BANGKOK (AP) — International stock markets drifted today as the boost from stronger Chinese manufacturing was overcome by Europe’s economic malaise and raids on the Islamic State group’s headquarters in eastern Syria. Futures point to gains on Wall Street this morning. Benchmark U.S. crude oil rose closer to $92 a barrel. The dollar slipped against the euro and the yen.
SHANGHAI (AP) — General Motors Co. expects its sales in China this year to top 3.1 million units and sees no impact on business from an anti-monopoly probe of the industry. The president of the automaker’s China unit says sales growth for GM and its Chinese partners should be slightly ahead of total market growth forecast at 8 to 10 percent. GM and other global automakers are looking to China, the world’s biggest auto market by number of vehicles sold, to drive revenues and are investing heavily to appeal to Chinese tastes.
BERLIN (AP) — Business confidence in Germany, Europe’s largest economy, has dropped for the fifth consecutive month. The Ifo institute said Wednesday that its confidence index dropped to 104.7 points for September from 106.3 last month as the mood among executives darkened regarding both the current situation and the outlook for the next six months. The data continues a slide that has been fueled by the persistent turmoil in Ukraine and sluggish growth in Europe and China.
LOS ANGELES (AP) — The twin ports that handle 40 percent of America’s import trade are mostly back in business today after an idle day brought on by smoke from a fire at an old wooden wharf. The last of the 14 container terminals at the ports of Los Angeles and Long Beach is expected to be reopened this morning. Yesterday, all eight container terminals at the Port of Los Angeles and three of the six at the Port of Long Beach were closed.
SEOUL, South Korea (AP) — Samsung Electronics Co. says its latest Galaxy Note 4 smartphone will go on sale in China and South Korea later this month as its flagging mobile business tries to defend sales from Apple’s new iPhones. Samsung says all three South Korean mobile operators will begin Galaxy Note 4 sales on Friday. All three Chinese mobile carriers will release the new phone before the end of this month. This marks the first time the South Korean company has released a flagship smartphone in China before other major overseas markets. Apple’s phone has yet to arrive in China.
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