Stocks slip...Pompeo ‘optimistic’...Chinese telecom chairman denies eavesdropping
NEW YORK (AP) — Stocks on Wall Street and across the world are down following new signs the global economy is weakening. The International Monetary Fund trimmed its economic forecasts for 2019 and 2020 and pointed to risks including trade tensions and rising interest rates. China’s government said its economy grew in 2018 at the slowest pace since 1990. Technology companies skidded, and so did industrial companies, which were hurt by the slower growth forecast as well as some weak fourth-quarter earnings
DAVOS, Switzerland (AP) — Secretary of State Mike Pompeo says he’s “optimistic” that there will be a “good outcome” in upcoming trade discussions with China in Washington. A high-level Chinese delegation is due to arrive in the U.S. capital on Jan. 30 as the two sides seek to strike an accord to end their trade conflict. Pompeo addressed delegates at the World Economic Forum via video-link because of the ongoing government shutdown in the United States.
DAVOS, Switzerland (AP) — The chairman of Chinese telecommunications giant Huawei denies that his company’s technology allows China’s security forces to eavesdrop on customers. And he’s demanding that critics back up the charges. Liang Hua told reporters on the sideline of the World Economic Forum annual meeting in Davos: “If they believe there’s a backdoor, they should offer evidence to prove it.” The United States and other Western countries fear that the maker of smart phones and network gear could design its equipment to let the Chinese government listen in.
MILWAUKEE (AP) — The home of the Milwaukee Brewers will be renamed when MillerCoors’ naming rights expire following the 2020 season. MillerCoors said in a statement that the rights to Miller Park will go to American Family Insurance beginning in 2021.
LANSING, Mich. (AP) — Google’s autonomous vehicle unit Waymo says it plans to bring a factory to Michigan. Waymo made the announcement after the state’s economic development board approved an $8 million incentive grant. The state says the $13.6 million project will create 100 new jobs and potentially 300 more later.