07 September

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Tiny chips cast big shadow over Munich car show By Reuters

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By Nick Carey MUNICH (Reuters) - As carmakers gathered in Munich on Monday to launch almost exclusively zero- or low-emission vehicles, an ongoing semiconductor shortage cast a long shadow over the first major car show since before the pandemic began. Forced to shut down plants last year, carmakers now face increasing competition from the consumer electronics industry for chip deliveries. That problem has been compounded by a series of supply chain disruptions during the pandemic. Cars have become increasingly dependent on chips - for everything from computer management of engines for better fuel economy to...

07 September

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London takes aim at New York with five-year financial plan By Reuters

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By Huw Jones LONDON (Reuters) - Britain needs to ease taxes on banks and make it easier to hire staff from abroad, its financial and professional services lobby said in a blueprint to help London unseat New York as the world's top international financial centre within five years. The strategy paper on Tuesday from TheCityUK reiterated some ideas already aired in government-backed reports and elsewhere in recent months as the City of London looks to recoup ground lost following Britain's departure from the EU. "By some metrics, the UK is losing ground: London is currently slipping...

07 September

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Chinese prosecutors drop case against former Alibaba employee accused of sexual assault By Reuters

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SHANGHAI (Reuters) - Chinese prosecutors have dropped a case against a former Alibaba (NYSE:BABA) Group Holding Ltd employee accused of sexually assaulting a female colleague, saying they had determined he had committed forcible indecency but not a crime. The employee, identified by his surname Wang, was detained by police last month after a female Alibaba employee posted an 11-page account on Alibaba's intranet saying a manager and a client sexually assaulted her during a business trip to eastern China's Jinan city. She said superiors and human resources did not take her report seriously,...

07 September

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MARKET WRAP: FTSE 100 rallies, USD higher as US markets closed By Investing.com

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Key Points FTSE 100 closing price of 7,188.3, +0.7% Shares rally on hopes Fed taper delayed USD rebounds Oil steady in quiet trade with US markets closed Bitcoin breaks resistance, trades above $52,000 By Samuel Indyk Investing.com – The FTSE 100 traded higher on Monday, alongside other major European bourses, on hopes that Fed tapering will be delayed following last week’s nonfarm payrolls report. The weaker than forecast headline should rule out the Fed winding down bond buying at this month’s meeting. There was a lack of corporate news, particularly with US markets closed for the...

07 September

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UK PM Johnson to address lawmakers on social care plan By Reuters

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LONDON (Reuters) - Prime Minister Boris Johnson will address lawmakers on Tuesday on his plans to fix Britain's "broken" social care system, at a time many in his own party are furious that he wants to pay for it by raising taxes, violating an election pledge. For years, British leaders have been trying to find a way to pay for social care without endangering support by hiking taxes. In 2019, Johnson said he had a plan for social care. Under the current care system, anyone with assets over 23,350 pounds ($32,305) pays for their care...

07 September

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Japan’s July household spending rises less than expected By Reuters

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By Kantaro Komiya and Daniel Leussink TOKYO (Reuters) - Japan's household spending grew less than expected in July as a resurgence in COVID-19 cases hindered consumer activity, throwing broader economic recovery prospects into doubt. The world's third-largest economy is struggling to shake off the impact of the coronavirus pandemic, which forced the government to impose new state of emergency restrictions that now cover about 80% of the population. Household spending rose 0.7% year-on-year in July, after a revised 4.3% fall in June, government data showed on Tuesday. That was weaker than a median market forecast for...

07 September

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BMW confident sales in China will increase next year – finance chief By Reuters

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By Christina Amann and Victoria Waldersee MUNICH (Reuters) - BMW is confident that sales in China will increase next year, finance chief Nicolas Peter told Reuters on Monday, attributing high demand for premium cars to travel restrictions that have left consumers with more money to spend. Car sales in China have fallen in recent months as floods, COVID-19 outbreaks and a semiconductor shortage hit the domestic market, but BMW has bucked the trend, reporting a 12% rise in sales there in its second-quarter. "The market will not grow as quickly as it did over the...

07 September

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TV aggregator Roku to launch its players in Germany By Reuters

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BERLIN (Reuters) - Television aggregator Roku Inc said on Monday it would launch its streaming players in Germany later this year, its second big European rollout, seeking to capitalize on a pandemic-driven shift towards watching more video on demand. Roku will offer content from local partners Seven.One Entertainment Group, RTL Deutschland and Comcast Corp (NASDAQ:CMCSA)'s Sky Deutschland, as well as big names Netflix Inc (NASDAQ:NFLX), Amazon.com Inc (NASDAQ:AMZN)'s Amazon Prime and Walt Disney (NYSE:DIS) Co's Disney+. San Jose, California-based Roku started in 2008 by marketing streaming players before developing a proprietary operating system that,...

07 September

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Ryanair ends jet order talks with Boeing amid price dispute By Reuters

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By Conor Humphries and Tim Hepher DUBLIN (Reuters) - Boeing (NYSE:BA) faces a standoff with one of its biggest customers after Ireland's Ryanair said it had ended talks over a purchase of 737 MAX 10 jets worth tens of billions of dollars due to differences over price. The rare decision to go public over big-ticket airplane negotiations comes after months of wrangling that had already delayed a deal for the largest version of the 737 MAX when Ryanair re-ordered a smaller model in December. A large new Ryanair order would provide a boost to the U.S....

06 September

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China to push on with opening capital markets to foreign investors By Reuters

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(Corrects typographical error in CSRC Chairman's name in 3rd paragraph) BEIJING (Reuters) - China will further open its capital markets to foreign investors, the country's top securities regulator said on Monday, adding that it will pursue pragmatic cross-border cooperation to regulate overseas-listed Chinese companies. Global investors have been spooked in recent months by a flurry of Chinese regulations targeting sectors ranging from technology to private tutoring. U.S. plans to kick non-compliant Chinese firms off American exchanges has fuelled concern. "Opening-up and cooperation is the inevitable trend in the integrated development of global capital markets," China Securities...

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Tiny chips cast big shadow over Munich car show By Reuters

London takes aim at New York with five-year financial plan By Reuters

Chinese prosecutors drop case against former Alibaba employee accused of sexual assault By Reuters

MARKET WRAP: FTSE 100 rallies, USD higher as US markets closed By Investing.com

UK PM Johnson to address lawmakers on social care plan By Reuters

Japan’s July household spending rises less than expected By Reuters

BMW confident sales in China will increase next year – finance chief By Reuters

TV aggregator Roku to launch its players in Germany By Reuters

Ryanair ends jet order talks with Boeing amid price dispute By Reuters

China to push on with opening capital markets to foreign investors By Reuters

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