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Shares skid in Europe and Asia ... Pence to talk to small businesses in OH ... Toshiba’s suing joint venture partner Western Digital

June 28, 2017

HONG KONG (AP) — Shares have skidded in Europe and Asia today as investors fret over the possibility of a policy shift toward tightening by central banks. The delayed health care vote and comments by the U.S. and European central bank chiefs spurred the retreat. Germany’s DAX and France’s CAC 40 are down. Britain’s FTSE 100 is up slightly. Dow futures are nearly flat while S&P futures have inched lower, suggesting a tepid start to trading on Wall Street.

PARIS (AP) — Danish shipping giant A.P. Moller-Maersk, which was hit by malicious software that is crippling computers globally, says it has “contained the issue.” Meanwhile an official in India says operations at a terminal at the country’s busiest container port have been stalled. The malicious software appears to have been sown in Ukraine. In the United States the ransomware attack has affected the drugmaker Merck and Mondelez International and food brands Oreo and Nabisco.

TOKYO (AP) — Toshiba Corp. says it’s suing its joint venture partner Western Digital over the U.S. company’s opposition to a plan to sell the Japanese electronics and energy giant’s memory chip unit. Toshiba says it also wants 120 billion yen ($1.1 billion) in damages for what it calls interference in the effort to sell Toshiba Memory Corp. Financially strapped Toshiba needs the cash from selling its flash memory unit to survive, but Western Digital contends its Japanese partner has no right to sell the memory chip unit without its consent.

CLEVELAND (AP) — Vice President Mike Pence plans today to meet with small business owners in suburban Cleveland. The White House says Pence will also hear from employees at Tendon Manufacturing Inc., a metal fabrication company. He’ll talk about President Donald Trump’s economic agenda and the administration’s priorities for repealing and replacing former President Barack Obama’s health care law.

UNDATED (AP) — An annual survey says presidents of U.S. public colleges and universities saw their earnings climb by 5.3 percent last year, with several of them topping $1 million. The Chronicle of Higher Education’s study of more than 150 college presidents says their average annual pay increased in fiscal year 2016 to $501,000. Topping the Chronicle’s salary ranking was Arizona State University’s president, Michael Crow, who received almost $1.6 million last year.

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