Monday, September 28, 2020 10:39 AM EST
By The Associated Press, AP
NEW YORK (AP) — U.S. stocks are rallying today, as Wall Street claws back some of its sharp and sudden September losses. At 10:32 a.m. Eastern Time, the S&P 500 was up 56 points, to 3,355. The Dow was up 511 points, to 27,685. And the Nasdaq was up 172 points, at 11,084.
UNDATED (AP) — Two of Facebook’s toughest critics on Capitol Hill are urging that the social media platform get serious about misinformation, voter suppression and hate speech ahead of the 2020 election. In a letter sent Sunday, U.S. Reps. Pramila Jayapal of Washington and David Cicilline of Rhode Island demanded that Facebook immediately remove pages or groups spreading misleading information about voting and posts encouraging people to bring guns to polling places. The company didn’t immediately respond to the letter, but has said it is working hard to stop voting misinformation and incitements to violence on its platform.
PARIS (AP) — France’s government has presented its 2021 budget, a plan that aims to rescue the country’s beleaguered economy from the impact of the coronavirus pandemic by injecting a 42 billion-euro ($49 billion) stimulus next year. Finance Minister Bruno Le Maire says “we are convinced that France can recover, and quickly recover.” France’s economy is expected to shrink 10% this year, in its worst recession since World War II. Earlier this month, French President Emmanuel Macron’s centrist government unveiled a 100 billion-euro ($117 billion) recovery plan aimed at creating jobs and saving struggling businesses. It hopes the economy will grow by 8% next year, boosted by the recovery plan.
THESSALONIKI, Greece (AP) — U.S. Secretary of State Mike Pompeo says the United States will use its diplomatic and military influence in the region to try to ease a volatile dispute between NATO allies Greece and Turkey over energy rights in the eastern Mediterranean. Pompeo began a five-day regional tour in the northern Greek city of Thessaloniki, days after Greece and Turkey committed to restarting a diplomatic dialogue on the dispute that triggered a dangerous military build-up — and fears of military conflict — in the disputed maritime area over the summer.
STOCKHOLM (AP) — Sweden’s largest fuel company is stopping a planned oil refinery expansion that would have made it the country’s biggest emitter of greenhouse gases and could have become a hot potato for Prime Minister Stefan Lofven’s minority government. Preem says the COVID-19 crisis and its effects on the world economy mean that the project is no longer viable. The plan for the refinery in southwestern Sweden had been opposed by Lofven’s coalition partner and by environmentalists, including teenage activist Greta Thunberg.