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Global stocks mixed ... Watchdog: World economy picking up speed ... Justice Dept. ending settlement payouts to outside groups

June 7, 2017

BEIJING (AP) — Global stocks have been mixed today following Wall Street’s decline as traders look ahead to British elections. In early trading, France’s CAC 40 and London’s FTSE 100 are up. Germany’s DAX is unchanged. The Shanghai Composite Index closed up, but Tokyo’s Nikkei 225 was unchanged. Hong Kong’s Hang Seng and Seoul’s Kospi fell.

PARIS (AP) — A global watchdog says the world economy is picking up speed but faces big political uncertainties and needs to be reformed to make growth work for a broader swath of people. The Organization for Economic Cooperation and Development predicts in its latest global outlook report that world growth would accelerate from 3 percent in 2016 to 3.6 percent in 2018.

WASHINGTON (AP) — The Justice Department will no longer allow big companies and banks to settle cases by donating to outside organizations. It ends a little-known practice that had become a rallying cry for some conservatives. Attorney General Jeff Sessions says in a memo released this morning that he’s ending the obscure practice that allowed companies to meet some of their settlement burdens by giving money to groups that were neither victims nor parties to a case.

NEW YORK (AP) — Two competing ride-sharing services are teaming up to encourage New Yorkers to share the city’s famous yellow taxis for a discounted fare. Via and Curb, are making the effort to create a new option for people dealing with a subway system that’s overwhelmed by delays, and lessen the impact of Uber and Lyft on the traditional cab business. The New York Times is reporting that the service will eventually include green taxis, which operate in northern Manhattan and the city’s four other boroughs.

NEW YORK (AP) —Macy’s is considering a rooftop addition to its flagship store in New York City’s Herald Square neighborhood. The plan would add restaurants and green space to the roof of the 2.2 million-square-foot building on 34th Street. A Macy’s executive tells the New York Post that the flagship building has become even more valuable as businesses have opened in the nearby Hudson Yards redevelopment, which saw the addition of a new subway station in 2015.

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