04 August

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Finablr re-branded WizzFinancial, merged into leading payments group By Reuters

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DUBAI (Reuters) - The financial consortium that bought struggling payments company Finablr will rebrand it as WizzFinancial and merge it with a newly-purchased Bahraini company to create the largest money transfer group in the region, it said on Tuesday. Switzerland-headquartered Prism Group AG and Abu Dhabi's Royal Strategic Partners in December bought Abu Dhabi-headquartered payments company Finablr for a nominal $1 after it ran into financial difficulties after a financial scandal involving Indian entrepreneur BR Shetty erupted last year. The same consortium has bought the Bahrain Financing Company (BFC), which works in money transfer and...

03 August

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Automakers mandate masks at all U.S. plants but not requiring vaccines By Reuters

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By David Shepardson WASHINGTON (Reuters) - Detroit's Big Three automakers and the United Auto Workers (UAW) union said on Tuesday they will reinstate requirements to wear masks at all U.S. plants, offices and warehouses beginning on Wednesday, but are not requiring workers to be vaccinated. The move is in response to the Center for Disease Control and Prevention’s (CDC) change in COVID-19 guidance for masks for fully vaccinated people related to the Delta variant, General Motors Co (NYSE:GM), Ford Motor (NYSE:F) Co and Chrysler parent Stellantis NV said in a joint statement with the union. Toyota...

03 August

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Online brokerage Robinhood jumps 29% to surge past offer price By Reuters

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(Reuters) - Robinhood (NASDAQ:HOOD) Markets finally on Tuesday got the share bounce that was predicted for last week's much-hyped Nasdaq launch, jumping as much as 29% as investors followed influential fund manager Cathie Wood into the stock. Shares of the online brokerage tumbled 8% in its listing last Thursday, surprising analysts who had expected strong support from the small-time traders that it services and for whom it had taken the unusual step of reserving 20%-35% of shares in the flotation. Filings, however, have since shown that company executives sold shares a day before the launch, with...

03 August

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Mortgage Boom Drives Biggest Jump in Household Debt Since 2013 By Bloomberg

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(Bloomberg) -- U.S. household debt rose at the fastest pace since 2013 in the second quarter, driven by a mortgage boom as Americans took advantage of low borrowing costs and sought more space to work from home. Household liabilities climbed $313 billion to $14.96 trillion as of the end of June, a 2.1% rise from three months earlier, the Federal Reserve Bank of New York said in a report published Tuesday. Most of the increase came in mortgage balances. With the average 30-year rate declining in the period, millions of Americans with good credit took the...

03 August

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FTSE 100 back above 7,100, GBP higher, WTI falls back below $70/bbl By Investing.com

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Key Points FTSE 100 closing price of 7105, +0.33% Earnings help FTSE eke out gains Smiths Group tumbles after deal to sell medical division GBP higher as Covid cases not rising; BoE in focus Oil falls on fears of China slowdown Bitcoin lower ahead of Gensler talk By Samuel Indyk Investing.com – The FTSE 100 finished higher on Tuesday, closing above 7,100, benefitting from some positive earnings results. BP (LON:BP) shares helped propel the index higher after the oil major boosted its dividend and share buybacks following a surge in profits. BP...

03 August

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China lodges representations with BBC over flood reporting By Reuters

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BEIJING (Reuters) -China has lodged a stern representation with Britain's BBC over its reporting of the floods in Henan and a statement over how foreign journalists were being treated, the foreign ministry said on Tuesday. The head of communications for the BBC World Service declined to comment. The broadcaster had said in a statement last month that the Chinese government should take immediate action to stop attacks which endanger foreign journalists. The Foreign Correspondents' Club of China had said journalists from several media outlets covering the floods were harassed online and by local residents, including some...

03 August

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Clorox Tanks On Hit From Inflation, Weaker Demand By Investing.com

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By Dhirendra Tripathi Investing.com – Clorox (NYSE:CLX) stock plummeted 11% in Tuesday’s premarket trading as inflation and weaker demand for cleaning products dented its fourth-quarter sales and profits. The company was a major beneficiary of the pandemic-induced scare as well as urge among the consumers to stock up on anything they thought would keep germs and viruses away. Cleaning of surfaces several times during the day became the norm. Sales of cleaning agents, disinfectants and sanitizers boomed then. The elevated demand came off in the June quarter as vaccinations gathered pace, the scare weakened, and people...

03 August

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UK takeovers hit 14-year high in first seven months of 2021 By Reuters

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LONDON (Reuters) -Takeovers of British companies hit a 14-year high by value in the first seven months of 2021, Refinitiv data shows, with no sign the buying spree is slowing after U.S. companies targeted a leading supermarket and defence groups. The total value of UK deals in the seven months was $198 billion, a more than threefold increase on the same period last year, which included the onset of the COVID-19 pandemic. Deals involving a British target totalled $34.9 billion in July, 5% less than June but more than seven times the value in...

03 August

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Sanofi bets on mRNA vaccines beyond COVID in $3.2 billion Translate Bio deal By Reuters

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By Matthias Blamont PARIS (Reuters) - Sanofi (PA:SASY) has agreed to buy U.S. biotech company Translate Bio in a $3.2 billion deal, as it bets on next-generation mRNA vaccine technology beyond the COVID-19 pandemic, confirming a Reuters exclusive report. Sanofi said it would acquire all outstanding shares of Translate Bio for $38.00 per share in cash, representing a total equity value of about $3.2 billion. The boards of both companies have approved the deal, and the chief executive of Translate Bio and the U.S. company's largest shareholder have backed it, Sanofi and Translate Bio said in...

03 August

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Australia central bank will trim bond buying even as Delta variant slams economy By Reuters

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SYDNEY (Reuters) - Australia's central bank surprised markets on Tuesday by standing its ground on a decision to taper its bond buying programme from September even as a fast-spreading Delta variant wrecks havoc in the economy. The Reserve Bank of Australia (RBA) kept its cash rate at 0.1% for its eighth straight meeting, in a widely expected move. It reiterated interest rates will not be raised until inflation was sustainably within its 2-3% target band, a goal unlikely to be met before 2024. The RBA also affirmed its decision made in July to trim its...

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Finablr re-branded WizzFinancial, merged into leading payments group By Reuters

Automakers mandate masks at all U.S. plants but not requiring vaccines By Reuters

Online brokerage Robinhood jumps 29% to surge past offer price By Reuters

Mortgage Boom Drives Biggest Jump in Household Debt Since 2013 By Bloomberg

FTSE 100 back above 7,100, GBP higher, WTI falls back below $70/bbl By Investing.com

China lodges representations with BBC over flood reporting By Reuters

Clorox Tanks On Hit From Inflation, Weaker Demand By Investing.com

UK takeovers hit 14-year high in first seven months of 2021 By Reuters

Sanofi bets on mRNA vaccines beyond COVID in $3.2 billion Translate Bio deal By Reuters

Australia central bank will trim bond buying even as Delta variant slams economy By Reuters

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