Stocks decline...Free health care...Tax plan maneuvers
TOKYO (AP) — Global shares were mostly lower in muted trading today ahead of the Thanksgiving holidays in the U.S., as gloom carried over from Friday’s retreat on Wall Street. Futures point to a lower opening on Wall Street. Benchmark U.S. crude oil rose but remains below $57 a barrel. The dollar fell against the yen and gained against the euro.
WASHINGTON (AP) — Consumers are getting the word that taxpayer-subsidized health plans are widely available for next year for little or no monthly premium and marketing companies say they’re starting to see an impact on sign-ups. Experts say it’s an unintended consequence of Trump administration actions to undermine the Affordable Care Act. The president stopped reimbursements for those with modest incomes purchasing a “silver” plan. That boosted premiums for silver plans. But government subsidies also shot up, making the less expensive bronze plans even cheaper. Subsidies are pegged to silver plans.
WASHINGTON (AP) — The White House says it’s willing to strike a health-care provision from Senate legislation to cut taxes and overhaul the tax code if the provision becomes an impediment to passing one of President Donald Trump’s top legislative priorities. The provision would repeal a requirement that everyone in the U.S. have health insurance or pay a fine. It’s a major sticking point for Republican Sen. Susan Collins of Maine, who says the issue should be dealt with separately. Senate Republicans can’t afford to lose more than two votes.
TOKYO (AP) — Japan’s exports grew 14 percent over a year earlier in October on strong demand for vehicles, electronics and machinery. However, customs data released today showed even faster growth in imports of oil, gas and coal that caused the trade surplus to fall more than 40 percent from the year before. As China recovers momentum following a slowdown, demand from the region’s biggest economy is helping to breathe fresh life into its neighbors’ economies. Exports are helping to drive a moderate recovery in Japan, the world’s third-largest economy.
MANILA, Philippines (AP) — Philippine President Rodrigo Duterte has offered to China an opportunity to operate a new, third telecommunications carrier in the country. His spokesman says the move is aimed at breaking a telecoms duopoly in a country that is said to have the slowest internet speed in the Asia Pacific. It is unclear if China or any Chinese companies would be keen to take Duterte up on his offer. The market now is dominated by domestic telecoms operators Globe Telecom Inc. and PLDT Inc.