Update on the latest in business:

FINANCIAL MARKETS

Stocks gain ahead of earnings reports

NEW YORK (AP) — Stocks are higher as investors gear up for the busiest week for earnings so far this season.

The S&P 500 was up 0.3%, led by technology companies and banks. Small company stocks outpaced the broader market.

It will be a deluge of earnings for investors this week. Of the 500 members of the S&P 500 index, 181 will report their results this week. The biggest name to report on Monday will be electric car maker Tesla, which will report after the closing bell.

The yield on the 10-year Treasury note rose to 1.57%.

VIRUS OUTBREAK-BIDEN

AP Exclusive: US will share AstraZeneca vaccines with world

WASHINGTON (AP) — The White House tells The Associated Press that the U.S. will begin sharing its entire stock of COVID-19 vaccines from AstraZeneca once the vaccine clears federal safety reviews.

As many as 60 million doses are expected to be available for export in the coming months. The move greatly expands on the Biden administration’s action last month to share about 4 million doses of the vaccine with Mexico and Canada.

The AstraZeneca drug is widely in use around the world but not yet authorized by the U.S. Food and Drug Administration.

VIRUS OUTBREAK-EU-ASTRAZENECA

EU launches legal action against vaccine-maker AstraZeneca

BRUSSELS (AP) — The European Commission says it has launched legal action against vaccine maker AstraZeneca for failing to respect the terms of its contract with the EU.

A Commission spokesman says the reason for the legal action was that “some terms of the contract have not been respected” and that “the company has not been in a position to come up with a reliable strategy to ensure a timely delivery of doses.”

The AstraZeneca vaccine has been central to Europe’s immunization campaign, but the slow pace of deliveries has frustrated the Europeans. AstraZeneca says that it “regrets” the Commission’s decision to take legal action and that it will “strongly defend” itself in court.

VIRUS OUTBREAK-EUROPE-AMERICAN TOURISTS

Continental Europe could allow US tourists back this summer

BRUSSELS (AP) — Officials say the European Union is completing plans to allow American tourists to travel to the 27-nation bloc this summer.

More than a year after the EU restricted travel to the region to a bare minimum in a bid to contain the pandemic, the European Commission said Monday it would make a recommendation to member states to allow American travelers back.

The commission didn’t say when exactly tourists will be allowed back inside the bloc, and if a reciprocal approach will apply to European tourists willing to travel to the U.S.

DURABLE GOODS

Durable goods orders rebound

WASHINGTON (AP) — Orders for big-ticket manufactured goods rebounded 0.5% in March as U.S. factories recovered from frigid February weather disruptions.

The Commerce Department reported that the March increased was the tenth gain in the past 11 months and followed a 0.9% decline in February, a month when much of the country was hit by severe winter storms.

Orders in a closely watched category that tracks business investment plans also rebounded, increasing 0.9% after having fallen 0.8% in February.

SPORTS BETTING-SUPER GROUP

UK firm Super Group entering US sports, online casino market

ATLANTIC CITY, N.J. (AP) — A British company that owns a sports betting and an online casino company is seeking to enter the fast-growing U.S. market.

Super Group says it is joining with Sports Entertainment Acquisition Corp., in a deal that would take the company public in U.S. stock markets. The deal is expected to close in the second half of this year. It was the latest example of how alluring the U.S. market is to sports betting and gambling companies from other nations.

Super Group is the parent company of Betway, an online sports betting brand, and Spin, an online casino company. The company is licensed in 23 countries in Europe, the Americas and Africa.

APPLE-US INVESTMENTS

Apple announces 1st East Coast campus in North Carolina

RALEIGH, N.C. (AP) — Apple plans to invest more than $1 billion in North Carolina to build the company’s first East Coast campus. The move is expected to bring at least 3,000 new jobs to the state.

The company announced Monday that the development is part of an effort to up its U.S. investment as the country recovers from the COVID-19 pandemic.

The North Carolina project falls under a commitment from Apple to invest $430 billion and add a total of 20,000 new jobs over the next five years. Apple is expanding its teams in Colorado, Massachusetts, Texas, Washington, New York, California and other states.

KANSAS CITY SOUTHERN-BIDDING WAR

Kansas City Southern in talks on dueling rail takeover bids

OMAHA, Neb. (AP) — As deal talks begin, Canadian National railroad says it is receiving broad support for its $33.7 billion bid to buy Kansas City Southern.

Canadian National says more than 400 shippers and other stakeholders have submitted letters supporting its offer, including some who previously supported Canadian Pacific’s $25 billion bid to buy Kansas City Southern. That’s similar to the level of support Canadian Pacific says it has received for its offer.

On Friday, Kansas City Southern said it would negotiate with CN about its unsolicited offer because it “could reasonably be expected” to be considered a superior proposal although KCS’ board hasn’t yet determined that it is.

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