Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.
Uber Launches Robo Deliveries in Japan
The ride-hailing giant [UBER] has announced that it is to start transporting food using autonomous robot couriers in parts of Tokyo. In a partnership with Mitsubishi [6503:T] and Oakland-based robotics start-up Cartken, Uber’s sidewalk robot deliveries will launch in late March. Meanwhile, S&P Dow Jones Indices announced on Tuesday that Uber will be added to the Dow Jones Transportation Average, replacing JetBlue [JBLU].
EV Blues
Bloomberg reported that carmakers have begun compensating leasing companies over the decreasing value of used EVs. For example, Ayvens, the biggest multi-brand leasing firm, has received several payouts in recent weeks. Meanwhile, Ford [F] has cut prices on its Mustang Mach-E electric SUV by as much as $8,100 after a 51% sales drop-off in January.
Apple Under Fire in Europe
Rivals Meta [META] and Microsoft [MSFT] have said that Apple’s [AAPL] plans to open up its software in compliance with the EU’s new Digital Markets Act (DMA) are inadequate. This comes ahead of a €500m fine that EU regulators have said they are planning to impose on Apple. The Cupertino company announced last month that it will make changes to its iOS mobile software in Europe to comply with the provisions of the DMA.
South Korean Tech Giants Close Ranks
Leading display makers LG [066570:KS] and Samsung [005930:KS] are joining forces to resist encroachment from Chinese screen manufacturers. Once a dominant sector player, in 2021 Samsung shuttered its last liquid crystal display factory in China, while LG is currently trying to sell its sole remaining factory there. Chinese upstarts — chief among them BOE Technology [000725:SZ] — are increasingly producing high-end screens.
Amazon Joins DJIA amid Bezos Selling Spree
Amazon [AMZN] will replace Walgreens Boots Alliance [WBA] in the Dow Jones Industrial Average beginning next week, said the S&P Dow Jones Indices on Tuesday. The news bolstered the e-commerce giant’s stock by 1.3% in extended trading, and pushed down Walgreens by 3%. A securities filing revealed founder Jeff Bezos this week unloaded another 14 million shares, worth some $2.4bn, bringing his total sold to 50 million so far this month.
Disclaimer Past performance is not a reliable indicator of future results.
CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.
CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.
*Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.
Continue reading for FREE
- Includes free newsletter updates, unsubscribe anytime. Privacy policy
