BANGKOK (AP) — International stock markets were mostly lower today after Wall Street edged down and the World Bank trimmed its Asian growth forecast. Futures point to a lower opening on Wall Street. Benchmark U.S. crude oil rose to near $90.50 per barrel. The dollar slipped against the yen and edged up against the euro.
NEW YORK (AP) — It’s not Halloween yet but retailers are already looking for signs that their Christmas will be a merry one. The nation’s largest retail industry trade group says it might not be too bad. The National Retail Federation predicts Americans will spend at the highest rate in three years this holiday shopping season. But there’s also expected to be a major divide between so-called haves and have-nots.
BRUSSELS (AP) — The European Union’s competition authority is opening a formal investigation of Amazon’s European corporate income tax practices. The EU’s executive Commission says it is probing whether a tax agreement struck between the online retailer and the government of Luxembourg — where Amazon records most of its European profits — does constitute illegal state aid, distorting competition.
BERLIN (AP) — Government figures show that industrial production in Germany dropped by a bigger-than-expected 4 percent in August. It’s the second disappointing set of data this week from Europe’s biggest economy. Economists had forecast a 1.5 percent decline. The actual drop was the sharpest since early 2009.
NEW YORK (AP) — The NBA is getting a hefty raise from its television partners in an extension of contract rights to broadcast games. The league renewed its deals with ESPN and TNT even though two seasons remain on the old ones. A person familiar with the terms says the NBA’s annual revenue from the agreements will increase from $930 million to more than $2.6 billion. The contracts will run an additional nine years. All sports broadcasting rights fees have been skyrocketing.
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