Stocks open higher…Tesla shares fall…Ransomware arrests
NEW YORK (AP) – Stocks are starting the week higher again, continuing an upward trend that has pushed the S&P 500 to five straight weekly gains. The benchmark index was up 0.2% in the early going. The Dow Jones Industrial Average was up 0.4% and the Nasdaq added 0.3%. Small-company stocks outpaced the rest of the market.
NEW YORK (AP) – Tesla shares fell 2.3% after its CEO Elon Musk said he would sell 10% of his holdings in the electric car maker – more than $20 billion worth, by most calculations – based on the results of a poll he conducted on Twitter over the weekend. According to analyst Dan Ives of WedBush Securities, Musk owns about 23% of Tesla’s stock and has about $10 billion in taxes coming due to stock options that vest next summer. Much of Musk’s wealth is held in shares of Tesla, which does not pay him a cash salary.
WASHINGTON (AP) – Two suspected hackers accused of ransomware attacks resulting in 5,000 infections have been arrested as part of a global cybercrime crackdown. That’s according to an announcement from Europol. The two individuals were not identified by name, but Europol says they were arrested last week by Romanian authorities.
CHARLES DE GAULLE AIRPORT, France (AP) – The U.S. is lifting restrictions on travel from a long list of countries including Mexico, Canada and most of Europe, setting the stage for emotional reunions nearly two years in the making and providing a boost for the airline and tourism industries decimated by the pandemic. New rules go into effect today that allow nonessential travel across America’s land borders for vaccinated visitors. They also allow air travel from a series of countries from which it has been restricted.
LOUISVILLE, Ky. (AP) – A criminal fraud trial that is getting under way today in Kentucky aims to determine whether four officials of the now-bankrupt Armstrong Coal company skirted federal rules meant to reduce deadly coal dust in underground mines. Federal prosecutors say they ordered workers at two Kentucky mines to rig dust-monitoring equipment to pass air quality tests. Attorneys for the former managers and a supervisor at Armstrong say they’re innocent of the charges.