BEIJING (AP) — Global stock markets are mixed today after Wall Street rebounded from a three-day slump for tech stocks. In early trading, the FTSE 100 in London lost 0.8% and the CAC 40 in Paris was 0.2% lower. The DAX in Frankfurt advanced less than 0.1%. In Asia, the Shanghai Composite Index closed 0.6% lower. The Nikkei 225 in Tokyo added 0.9%, while the Hang Seng in Hong Kong gave up 0.2%. The Kospi in Seoul advanced 0.9%. On Wall Street, Dow and S&P futures are higher.
HONG KONG (AP) — A Huawei executive says that recent U.S. sanctions against the company have caused a shortage of computer chips for the company, hurting the growth of its smartphone business. Richard Yu, president of Huawei Technologies’ consumer business, said at a company conference for developers today that the company has still managed to gain a 51% market share in the Chinese smartphone industry. The U.S. has imposed various sanctions on Huawei, citing national security concerns. The latest restricts any foreign semiconductor company from selling chips to Huawei that are produced using American technology.
BERLIN (AP) — A German government-backed study suggests streaming high-definition video and games can result in significant greenhouse gas emissions, depending on the technology used. The report published by Germany’s Federal Environment agency calculated the amount of carbon dioxide produced by data centers where material is stored for streaming, and by the transmission technology used to get it to consumers. It concluded that streaming video over fiber optic cables results in the lowest amount of CO2 emissions, while doing so over 3G mobile technology produces 45 times as much. The study found that data centers accounted for only a small share of the overall energy use, though the amount varied significantly depending on how efficiently servers were used and cooled.
BEIJING (AP) — An industry group says China’s car sales rose 6% in August over a year earlier as the industry’s biggest market recovered from the coronavirus pandemic, but purchases for the year to date have fallen more than 15%. The China Association of Auto Manufacturers reports that sales of sedans, SUVs and minivans rose to 1.7 million. Total vehicle sales, including trucks and buses, rose 11.6% to 2.2 million. Auto sales for the first eight months of the year were down 15.4% at 11.3 million, an improvement from the first half’s 22.4% contraction. Total vehicle sales were down 9.7% at 14.6 million.
LONDON (AP) — A senior European Union official is headed to London for an emergency meeting with U.K. officials over Britain’s plan to break part of the Brexit divorce agreement. Britain’s announcement that it plans to break international law by overwriting part of the Withdrawal Agreement has alarmed European leaders and threatens to scuttle already-fragile U.K.-EU negotiations on trade and future relations. European Commission Vice President Maros Sefcovic was due to meet Michael Gove, Britain’s Brexit preparation minister, in a hastily arranged meeting. Sefcovic has said Britain must respect both the letter and the spirit of the legally binding agreement it signed up to less than a year ago.