Global Glance: Global stocks steady as investors await election results; Iran signs preliminary gas deal

Powered by The Associated Press

Here are today’s top business headlines from across the nation and world:

Global stocks steady as investors await election results

BEIJING (AP) — Global stock markets were steady Tuesday, following strong Wall Street gains the day before, as investors focused on the final hours of a tight U.S. presidential race. Germany’s DAX was 0.1 percent lower at 10,449 and France’s CAC-40 was down by the same rate at 4,458. London’s FTSE 100 was stable at 6,805. Wall Street looked set for a subdued opening, with futures for the Dow Jones industrial average and Standard & Poor’s 500 down 0.1 percent and 0.2 percent, respectively. Hillary Clinton appeared to gain an edge over rival Donald Trump but analysts said the race was too close to call and traders hedged their positions. Read more

Iran signs preliminary $4.8B gas deal with Total

TEHRAN, Iran (AP) — Iran on Tuesday signed a preliminary $4.8 billion gas agreement with the French company Total, the first such deal after a nuclear accord with world powers removed international sanctions that had squeezed its petroleum-based economy. The agreement, to be finalized next year, is for new development at the vast South Pars gas field, and aims to produce 1.8 billion cubic feet (56 million cubic meters) of gas per day for domestic consumption and export. Total would have a 50.1 percent stake, the China National Petroleum Corporation would have 30 percent, and Petropars, a subsidiary of Iran’s national oil company, will have 19.9 percent ownership. Read more

China’s October exports fall in new sign of global weakness

BEIJING (AP) — China’s exports fell again in October in a fresh sign that weak global demand is complicating efforts by Beijing leaders to shore up economic growth and reduce reliance on trade and investment. Exports contracted by 7.3 percent from a year earlier to $178.1 billion, an improvement from September’s 10 percent decline, customs data showed Tuesday. Imports fell 1.4 percent to $129.1 billion, compared with the previous month’s 1.9 percent decline. Read more

Windstream to buy EarthLink for about $673 million

NEW YORK (AP) — Windstream is buying rival EarthLink for about $673 million in stock as internet service providers try to bulk up and cut costs with revenue under pressure. Both companies provide internet service, cloud computing and other services. The combined company will keep the Windstream name and be based at its headquarters in Little Rock, Arkansas. EarthLink Holdings Corp. is based in Atlanta. Read more

Tesla inks deal to buy German manufacturing engineering firm

PALO ALTO, Calif. (AP) — Tesla Motors says it has agreed to buy a German engineering company to help automate its electric car manufacturing. The company is buying buy Grohmann Engineering, which Tesla says is a leader in highly automated manufacturing methods. Tesla expects to start building the $35,000 Model 3 electric car next year, and it wants to build 500,000 cars per year in two years. More than 300,000 people have put down deposits to reserve a Model 3. Read more

Want the state’s top business and entrepreneurship news in your inbox? Sign up here for our newsletters.

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students