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Muted markets...Brexit plea...Greece bailout plea

October 23, 2017

TOKYO (AP) — Global trading was muted today but Japan’s benchmark rose on the back of a parliamentary election victory by Prime Minister Shinzo Abe’s Liberal Democrats, who had promised stability and growth. Futures point to a slow start on Wall Street. Benchmark U.S. crude oil rose above $52 a barrel. The dollar gained against the yen and the euro.

LONDON (AP) — Five of Britain’s biggest business groups are calling on the government to quickly agree to a transition period of at least two years following the country’s exit from the European Union to provide certainty about regulatory and trade rules as companies make critical decisions for jobs and investment. The draft letter addressed to Brexit Secretary David Davis obtained by Sky News said the economic relationship between Britain and the EU should be “as close as possible to the status quo” during the transition.

ATHENS, Greece (AP) — Bailout negotiators are returning to Greece to try and reach a deal by the end of the year on the terms for the next loan payout, as the debt-plagued country prepares to end eight years of rescue funding programs next summer. At meetings today with finance ministry officials, the envoys from European Union institutions and the International Monetary Fund will start discussions on a long list of demanded reforms. They include reducing state control of public utilities and an extensive review of government spending so that budget surplus targets can be met in 2018.

WASHINGTON, D.C. (AP) — House Republicans, with the urging of President Donald Trump, will strive to pass a budget this week so they can turn their attention to tax reform. Trump warned that action on tax reform is crucial to avoiding political failure in 2018. Trump on Sunday personally implored House GOP members on a conference call to swiftly adopt the budget that was passed last week by the Senate, with the hope of clearing the way for what he described as historic tax cuts.

NEW YORK (AP) — Target says customers want it to pause the “Christmas creep.” It says it wants to be more in tune with customers’ mindset, so it plans to ease in holiday promotions this year while better recognizing Thanksgiving. The retailer’s holiday plans also include a new e-gift service, adding kiosks that focus on impulse presents mainly under $15, and launching a wallet feature to its app. It’s also offering more weekend deals since shoppers do more holiday buying then.

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