SINGAPORE (AP) — Asian stocks are mixed ahead of U.S. inflation data offering a glimpse at how the world’s largest economy is recovering.
Tokyo, Shanghai and Sydney were up, while Seoul and Hong Kong declined. Analysts are expecting the latest U.S. headline inflation rate, due today, to grow at a slower pace of 5.3% in July from a year earlier. This is slightly lower than June’s 5.4%.
Air travel fares and used cars were driving past increases, but investors will be looking at food and housing prices in the new data. They are also looking at the spread of the coronavirus and the impact on restrictions to curb transmission of the virus.
As Senate debates Dems’ $3.5T budget, GOP launches attacks
WASHINGTON (AP) — Democrats have started pushing their $3.5 trillion framework for bolstering family services, health, and environment programs through the Senate.
Republicans responded by unleashing an avalanche of amendments aimed at making their rivals pay a price in next year’s elections. But congressional approval of the budget resolution seems assured. It would mark a crucial first step toward enacting the heart of President Joe Biden’s domestic agenda by opening the door to a follow-up bill. In turn, that legislation would channel the government’s fiscal might to assisting families, creating jobs and fighting climate change.
China sentences Canadian to 11 years in case tied to Hauwei
DANDONG, China (AP) — A Chinese court has sentenced Canadian Michael Spavor to 11 years on spying charges in case linked to Huawei Technologies.
Spavor was detained in 2018 after his government arrested an executive of the Chinese tech giant. The verdict is the latest indication of how Beijing is stepping up pressure on Canada ahead of a court ruling on whether to hand over company executive Meng Wanzhou to face U.S. criminal charges.
Spavor and another Canadian were detained in China in what critics labeled “hostage politics” after the executive’s 2018 arrest in connection with possible violations of sanctions on Iran. Another Chinese court earlier rejected the appeal of a third Canadian whose sentence in a drug case was abruptly increased to death.
VOTING COMPANY LAWSUIT
Dominion sues Trump-friendly broadcasters over fraud claims
PHOENIX (AP) —Vote-counting machine maker Dominion Voting Systems is filing defamation lawsuits against right-wing broadcasters and a prominent Donald Trump ally over their baseless claims that the 2020 election was marred by fraud.
The suits filed Tuesday name Newsmax, One America News, their executives and the former Overstock.com CEO Patrick Byrne. Dominion says their false claims that the company rigged the election for President Joe Biden have cost it $1.6 billion in lost profits, company value and reputational damage.
OAN founder Charles Herring did not respond to a message seeking comment. A spokesman for Newsmax says the lawsuit is an attempt to squelch its reporting. Byrne responded with a graphic that did not address the allegations.
Regulator reports new spills along Line 3 construction route
ST. PAUL, Minn. (AP) — Minnesota regulators say there have been more releases of drilling fluid along the Line 3 oil pipeline construction route than previously reported.
According to the Minnesota Pollution Control Agency, there were 28 releases at 12 river crossing locations from June 8 to Aug. 5. In one instance, about 80 gallons of fluid entered the Willow River in Aitkin County. Minnesota Public Radio reports that the agency disclosed details about the releases in a letter to Democratic state lawmakers who requested the information.
Drilling fluid is made mostly of bentonite clay and water. It’s not considered toxic but can impact aquatic life.
ROUNDUP WEED KILLER-CANCER
$86M to California couple upheld in Monsanto pesticide case
SAN FRANCISCO (AP) — A state appeals court has upheld $86.2 million in damages to a Northern California couple who developed cancer after spraying Monsanto’s Roundup in their yards for 30 years.
The San Francisco Chronicle reported Monday that the verdict in favor of Livermore residents Alva and Alberta Pilliod was the third to be upheld by an appeals court that found Monsanto at fault for knowingly marketing a dangerous product.
The court says in its ruling that jurors were entitled to conclude Monsanto knew the herbicide’s active ingredient, glyphosate, could be dangerous and failed to warn the couple. Bayer, Monsanto’s parent company, says it disagrees and is reviewing its options.
US firm agrees to measures to ensure free union vote
MEXICO CITY (AP) — The U.S. parent company of a Mexican factory says it has agreed to ensure a free labor vote amid a battle by workers to unseat an old-guard union.
Philadelphia-based Cardone operates the Tridonex autoparts plant in Mexico’s border city of Matamoros, across from Brownsville, Texas. The export facility was the subject of a complaint filed by labor unions in May under the U.S.-Mexico Canada free trade agreement.
Cardone said in a statement Tuesday that it will work “to ensure a personal, free, and secret vote by employees.” The independent union trying to organize the plant said it had not been consulted about the agreement.
VIRUS OUTBREAK-DUBAI AIRPORT
Dubai’s busy airport sees passenger traffic drop 40% in 2021
DUBAI, United Arab Emirates (AP) — Dubai International Airport is the world’s busiest for international travel. But it’s handled some 40% less passenger traffic in the first half of 2021, compared to the same period last year.
The hub’s chief executive announced the decline today, as more contagious variants of the coronavirus cut off its biggest source markets and continue to clobber the global aviation industry. However, he remains optimistic about the crucial east-west transit point as authorities gradually re-open Dubai’s key routes to the Indian subcontinent and Britain.
The airport saw 86.4 million people squeeze through before the pandemic hit in 2019. It’s held the title of the world’s busiest for the past seven years.