13 April

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White House zeros in on chip shortage in meeting with company officials By Reuters

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By Nandita Bose WASHINGTON (Reuters) - U.S. President Joe Biden told a meeting with executives from major companies to discuss the global chip shortage on Monday that he has bipartisan support for legislation to fund the semiconductor industry. He will urge Congress to invest $50 billion in semiconductor manufacturing and research as part of his broader focus on rebuilding U.S. manufacturing as a powerhouse for the world's largest economy - and a source of good-paying jobs - after years of declining investments and productivity growth, a senior administration official said. "Today I received a letter from...

13 April

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Reuters to name Alessandra Galloni as its next editor-in-chief By Reuters

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(Reuters) - Reuters News is set to name one of its top editors, Alessandra Galloni, as its next editor-in-chief, the first woman to lead the globe-spanning news agency in its 170-year history. A native of Rome, Galloni, 47, will replace Stephen J. Adler, who is retiring this month after leading the newsroom for the past decade. Under his leadership, Reuters has received hundreds of journalism awards, including seven Pulitzer Prizes, the industry’s highest honor. A speaker of four languages, and with broad experience covering business and political news at Reuters and previously at the Wall...

13 April

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S&P 500 Closes Just Below All-Time High as Investors Await Earnings By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 closed just below a record high Monday, but struggled for direction as investors awaited guidance from the start of quarterly earnings season this week. The S&P 500 fell 0.02%, to end the day just below its closing record of 4,128.80, the Dow Jones Industrial Average fell 0.16%, or 54 points, and the Nasdaq Composite was down 0.36%. Cyclical corners of the market - barring energy - were in the ascendency, led by real estate, consumer discretionary and financials, with the latter coming under the spotlight as major banks...

13 April

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Credit Suisse cuts bonuses following Archegos loss – FT By Reuters

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(Reuters) - Credit Suisse (SIX:CSGN) Group AG has cut bonuses for its staff by hundreds of millions of dollars after it lost $4.7 billion from the collapse of hedge fund Archegos Capital, the Financial Times reported on Monday. The Swiss bank's pre-tax income for the first quarter was expected to be just over $3.7 billion, with about $600 million achieved through reductions to staff bonus and other one-off items, the newspaper said, citing people briefed on the bank's performance. Credit Suisse did not immediately respond to a Reuters request for comment. The magnitude of...

12 April

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WTO chief seeks solutions to ‘glaring’ vaccine inequity, upbeat on IP waiver By Reuters

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By Emma Farge GENEVA (Reuters) - The head of the World Trade Organization said on Monday a meeting this week to tackle "glaring" inequity in COVID-19 vaccine allocation will be attended by major manufacturers and look at solutions such as firing up idle or under-used manufacturing plants in Africa and Asia. WTO Director-General Ngozi Okonjo-Iweala, a former Nigerian minister and World Bank executive who took up the position last month, has vowed to "forget business as usual" at the ailing 25-year-old global trade watchdog and said her top priority was to address the COVID-19 pandemic....

12 April

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Italy prepares new 40 billion euros economic stimulus package – source By Reuters

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ROME (Reuters) - Italy's government is preparing a new stimulus package worth around 40 billion euros ($47.60 billion) to support its coronavirus-battered economy, a source close to the matter said on Monday. The extra borrowing will probably push this year's budget deficit above 10% of gross domestic product (GDP), up from 9.5% in 2020 when the economy shrank by 8.9% as a result of the coronavirus curbs, a government source told Reuters last week. The money will fund additional grants to businesses forced to close due to coronavirus restrictions and extend an existing debt moratorium...

12 April

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Nvidia, Volvo Cars accelerate auto industry’s data-processing power race By Reuters

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By Joseph White DETROIT (Reuters) - Volvo Cars said Monday it will use a new generation of high-powered chips from Nvidia Corp to enable more autonomous driving functions in future vehicles, starting next year. Volvo is among a crowd of new and established automakers putting digital processing power ahead of horsepower as they try to catch up with Tesla Inc. Nvidia, a maker of high-powered chips for gaming and data processing centers, has benefited from the computing power race among automakers. Company Chief Executive Jensen Huang told investors Monday Nvidia forecasts it can generate...

12 April

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Canada shares lower at close of trade; S&P/TSX Composite down 0.04% By Investing.com

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Investing.com – Canada equities were lower at the close on Monday, as losses in the Healthcare, Materials and Clean Technology sectors propelled shares lower. At the close in Toronto, the S&P/TSX Composite declined 0.04%. The biggest gainers of the session on the S&P/TSX Composite were Imperial Oil Ltd (TSX:IMO), which rose 3.65% or 1.13 points to trade at 32.06 at the close. Corus Entertainment Inc (TSX:CJRb) added 3.35% or 0.21 points to end at 6.47 and Stantec Inc (TSX:STN) was up 3.08% or 1.71 points to 57.16 in late trade....

12 April

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Coinbase, Consumer Prices, Chip Stocks: 3 Things to Watch By Investing.com

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By Liz Moyer Investing.com -- Earnings season kicks off in high gear this week, and Wall Street is hanging on what executives describe as the outlook for the next few months. These words could be a factor on the market, depending on what they say. Stocks let off a little steam on Monday ahead of the earnings reports. The major indexes have advanced to record highs as the reopening trade fuels optimism that the worst of the pandemic is over. Looking back on the last year is not as instructive as what the immediate future says, some...

12 April

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Veolia, Suez agree $15 billion utilities merger after bitter spat By Reuters

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By Sarah White and Sudip Kar-Gupta PARIS (Reuters) -Veolia and Suez announced a merger deal on Monday worth nearly 13 billion euros ($15.44 billion) after months of wrangling between the two French waste and water management companies. Rivals since the 19th century, Veolia pursued the smaller Suez arguing that together they could better fight off new global challengers emerging in China. The companies would also be better placed to innovate in growth areas such as environmental services and recycling, Veolia said. The agreement values Suez at 20.50 euros ($24.4) per share or 12.8...

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White House zeros in on chip shortage in meeting with company officials By Reuters

Reuters to name Alessandra Galloni as its next editor-in-chief By Reuters

S&P 500 Closes Just Below All-Time High as Investors Await Earnings By Investing.com

Credit Suisse cuts bonuses following Archegos loss – FT By Reuters

WTO chief seeks solutions to ‘glaring’ vaccine inequity, upbeat on IP waiver By Reuters

Italy prepares new 40 billion euros economic stimulus package – source By Reuters

Nvidia, Volvo Cars accelerate auto industry’s data-processing power race By Reuters

Canada shares lower at close of trade; S&P/TSX Composite down 0.04% By Investing.com

Coinbase, Consumer Prices, Chip Stocks: 3 Things to Watch By Investing.com

Veolia, Suez agree $15 billion utilities merger after bitter spat By Reuters

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