January 20, 2021

Business News

International stock markets mostly rose, as investors anticipated higher government spending under a Democratic-controlled Senate and largely looked past political violence in Washington, D.C.

Indexes in Japan and Australia both gained 1.6% Thursday, while South Korea’s Kospi Composite rose 2.1% to a fresh record high. In China, the Shanghai Composite Index added 0.7% to close at 3576.2, its highest in more than five years.

Futures suggested that U.S. stocks could advance on Thursday, with futures tied to the Dow Jones Industrial Average, S&P 500 and Nasdaq-100 rising between 0.4% and 0.8%.

Most major U.S. indexes, except the Nasdaq, had

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The yield on the benchmark 10-year U.S. Treasury note hit 1% for the first time since March, after returns from Georgia’s closely watched runoff elections fueled bets that Democrats could win narrow control of the Senate.

By midafternoon in Hong Kong on Wednesday, the yield on the benchmark 10-year U.S. Treasury note was 1.019%, according to Tradeweb, up from 0.955% at its 3 p.m. ET close on Tuesday.

Democrat

Raphael Warnock

defeated incumbent Kelly Loeffler in one of the Georgia runoffs, according to the Associated Press, while a second race remained too close to call.

Yields, which rise when bond

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The New York Stock Exchange reversed its decision to delist China’s three largest telecommunications companies, after consulting with regulatory authorities about a recent U.S. investment ban.

In a statement released Monday night Eastern time, the Big Board said “it no longer intends to move forward with the delisting action” on China Mobile Ltd., China Telecom Corp. and China Unicom (Hong Kong) Ltd.

The Hong Kong-listed shares of the three telecom majors surged on the news. Shares of China Mobile, which is among the most valuable of China’s listed state-owned enterprises, rose as much as 7.5% in late morning trade on

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Entain, which owns the British gambling brand Ladbrokes, said Monday that it has received an £8.09 billion takeover proposal, equivalent to $11.06 billion, but said that offer significantly undervalues the company. MGM’s bid has the financial backing from its largest shareholder,

IAC/InterActiveCorp,


IAC 1.00%

according to people familiar with the matter, and comes after an earlier roughly $10 billion all-cash overture for Ladbrokes was rebuffed.

A combination could create one of the few large gaming companies in the world with a significant online and bricks-and-mortar presence. It would follow other recent consolidation in the industry.

Like its peers, MGM

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A record quarter for

Tesla


TSLA 1.57%

isn’t as speedy as it seems.

Tesla announced on Saturday morning that it delivered 180,570 cars world-wide in the fourth quarter, setting a new company record. That brings the 2020 total just shy of 500,000, in line with the company’s most recent guidance. The company also said it would soon begin to deliver its China-produced Model Y crossover vehicle to customers.

While hitting guidance is certainly good news, it hardly represents a towering operational feat that should dazzle Wall Street. For starters, meeting operational forecasts is a routine event for most members

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The New York Stock Exchange will delist China’s three large telecom carriers, after a U.S. government order barring Americans from investing in companies it says help the Chinese military.

The NYSE decision is the latest setback for U.S. investors in these companies, which rank among the largest global telecommunications providers but have largely lagged behind the broader markets since the companies began listing here more than two decades ago.

The exchange’s decision is unlikely to seriously harm the Chinese telecom giants in the near term. Mounting pressure from Washington has already stymied their ability to operate in the U.S.,

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