Global stocks higher…Novavax says good vaccine news
BEIJING (AP) – Global stock markets rose today as investors look ahead to this week’s Federal Reserve meeting for hints of possible changes in ultra-low interest rates and other economic stimulus. In early trading, London’s FTSE 100 rose 0.3% and the DAX in Frankfurt added 0.5%. The CAC 40 in Paris gained 0.6%. In Asia, the Nikkei 225 in Tokyo closed 0.7% higher while the Kospi in Seoul added less than 0.1%. On Wall Street, futures for the benchmark S&P 500 index and the Dow Jones Industrial Average are up 0.1%.
UNDATED (AP) – Vaccine maker Novavax says its shot is highly effective against COVID-19 and also protects against variants. The Maryland-based company says a large, late-stage study in the U.S. and Mexico has found that its vaccine is about 90% effective and that preliminary data also shows it’s safe. Novavax previously released results from smaller studies in Britain and South Africa. The company plans by the end of September to file for emergency use authorization in the U.S., Europe and elsewhere. Novavax’s vaccine is made by growing harmless copies of the coronavirus spike protein in the laboratory.
HONG KONG (AP) – The French joint operator of a Chinese nuclear plant near Hong Kong says it is dealing with a “performance issue” but is currently operating within safety limits, following a report of a potential radioactive leak. The Taishan Nuclear Power Plant is jointly owned by China Guangdong Nuclear Power Group and French multinational electric utility Electricite de France, the main owner of Framotome, which helps operate the plant. Framatome says it is “supporting resolution of a performance issue” at the plant. It says the plant is operating within safety parameters according to available data, and that Framatome is working to “propose solutions to address any potential issue.”
TOKYO (AP) – Two Americans charged with helping former Nissan chairman Carlos Ghosn (gohn) flee Japan while he was facing accusations of financial misconduct have acknowledged they took part in a plot for him to escape the country. The statements by Michael Taylor and his son, Peter on the opening day of their trial in Tokyo suggest the pair don’t plan to fight the charges. The prosecution’s statement accuses the Taylors of arranging for Ghosn to hide in box for musical equipment that was loaded onto a jet that flew him to Lebanon. The Taylors agreed there were no mistakes in the statement. They were arrested in Massachusetts last year and extradited to Japan in March.
MARANELLO, Italy (AP) – From fast cars to fashion. Ferrari V12 production cars were suspended over the factory floor in Italy Sunday night, as the 74-year-old luxury carmaker launched a new era as a lifestyles brand. The Italian company famed for its Formula 1 racing machines and luxury street cars unveiled its first ready-to-wear collection aimed at a younger generation. The fashion line by creative director Rocco Iannone included structured outwear, daywear and footwear. Ferrari says the runway collection is part of a brand diversification project that could contribute up to 10% of Ferrari’s bottom line within a decade.