Global stocks fall further ... China calls US arrogant and selfish ... Absence of Toys R Us creates giving gap
BEIJING (AP) — Global stocks fell further today after Wall Street slid on recession fears, putting markets in London, Frankfurt, Shanghai and Tokyo on track to end 2018 down more than 10 percent. In early trading, Germany’s DAX lost 0.5 percent and France’s CAC 40 retreated 0.4 percent. Tokyo’s Nikkei 225 index fell 1.6 percent and the Shanghai Composite Index ended down 0.8 percent. Stocks usually end the year with a flourish. But investors worry global economic growth is cooling and the U.S. could slip into a recession in the next few years.
BEIJING (AP) — China is calling the U.S. arrogant and selfish after it charged two Chinese citizens with stealing trade secrets and other sensitive information from American government agencies and corporations. A foreign ministry spokeswoman is accusing the U.S. of undermining other countries’ development in order to defend its own dominance.
BEIJING (AP) — Chinese leaders are promising tax cuts and more help for entrepreneurs in their 2019 economic plan. Leaders of the ruling Communist Party held an annual planning session as Beijing tries to reverse a deepening downturn in the world’s second-largest economy. The official Xinhua (shihn-wah) News Agency says the plan promises more reforms to state industry and efforts to reduce financial risks.
ALBANY, N.Y. (AP) — Microsoft Corp., CVS Health Corp., Macy’s and two other companies have agreed to review their policies on executive compensation at the request of the New York state pension fund and Comptroller Thomas DiNapoli. Under the terms, the companies agree to consider what they pay all levels of employees as a factor when setting CEO salaries, instead of simply looking at what other CEOs earn. Similar agreements were reached with Salesforce.com and TJX Companies Inc., the parent company of TJ Maxx.
HIALEAH, Fla. (AP) — The recent closure of Toys R Us has created some collateral damage — the Toys for Tots charity drive. More than 250,000 toys donated by consumers and $5 million, 40 percent of corporate giving, came through Toy R Us last year. That’s a hole the annual Marine Corps’ community effort is working to fill.