World stocks mixed … Trump’s Fed choice steps aside … May faces new Brexit pressure
SINGAPORE (AP) — World stocks were mixed today ahead of the release of U.S. housing data and more earnings reports. Oil prices soared to their highest level since October on supply fears, after the Trump administration said it would soon impose sanctions on all buyers of Iranian oil. France’s CAC 40 dropped 0.2% while Britain’s FTSE 100 was up 0.4%. The DAX in Germany was 0.1% lower. Japan’s Nikkei 225 index was 0.2% higher and the Kospi in South Korea added 0.2%. Wall Street is set for a flat open, based on Dow and S&P futures.
WASHINGTON (AP) — President Donald Trump says Herman Cain has withdrawn from consideration for a seat on the Federal Reserve’s board amid a focus on past scandals. Cain is a former CEO of Godfather’s Pizza who dropped out of the 2012 presidential race amid allegations of sexual harassment and infidelity. The issues resurfaced after Trump said he intended to nominate Cain to the central bank’s board of governors.
LONDON (AP) — British Prime Minister Theresa May is facing renewed pressure from her restive Conservative Party to resign as lawmakers return to Parliament — and to Brexit wrangling — after an 11-day Easter break. Britain’s European Union exit, long scheduled to take place last month, has been delayed as the government tries to win Parliament’s backing for a divorce deal.
BERLIN (AP) — A U.N. panel overseeing compensation claims by countries and organizations affected by Iraq’s 1990-1991 invasion of Kuwait says it has paid $240 million to the Gulf state’s national oil company. The United Nations Compensation Commission says the latest tranche brings to $48.3 billion the amount it has paid out since 2005. Iraq must currently set aside 1.5% of its oil export sales for the compensation fund.
SAN FRANCISCO (AP) — Samsung is pushing back this week’s planned public launch of its highly anticipated folding phone after reports that reviewers’ phones were breaking. The company had been planning to release the Galaxy Fold on Friday. Several journalists reported issues with the phones last week while testing review copies. The Galaxy Fold has a $2,000 price tag.