5 Top Stories

Uber Robots in Japan; Apple Under Fire; Ford Slashes Prices

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.

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