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World shares slip ... Papa John’s founder wants back ... China wants US to stay level-headed

August 2, 2018

BANGKOK (AP) — World shares slipped today, tracking losses overnight on Wall Street, where investors sold industrial stocks following reports that the Trump administration is considering a higher tax rate on Chinese imports. In early trading, Germany’s DAX fell 1 percent and the CAC 40 in France lost 0.3 percent. Britain’s FTSE 100 slid 0.6 percent. Most Asian markets closed down. Dow and S&P futures suggest that Wall Street will open lower.

NEW YORK (AP) — The founder of Papa John’s says the pizza chain needs him back as its public face, and that it was a mistake for the company to scrub him from its marketing materials after he acknowledged using a racial slur last month. John Schnatter (SHNAH’-tur) said in an interview with The Associated Press that he believes he can return to TV and radio ads once the public understands the context of his comments.

BEIJING (AP) — China is appealing to Washington to stay level-headed and “correct its attitude” following a U.S. threat to raise tariffs on $200 billion of Chinese goods in a dispute over technology policy. A Chinese foreign ministry spokesman warned the Trump administration today to “not to try to blackmail China, because it will never work.” The two governments have raised tariffs on billions of dollars of each other’s goods over complaints Beijing steals or pressures foreign companies to hand over technology.

DUBAI, United Arab Emirates (AP) — Videos on social media show Iranians taking to the streets to protest the dramatic drop of the country’s currency and other economic problems. The videos, circulated today, show dozens of demonstrators said to be on the streets west of Tehran, setting fire to police vehicles and shouting “death to the dictator.” Police respond with tear gas. The Iranian rial has dropped to a new record low amid growing concerns of renewed American sanctions, due to kick in on Monday.

LONDON (AP) — The Bank of England is expected to raise its benchmark interest rate for only the second time since the 2008 financial crisis as it weighs a strong jobs market and high inflation against concerns about Brexit. Economists forecast that the bank’s Monetary Policy Committee will raise the rate from 0.50 percent to 0.75 percent, the highest level since March 2009.

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