Socks mixed...Drone maker denies allegations...China angry at US over trade...
SEOUL, South Korea (AP) — Global stocks were mixed today after a technology stocks recovered from heavy selling the day before. An agreement among key crude exporting countries to extend oil production cuts boosted sentiment but weak China factory data tempered appetite for risk. Futures point to a weak start on Wall Street. Benchmark U.S. crude oil rose above $57.50 per barrel. The dollar weakened against the yen and the euro.
BEIJING (AP) — The Chinese company that is the world’s biggest maker of commercial drones is denying claims in a U.S. government document circulated online that it gives Beijing information about American law enforcement and utility companies. DJI Ltd. denied suggestions in the document, posted on technology news websites, that it shared information about U.S. utility companies and other “critical infrastructure” with the Chinese government. A company statement said it doesn’t look at flight logs, photos or video “unless customers actively upload and share them with us.”
BEIJING (AP) — The Chinese government on Friday criticized U.S. opposition to granting Beijing market economy status in the World Trade Organization as reminiscent of the Cold War. A U.S. document released Thursday in Geneva supports the European Union in opposing giving China market status, which would make it harder to win anti-dumping cases against Beijing for exporting goods at improperly low prices.
TOKYO (AP) — Japan’s core inflation rate rose 0.8 percent in October, a slight increase from the month before, while the jobless rate remained steady at a very low 2.8 percent. But lackluster household spending pointed to persisting weakness in the recovery of the world’s third-largest economy. Inflation excluding volatile food prices and energy was only 0.2 percent, suggesting much of the increase in prices was related to energy costs.
COPENHAGEN, Denmark (AP) — Danish conglomerate AP Moller-Maersk says it will invest 21 billion kroner ($3.4 billion) together with British-Dutch oil producer Shell, among others, to redevelop and extend the production life cycle of Denmark’s largest gas field in the North Sea. Maersk, whose oil company is being taken over by France’s Total, said the investment will extend production at the Tyra field, which was slated to close this year, for at least 25 years.