TOKYO (AP) — Global shares are mostly lower today as investors sell to lock in profits from the recent rally. France’s CAC 40 slipped 0.3% in early trading. Germany’s DAX dipped 0.5% and Britain’s FTSE 100 lost 0.2%. In Asia, Japan’s Nikkei 225 finished 0.6% lower and South Korea’s Kospi dropped 0.9%. Hong Kong’s Hang Seng gained 1.1%. Trading was closed in Shanghai for the Lunar New Year holiday. U.S. shares are set to meander with Dow futures little changed and S&P futures up less than 0.1%.
BERLIN (AP) — Pfizer and BioNTech say they have finalized an agreement to supply the European Union with another 200 million doses of their COVID-19 vaccine. The U.S. and German companies say the doses will come on top of the 300 million initially ordered. The EU’s executive Commission has an option to request a further 100 million doses. They say the 200 million doses are expected to be delivered this year, an estimated 75 million of them in the second quarter. The Pfizer-BioNTech vaccine was the first of three so far to be approved for use in the EU, which faces criticism for a slow start to its vaccination campaign.
DETROIT (AP) — Ford says it will spend $1 billion to modernize its Cologne, Germany, manufacturing center, converting it into a European electric vehicle factory. The complex will build an undisclosed electric passenger vehicle in 2023, and it may build a second in the future. Ford is also pledging to offer fully electric or plug-in gas-electric versions of all passenger vehicles in Europe by 2024 and move to all-electric by 2030. Ford predicts that two-thirds of its European commercial vehicle sales will be electric or plug-in hybrids by 2030. The company says commercial vehicles are the key to growth and profitability in Europe, with new products and services through its alliance with Volkswagen. The investment will be made through 2025. The Cologne plant employs just over 4,000 workers.
THE HAGUE, Netherlands (AP) — Retailer Ahold Delhaize says its online sales soared nearly 72% in the final quarter of 2020 as the global pandemic forced many customers to shop from home. Global net sales at the multinational that owns Stop & Shop, Food Lion and Hannaford stores in the United States reached 19.6 billion euros ($23.7 billion). The company says there was a 9 million euro net loss for the quarter, mainly due to previously announced U.S. pension plan withdrawal and settlement agreements totaling 841 million euros.
ATLANTIC CITY, N.J. (AP) — By later this morning, a spot on the Atlantic City Boardwalk where movie stars, athletes and rock stars used to party and a future president honed his instincts for bravado and hype will be reduced to a smoking pile of rubble. The former Trump Plaza casino is to be imploded after falling into such disrepair that chunks of the building began peeling off and crashing to the ground. And the one-time jewel of former President Donald Trump’s casino empire will be gone, clearing the way for a prime development opportunity on the middle of the Boardwalk, where the Plaza used to market itself as “Atlantic City’s centerpiece.”