18 August

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S&P 500 in Holding Pattern Ahead of Fed Minutes By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 was flat Tuesday, as positive quarterly reports from retailers boosted consumer discretionary stocks ahead of the release of the Federal Reserve's minutes from its July meeting. The S&P 500 fell 0.2%, the Dow Jones Industrial Average slipped 0.2%, or 60 points, the Nasdaq was up 0.1%. A slew of retailers including Lowe's and Target reported quarterly results that topped Wall Street expectations, but saw mixed reaction from investors. Lowe’s Companies (NYSE:LOW) jumped 10% as the home improvement retailer lifted its full-year outlook after reporting...

18 August

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Sterling stuck near 3-week low after inflation slowdown By Reuters

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LONDON (Reuters) - Sterling hovered near a 3-1/2-week low against the dollar on Wednesday as UK inflation data showed a sharper slowdown than expected - though analysts said investors were focused more on the state of the labour market. Having fallen on Tuesday after a jump in the dollar, the pound was little moved by the inflation numbers, which investors believe will have little bearing on the rising trend for inflation. Derek Halpenny at MUFG said Wednesday's strong data from the labour market - a key determinant of future inflation - was "perhaps more important...

18 August

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UK to investigate U.S. private equity takeover of defence firm Ultra By Reuters

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LONDON (Reuters) - Britain's government asked regulators to investigate the planned 2.6 billion-pound ($3.6 billion) acquisition of defence firm Ultra Electronics by rival Cobham (LON:COB), which is owned by U.S. private equity firm Advent. "The UK is open for business, however foreign investment must not threaten our national security," business minister Kwasi Kwarteng said on Wednesday. ($1 = 0.7274 pounds) ...

18 August

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Norway wealth fund earned $111 billion in H1 but warns of inflation risk By Reuters

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By Gwladys Fouche ARENDAL, Norway (Reuters) -Norway's $1.4 trillion sovereign wealth fund, the world's largest, posted a 9.4% return on investment for the first half of the year on Wednesday but warned that signs of inflation seen worldwide could lead to unprecedented losses. The fund's handsome return was driven by a sharp rise in global equities, particularly energy, finance and tech stocks, earning it 990 billion crowns ($111 billion) in the January-June period. That was 0.28 percentage point higher than the fund's benchmark index - and equivalent to a little over $20,000 for every Norwegian man,...

18 August

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Comcast, ViacomCBS to launch streaming service SkyShowtime in Europe By Reuters

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(Reuters) -Comcast Corp and ViacomCBS will launch streaming service SkyShowtime in Europe that will bring content from Nickelodeon, Paramount+, Sky and others, the companies said on Wednesday, as they join hands to take on heavyweights Netflix (NASDAQ:NFLX) and Disney+. SkyShowtime will be streamed in markets including Spain, Portugal, the Nordic countries, Netherlands and Central and Eastern Europe. The companies will have equal investment and control in the joint venture, they said. ViacomCBS has more than 42 million global streaming subscribers while NBCUniversal's Peacock streaming service, whose offerings will also be available on SkyShowtime,...

18 August

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PayPal scraps late fees for buy now, pay later purchases By Reuters

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By Anna Irrera LONDON (Reuters) - PayPal Holdings Inc (NASDAQ:PYPL) will no longer charge customers late fees when they miss payments on buy now, pay later (BNPL) purchases globally, as competition heats up in the fast-growing sector. The changes will be effective from October in the United States, the United Kingdom and France, the San Jose, California-based company said on Wednesday. PayPal's BNPL services in Germany and Australia are already free of late fees. The company, which first started offering BNPL services last year, hopes the changes will help make its products more...

18 August

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Euro zone inflation confirmed above ECB target in July By Reuters

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BRUSSELS (Reuters) - Euro zone inflation accelerated to 2.2% in July, its highest rate in nearly three years and above the European Central Bank's target of 2.0%, final data released on Wednesday by the EU statistics office showed, confirming its earlier estimate. Eurostat said consumer prices in the 19-nation bloc rose 2.2% in July on the year, after a 1.9% rise in June. It was the highest rate since October 2018. Month-on-month inflation in the bloc fell 0.1%, in line with the mean forecast of economists polled by Reuters. The ECB is forecasting a further increase...

18 August

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Top earning bankers moved to EU from Britain ahead of Brexit – report By Reuters

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By Huw Jones LONDON (Reuters) - Nearly a hundred highly paid bankers left Britain ahead of its departure from the European Union, the bloc's banking watchdog said on Wednesday, the latest confirmation of how Brexit has reshaped Europe's financial sector and its tax base. The European Banking Authority (EBA) said in its annual survey of bankers earning a million euros ($1.17 million) or more a year that Britain saw a drop of 95 high earners in 2019, The country still accounted for 71% of the 4,963 bankers in the top pay category across the bloc...

18 August

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Analysis-Afghan central bank’s $10 billion stash mostly not within reach of Taliban By Reuters

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By Karin Strohecker, Simon Lewis and David Lawder LONDON/WASHINGTON (Reuters) - The Taliban took over Afghanistan with astonishing speed, but it appears unlikely that the militants will get quick access to most of the Afghan central bank’s roughly $10 billion in assets. The country's central bank, Da Afghanistan Bank (DAB), is thought to hold foreign currency, gold and other treasures in its vaults, according to an Afghan official. Most of the assets are held outside Afghanistan potentially putting most of them beyond the insurgents' reach, according to Afghan officials, including the bank's acting governor, Ajmal...

18 August

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Carlsberg raises guidance after beating quarterly expectations By Reuters

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COPENHAGEN (Reuters) -Danish brewer Carlsberg (CSE:CARLa) raised its full-year earnings guidance on Wednesday after reporting second-quarter sales above expectations but warned that severe coronavirus restrictions in Asia could hit sales. The world's third-biggest brewer said beer volumes in key markets China and Russia had risen to "well above" pre-pandemic levels while European markets such as France, Switzerland and Sweden remained below levels achieved before the coronavirus crisis. "While the uncertainty about the remainder of the year continues, we're satisfied with the strength of the first-half results and the good start to the third quarter," Chief...

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S&P 500 in Holding Pattern Ahead of Fed Minutes By Investing.com

Sterling stuck near 3-week low after inflation slowdown By Reuters

UK to investigate U.S. private equity takeover of defence firm Ultra By Reuters

Norway wealth fund earned $111 billion in H1 but warns of inflation risk By Reuters

Comcast, ViacomCBS to launch streaming service SkyShowtime in Europe By Reuters

PayPal scraps late fees for buy now, pay later purchases By Reuters

Euro zone inflation confirmed above ECB target in July By Reuters

Top earning bankers moved to EU from Britain ahead of Brexit – report By Reuters

Analysis-Afghan central bank’s $10 billion stash mostly not within reach of Taliban By Reuters

Carlsberg raises guidance after beating quarterly expectations By Reuters

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