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10 June
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Asda’s sales growth accelerates under new ownership By Reuters

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LONDON (Reuters) - British supermarket group Asda, bought by Zuber and Mohsin Issa and private equity group TDR Capital from Walmart (NYSE:WMT) in February, said on Thursday underlying sales growth accelerated in its latest quarter. The group said like-for-like sales, excluding fuel, rose 7.3% year-on-year in its first quarter to March 31, versus growth of 5.1% in the previous quarter. The growth was driven by non-food categories and online shopping during a third period of national lockdown measures to stem the COVID-19 virus, which included the closure of non-essential shops. Like-for-like clothing sales increased by 31%...

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10 June
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WATCH LIVE: ECB Press Conference following June meeting By Investing.com

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By Samuel Indyk Investing.com – Watch the introductory statement by ECB President Christine Lagarde followed by question-and-answer session below. Key Points from the statement ECB keeps interest rates on main refinancing operations, marginal lending facility and deposit facility unchanged at 0.00%, 0.25% and -0.50% respectively. Will continue to conduct net asset purchases under the pandemic emergency purchase programme (PEPP) with a total envelope of EUR 1.850 trillion until at least the end of March 2022. Governing Council expects net purchases under the PEPP over the coming quarter to continue to be conducted at a significantly higher...

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10 June
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Gain in U.S. CPI Exceeds Forecasts, Fuels Inflation Concern By Bloomberg

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(Bloomberg) -- Prices paid by U.S. consumers rose in May by more than forecast, extending a months-long buildup in inflation that risks becoming more established as the economy strengthens. The consumer price index climbed 0.6% from the prior month after a 0.8% jump in April that was the largest since 2009. Excluding the volatile food and energy components, the so-called core CPI rose by a larger-than-forecast 0.7%, according to Labor Department data Thursday. The median forecast in a Bloomberg survey of economists called for 0.5% gains in both the overall CPI and the core. Compared...

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10 June
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Irish ‘bad bank’ NAMA raises forecast surplus to 4.25 billion euros By Reuters

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DUBLIN (Reuters) - Ireland's state-run "bad bank", the National Asset Management Agency (NAMA), on Thursday forecast it would post a lifetime surplus of 4.25 billion euros, up from its previous estimate that it would boost the government's coffers by 4 billion euros. Seen as a major liability for Dublin's finances when it was established in 2009 during a crash that cut property values in half, NAMA has since ridden a surge in demand for Irish real estate. NAMA used 32 billion euros of senior and junior debt to rid local banks of 74 billion worth of...

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10 June
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El Salvador’s bitcoin push: What does it mean for cryptocurrency? By Reuters

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By Tom Wilson and Karin Strohecker LONDON (Reuters) - El Salvador has become the first country in the world to adopt bitcoin as legal tender, with President Nayib Bukele touting its use for its potential to help Salvadorans living abroad to send remittances back home. Here's what the move means for bitcoin as a mainstream currency - and emerging markets such as El Salvador: WHAT DOES THE LAW SAY? El Salvador's law means bitcoin will have equal footing with the dollar, which became its official currency 20 years ago. Making bitcoin "legal tender" means shops...

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10 June
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U.S. to donate 500 million Pfizer doses to poor nations By Reuters

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By Steve Holland and Andrea Shalal CARBIS BAY, England (Reuters) - The United States will spend $3.5 billion to buy and donate 500 million doses of the Pfizer (NYSE:PFE) coronavirus vaccine to some of the world's poorest countries, it said on Thursday, urging other G7 nations to follow suit. The vaccine donation - the largest ever by a single country - was announced before U.S. President Joe Biden meets leaders of the Group of Seven advanced economies in western England. The 500 million doses are destined for the world's 100 poorest countries. A senior...

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10 June
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Rebuke for UK’s Morrisons as investors reject pay report By Reuters

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LONDON (Reuters) -Morrisons shareholders overwhelmingly rejected the British supermarket group's pay report on Thursday in the latest investor protest against rewards for top executives. More than 70% of votes cast at the company's annual general meeting (AGM) rejected the remuneration report, although the vote was advisory and so not binding. Investors have become more vocal in their opposition to boardroom pay deals they deem excessive amid society's broader struggles in the pandemic. Ahead of the AGM, several investor advisory groups had recommended shareholders vote against the report because the way Chief Executive David Potts' pay...

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10 June
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China passes law to counter foreign sanctions By Reuters

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By Yew Lun Tian BEIJING (Reuters) - China passed a law on Thursday to counter foreign sanctions, as it strives to diffuse U.S. and EU pressure over trade, technology, Hong Kong and Xinjiang. The new law is China's latest and most wide-ranging legal tool to retaliate against foreign sanctions and is intended to give Chinese retaliatory measures more legitimacy and predictability, according to local experts. Foreign companies, however, worry about the dampening impact it might have on foreign investment. China's top legislature, the National People's Congress standing committee (NPC) passed the law on Thursday, according to...

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10 June
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French and Swiss central banks to trial wholesale digital currencies By Reuters

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By John Revill and Marc Jones ZURICH/LONDON (Reuters) - The Swiss National Bank and the Bank of France will trial Europe's first cross-border central bank digital currency payments, the banks said on Thursday, a move that will be a first for two of the world's top currencies. The experiment will focus on the bank-to-bank 'wholesale' lending market rather than everyday public transactions but will be the first time a digital euro and Swiss franc have been fully tested. Switzerland's UBS, Credit Suisse (SIX:CSGN) and France's Natixis are involved in the project, along with Swiss...

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10 June
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U.S. Futures Mixed; Upcoming CPI Data Limiting Activity By Investing.com

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By Peter Nurse    Investing.com - U.S. stocks are seen opening mixed Thursday, in tight trading ranges ahead of the widely-anticipated release of U.S. inflation data later in the session.  At 7 AM ET (1200 GMT), the Dow Futures contract was up 75 points, or 0.2%, S&P 500 Futures traded 2 points, or 0.1%, higher, while Nasdaq 100 Futures dropped 35 points, or 0.3%. The three major indices traded within tight ranges lower Wednesday, with the blue-chip Dow Jones Industrial Average, the broad-based S&P 500 and the tech-heavy Nasdaq Composite all ending the day within 0.5% of...

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