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DJ News Highlights: Top Company News of the Day

· 02/05/2021 09:00
Johnson & Johnson Seeks FDA Authorization for One-Shot VaccineTikTok Rival's Stock More Than Doubles in Hong Kong DebutKia Approaches Partners to Build Apple Car in GeorgiaSMIC Says It's Missing Out on the Chip Boom Due to U.S. CurbsAlibaba Sells $5 Billion of BondsPeloton's Expensive Race Against TimeFord Becomes an Unlikely Tech DarlingAmazon Would Likely Pay Even More Tax Under Biden PlanBNP Paribas Posts Smaller-Than-Expected Drop in ProfitAstraZeneca Vaccine Effective Against U.K. Variant in Trial

The vaccine jointly developed by the University of Oxford and AstraZeneca worked against a highly transmissible variant of the coronavirus first spotted in the U.K. in a clinical trial, the university said.

France largest bank BNP Paribas reported a drop in quarterly profit, hurt by record low interest rates and the fallout of the pandemic, but said it expected revenue to bounce back this year as the global economy gradually recovers.

Amazon reported $1.8 billion in current U.S. tax liability for 2020, a departure from the tiny or negative tax costs it posted in prior years. It said a surge in pretax income last year led to the sudden rise in its reported tax expense.

New Chief Executive Jim Farley wants to invest more aggressively in electric vehicles, but he still hasn't fixed Ford's combustion-engine business.

The connected fitness company is scrambling to improve deliveries as recovery from pandemic may alter its value proposition.

Alibaba Group sold $5 billion of bonds, showing investors remain eager to back the Chinese e-commerce giant despite its recent run-ins with authorities.

China's largest chipmaker said restrictions placed by the Trump administration would crimp its pace of growth, despite the booming demand for semiconductors creating a global shortage.

The South Korean auto maker's proposal would involve a multibillion-dollar investment, according to people familiar with the matter. If successful, it would thrust Apple into the car business after several years of secretive work.

Shares in Kuaishou nearly tripled from their IPO price in early trading, implying a market value of more than $160 billion, versus nearly $61 billion when the share sale was priced.

Johnson & Johnson asked regulators to authorize emergency use of its Covid-19 vaccine, setting the stage for a potential third vaccine to become available in the U.S. within weeks.

(END) Dow Jones Newswires

February 05, 2021 09:00 ET (14:00 GMT)

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