Update on the latest in business:


Asian stock markets mixed after Wall Street rises to record

BEIJING (AP) — Asian stock markets are mixed as investors look ahead to a Federal Reserve report for an update on when U.S. stimulus might start winding down. Hong Kong declined while Tokyo and Shanghai advanced.

U.S. futures edged lower while oil prices advanced.

On Monday, the benchmark S&P 500 index rose 0.2%, shrugging off concern about the spread of the coronavirus’s more contagious delta variant.

Investors are waiting for the Fed’s update on the economy and interest rate plans. U.S.-traded Chinese stocks fell after Beijing announced new enforcement measures on technology, real estate and for-profit education.


Senators, White House in talks to finish infrastructure bill

WASHINGTON (AP) — Senators and the White House are locked in intense negotiations to salvage a bipartisan infrastructure deal.

Pressure is mounting on all sides to wrap up talks and show progress on President Joe Biden’s top priority.

Despite weeks of closed-door discussions, senators from the bipartisan group blew past a Monday deadline set for agreement on the nearly $1 trillion package. Instead they’ve run into disagreements over how much money should go to public transit and water projects. But labor issues are also a flashpoint, as is tapping COVID-19 funds to help pay for the package. Biden says he remains optimistic.


Tesla reaches milestone with first $1B quarterly profit

SAN RAMON, Calif. (AP) — Tesla’s quarterly profit has surpassed $1 billion for the first time.

The results come as the electric car pioneer navigated through a pandemic-driven computer chip shortage that has caused major headaches for other automakers. The financial milestone announced Monday extended a two-year run of prosperity that has erased questions about Tesla’s long-term viability raised during its early years of losses and production problems.

Tesla posted a $1.1 billion profit for the April-June period while producing more than 200,000 cars for the first time. But Tesla cautioned its recent momentum could be slowed by a persisting shortage of chips that have become vital parts in modern cars.


Airlines cite concerns about fuel shortages at some airports

NEW YORK (AP) — Bitcoin’s price surged again Monday after speculation that Amazon may be entering the cryptocurrency sector after it posted a job seeking a “digital currency and blockchain product lead.”

Bitcoin jumped more than 12% in the past 24 hours, nearly reaching $40,000 per coin before settling closer to $37,000. The five-week high reached Monday comes after a long slide from an April high of nearly $65,000. There is also speculation that the price surge may have also been partially due to traders buying up bitcoin to fill positions they were short on.


Airlines cite concerns about fuel shortages at some airports

FORT WORTH, Texas (AP) —The fuel needle is moving closer to “empty” at some U.S. airports. That’s according to American Airlines, which is asking pilots to take steps to save fuel.

American is reporting low fuel levels at “several” small to midsize airports, mostly because of a shortage of fuel tankers and drivers. Other airlines are seeing the effects too. Delta Air Lines says it sees a shortage is Reno, Nevada. Southwest says the fuel situation isn’t affecting flights, but it’s adding more fuel on some planes to limit the amount needed at airports with shortages.


Moderna expanding kids vaccine study to better assess safety

WASHINGTON (AP) — Moderna plans to expand the size of its COVID-19 vaccine study in younger children to better detect rare side effects.

The company said Monday it is in talks with the Food and Drug Administration to enroll more study participants under age 12. The announcement comes as U.S. cases are rising and schools are preparing to welcome students back to classrooms.

t the same time, FDA continues to review rare cases of heart inflammation reported in several hundred young people who got the Pfizer or Moderna vaccine. Pfizer is also testing its vaccine in young children. On Monday, the company said that if it makes changes to its testing program, it will provide an update then.


FirstEnergy reevaluates denial of ratepayer funds in bribe

COLUMBUS, Ohio (AP) — Utility giant FirstEnergy Corp. says it’s reevaluating previous denials that the company used customer money to secretly fund a $60 million bribery scheme.

The Akron-based company filed notice with the Public Utilities Commission of Ohio on Friday saying its deferred prosecution agreement with the U.S. Justice Department requires a re-examination of those denials that ratepayers funded the scheme to win legislative approval in 2019 for a $1 billion bailout for two unprofitable nuclear power plants it owned at the time. FirstEnergy agreed last week to pay a $230 million penalty to potentially avoid criminal prosecution.

Copyright © 2021 . All rights reserved. This website is not intended for users located within the European Economic Area.


Sign up for breaking news alerts