26 April

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Standard Life Aberdeen to change name to “Abrdn” By Reuters

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LONDON (Reuters) -British asset manager Standard Life (LON:SLA) Aberdeen said on Monday it plans to change its name to "Abrdn PLC" as part of a plan to shore up and modernise its brand identity. The new name - which will be pronounced "Aberdeen" - comes after the company sold its Standard Life brand to life insurer Phoenix earlier this year. "Our new brand Abrdn builds on our heritage and is modern, dynamic and, most importantly, engaging for all of our client and customer channels," said chief executive Stephen Bird, who joined the firm...

26 April

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Fed to Taper Bond Buying in Fourth Quarter, Economists Say By Bloomberg

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(Bloomberg) -- The Federal Reserve is expected to begin trimming its $120 billion in monthly asset purchases before the end of the year as the U.S. economy recovers strongly from Covid-19, according to economists surveyed by Bloomberg. That’s a bit earlier than forecast in the March survey but leaves Fed asset purchases untouched for several more months, with the first interest-rate increase still not expected until 2023. In contrast, the Bank of Canada said last week it would scale back its purchases of government debt and accelerate the timetable for a possible rate increase, though the...

26 April

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Food ingredients maker Tate & Lyle exploring separation of two businesses By Reuters

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(Reuters) - British food ingredients maker Tate & Lyle (LON:TATE) confirmed on Sunday it was exploring a sale of a controlling stake in its primary products business and also separate its food and beverage solutions operations. "Discussions with potential new partners in the Primary Products business are at an early stage," the company said in a statement https://www.tateandlyle.com/news/response-media-speculation on its website. ...

26 April

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Analysis: Retail trading appetite robust even as stock-buying frenzy cools By Reuters

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By John McCrank NEW YORK (Reuters) - Retail traders have shifted from "meme stocks" to large-cap names and exchange traded funds, and while their activity has eased from its January peak, the blistering pace of new retail account openings means non-professionals are likely to remain a market force. Retail trading levels skyrocketed at the beginning of the year, helped by the frenzy of buying in stocks like GameStop Corp (NYSE:GME). But that has been followed by a pullback, according to data, despite expectations that investors would use stimulus checks to trade. "We were expecting...

26 April

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Demand for online learning boosts Pearson’s Q1 trading By Reuters

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LONDON (Reuters) - Global education group Pearson said strong demand for online learning courses had helped the group to post a 5% rise in underlying revenue growth in the first three months of the year. The British company, repositioning itself as a consumer-facing group offering training and skills for life beyond its core schools and colleges remit, said it continued to expect to deliver revenue and profit growth in 2021. Trading was boosted by a 25% jump in demand for programmes in its Global Online Learning division, as people around the world enrolled for...

26 April

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Analysis: China digital currency trials show threat to Alipay, WeChat duopoly By Reuters

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Shanghai - In China's commercial hub Shanghai, six big state banks are quietly promoting digital yuan ahead of a May 5 shopping festival, carrying out a political mandate to provide consumers with a payment alternative to Alipay and WeChat Pay. The banks are persuading merchant and retail clients to download digital wallets so that transactions during the pilot programme can be made directly in digital yuan, bypassing the ubiquitous payment plumbing laid by tech giants Ant Group, an affiliate of Alibaba (NYSE:BABA) 9988.HK, and Tencent (HK:0700) 0700.HK. "People will realise that digital yuan...

26 April

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‘Nomadland’ wins best picture Oscar By Reuters

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April 25 (Reuters) - "Nomadland," a recession-era tale about a community of van dwellers in the American West, won the Oscar for best picture on Sunday. The film stars Frances McDormand as a widow in a depressed Nevada mining town who turns her van into a mobile home and sets out on the road, taking seasonal jobs and making friends along the way. Directed by China native Chloe Zhao, "Nomadland" was widely considered the front-runner heading into Hollywood's biggest night, having dominated this year's awards season. The film is based on a 2017 nonfiction book by...

26 April

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Toshiba’s No. 2 shareholder calls for review of strategic alternatives By Reuters

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TOKYO (Reuters) - 3D Investment Partners, the second-largest shareholder in Toshiba Corp, has called on the Japanese industrial conglomerate to conduct a formal review of strategic alternatives. "We are very concerned, based on media reports and Toshiba's own press releases, that Toshiba may not be serving the interests of the corporation and has been actively discouraging takeover proposals," 3D said in a letter sent to Toshiba's board. ...

26 April

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Dollar holds weak bias on expectations Powell will shun tapering By Reuters

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By Stanley White TOKYO (Reuters) - The dollar nursed losses against most currencies on Monday amid speculation that U.S. Federal Reserve Chairman Jerome Powell will shun talk of tapering bond purchases at a policy meeting this week. The euro rose to a near two-month high against the greenback before data later on Monday forecast to show an improvement in German business sentiment, which would bolster hopes for a brighter economic outlook. Powell is likely to face questions over whether an improving labour market and rising coronavirus vaccinations warrant a withdrawal of monetary easing, but most...

26 April

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Asian shares near six-week highs, eyes on Fed, U.S. GDP By Reuters

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By Swati Pandey SYDNEY (Reuters) - Asian stocks rose for a third straight session on Monday as risk appetite was aided by recent data showing the world economic recovery from the coronavirus pandemic was well on track while the U.S. dollar loitered near two-month lows. MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.2% to 699.63, the highest since March 18. The index has had a strong run lately as it clocked its second consecutive weekly rise on Friday and was on track for another month of gains. Since April 2020, the index has offered...

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Standard Life Aberdeen to change name to “Abrdn” By Reuters

Fed to Taper Bond Buying in Fourth Quarter, Economists Say By Bloomberg

Food ingredients maker Tate & Lyle exploring separation of two businesses By Reuters

Analysis: Retail trading appetite robust even as stock-buying frenzy cools By Reuters

Demand for online learning boosts Pearson’s Q1 trading By Reuters

Analysis: China digital currency trials show threat to Alipay, WeChat duopoly By Reuters

‘Nomadland’ wins best picture Oscar By Reuters

Toshiba’s No. 2 shareholder calls for review of strategic alternatives By Reuters

Dollar holds weak bias on expectations Powell will shun tapering By Reuters

Asian shares near six-week highs, eyes on Fed, U.S. GDP By Reuters

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