Stocks gain...Jobs report...EV charging
HONG KONG (AP) — Most world stock markets were higher today as investors welcomed news that the next Fed chief will be Jerome Powell, seen as a safe choice ensuring continuity at the world’s most influential central bank. Futures point to opening gains on Wall Street. The dollar gained against the yen and the euro. U.S. benchmark crude oil rose to just below $55 a barrel.
WASHINGTON (AP) — U.S. job growth is expected to have soared in October in the aftermath of Hurricanes Harvey and Irma as hotels and restaurants in Florida and Texas reopened and rebuilding and repair work began. Economists surveyed by FactSet have forecast that the government’s jobs report being released Friday morning will show that employers added 310,000 jobs last month. The unemployment rate is projected to remain 4.2 percent, the lowest in 16 years. The Labor Department will release the report at 8:30 a.m. Eastern time.
BERLIN (AP) — Top German automakers and Ford say their joint European electric car recharging network will open its first charging stations this year in Germany, Austria and Norway. BMW, Daimler, Ford and the Volkswagen Group have equal shares in the venture, plans for which were first announced last year. The automakers said today the first 20 high-power charging stations will be opened this year at 120-kilometer (75-mile) intervals along major roads. They plan to expand the network to more than 100 stations.
WASHINGTON (AP) — A $100 billion semiconductor company based in Singapore will legally relocate its home address to the United States. Broadcom Limited, which manufactures communications chips around the world, said it would relocate its legal address to Delaware once shareholders approve the move, bringing $20 billion in annual revenue back to the U.S. The move will allow Broadcom to avoid a cumbersome federal review process. The Oval Office announcement was tied to the release of congressional Republicans’ tax reform proposal.
BOSTON (AP) — Boston College is betting big on the sciences. The private Jesuit school, better known for its philosophy and economics programs, unveiled plans Friday for a $150 million science facility that will bring a new engineering major to campus. School officials are calling it an ambitious step forward that combines the college’s longstanding strength in the liberal arts with its newer expansion into the sciences.