Stocks

Stock futures, oil drop on concerns over new Covid-19 variant

Global equity markets and U.S. stock futures fell after South Africa raised the alarm over a new, fast-spreading strain of the coronavirus, triggering concern about the potential for new travel restrictions or other curbs that could limit economic activity.

Dollar Tree doubles down on pricing items over $1

The discount retailer says the move to $1.25 will allow it to "materially expand its offerings, introduce new products and sizes, and provide families with more of their daily essentials." Additionally, Dollar Tree emphasizes it will be able to reintroduce items that were previously discontinued due to the constraints of the $1 price point.

Authentic Brands raises $3 billion, pushes back IPO

The company behind brands such as Brooks Brothers, Eddie Bauer, and Sports Illustrated magazine plans to delay its initial public offering after getting a big new investment from two private-equity firms.