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Markets mixed...Fewer Chinese vacationing in US...France says Renault-Fiat Chrysler merge must protect French jobs

May 28, 2019

TOKYO (AP) — Asian stocks mostly rose today but European shares were mixed in muted trading in the absence of major market-driving news about trade negotiations during President Donald Trump’s visit to Japan. France’s CAC 40 lost 0.4% in early trading, while Germany’s DAX slipped 0.3%. Britain’s FTSE 100 inched up nearly 0.1%. Japan’s Nikkei finished 0.4% higher, while Australia’s S&P/ASX 200 gained 0.5%. South Korea’s Kospi edged up 0.2%. Hong Kong’s Hang Seng added 0.4%, while the Shanghai Composite rose 0.6%.

UNDATED (AP) _ Chinese travel to the U.S. is falling after more than a decade of rapid growth. And that has cities, malls and other tourist spots scrambling to reverse the trend. Travel from China to the U.S. fell 5.7% in 2018 to 2.9 million visitors, according to the National Travel and Tourism Office. It was the first time since 2003 that Chinese travel to the U.S. slipped from the prior year.

PARIS (AP) — France’s finance minister says a merger between Renault and Fiat Chrysler will only happen if French jobs are protected. Speaking on RTL radio today, Bruno le Maire said he has asked for “four guarantees” for the deal to go ahead, including that not a single job or factory on French soil will disappear. Fiat Chrysler has proposed to merge with France’s Renault to create the world’s third-biggest automaker, worth $40 billion, and combine forces in the race to make electric and autonomous vehicles.

COPENHAGEN, Denmark (AP) — Scandinavian Airlines says that a six-day pilot strike that led to the cancellation of 4,000 flights and affected more than 370,000 passengers cost the equivalent of $68 million. SAS says that the walkout, which ended May 2 when the sides reached a three-year collective bargaining agreement, “negatively impacted” its second quarter, for which it reported a $125 million loss.

CLEVELAND (AP) _ Cavaliers owner Dan Gilbert is resting comfortably after suffering a stroke. The 57-year-old was hospitalized Sunday after not feeling well and had the stroke while under medical care, Quicken Loans CEO Jay Farner said in a statement released Monday night. Gilbert was immediately taken in for a catheter-based procedure and then moved to recovery in an intensive care unit.

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