Asian shares rise following broad rally for US stocks
UNDATED (AP) _ Asian shares rose Friday as investors bought back stocks following gains on Wall Street, although worries about a trade dispute between the U.S. and China remained.
Data on Japan’s economy for the April-June period that were better than expected added to the optimism
Technology companies powered stocks broadly higher on Wall Street Thursday, driving the S&P to its best day in more than two months and erasing its losses for the week. The Dow rose more than 370 points.
Trump calls on Fed to make ‘substantial’ rate cuts
WASHINGTON (AP) — President Donald Trump is not letting up on his attacks on the Federal Reserve, calling for “substantial” Fed rate cuts to allow the dollar to fall in value against foreign currencies.
In a series of tweets Thursday, Trump said, “As your president, one would think that I would be thrilled with our very strong dollar. I am not!”
Trump said that the Fed’s high level of interest rates in comparison to other countries was keeping the dollar too strong and making it more difficult for U.S. manufacturers to compete.
The Fed reduced its key policy rate by a quarter-point last week, but Trump is pushing for more interest rate cuts. Those cuts can lower the dollar’s value against other currencies, although other factors are also at play.
Judge: Anti-Kushner bias not cause of Jersey City dispute
Jersey City wasn’t animated by political bias when it took action last year against a real estate project connected to President Donald Trump’s son-in-law, a federal judge ruled Thursday in dismissing a lawsuit brought by a group of real estate companies.
One Journal Square Partners Urban Renewal Co. and affiliates claimed in a lawsuit filed last year that officials in the heavily Democratic city issued a notice of default on the $900 million project out of political retribution because of its connections to Jared Kushner.
Before he was named a senior adviser to Trump in early 2017, Kushner was CEO of the Kushner Companies, a major investor in the companies seeking to build two residential towers and a parking garage in the city’s Journal Square neighborhood.
FBI, Facebook could clash over privacy vs. monitoring
SAN FRANCISCO (AP) — The FBI is looking for outside contractors to monitor social media for potential threats, setting up a possible conflict with Facebook and other companies over privacy.
Last month, the FBI said it is soliciting proposals for a social media “early alerting tool” in order to identify possible threats while making sure that privacy and civil liberties considerations are taken into account. Such a tool would likely violate Facebook’s ban against using its data for surveillance.
The contract solicitation and the potential clash was first reported by The Wall Street Journal on Thursday. It was posted before the most recent mass shootings once again prompted calls for social media companies to do more to detect such threats.
Facebook declined to comment. Twitter did not immediately respond to a message for comment.
JC PENNEY-STOCK WARNING
JC Penney warned that its stock could be thrown off NYSE
NEW YORK (AP) — J.C. Penney Co. says it has been warned that its stock could be removed from the New York Stock Exchange for trading below $1 for too long.
The department store chain, which traces its roots back to 1902, has six months to try and boost its stock price or face being delisted from the NYSE. It said it may seek shareholder approval for a reverse stock split.
One share of J.C. Penney was worth 69 cents Thursday. A year ago, shares traded above $2.
ANIMALS ON PLANES
US lays out enforcement priorities for animals on planes
WASHINGTON (AP) _ The government is telling airlines and passengers how it will enforce rules governing animals that people bring on planes.
The Transportation Department said Thursday that airline employees can bar any animal they consider a safety threat. Airlines, however, can be punished if they ban an entire dog or cat breed, such as pit bulls.
The department’s enforcement office said that it doesn’t plan to stop airlines from asking passengers “reasonable” questions about a service animal’s vaccinations, training and behavior. Airlines can require advance notice if passengers plan to bring an emotional support animal — several already do — but can’t impose the same requirement for service animals such as guide dogs for the blind.
After deadly wrecks, Atlanta bans electric scooters at night
ATLANTA (AP) _ Atlanta is banning electric scooters in the nighttime hours during what’s been a deadly summer for riders.
The ban comes as cities across the nation struggle to regulate the companies renting the devices and keep riders safe.
In Atlanta, three riders have died since May in crashes that involved a public bus, an SUV and a car. Police in the Atlanta suburb of East Point say a fourth rider was killed there Tuesday in a collision involving his scooter and a truck.