Stocks up again … Britain to bolster salaries
NEW YORK (AP) — Stocks are rising on Wall Street Friday as talks appear to be continuing in the start-and-stop drive on Capitol Hill to deliver more aid to the ailing economy. The S&P 500 rose 0.6% in the opening minutes of trading, on track for its third straight gain. It’s also on pace to close out its best week since July, following a weekslong run of mostly shaky trading. A spokesman for House Speaker Nancy Pelosi said she and Treasury Secretary Steven Mnuchin spoke late Thursday about the possibility of a comprehensive deal to support the economy. Investors say such stimulus is crucial.

LONDON (AP) — The British government will pay two thirds of the salaries of workers in companies that have to close as a result of new coronavirus lockdown restrictions, which are widely expected to come into effect next week. Treasury chief Rishi Sunak responded Friday to calls from businesses, local leaders and unions to provide a financial support package to prevent mass job losses in sectors that will be subject to new restrictions. Pubs and restaurants in large parts of the north of England, where the coronavirus is spreading fastest, are expected to face a government order to shut their doors again, barely three months after reopening.

TOKYO (AP) — The foreign ministers of Japan and Mongolia have agreed to cooperate in promoting a “Free and Open Indo-Pacific,” a vision that Tokyo is pushing with the U.S. and other “like-minded” countries to counter China’s growing assertiveness in the region. Japanese Foreign Minister Toshimitsu Motegi held talks in Mongolia with his counterpart, Nyamtseren Enkhtaivan. His visit comes after U.S. Secretary of State Mike Pompeo canceled a trip to Mongolia because of President Donald Trump’s COVID-19 infection. Japan and Mongolia also signed a $235 million emergency loan to help the pandemic-hit Mongolian economy and fund medical equipment.
HONG KONG (AP) — Some 637 million Chinese tourists took domestic trips during the eight-day Golden Week holiday, spending the equivalent of tens of billions of dollars at a time when China is seeking to boost consumer spending to stimulate the economy. The holiday, which began Oct. 1, saw more than 45% of China’s population take trips within the country and spend 466.6 billion yuan ($69.5 billion), according to data from China’s Ministry of Culture and Tourism. That marked a decline of 21% for domestic tourists from last year’s Golden Week and a 30% decline for spending. Still the numbers indicate that consumption is beginning to bounce back from the battering it took from the coronavirus pandemic.

SOUTH PORTLAND, Maine (AP) — People in Maine are getting their first opportunity to legally buy marijuana for adult recreational use. But the supply could be thin. Retailers blame the pandemic and a limited number of licensed manufacturers for reducing the variety of products available on Friday, the opening day. Licenses were issued only a month ago and to just seven stores.