02 July

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GSK rejects activist Elliott’s demands for board and consumer business By Reuters

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By Pushkala Aripaka and Ludwig Burger (Reuters) -GSK's board on Friday rejected Elliott's demands that the British company change its board and sell its consumer healthcare arm after separating it from its pharma business, a day after strongly worded proposals from the activist investor. "The Board strongly believes Emma Walmsley is the right leader of New GSK and fully supports the actions being taken by her and the management team," GSK said on Friday, referring to the core pharmaceuticals and vaccine business. It added that support for GSK's strategy and leadership was shown...

02 July

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BMW warns chip supply shortage ‘critical’, output to suffer By Reuters

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FRANKFURT (Reuters) -BMW warned a chip shortage that has plagued the car industry may lead to further lost production, saying on Friday it showed no signs of abating and supply would remain tight in the second half of the year. Production was being halted at various sites, either on a daily basis or individual shifts, Milan Nedeljkovic, BMW board member in charge of production said, adding that lost output was around 30,000 "units" so far this year. He added further shortfalls were possible. "Semiconductor supply is really critical," Nedeljkovic told reporters at an event to mark...

02 July

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London Stock Exchange in ‘strong financial position’, CEO Schwimmer says By Reuters

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LONDON (Reuters) - The London Stock Exchange Group (LON:LSEG) is in a strong financial position with integration of the $27 billion Refinitiv data and analytics company it bought in January on track, Chief Executive David Schwimmer said on Friday. "We're in a strong financial position," Schwimmer told an online investor event. "We remain confident of achieving financial targets we set out when we announced the transaction," he said. ...

02 July

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Payrolls, OPEC Meeting, Global Tax, Robinhood IPO – What’s Moving Markets By Investing.com

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By Peter Nurse Investing.com --Nonfarm payrolls loom large, OPEC remains undecided over production levels, ECB’s Lagarde wants the bond-buying program to remain for now and a global corporate tax rate draws nearer. Here's what's moving markets on Friday, July 2nd. 1. Labour market report looms All eyes Friday are on the U.S. Department of Labor, as it’s nonfarm payrolls day. Despite U.S. consumer prices rising to levels not seen in over a decade, the Federal Reserve has made it clear that interest rates are not going anyway until the jobs market also shows substantial strength. So...

02 July

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Russia says Islamic State building up forces in N. Afghanistan as NATO exits – Ifax By Reuters

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MOSCOW (Reuters) - Islamic State militants are building up their forces in northern Afghanistan as U.S. and NATO troops leave the country and it's a worry for Moscow, the Interfax news agency cited Russian Foreign Minister Sergei Lavrov as saying on Friday. He said Islamic State was actively gaining territory in Afghanistan amid the withdrawal and what he described as the "irresponsible" stance taken by officials in Kabul. ...

02 July

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FTSE 100 median CEO pay falls for fourth year in a row – Deloitte By Reuters

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By Simon Jessop LONDON (Reuters) - The median pay of chief executives at Britain's top companies fell for the fourth straight year to 2.85 million pounds ($3.92 million) in 2020, consultants Deloitte said on Friday. The drop, from 3.3 million pounds in 2019, came as many bosses took pay and bonus cuts in response to the hit to revenues caused by the COVID-19 pandemic, and after pressure from investors to rein in remuneration. Around a third received no bonus in 2020, up from 6% in 2019, while more than half of the CEOs, 55%, will...

02 July

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Farm produce giant Dole Plc files paperwork for U.S. IPO By Reuters

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(Reuters) -Ireland's Dole Plc, a fruit and vegetable grower, has filed paperwork with regulators for a U.S. initial public offering, according to a regulatory filing on Friday. The offering is in connection with the merger between parent Dole Food Co Inc and its Irish peer Total Produce. The proposed listing comes as Dole and Total Produce said in February they would merge to form a U.S.-listed company. Dole's listing is contingent upon the completion of the merger. Dole did not reveal the number of shares it plans to offer or its target price range in its...

02 July

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EU working to allow travel for AstraZeneca’s India vaccine jab, Commission says By Reuters

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BRUSSELS (Reuters) - The European Commission said on Friday it is looking at ways to agree a coordinated approach to accepting the Indian version of AstraZeneca's (NASDAQ:AZN.L) shot, Covishield, across the European Union but will need some time. The Commission reiterated that the jab, which has been given to millions of Britons, is not yet approved by the European Medicines Agency (EMA) or recognised under the EU's new vaccine passport scheme to travel freely within the bloc from July 1. "I don't think you can say that it won't be possible to come to the...

02 July

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Bring in the army: Food group’s call to relieve UK lorry driver crisis By Reuters

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LONDON (Reuters) - Premier Foods, one of Britain's biggest food companies, has called on the government to consider using the army to distribute goods to help relieve a severe shortage of truck drivers. Last week industry leaders warned Britain could face gaps on supermarket shelves this summer and an "unimaginable" collapse of supply chains after the pandemic and Brexit led to a shortage of more than 100,000 heavy goods vehicle (HGV) drivers. At a meeting on Monday between officials from the Department for Environment, Food & Rural Affairs (DEFRA) and food industry representatives, Premier Foods'...

02 July

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ECB’s Lagarde says euro zone recovery still fragile By Reuters

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FRANKFURT (Reuters) -The euro zone economy is beginning to rebound from a pandemic-induced slump but the recovery remains fragile, the European Central Bank's President Christine Lagarde said in an interview published on Friday. ECB policymakers have started to debate when they should dial back their emergency bond purchases, which have pumped over a trillion euros into the financial system since the start of the pandemic. Lagarde signalled she was not ready to wind down the Pandemic Emergency Purchase Programme (PEPP) just yet. "We agreed to maintain (PEPP) until at least March 2022, and in any case,...

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GSK rejects activist Elliott’s demands for board and consumer business By Reuters

BMW warns chip supply shortage ‘critical’, output to suffer By Reuters

London Stock Exchange in ‘strong financial position’, CEO Schwimmer says By Reuters

Payrolls, OPEC Meeting, Global Tax, Robinhood IPO – What’s Moving Markets By Investing.com

Russia says Islamic State building up forces in N. Afghanistan as NATO exits – Ifax By Reuters

FTSE 100 median CEO pay falls for fourth year in a row – Deloitte By Reuters

Farm produce giant Dole Plc files paperwork for U.S. IPO By Reuters

EU working to allow travel for AstraZeneca’s India vaccine jab, Commission says By Reuters

Bring in the army: Food group’s call to relieve UK lorry driver crisis By Reuters

ECB’s Lagarde says euro zone recovery still fragile By Reuters

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