Global shares advance…Biden to visit Ford facility
TOKYO (AP) – Global shares advanced today as investors snapped up bargains after recent sell-offs spurred by a worsening of the pandemic in some countries. France’s CAC 40 gained 0.4% in early trading, Germany’s DAX gained 0.5% and Britain’s FTSE 200 added 0.5%. In Asian trading, Japan’s benchmark Nikkei 225 closed 2.1% higher, South Korea’s Kospi gained 1.2%. Hong Kong’s Hang Seng jumped 1.4% and the Shanghai Composite edged up 0.3%. U.S. shares are set for gains, with Dow futures up 0.3% and S&P 500 futures up 0.4%.
BERLIN (AP) – A report by the International Energy Agency says immediate action is needed to reshape the world’s energy sector in order to meet ambitious climate goals by 2050. This includes ending investments in new coal mines, oil and gas wells. The Paris-based agency says in a report that there is a narrow but viable pathway for building a global energy sector with net zero greenhouse gas emissions by 2050. Several countries, including the United States and the European Union, have pledged to stop releasing more planet-warming gas into the atmosphere than can be absorbed by mid-century.
WASHINGTON (AP) – President Joe Biden is scheduled to visit Ford’s electric vehicle center in Michigan today. Ford plans to produce an all-electric version of its F-150 pickup truck. Some companies are looking to Biden’s giant infrastructure proposal to help transform the automotive sector as electric vehicles shift from a luxury niche to mainstream America. Biden’s plan reflects an effort to accelerate certain sectors of the economy with the belief they’ll become the engines for growth in the decades to come.
BANGKOK (AP) – The Thai affiliate of Paris-based insurance company AXA says it is investigating a ransomware attack by Russian-speaking cybercriminals that has affected operations in Thailand, Malaysia, Hong Kong and the Philippines. The hackers claimed to have stolen 3 terabytes of AXA’s data, including personal health and bank account information of customers. AXA Partners has provided few details about the Asia attacks. Meanwhile a hospital system in New Zealand says its systems are not working after a cyber attack by unknown actors. It’s unclear if it’s linked to an attack targeting Ireland’s health service whose systems have been paralyzed by another ransomware gang that is demanding $20 million in ransom.
NEW YORK (AP) – Fidelity is launching a new type of account for teenagers to save, spend and invest their money. The account is for 13- to 17-year-olds, and it will allow them to deposit cash, have a debit card and trade stocks and funds. The teens can make their own trades through a simplified experience on Fidelity’s mobile app, with zero account fees or minimum balances, though the youth account requires a parent or guardian to have their own Fidelity account as well. It’s the latest step in a broad push by the industry to draw more first-time investors into the market.