Page 25 - ARUBA TODAY

BUSINESS Friday 3 January 2020
A25

US stock indexes move higher on first trading day of 2020

By ALEX VEIGA FirstEnergy slid 2.1%. barrel. Brent crude, the in-
Associated Press KEEPING SCORE: The S&P ternational standard, was
Stocks moved higher on 500 was up 0.2% as of 11:42 down 19 cents to $65.81
Wall Street in midday trad- a.m. Eastern time. The Dow per barrel.
ing Thursday as U.S. markets Jones Industrial Average CHINA BANKING: China’s
reopened following the rose 152 points, or 0.5%, to central bank said it will
New Year’s Day holiday. 28,690. The Nasdaq com- cut the amount of money
The gains followed a rally posite gained 0.5%. banks will be required to
in overseas markets after LET’S MAKE A DEAL: Anixter have on hand from Jan. 6.
China’s central bank said International climbed 3.3% The move is expected to
it will free up more money after the supplier of com- boost the country’s slow-
for lending. Investors have munication and security ing economy ahead of the
been encouraged in re- products agreed to a high- Lunar New Year, which falls
cent weeks as the U.S. and er buyout offer from private on Jan. 25. Companies and
China have taken steps to A trader works at the New York Stock Exchange, Thursday, Jan. equity firm Clayton, Dubilier individuals typically need
resolve some of their differ- 2, 2020. and Rice. large amounts of cash on
ences in their long-running Associated Press EXECUTIVE EXITS: Shares in hand during China’s most
trade dispute. Washington plans to travel to Beijing at rose 3.8%. Wingstop slumped 4.7% af- important annual holiday
and Beijing announced last a later date to open talks Financial and industrial ter the operator of chicken to pay bonuses, clear debts
month that they reached on other sticking points in stocks also notched solid wing restaurants said its and cover other expenses.
an agreement over a the dispute that remain to gains. American Express chief operating officer, MARKETS OVERSEAS: Major
“Phase 1” trade deal that be worked out, including added 1.3% and General Lawrence Kruguer, will re- indexes in Europe rose. Ger-
calls for the U.S. to reduce Chinese practices the U.S. Electric rose 3%. sign as of March 7. many’s DAX was 1.1% high-
tariffs and China to buy complains unfairly favor its Supermarket operators and BOND YIELDS: Bond prices er, while France’s CAC 40
larger quantities of U.S. farm own companies. household goods makers rose. The yield on the 10- rose 1.2%. Britain’s FTSE 100
products. Earlier this week, Technology companies were among the biggest year Treasury fell to 1.87% added 1%. In Asia, Hong
President Donald Trump accounted for a big slice decliners. Kroger fell 1.8% from 1.91% late Tuesday. Kong’s Hang Seng jumped
tweeted that he will sign of the market’s upward and Kellogg lost 1.7%. ENERGY: Oil prices headed 1.1% and South Korea’s
the initial trade deal with move Thursday. Western Health care and utilities lower, reversing early gains. Kospi lost 1.0%. Tokyo’s mar-
China at the White House Digital climbed 2.6% and stocks also fell broadly. Benchmark U.S. crude oil ket was closed for the New
next month. He also said he Advanced Micro Devices Perrigo dropped 2.4% and fell 25 cents to $60.81 a Year’s Day holiday.q
Isabel dos Santos slams Angolan court for seizing $1 billion

By ANDREW MELDRUM and the cement company which were based on fabri- ure.” She says she succeed- and the country’s educa-
Associated Press Cimangola, according to cated documents.” ed in amassing such wealth tion and health standards
JOHANNESBURG (AP) — Angola’s state news agen- Dos Santos vowed to “use because of her education for its 32 million people are
Isabel dos Santos, who is cy. The move is seen as part all the instruments of Ango- and her business acumen, abysmally low, according
often described as Africa’s of President Joao Louren- lan and international law not because of her father’s to the U.N.
richest woman, has de- co’s anti-corruption drive. at my disposal to fight this connections. In 2016, toward the end of
nounced as “politically mo- Eduardo dos Santos’s 38- order and ensure the truth She now lives outside of his rule, Eduardo dos Santos
tivated” an Angolan court year rule as president was comes out.” Angola because she says appointed his daughter as
order to seize an estimated marked by widespread She heads a vast business she faces death threats at the head of Angola’s state-
$1 billion worth of her assets. corruption in which billions empire, controlling com- home. owned oil firm, Sonangol,
Dos Santos, the 46-year-old of dollars of state funds panies in Angola and Por- Angola has sub-Saharan and it seemed that the dos
daughter of former Ango- went missing, according to tugal. Fluent in Portuguese Africa’s third-largest econ- Santos family would con-
lan President Jose Eduardo investigations by interna- and English, dos Santos omy as a result of its oil and tinue to benefit from the
dos Santos, has a fortune tional financial institutions. describes herself on Twitter diamonds. But Angola’s country’s wealth.q
estimated at $2.2 billion by In a statement Wednes- as an “engineer, entrepre- wealth has failed to bring
Forbes magazine. day on Twitter, Dos Santos neur, investor, public fig- economic development
An Angolan court on Dec. condemned the seizures
23 ordered her bank ac- as a “politically motivated
counts frozen and her attack” against her. She
shares in local companies claimed the trial was held
seized, including ones from in “total secrecy” and she
the Unitel telecommuni- was not able to “answer
cations firm, the BFA bank the trumped-up charges ...