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World shares down ... A sanctions warning from Moscow ... China auto sales shrink

August 10, 2018

BANGKOK (AP) — World shares fell today ahead of the release of U.S. consumer price data, with European benchmarks sliding in early trading on concerns over Turkey. Wall Street also is expected to open lower, with Dow futures down 0.4 percent and S&P futures also down 0.4 percent.

MOSCOW (AP) — Russia’s prime minister has sternly warned the United States today against ramping up sanctions, saying that Moscow will retaliate with economic, political and unspecified “other” means. The tough message from Dmitry Medvedev marks what the Kremlin sees as a red line, reflecting a growing dismay with the new U.S. sanctions that already has sent the Russian ruble plummeting to its lowest level in two years.

NEW YORK (AP) — Tesla shares have dropped closer to the level they were trading at before CEO Elon Musk tweeted Tuesday that he may take the company private. Shares closed down 5 percent at $352.45 on Thursday, near the Monday close of $341.99 before the tweet. The SEC has reportedly opened an inquiry into the wording and method of Musk’s disclosure about the potential deal.

BEIJING (AP) — China’s auto sales shrank by 5.3 percent in July from a year earlier as SUV demand sagged, adding to signs of economic malaise amid a tariff battle with Washington. The China Association of Automobile Manufacturers says that drivers in the biggest auto market bought 1.6 million sedans, SUVs and minivans. Total sales, including trucks and buses, fell 4 percent to 1.9 million. Demand has cooled amid forecasts of slowing economic growth after Beijing tightened lending controls to cool surging debt.

BERLIN (AP) — Ryanair pilots in several European countries are staging a strike over work conditions that has prompted the budget carrier to cancel 400 flights. Today’s walkouts called by German and Belgian unions account for many of the cancelations, with strikes also called in Sweden and Ireland. The airline said that more than 2,000 flights, or 85 percent of its schedule, would operate as normal and that the majority of passengers affected have been re-booked on other Ryanair services.

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