WASHINGTON (AP) _ The co-founder of vaping giant Juul says his company never intended its electronic cigarettes to be used by underage teens. Juul Labs co-founder James Monsees testified before a House subcommittee Thursday. House lawmakers are investigating the e-cigarette maker amid a recent explosion of vaping among American youth. Yesterday’s hearing marks the first time the privately held company has been called before Congress.
SEOUL, South Korea (AP) — South Korea’s central bank says that North Korea suffered its worst economic contraction last year in more than two decades due to international sanctions and bad weather. The Seoul-based Bank of Korea says in a statement that North Korea's economy shrank 4.1% last year from a year earlier. The bank says it was the North's second straight year of contraction and the worst performance since 1997, when the economy was estimated to have shrunk 6.5%.
TOKYO (AP) _ Japanese officials say they are pursuing procedures to downgrade South Korea's preferred nation status as Tokyo expands export controls over sensitive materials. Japanese media say that as early as Aug. 2 the Cabinet will approve a plan to drop South Korea from a list of 27 countries granted preferential trade status. The top government spokesman would not confirm the date but says Japan is going ahead as planned. The delisting would take effect three weeks after the Cabinet's approval.
TOKYO (AP) _ Japanese internet company SoftBank Group Corp. has set up a new fund for investing in technologies such as artificial intelligence. SoftBank says the $108 billion Vision Fund 2 includes $38 billion from SoftBank and more from Apple, FoxConn, Microsoft, Japanese banks and other companies. Softbank's earlier Vision Fund 1 came under scrutiny after the killing of Saudi journalist Jamal Khashoggi since some of its funding came from Saudi Arabia. The company says Vision Fund 2 has no Saudi money.
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