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Financial News

 

 

Global stocks down…Hearing for SEC pick

 

BEIJING (AP) – Global stock markets are down today after a selloff in U.S. Treasury debt eased, helping to allay concern about a possible rise in interest rates. Tokyo, Shanghai and Hong Kong closed lower and Frankfurt retreated in early trading. London opened higher and the CAC 40 in Paris added less than 0.1%. On Wall Street, futures for the S&P 500 index and the Dow Jones Industrial Average are off 0.5%.

 

UNDATED (AP) – Volvo says it will make only electric vehicles by 2030. But if you want one, you’ll have to buy it online. The Swedish automaker says it is phasing out the production of all cars with internal combustion engines – including hybrids. Volvo’s announcement follows General Motors’ pledge earlier this year to make only battery-powered vehicles by 2035. As part of today’s announcement, Volvo will unveil its second fully electric car, a follow-up to last year’s XC40 Recharge. Automakers around the world are ramping up production of electric vehicles as charging technology improves and governments impose stricter pollution regulations.

 

PARIS (AP) – Global energy-related carbon dioxide emissions rose slightly in December compared with the same month of 2019, indicating the sharp drop seen due to the pandemic was short-lived. Figures released today by the International Energy Agency show emissions from the production and use of oil, gas and coal were 2% higher in December 2020 than a year earlier. The Paris-based agency says a resurgence in economic activity coupled with a lack of clean energy policies mean many countries are now seeing higher emissions than before the coronavirus outbreak. Scientists have previously calculated that CO2 emissions fell by 7% during 2020 as people stayed home because of the pandemic. Carbon dioxide is the main greenhouse gas responsible for global warming.

 

TOKYO (AP) – Two Americans suspected of helping former Nissan Chairman Carlos Ghosn skip bail in Japan and flee to Lebanon in 2019 have arrived in Tokyo for a criminal investigation and likely trial. Michael Taylor and his son Peter, who had been detained in a Boston jail since last May, were handed over to Japanese custody in Boston for extradition. They are to be held in the Tokyo detention center for further investigation. Ghosn, who led Nissan Motor Co. for more than two decades, was arrested in 2018 and charged with under-reporting his future compensation and breach of trust in diverting Nissan money for personal gain. He denies any wrongdoing.