January 22, 2021

Business News

BYD Co. , a Chinese car maker backed by Warren Buffett, raised $3.9 billion from a stock sale, joining peers in capitalizing on investors’ bullishness about new-energy vehicles.

The deal marks BYD’s biggest equity financing since it listed in Hong Kong in 2002. The company, whose stock also trades in Shenzhen, makes electric cars, batteries, plug-in hybrids and fossil-fuel-powered vehicles.

Investor enthusiasm about green cars and breakthroughs in battery technology have sent the company’s stock soaring, making it more attractive for BYD to raise new funds. BYD stock in Hong Kong has more than quintupled in a year, giving it

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Jan. 20, 2021 3:44 am ET

Global stocks and U.S. stock futures ticked higher ahead of Joe Biden’s inauguration as president.

Futures tied to the S&P 500 edged up 0.2%. Contracts on the Nasdaq-100 added 0.6%.

In Europe, the Stoxx Europe 600 gained 0.3% in morning trade. Industrials and energy sectors led gains while health care and utilities sectors lost ground.

Shares of Kion Group jumped 2.8% snapping a three-day losing streak and Rotork rose 2.5%.

John Wood Group slipped 3% for a two-session losing streak.

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Jan. 19, 2021 3:43 am ET

U.S. stock futures and international indexes were broadly higher Tuesday ahead of Janet Yellen’s testimony before a Senate committee where she is expected to support higher spending on coronavirus relief.

Futures tied to the S&P 500 gained 0.6%, and contracts linked to the Nasdaq-100 advanced 0.9%.

The Stoxx Europe 600 gained 0.4% in morning trade. Energy and industrials sectors led gains while the consumer discretionary sector lost ground.

EasyJet added 2.7%. John Wood Group declined 3.1%.

The U.K.’s FTSE 100, which is dominated by large international businesses, rose 0.6%.

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It’s been a wild year for commodity markets, marked by despair last spring as the world ground to a halt and followed more recently by exuberance. Nowhere has the bullish feeling been more evident than the usually staid market for liquefied natural gas: February futures for Asian gas hit nearly $20 per million British thermal units last week according to data from Refinitiv. As recently as mid-December, they were only trading around $8 per MMBtu.

Unfortunately for gas producers, today’s prices aren’t sustainable and the longer-term supply picture is bearish. Supply stoppages combined with the coldest winter in Asia

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American consumers have been forced to eat food-delivery costs sometimes nearly as big as the meals themselves. Regulators are fed up.

In addition to new laws boosting compensation and benefits for delivery drivers, restaurant protections such as pandemic-related commission caps have been proliferating at the city and state levels. Consumer protections could be next.

New laws have been costly for delivery players that have been struggling to generate consistent profits lately. On its third-quarter conference call, Uber , which owns and operates Uber Eats, suggested it wouldn’t absorb all of the added costs related to the passage of Proposition 22

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