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February 26, 2021
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March 1, 2021
Financial News

 

 

Global shares higher…J&J vaccine on its way

 

TOKYO (AP) – Global shares rose today, lifted by hopes President Joe Biden’s stimulus package will be enacted and by bargain-hunting after sell offs last week. In early trading, France’s CAC 40 added 1.5%, while Germany’s DAX edged up 1.3%. Britain’s FTSE 100 jumped 1.6%. In Asian trading, Japan’s Nikkei finished 2.4% higher, Hong Kong’s Hang Seng advanced 1.6%, while the Shanghai Composite rose 1.2%. Wall Street is set for gains, with Dow futures up 1.1% and S&P futures up 1.2%.

 

UNDATED (AP) – Nearly 4 million doses of the newest COVID-19 vaccine are headed to states for injections starting on Tuesday. The White House says the entire stockpile of the newly approved single-dose Johnson & Johnson vaccine went out Sunday night. J&J will deliver about 16 million more doses by the end of March and 100 million total by the end of June, but the distribution would be backloaded. Though the new shot is easier to administer and requires only one dose, the administration is not altering its distribution plans.

 

GENEVA (AP) – The new head of the World Trade Organization is throwing her support behind long-fruitless efforts to reduce overfishing as she took office today. Director-General Ngozi Okonjo-Iweala (en-GOH’-zee oh-KON’-joh ih-WAY’-luh), a Nigerian economist and former government minister, doled out elbow bumps as she took up the job at WTO headquarters in Geneva today. She says a top priority is to strike a deal among member countries on fisheries subsidies that could help reduce overfishing. Discussions on the issue have gone on for 20 years at the WTO, which works to craft accords that can ensure smooth international trade.

 

BEIJING (AP) – Two surveys show China’s manufacturing recovery weakened for a third month in February as exports and new orders declined. A monthly purchasing managers’ index issued by a prominent business magazine (Caixin) declined to 50.9 from January’s 51.5 on a 100-point scale on which numbers above 50 show activity accelerating. A separate PMI issued by the Chinese statistics agency and an official industry group, the China Federation of Logistics & Purchasing, retreated to 50.6 from 51.3. Manufacturers received a boost from China’s relatively early reopening after the coronavirus outbreak. But sales have been hurt by unease among Chinese consumers about the economic outlook and renewed disease outbreaks abroad that have prompted governments to reimpose business and travel curbs.

 

BERLIN (AP) – Companies that sell refrigerators, washers, hairdryers or TVs in the European Union will need to ensure those appliances can be repaired for up to 10 years. The new “right to repair” comes into force across the 27-nation bloc today. It is part of a broader effort to cut the environmental footprint of manufactured goods by making them more durable and energy efficient. Consumer groups say modern appliances are often hard to dismantle and spare parts aren’t always available. Under the new EU rules, manufacturers will have to make parts available for up to a decade, ensure appliances can be opened without special tools and provide repair manuals.