25 August

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China Reopens Terminal at World’s Third-Busiest Port By Bloomberg

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(Bloomberg) -- The Meishan terminal at China’s second-busiest port reopened Wednesday following a two-week shutdown that further snarled already stressed shipping routes in Asia. The terminal will start the resumption of normal operations Wednesday, a port official said at a press conference in the city of Ningbo. The terminal was about a quarter of the Ningbo-Zhoushan port’s capacity and was shut from Aug. 11 after a worker was found to be infected with Covid-19. The congestion and delays on global shipping routes due to Covid has only worsened this year as Chinese exports hit new records...

25 August

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Global corporate profits to fall 8% in Q3 after record Q2 – data By Reuters

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By Gaurav Dogra and Patturaja Murugaboopathy (Reuters) - Global corporate profits in the third quarter are likely to fall for the first time in 18 months after record earnings in April-June, Reuters calculations showed, as the spreading COVID-19 Delta variant squeezes supply chains and raises labour costs. Massive fiscal stimulus to support economic recovery and loosened pandemic curbs generated high consumer demand in the second quarter, and companies contending with disrupted supplies and falling inventories raised prices to offset James Solloway, chief market strategist at SEI, said a further fall in interest rates could squeeze...

25 August

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Michael Kors owner names former Coach head Schulman as next CEO By Reuters

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(Reuters) - Michael Kors (NYSE:CPRI) parent Capri Holdings said on Tuesday luxury veteran Joshua Schulman would become its chief executive officer in September next year. Shares in Capri rose 5% as analysts praised Capri's decision to bring in the executive credited with a turnaround of Tapestry Inc's Coach brand, which he helmed from 2017 to 2020. Schulman has also been appointed as the head of the Michael Kors brand, effective immediately, and will report to outgoing Capri CEO John Idol. Schulman was the top boss at Jimmy Choo between 2007 to 2012, and has also...

25 August

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Stocks hold gains on easing Fed taper worries as Powell speech awaited By Reuters

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By Alun John HONG KONG (Reuters) - Asian shares held onto their recent gains on Wednesday after last week's pummelling, as global equities rebounded thanks to a combination of positive COVID-19 vaccine news and easing worries over tapering of Federal Reserve stimulus. MSCI's broadest index of Asia-Pacific shares outside Japan was last off slightly, but still up 3.7% so far this week. The index fell to its lowest in 2021 at the end of the previous week. Markets were mixed with Australian shares gaining 0.16%, but Chinese blue chips losing 0.24%. Japan's Nikkei were flat....

25 August

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S.Korea parliament committee votes to curb Google, Apple commission dominance By Reuters

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SEOUL (Reuters) - A South Korean parliamentary committee voted early on Wednesday to recommend amending a law, a key step toward banning Google and Apple from forcibly charging software developers commissions on in-app purchases, the first such curb by a major economy. After the vote from the legislation and judiciary committee to amend the Telecommunications Business Act, dubbed the "Anti-Google law," the amendment will come to a final vote in parliament. That vote could come on Wednesday https://www.reuters.com/technology/skorea-set-curb-google-apple-commission-dominance-2021-08-24, although South Korean news agency Yonhap reported that parliament would act at a later date. A parliament...

25 August

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U.S. New-Home Sales Rise in July, Steadying From Recent Softness By Bloomberg

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(Bloomberg) -- Sales of new U.S. homes rose in July for the first time in four months, helped in part by additional inventory and indicating still-firm underlying demand. Purchases of new single-family homes increased 1% to a 708,000 annualized pace following an upwardly revised 701,000 in June, government data showed Tuesday. The median estimate in a Bloomberg survey of economists called for a 697,000 rate. The report suggests purchases are steadying somewhat after falling to the lowest level since April 2020 in the prior month. While inventory remains limited, an increase in the supply of homes...

25 August

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U.S. House advances Biden’s multi-trillion-dollar domestic agenda By Reuters

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By David Morgan and Susan Cornwell WASHINGTON (Reuters) - The Democratic-controlled U.S. House of Representatives voted on Tuesday to advance key parts of President Joe Biden's agenda, after moderates and progressives reached a compromise allowing them to move forward on the multitrillion-dollar plans. In a party-line 220-212 vote, it approved a $3.5 trillion budget framework to advance progressives' ambitious plans to expand child care and other social programs, and agreed to vote by Sept. 27 on a $1 trillion Senate-passed infrastructure bill that is a top priority for moderate Democrats. House Speaker Nancy Pelosi also...

25 August

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Exclusive-U.S. approves licenses for Huawei to buy auto chips – sources By Reuters

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By Karen Freifeld (Reuters) - U.S. officials have approved license applications worth hundreds of millions of dollars for China's blacklisted telecom company Huawei to buy chips for its growing auto component business, two people familiar with the matter said. Huawei, the world's largest telecommunications equipment maker, has been hobbled by trade restrictions https://www.reuters.com/world/china/exclusive-trump-admin-slams-chinas-huawei-halting-shipments-intel-others-sources-2021-01-17 imposed by the Trump administration on the sale of chips and other components used in its network gear and smartphones businesses. The Biden administration has been reinforcing the hard line https://www.reuters.com/technology/biden-administration-adds-new-limits-huaweis-suppliers-2021-03-11 on exports to Huawei, denying licenses to sell chips to...

25 August

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S&P 500, Nasdaq at Record Highs; House Makes Progress on $3.5T Budget By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 and Nasdaq closed at record highs Tuesday, supported by an climb in energy and consumer discretionary amid easing worries about a slowdown in the global recovery. The S&P 500 rose 0.15% to a closing record of 4,486.23 The Dow Jones Industrial Average gained 0.09%, or 30 points, the Nasdaq climbed 0.52% to a closing record of 15,019.80. Energy continued its bright start to the week, riding another surge in oil prices amid renewed hopes on the oil demand outlook as China begins to ease restrictions after curbing the...

25 August

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U.S. companies including Airbnb, Walmart pitch in on Afghanistan aid By Reuters

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(Reuters) -U.S. companies including Airbnb Inc and Walmart (NYSE:WMT) Inc are lending a hand to the people of Afghanistan after the recent collapse of the U.S.-backed government and takeover by the Taliban militant group. Home rental company Airbnb Inc said on Tuesday it would provide temporary housing to 20,000 Afghan refugees worldwide. The effort will be funded by Airbnb, its chief executive, Brian Chesky, and donations to its charity Airbnb.org, the company said in a blog https:// "We are providing this housing through resettlement agencies and partners, who are in direct coordination with refugees and are...

Меню

China Reopens Terminal at World’s Third-Busiest Port By Bloomberg

Global corporate profits to fall 8% in Q3 after record Q2 – data By Reuters

Michael Kors owner names former Coach head Schulman as next CEO By Reuters

Stocks hold gains on easing Fed taper worries as Powell speech awaited By Reuters

S.Korea parliament committee votes to curb Google, Apple commission dominance By Reuters

U.S. New-Home Sales Rise in July, Steadying From Recent Softness By Bloomberg

U.S. House advances Biden’s multi-trillion-dollar domestic agenda By Reuters

Exclusive-U.S. approves licenses for Huawei to buy auto chips – sources By Reuters

S&P 500, Nasdaq at Record Highs; House Makes Progress on $3.5T Budget By Investing.com

U.S. companies including Airbnb, Walmart pitch in on Afghanistan aid By Reuters

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