30 June

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UK wins financial services carve-out from new global tax rules – FT By Reuters

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LONDON (Reuters) - Britain is set to secure an exemption for financial services from a new global tax system which was agreed by the Group of Seven economies to squeeze more money out of multinationals like Google (NASDAQ:GOOGL), the Financial Times said on Wednesday. Reuters had reported earlier this month that British finance minister Rishi Sunak was pushing for financial service firms to be exempt to help protect the City of London's largest banks from paying more tax. The FT said the Organisation for Economic Co-operation and Development, which is leading the reform of the...

30 June

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U.S. dollar posts best month since November 2016; nonfarm payrolls loom By Reuters

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By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - The dollar rose to a 2-1/2-month peak on Wednesday, posting its biggest monthly rise since November 2016, supported by a surprisingly hawkish shift in the U.S. Federal Reserve's rate outlook and concern over the spread of the Delta coronavirus variant. The dollar has gained about 3% against a basket of currencies this month, partly in the wake of the Fed's stance at a meeting early this month. Traders are looking to Friday's U.S. nonfarm payrolls report for confirmation of a shift in monetary policy. The greenback also extended gains...

30 June

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Micron Earnings, Revenue beat in Q3 By Investing.com

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Micron (NASDAQ:MU) reported on Wednesday third quarter earnings that beat analysts' forecasts and revenue that topped expectations. Micron announced earnings per share of $1.88 on revenue of $7.42B. Analysts polled by Investing.com anticipated EPS of $1.7 on revenue of $7.2B. Micron shares are up 13% from the beginning of the year and are trading at $84.71 , down-from-52-week-high.They are broadly in line with the Nasdaq which is up 12.54% from the start of the year. Micron shares lost 0.36% in after-hours trade the report. Micron follows other major Information Technology sector earnings this month...

30 June

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S&P 500 Ends First Half of 2021 at Record; Investors See More Gains Ahead By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 closed at a record again Wednesday, wrapping up a positive end to the first half of the year following a stronger private jobs report, with investors touting further market gains for remainder of the year. The S&P 500 rose 0.20% to a record intraday level of 4,297.32 , and is up more than 15% for the year. The Dow Jones Industrial Average was up 0.61%, or 210 points, the Nasdaq was down 0.17%. Private payrolls increased 692,000, beating the consensus estimate of 600,000, as the reopening of the...

30 June

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More work ahead to secure broader agreement on G7 tax initiatives – UK official By Reuters

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WASHINGTON (Reuters) - Britain believes there is more work needed to secure broader agreement on international tax commitments made by G7 wealthy democracies in the coming weeks and months, a senior UK official said on Thursday. Jonathan Black, Britain's G7 and G20 sherpa, told an online forum hosted by the Center for Strategic and International Studies in Washington that it will be naturally more challenging to win consensus among G20 major economies for G7 agreements on a global minimum corporate tax and new methods of taxing large multinational firms. "The prize is huge. I think...

30 June

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Kaplan Says Fed Will Avoid 2013 Taper Tantrum This Time Around By Bloomberg

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(Bloomberg) -- The Federal Reserve’s tapering of its asset purchases, which he hopes will start “soon,” will run smoother this time around because investors already know that a move is being discussed, said Federal Reserve Bank of Dallas President Robert Kaplan. “I want it to get out into the market, and I think this debate we’re having at the FOMC, some of it publicly, is good,” Kaplan said Wednesday in an interview with Michael McKee on Bloomberg Television, referring to the Federal Open Market Committee. “People are on notice that these adjustments are coming, the...

30 June

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World Wide Web source code NFT sells for $5.4 million at Sotheby’s By Reuters

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By Elizabeth Howcroft LONDON (Reuters) - A blockchain-based token representing the original source code for the World Wide Web written by its inventor Tim Berners-Lee sold for $5.4 million at Sotheby's in an online auction on Wednesday, the auction house said. The source code was sold in the form of a non-fungible token (NFT) - a kind of crypto asset https://www.reuters.com/article/crypto-currency-nft-idCNL4N2LE3VG which records ownership of digital items. The NFT was created by the English scientist Berners-Lee in 2021 and represents ownership of various digital items from when he invented the World Wide Web in 1989, including...

30 June

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Volvo Cars aiming for an IPO by the end of 2021 By Reuters

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By Paul Lienert (Reuters) -Volvo Cars is "making good progress" toward a potential initial public offering by the end of this year, the chief executive of the Swedish premium auto brand told Reuters on Wednesday. "We are looking at the possibility of doing an IPO before the end of the year," listing shares on the Nasdaq Stockholm exchange, Volvo Cars CEO Hakan Samuelsson said in an interview. Samuelsson and other Volvo Cars executives on Wednesday laid out an extensive road map to becoming a fully electric car maker by 2030, including plans to sell 600,000...

30 June

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AMD Rises on Price Target Hike By Investing.com

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By Christiana SciaudoneInvesting.com -- Advanced Micro Devices Inc (NASDAQ:AMD) jumped more than 4% after Bank of America (NYSE:BAC) bumped its price target higher. Analyst Vivek Arya raised the price target to $120 from $110, StreetInsider reported. The company has demonstrated its supercomputing success with increasing market share and an endorsement by Google (NASDAQ:GOOGL). These two events suggest break-out potential in AMD’s data center segment, Arya said. The analyst maintained a buy rating on the stock. Even if there are supply constraints, the improving mix towards data centers could provide catch-up potential, Arya wrote in a note....

30 June

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S&P 500 Flirts With Record High as Cyclical Stocks Ride Jobs Data Higher By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 remained near record highs Wednesday as cyclical stocks including energy and industrials were boosted by signs of an improving employment markets ahead of the monthly jobs report due later this week. The S&P 500 rose 0.1% to remain close to its intraday record high of 4,300.52. The Dow Jones Industrial Average was up 0.49%, or 167 points, the Nasdaq was down 0.14%. Private payrolls increased 692,000, beating the consensus estimates of 600,000, as the reopening of the economy drove up job gains in the leisure and hospitality sector....

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UK wins financial services carve-out from new global tax rules – FT By Reuters

U.S. dollar posts best month since November 2016; nonfarm payrolls loom By Reuters

Micron Earnings, Revenue beat in Q3 By Investing.com

S&P 500 Ends First Half of 2021 at Record; Investors See More Gains Ahead By Investing.com

More work ahead to secure broader agreement on G7 tax initiatives – UK official By Reuters

Kaplan Says Fed Will Avoid 2013 Taper Tantrum This Time Around By Bloomberg

World Wide Web source code NFT sells for $5.4 million at Sotheby’s By Reuters

Volvo Cars aiming for an IPO by the end of 2021 By Reuters

AMD Rises on Price Target Hike By Investing.com

S&P 500 Flirts With Record High as Cyclical Stocks Ride Jobs Data Higher By Investing.com

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