20 April

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Exclusive: DBS, StanChart among potential bidders for Citi’s Asia consumer business – sources By Reuters

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By Anshuman Daga, Sumeet Chatterjee and Nupur Anand SINGAPORE/HONG KONG (Reuters) - Banks including DBS Group, Mitsubishi UFJ Financial Group (MUFG), OCBC and Standard Chartered (LON:STAN) are set to bid for parts of Citigroup (NYSE:C)'s consumer business in Asia, people with direct knowledge of the matter told Reuters. The sale process will start within a couple of weeks, the people added, declining to be named as they were not authorised to speak to media. The move comes after Citi said that it would exit from its consumer franchises in 13 markets,...

20 April

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Tobacco names smoked on U.S. plans to cut cigarette nicotine levels By Investing.com

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By Samuel Indyk Investing.com – Shares in tobacco companies were falling on Tuesday morning after a report that said the Biden administration is considering a rule to cut nicotine levels in cigarettes. The Wall Street Journal first reported the plans, saying the proposal could also be paired with a ban on menthol cigarettes. Nicotine levels Sources told the WSJ that the US government is considering requiring tobacco companies to lower nicotine in all cigarettes to levels where they are no longer addictive. The policy would aim to cajole millions of smokers into either quitting or switching...

20 April

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Cigarette makers, AB Foods weigh on FTSE 100; Elementis shines By Reuters

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By Devik Jain (Reuters) -London's FTSE 100 fell on Tuesday, dragged down by stocks of heavyweight banking and cigarette makers, while Associated British Foods (LON:ABF) slipped after a downbeat first-half earnings update. The blue-chip index slipped 0.2%, with tobacco firms British American Tobacco (LON:BATS) and Imperial Brands (LON:IMB) declining 5.9% and 5.2%, respectively, to the bottom of index after a media report said the U.S. is considering a rule to cut nicotine in all cigarettes sold in the country to levels at which they are no longer addictive. Shares of Primark-owner AB Foods fell...

20 April

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BOJ seen slashing inflation forecast for this fiscal year – sources By Reuters

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By Leika Kihara TOKYO (Reuters) - The Bank of Japan is expected to cut its inflation forecast for this fiscal year in quarterly projections due out next week, three sources familiar with its thinking said, reinforcing market expectations it will maintain its massive stimulus for the foreseeable future. The downgrade will reflect the impact of cuts in cellphone charge fees, which analysts say could push down core consumer inflation by as much as 0.6 percentage points. The BOJ currently expects core consumer prices to rise 0.5% in the fiscal year that began in April. In fresh...

20 April

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Wealth manager Jupiter reports net outflows of 776 million pounds in first qtr By Reuters

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(Reuters) - British firm Jupiter Fund Management Plc (LON:JUP) said on Tuesday it recorded net outflows of 776 million pounds ($1.09 billion) in the first quarter, mainly due to lower client demand for UK and Europe-focused equity strategies. Total assets under management (AUM) inched up to 58.79 billion pounds by March 31 from 58.73 billion pounds as at Dec. 31. ($1 = 0.7144 pounds) ...

20 April

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Britain reviews core banking rules in light of Brexit By Reuters

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LONDON (Reuters) - Britain on Tuesday launched an independent review of capital and proprietary trading rules that were introduced following the global financial crisis more than a decade ago. "Over the last decade, UK banks have seen significant changes to the environment in which they operate, including the fallout from the COVID-19 pandemic, the UK’s exit from the EU, and wider changes in the UK financial sector," the independent review said in a statement. ...

20 April

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AB Foods first half profit halves on Primark’s COVID hit By Reuters

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LONDON (Reuters) - Associated British Foods (LON:ABF) on Tuesday reported a halving in first half profit, hurt by COVID-19 lockdowns which shuttered its Primark fashion stores. The group, which also owns major sugar, grocery, agriculture and ingredients businesses, said it made adjusted profit before tax of 319 million pounds ($446 million)for the six months to Feb. 27, down from 636 million pounds reported for the same period of its 2019-20 year. Group revenue fell 17% to 6.3 billion pounds driven by the loss of retail sales as a consequence of the trading restrictions placed on...

20 April

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China’s President Xi calls for more equitable global governance By Reuters

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(Correct typographical error in paragraph 3.) By Kevin Yao BOAO, China (Reuters) -Chinese President Xi Jinping said on Tuesday that the global governance system should be made more equitable and fair, and that rules set by one country or some nations cannot be imposed on others. Building barriers and pushing for decoupling will harm others and benefit no one, Xi said in his keynote speech at the annual Boao Forum for Asia, China's answer to the Davos conference. China has long called for reforms in global governance in which the perspectives and values of multiple...

20 April

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Vizio Gains As Seen As Analysts See It Well-Positioned For Streaming By Investing.com

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By Dhirendra Tripathi Investing.com – Vizio Holding (NYSE:VZIO) shares rose more than 1% on Monday, bolstered by bullish calls made by as many as seven analysts who think the company is well-positioned to capitalize on the fast-growing video-streaming market. The average of the price estimates put out by the seven firms is $30, suggesting a 22% upside from current levels. Vizio, which made its public debut on March 25, priced 12.25 million shares at $21 each, but the stock plunged 9% to close at $19.10. Vizio, which started off as a seller...

20 April

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BMW preliminary first quarter profit before tax surges 370% By Reuters

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FRANKFURT (Reuters) - BMW said on Monday that earnings before tax in the first quarter rose a preliminary 370%. The carmaker, citing strong sales growth in all regions and especially China, said group earnings before tax was 3.76 billion euros ($4.53 billion), up from 798 million a year earlier. ($1 = 0.8306 euros) ...

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Exclusive: DBS, StanChart among potential bidders for Citi’s Asia consumer business – sources By Reuters

Tobacco names smoked on U.S. plans to cut cigarette nicotine levels By Investing.com

Cigarette makers, AB Foods weigh on FTSE 100; Elementis shines By Reuters

BOJ seen slashing inflation forecast for this fiscal year – sources By Reuters

Wealth manager Jupiter reports net outflows of 776 million pounds in first qtr By Reuters

Britain reviews core banking rules in light of Brexit By Reuters

AB Foods first half profit halves on Primark’s COVID hit By Reuters

China’s President Xi calls for more equitable global governance By Reuters

Vizio Gains As Seen As Analysts See It Well-Positioned For Streaming By Investing.com

BMW preliminary first quarter profit before tax surges 370% By Reuters

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