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World shares mixed ... Trump administration links gas mileage to risk for drivers ... Fed wraps up meeting today

August 1, 2018

SINGAPORE (AP) — World shares were mixed today on uncertainties over trade, as news the U.S. and China may be working to reopen trade talks was overshadowed by talk of plans for even higher tariffs on Chinese imports. Britain’s FTSE 100 dropped 0.8 percent and Germany’s DAX fell 0.2 percent. France’s CAC 40 rose 0.6 percent. Japan’s Nikkei and Hong Kong’s Hang Seng closed up and the Shanghai Composite index tumbled. On Wall Street, the Dow is expected to open lower and S&P futures are flat.

WASHINGTON (AP) — The Trump administration says people would drive more and be exposed to increased risk if their cars got better gas mileage, an argument intended to justify freezing Obama-era toughening of fuel standards. Transportation experts dispute the arguments, contained in a draft of the administration’s proposals prepared this summer. The excerpts also show the administration plans to challenge California’s long-standing authority to enact its own, tougher pollution and fuel standards.

SEATTLE (AP) — A Texas firm has been blocked for the time being from releasing blueprints to make untraceable and undetectable 3D-printed plastic guns. Austin-based Defense Distributed had reached a settlement with the federal government in June that allows it to make the plans for the guns available for download on Wednesday. A federal judge in Seattle has issued a restraining order putting the release on hold for now. Eight states have filed a lawsuit to block the settlement.

WASHINGTON (AP) — When the Federal Reserve wraps up its latest meeting today, it is likely to point to strong growth in the economy, low unemployment and rising inflation as reasons to stay on its current path of gradually raising interest rates. But it isn’t expected to make any interest rate moves this time. The Fed’s statement may also discuss potential risks from rising trade tensions. The Fed has already raised rates two times this year in March and June and has signaled that it expects to raise two more times in 2018.

NEW YORK (AP) — A Chipotle in Ohio has reopened as county health officials investigate reports of illnesses. The company says it closed the store Monday “out of an abundance of caution.” The Delaware General Health District says it cannot yet confirm anything but that it has received dozens of calls from people reporting illnesses, with many of them mentioning Chipotle. The closure comes as Chipotle works to recover from a series of food scares that sent sales plunging.

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