09 June

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Upper Crust owner’s losses balloon on slow travel recovery By Reuters

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(Reuters) - Upper Crust owner SSP Group reported first-half loss of 182 million pounds ($257.62 million) on Wednesday, bringing its shortfall over the past 18 months to more than 600 million pounds, as traffic at its airport and railway kiosks were slow. The London-based snack food group, which operates in 35 countries and raised an extra 450 million pounds from shareholders in April, said first-half revenue slumped 78.9% to 256.7 million pounds for the six months ended March 31. The company said that while the report of its auditors on its last full-year results was...

09 June

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Ferrari turns to world of tech for its new CEO By Reuters

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MILAN (Reuters) - Ferrari (NYSE:RACE) has turned to a tech executive to navigate the transition towards electrification in the automotive industry, appointing Benedetto Vigna as its new boss. Vigna, a 52-year-old Italian national, currently leads the biggest division of chip maker STMicrolectronics'. His appointment fills a six-month vacancy at the helm of the luxury carmaker, where former Chief Executive Louis Camilleri retired in December citing personal reasons, after being in the role for nearly two and a half years. Chairman John Elkann, the scion of Agnelli family which controls Ferrari through its investing firm Exor,...

09 June

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Spain’s Inditex books 421 million euro profit for Q1, beats estimates By Reuters

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LISBON (Reuters) - Spanish retail giant Inditex (MC:ITX) reported a first-quarter net profit of 421 million euros ($513 million) on Wednesday, a number that easily beat analysts' expectations but was still a third below pre-pandemic levels for the same period a year ago. Six analysts polled by Refinitiv had estimated a net profit of 359.29 million euros for the home of the Zara clothing chain. Revenue for the February-April quarter reached 4.9 billion euros, 48% more than in the first quarter of 2020, but still well short of 2019's 5.93 billion euros. Online...

09 June

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South Korea’s land speculation scandal roils Moon’s party By Reuters

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By Hyonhee Shin SEOUL (Reuters) - South Korea's ruling Democratic Party said on Wednesday it was trying to regain public trust by asking 12 lawmakers to leave the party over a property scandal that has alienated voters. The insider land trading scandal, alongside skyrocketing home prices and deepening inequality, has contributed to President Moon Jae-in's approval ratings plunging to record lows and his party's abject defeat in key mayoral elections in April. Offering a public apology last week, Prime Minister Kim Boo-kyum said 20 people had been arrested and 529 referred to prosecutors, including 90 members...

09 June

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LG Energy moves ahead on South Korea IPO that IFR says may raise $10-$12 billion By Reuters

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By Heekyong Yang SEOUL (Reuters) - Auto battery maker and Tesla Inc supplier LG Energy Solution applied for preliminary approval of an initial public offering (IPO) that financial publication IFR said could raise $10 billion-$12 billion in South Korea's biggest ever listing. LG Energy and the Korea Exchange announced the application for approval of the previously flagged IPO on Tuesday, without mentioning its size. IFR reported the potential size earlier in June, citing people close to the deal. LG Energy, wholly owned by LG Chem Ltd from which it was carved out last year, said the...

09 June

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Global supply chain squeeze, soaring costs threaten solar energy boom By Reuters

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By Nichola Groom, Emily Chow and Muyu Xu LOS ANGELES/SHANGHAI/BEIJING (Reuters) - Global solar power developers are slowing down project installations because of a surge in costs for components, labor, and freight as the world economy bounces back from the coronavirus pandemic, according to industry executives and analysts interviewed by Reuters. The situation suggests slower growth for the zero-emissions solar energy industry at a time world governments are trying to ramp up their efforts to fight climate change, and marks a reversal for the sector after a decade of falling costs. It also reflects yet...

09 June

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Dollar teeters as inflation test looms By Reuters

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By Tom Westbrook SINGAPORE (Reuters) - The dollar clung to a small bounce on Wednesday as traders looked to upcoming U.S. inflation data and a European Central Bank (ECB) meeting to gauge the global recovery and policymakers' thinking. Investors have piled up bets against the dollar, but are growing nervous about whether the beginning of the end of enormous monetary stimulus is nigh - and worry that interest rate rises could end a 15-month dollar downtrend. Some think tapering could be hastened, and the dollar boosted, if U.S. inflation runs hotter than the 0.4% monthly...

09 June

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World stocks near record high, U.S. bond yields near 1-month low By Reuters

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By Hideyuki Sano TOKYO (Reuters) - World stock prices held near record highs on Wednesday, while U.S. bond yields flirted with their lowest levels in a month, as investors bet the Federal Reserve is some way off from tapering its economic stimulus. MSCI's all-country world index last stood at 716.64, after scaling an intraday high of 718.19 on Tuesday, led by gains in European stocks. In Asia, the MSCI's broadest index of Asia-Pacific shares outside Japan ticked down 0.15% and Japan's Nikkei average shed 0.25%. On Wall Street on Tuesday, the S&P500 was steady and near...

09 June

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The Noid Enters NFT Craze. Domino’s Says Don’t Buy By Investing.com

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By Christiana Sciaudone Investing.com -- Domino’s Pizza Inc (NYSE:DPZ) is the latest entrant into the business of NFTs. The company is using the Noid, an advertising character from the 1980's whose goal in life was to thwart the quick delivery of pizza, to pitch non-fungible tokens, those unique digital assets held on the blockchain. Shares are up more than 3%. Images of the "Pizza Crusher, Pizza Slayzer and giant Noid Balloon Blockade" are available for sale on rarible.com over the course of a 14-day auction, apparently to "fund future schemes." In a statement (that seems to...

09 June

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Ryanair to double size of base at Rome Fiumicino By Reuters

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DUBLIN (Reuters) - Ryanair is to double the number of planes it has based at Rome Fiumicino airport, the main hub of struggling rival Alitalia, the Irish airline announced in a statement on Tuesday. Ryanair will increase the number of planes it has based at the airport from three to six this summer, it said. The airline will base 14 Boeing (NYSE:BA) 737 jets in Rome between Fiumicino and Ciampino airports for the summer season. ...

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Upper Crust owner’s losses balloon on slow travel recovery By Reuters

Ferrari turns to world of tech for its new CEO By Reuters

Spain’s Inditex books 421 million euro profit for Q1, beats estimates By Reuters

South Korea’s land speculation scandal roils Moon’s party By Reuters

LG Energy moves ahead on South Korea IPO that IFR says may raise $10-$12 billion By Reuters

Global supply chain squeeze, soaring costs threaten solar energy boom By Reuters

Dollar teeters as inflation test looms By Reuters

World stocks near record high, U.S. bond yields near 1-month low By Reuters

The Noid Enters NFT Craze. Domino’s Says Don’t Buy By Investing.com

Ryanair to double size of base at Rome Fiumicino By Reuters

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