13 April

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U.S. Consumer Prices Jump in March After Stimulus as Economies Reopen By Investing.com

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By Dhirendra Tripathi Investing.com – Consumer prices in the U.S. jumped 0.6% in March from a month earlier, just a tad more than the expectations of a 0.5% gain as consumers, armed with cash from the $1.9 trillion stimulus, flocked to buy more durables and groceries. On a year-over-year basis, the index rose 2.6%, the most since August 2018. Core CPI, which excludes food and energy costs, increased 0.3% in March and 1.6% over the same month last year. The rise in inflation was expected. It was in March last year when the U.S. and the...

13 April

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Bank of England’s chief economist Haldane to quit By Reuters

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By David Milliken and William Schomberg LONDON (Reuters) - The Bank of England said on Tuesday that its chief economist, Andy Haldane, will leave the central bank after more than 30 years to become chief executive of a London-based charity that focuses on social and economic issues. Haldane has been the most upbeat member of the BoE's Monetary Policy Committee about the prospects for a sharp economic recovery from the COVID pandemic, and in February he likened inflation to a "tiger" that could easily be roused. Sterling fell slightly against the dollar and the euro following...

13 April

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FedEx Gets Another Buy Rating on Improved Business Conditions By Investing.com

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By Dhirendra Tripathi Investing.com – FedEx (NYSE:FDX) shares will benefit from an uptick in economic activity, according to KeyBanc analyst Todd Fowler, who upgraded the stock to overweight with a price target of $350. The price target is almost 20% from the stock’s current price. FedEx shares dipped 0.3% on Tuesday. Last month, analysts at three brokerages -- Robert W. Baird, Goldman Sachs (NYSE:GS) and Berenberg Bank –reiterated their buy ratings on FedEx stock. Robert W. Baird has a price target of $312 and Berenberg $325 with Goldman Sachs’s $365 being the highest of the three,...

13 April

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Morgan Stanley aims to support $750 billion in low-carbon investments by 2030 By Reuters

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(Reuters) -Morgan Stanley said on Tuesday it would seek to encourage an additional $750 billion worth of spending on low-carbon solutions by 2030 under a scheme which two years ago targeted $250 billion in investment. As part of the commitment, the bank said it would escalate activities such as green-bond financing and financing companies that support clean technology and renewable energy. The announcement follows that of Bank of America (NYSE:BAC), which expanded its commitment to green finance last week. The second largest U.S. bank said it would mobilise $1 trillion to help its push for a...

13 April

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Britain to undertake deep-dive review of financial market after Brexit By Reuters

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LONDON (Reuters) - Britain's Financial Conduct Authority will undertake a root-and-branch review of the UK capital market following Brexit to help attract more foreign company listings, a senior regulator said on Tuesday. "We are keen to carry out a more fundamental review of the markets we operate," said Clare Cole, executive director at the FCA, told a City & Financial conference. ...

13 April

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UK’s Johnson says COVID infections will rise as lockdown eases By Reuters

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LONDON (Reuters) - British prime Minister Boris Johnson said COVID-19 infections and deaths would start to rise again as restrictions were eased despite the successful roll out of vaccinations to those aged above 50 and vulnerable groups. "The bulk of the work in reducing the disease has been done by the lockdown," Johnson said on Tuesday. "So, as we unlock the result will inevitably be that we will see more infections and sadly we will see more hospitalizations and deaths." ...

13 April

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Hong Kong announces more electoral system changes favouring pro-Beijing camp By Reuters

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HONG KONG (Reuters) - Hong Kong leader Carrie Lam announced amendments to voting laws on Tuesday that critics say favour pro-Beijing candidates by redrawing constituency boundaries, creating more electoral districts, and criminalising calls for voters to leave ballots blank. Having become Hong Kong's least popular chief executive in the near quarter century since the handover from British colonial rule, it remains unclear whether Lam will seek re-election. She faced the largest and most violent anti-government protests in 2019 after proposing a bill to allow extraditions to mainland China. Lam announced the poll date for the electoral...

13 April

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U.S. to Pause Distribution of J&J Vaccine Over Blood Clot Fears – NYT By Investing.com

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By Geoffrey Smith Investing.com -- The U.S. is to suspend the distribution of Johnson & Johnson (NYSE:JNJ)'s Covid-19 vaccine due to fears of linkages to rare blood clotting problems, the New York Times reported on Tuesday. Officials at both the U.S. Centers for Disease Control and Prevention and the U.S. Food and Drug Administration have subsequently confirmed that they have recommended the pause in the use of J&J's vaccine, due to "abundance of caution." At 7:25 AM ET (1225 GM), J&J stock fell 2.8% premarket. The news is a setback for the U.S.'s national vaccination campaign,...

13 April

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VW must repay customers who took loans on rigged diesels, says court By Reuters

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KARLSRUHE, Germany (Reuters) - Volkswagen (DE:VOWG_p) must fully compensate customers who took out loans to buy diesel cars that were discovered to be fitted with devices to cheat emissions tests, a German court has ruled. The Federal Court of Justice in Karlsruhe on Tuesday dismissed the German carmaker's appeal and said it has to pay 3,300 euros ($3,926) to a customer who bought one of its diesel cars in 2013, including interest payments on the loan. "The buyer must be provided for as if the purchase had not happened," judge Stephan Seiters said. The case at...

13 April

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Facebook oversight board widens scope to rule on content left up on platform By Reuters

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By Elizabeth Culliford (Reuters) -Facebook users will now be able to ask the company's independent oversight board to rule on content that has been left up on the platform, as well as what was taken down, in a key expansion of the board's scope. The board was created by Facebook Inc (NASDAQ:FB) in response to criticism of its handling of problematic content, but has been faulted by researchers and civil rights groups for its limited remit. Before this change, Facebook and Instagram users who had exhausted the appeals process could send cases of...

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U.S. Consumer Prices Jump in March After Stimulus as Economies Reopen By Investing.com

Bank of England’s chief economist Haldane to quit By Reuters

FedEx Gets Another Buy Rating on Improved Business Conditions By Investing.com

Morgan Stanley aims to support $750 billion in low-carbon investments by 2030 By Reuters

Britain to undertake deep-dive review of financial market after Brexit By Reuters

UK’s Johnson says COVID infections will rise as lockdown eases By Reuters

Hong Kong announces more electoral system changes favouring pro-Beijing camp By Reuters

U.S. to Pause Distribution of J&J Vaccine Over Blood Clot Fears – NYT By Investing.com

VW must repay customers who took loans on rigged diesels, says court By Reuters

Facebook oversight board widens scope to rule on content left up on platform By Reuters

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