21 June

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Tesla to hold AI Day in “about a month” for hiring – Musk By Reuters

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(Reuters) - Tesla Inc chief Elon Musk is considering holding an AI Day in about a month, where the Silicon Valley billionaire will showcase the progress in AI software and hardware with an aim to recruit. "Looking at holding Tesla AI Day in about a month or so. Will go over progress with Tesla AI software & hardware, both training & inference. Purpose is recruiting," Musk tweeted on Monday. His latest plan to promote Tesla's technology comes amid the hiccups faced in the company's path to achieve full self-driving technology. Musk had during an earnings call...

21 June

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Dow Racks Up Gains in Broad Rally as Risk Appetite Returns By Investing.com

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By Yasin Ebrahim Investing.com – The Dow racked up gains Monday as a sea of green swept across cyclicals and value corners of the market amid a rebound in risk appetite following last week's rout. The Dow Jones Industrial Average jumped 1.8%, or 586 points, the S&P 500 rose 1.4%, the and the Nasdaq Composite was up 0.79%. Energy led the broader market higher, up 4% as investors continued to bet on higher oil demand, while the prospect of the return of Iranian supply was pushed out further after Ebrahim Raisi won the country’s presidential election. Raisi...

21 June

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Fed officials: Faster bond taper could provide leeway on interest rates By Reuters

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By Howard Schneider and Jonnelle Marte WASHINGTON (Reuters) - The early debate over how the Federal Reserve could begin to withdraw some of its massive support for the economy was on full display on Monday when two U.S. central bank officials discussed how the playbook used after the 2007-2009 recession may not apply this time. The conversation over how fast to end the Fed's $120 billion in monthly bond purchases is just beginning, but policymakers said a faster withdrawal from the program could give the central bank more leeway in deciding when to raise interest...

21 June

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Most poorer countries do not have enough COVAX shots to continue vaccinations: WHO By Reuters

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GENEVA (Reuters) - More than half of poorer countries receiving doses via the COVAX vaccine-sharing programme do not have enough supplies to continue, an official from the World Health Orgnization which co-runs it said on Monday. "I would say of the 80 AMC countries at least well over a half of them would not have sufficient vaccine to be able to sustain their programmes right now," WHO senior adviser Bruce Aylward told a briefing, referring to an advance market commitment to low and middle-income countries, saying the actual portion was probably "much higher". Some of...

21 June

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S&P 500 Rallies as Bulls Swoop in to Buy Battered Stocks Following Rout By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 jumped Monday, as bargain-hunting investors took advantage of the last week's sea of red in the market, swooping in to buy economically-sensitive cyclicals stocks. The S&P 500 rose 1.2%, the Dow Jones Industrial Average jumped 1.63%, or 542 points, and the Nasdaq Composite was up 0.69%. Energy led the broader market higher, up 3% as investors continued to bet on higher oil demand, while the prospect of return of Iranian supply was pushed out further after Ebrahim Raisi won the country’s presidential election. Raisi told reporters that Iran...

21 June

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GameStop names CEO Matt Furlong to board By Reuters

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(Corrects paragraph 5 to say Ryan Cohen is chairman, not chief technology officer) (Reuters) - GameStop Corp (NYSE:GME), the videogame retailer at the center of this year's "meme stock" trading frenzy, named Chief Executive Matt Furlong to its board on Monday, as the former Amazon (NASDAQ:AMZN) executive took formal charge of the company. Furlong was named GameStop's CEO earlier this month, succeeding George Sherman who, the company said, also retired from the board. Furlong oversaw a small but growing part of Amazon's business as the country head for Australia, a role his...

21 June

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Fed Should Be Ready for Upside Risks to Inflation, Bullard Says By Bloomberg

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(Bloomberg) -- The Federal Reserve should be prepared for inflation to surprise on the high end through next year, said St. Louis Fed President James Bullard. Inflation is likely to remain above the Fed’s 2% goal and may surprise further to the upside, bolstered by a faster-than-expected economic recovery from the coronavirus pandemic, Bullard said Monday in a virtual event hosted by the Official Monetary and Financial Institutions Forum. “We’re in a much stronger position with respect to reopening than we would have anticipated and inflation has come along with it,” Bullard said. “We have...

21 June

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FTSE reclaims 7000, GBP bounces, oil higher, Bitcoin falls By Investing.com

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Key Points FTSE 100 closing price of , % Morrison jumps after takeover bid GBP bounces after sell-off last week Oil higher after Iran election, nuclear talks Cryptos fall on China crackdown, Bitcoin briefly trades below $32,000 By Samuel Indyk Investing.com – The UK’s FTSE 100 finished Monday’s trading session in the green despite hitting its lowest level in a month early in the session. Other European stock indices showed similar price action but regained some lost ground as growth stocks traded higher. The move in UK shares was helped by a rally in supermarket stocks,...

21 June

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Euro zone and U.S. economies in “different situation”, ECB’s Lagarde says By Reuters

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FRANKFURT (Reuters) - The euro zone and the United States are "clearly in a different situation" when it comes the outlook for inflation, European Central Bank President Christine Lagarde said on Monday, playing down any impact from across the Atlantic. With the U.S. economy reopening and prices rebounding fast, Federal Reserve officials have started discussing ending their bond purchase programme and last week brought forward their expectations for the first rate hike since the start of the coronavirus pandemic. This has triggered market speculation about rising inflation and a tightening of monetary policy across the globe....

21 June

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KPMG faces call for record fine from British accounting watchdog By Reuters

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By Huw Jones LONDON (Reuters) - Britain's accounting watchdog called for KPMG's UK arm to be fined more than 15 million pounds ($21 million) on Monday over a 'conflict of interest' when it advised on the sale of bed maker Silentnight. KPMG, which is one of the world's Big Four auditors and was advising on the sale to U.S. private equity company HIG Capital in 2011, said the fine should be no more than 5 million pounds, and that it no longer has a restructuring business. An independent tribunal was held on Monday to determine sanctions...

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Tesla to hold AI Day in “about a month” for hiring – Musk By Reuters

Dow Racks Up Gains in Broad Rally as Risk Appetite Returns By Investing.com

Fed officials: Faster bond taper could provide leeway on interest rates By Reuters

Most poorer countries do not have enough COVAX shots to continue vaccinations: WHO By Reuters

S&P 500 Rallies as Bulls Swoop in to Buy Battered Stocks Following Rout By Investing.com

GameStop names CEO Matt Furlong to board By Reuters

Fed Should Be Ready for Upside Risks to Inflation, Bullard Says By Bloomberg

FTSE reclaims 7000, GBP bounces, oil higher, Bitcoin falls By Investing.com

Euro zone and U.S. economies in “different situation”, ECB’s Lagarde says By Reuters

KPMG faces call for record fine from British accounting watchdog By Reuters

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