07 May

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Analysis-Europe’s consumers face rising prices but the ECB is unfazed By Reuters

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By Mark John LONDON (Reuters) - Europe's consumers will feel the hit from price rises this year as companies seek to recoup revenues and cover pandemic-related costs. But for now, this is inflation the European Central Bank believes it can live with. Over the past year, the fallout from COVID-19 has contorted both the demand and supply sides of the global economy, creating bottlenecks in supply chains, havoc in freight markets and a rally in raw materials from corn to copper. Lockdowns, meanwhile, have deprived well-off consumers in Europe and elsewhere of the...

07 May

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Wall Street Opens Mostly Higher as Job Shock Banishes Tapering Fears; Dow Flat By Investing.com

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By Geoffrey Smitth Investing.com -- U.S. stock markets opened mostly higher on Friday thanks to the "bad news is good news principle", as a shock shortfall in job creating reassured market participants that the Federal Reserve will not withdraw any monetary stimulus for the foreseeable future. By 9:40 AM ET (1340 GMT), the Dow Jones Industrial Average was effectively unchanged on 34,552 points, underperforming as the government's labor market report suggested that only a slow pickup in employment despite the broad reopening of the economy. The S&P 500 was up 0.4%, and the Nasdaq Composite,...

07 May

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Greensill UK administrators say $3.7 billion in AUM collected so far By Reuters

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LONDON (Reuters) - Administrators to collapsed firm Greensill Capital's UK business said it had $17.7 billion in assets under management at March 8 of which $3.7 billion has been collected as of April 16. The supply chain finance firm, which lent money to firms by buying their invoices at a discount, collapsed in March 2021 after insurers pulled their cover. Creditors of Greensill Capital Pty, the Australian parent of the British company, voted in April to liquidate that company. Among the investors burnt in the widespread fallout from Greensill's collapse were clients of Swiss banking giant...

07 May

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Roku Rocks Naysaying Analysts With Biggest Profit Yet By Investing.com

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By Christiana Sciaudone Investing.com -- Analysts must be kicking themselves after Roku (NASDAQ:ROKU) turned a sweet profit after they forecast a loss. Roku rose 16% on a profit of 54 cents, its best on record, on sales of $574 million, up 79% year-on-year. Analysts had expected a loss per share of 14 cents on revenue of $492 million, according to data compiled by Investing.com. The company continues to benefit from the boom in streaming amid the global pandemic. Second quarter sales are expected to reach $615 million at the midpoint, up 73%...

07 May

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Britain proposes new structure to tackle illiquid fund flaws By Reuters

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LONDON (Reuters) - Britain on Friday put forward a new long-term asset fund structure to invest in illiquid assets such as real estate and infrastructure, following recent high-profile suspensions. Illiquid assets typically offer higher long-term returns but come with higher risk and can be hard to value or sell in a crisis, making it difficult to meet redemption requests. Many British funds investing in property froze after the Brexit vote in 2016 and during the COVID-19 pandemic last year. The Financial Conduct Authority (FCA) said it would consult on a new long-term asset fund (LTAF)...

07 May

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Bank of England does not see COVID bankruptcy wave – Haldane By Reuters

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LONDON (Reuters) - The Bank of England does not expect to see a wave of bankruptcies among British firms when the government ends its coronavirus emergency support for the economy, BoE Chief Economist Andy Haldane said on Friday. Many debts racked up recently by companies are spread over long durations "which increases the chances of them being able to be paid back and therefore bankruptcy is not picking up very much from current relatively subdued levels," Haldane said. "But ultimately there are risks around that and we'll need to track them through," he said in a...

07 May

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EU regulator reviews reports of rare nervous disorder after AstraZeneca vaccine By Reuters

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(Reuters) - Europe's medicines regulator said on Friday it was reviewing reports of a rare condition affecting the nerves following vaccination with AstraZeneca (NASDAQ:AZN)'s COVID-19 shot, and requested the British drugmaker for more detailed data. As part of a regular review of safety reports for the vaccine, Vaxzevria, the European Medicines Agency's safety committee is analysing data provided on cases of Guillain-Barre syndrome, the regulator said. AstraZeneca did not immediately respond to requests for comment. ...

07 May

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Carbon emissions drop across Europe in 2020 – Eurostat By Reuters

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(Reuters) - Carbon emissions from use of fossil fuels fell across the European Union last year, the bloc's statistics office estimated on Friday, citing COVID-19 restrictions that shut down travel and factories across the region. CO2 emissions from the combustion of fossil fuels - such as oil, coal and natural gas - dropped 10% in 2020 compared the previous year, according to Eurostat. Eurostat observed a reduction in oil and oil products consumption in almost all member states, while natural gas consumption fell in 15 countries. "In contrast, the share of renewables (especially wind, hydro and...

07 May

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Blackstone proposes $1.68 billion buyout of UK’s St. Modwen Properties By Reuters

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By Yadarisa Shabong (Reuters) -Private equity firm Blackstone (NYSE:BX) Group has made a 1.21 billion pound ($1.68 billion) buyout proposal for St. Modwen Properties, the companies said on Friday, sending shares in the British real estate developer soaring. The potential offer comes at a time when the housebuilder and logistics firm, which counts e-commerce players Amazon (NASDAQ:AMZN) UK, DHL and Ocado (LON:OCDO) as clients, has seen a growth in warehousing demand due to online shopping during the pandemic. Shares in the London-listed firm climbed as much as 20% to 538 pence, just shy of...

07 May

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Jet parts supplier Meggitt’s shares jump on M&A report By Reuters

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LONDON (Reuters) - Shares in British engineering company Meggitt (LON:MGGT) jumped 14% on Friday after the Dealreporter website said that U.S. group Woodward Inc was looking at a potential deal. Meggitt's market capitalisation was $5 billion as of Thursday while Woodward's stood at about $8 billion. The reported U.S. interest comes after shares in the London-listed aerospace parts maker lost about 30% in value last year when the pandemic took hold and weakness in the aviation market owing to travel restrictions forced plane makers to cut production rates. Meggitt declined to comment on the...

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Analysis-Europe’s consumers face rising prices but the ECB is unfazed By Reuters

Wall Street Opens Mostly Higher as Job Shock Banishes Tapering Fears; Dow Flat By Investing.com

Greensill UK administrators say $3.7 billion in AUM collected so far By Reuters

Roku Rocks Naysaying Analysts With Biggest Profit Yet By Investing.com

Britain proposes new structure to tackle illiquid fund flaws By Reuters

Bank of England does not see COVID bankruptcy wave – Haldane By Reuters

EU regulator reviews reports of rare nervous disorder after AstraZeneca vaccine By Reuters

Carbon emissions drop across Europe in 2020 – Eurostat By Reuters

Blackstone proposes $1.68 billion buyout of UK’s St. Modwen Properties By Reuters

Jet parts supplier Meggitt’s shares jump on M&A report By Reuters

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