21 July

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Canada shares higher at close of trade; S&P/TSX Composite up 0.83% By Investing.com

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Investing.com – Canada equities were higher at the close on Wednesday, as gains in the Energy, Clean Technology and Materials sectors propelled shares higher. At the close in Toronto, the S&P/TSX Composite gained 0.83%. The biggest gainers of the session on the S&P/TSX Composite were SilverCrest Metals Inc (TSX:SIL), which rose 7.21% or 0.67 points to trade at 9.88 at the close. Vermilion Energy Inc . (TSX:VET) added 6.01% or 0.51 points to end at 8.99 and Turquoise Hill Resources Ltd. (TSX:TRQ) was up 5.90% or 0.99 points to 17.78 in...

21 July

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IMF to keep 2021 global growth forecast at 6% – Georgieva By Reuters

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By David Lawder WASHINGTON (Reuters) - The International Monetary Fund is estimating this month that global growth for 2021 will be about 6%, the same as forecast in April, but with some countries growing faster and others more slowly, IMF Managing Director Kristalina Georgieva said on Wednesday. Georgieva, speaking at an online event sponsored by the Peterson Institute for International Economics, said that economic recovery will be held back unless the pace of COVID-19 vaccination picks up, adding that a goal of ending the pandemic by the end of 2022 will not be reached at the...

21 July

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What, me worry? Fed chief’s emotional tone can drive markets, study suggests By Reuters

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By Howard Schneider WASHINGTON (Reuters) - Jerome Powell took over as head of the Federal Reserve in 2018 pledging a plain-spoken, language-of-the-people approach to talking about monetary policy. It turns out that's a bit of a downer: New research using artificial intelligence and voice analytics rates Powell as the most negative of the last three chairs of the U.S. central bank, with his predecessor Janet Yellen the best able to maintain a neutral tone at her news conferences and Ben Bernanke before that a comparative cheerleader. Fed emotions https://graphics.reuters.com/USA-FED/SPEAK/oakvedrbdpr/ Markets, in turn, may have...

21 July

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Central banks will accelerate rise of China’s yuan, global survey shows By Reuters

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By Marc Jones LONDON (Reuters) - The Chinese yuan is on course to become a much more influential part of the global financial system with almost a third of central banks planning to add the currency to their reserve assets, a closely followed survey showed on Wednesday. The Global Public Investor survey, published annually by the London-based OMFIF think tank, showed 30% of central banks plan to increase yuan holdings over the next 12-24 months, compared with just 10% last year. It comes despite the differences between Western governments and China on the global stage. The...

21 July

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Global chip shortage will easily drag into 2022 – Stellantis CEO By Reuters

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DETROIT (Reuters) - The global semiconductor chip shortage that has hit automakers around the world and constrained vehicle production will easily drag into next year, Stellantis Chief Executive Carlos Tavares said on Wednesday. ...

21 July

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AMC board names CEO Adam Aron as chairman By Reuters

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(Reuters) - Theater operator AMC Entertainment Holdings Inc on Wednesday named Chief Executive Officer Adam Aron as chairman, at a time when investors are pushing companies to separate the two roles to keep a check on management. Aron has served as CEO, president and member of AMC's board since 2016, having led the company to become the largest cinema operator in the world and maintain its liquidity when the pandemic hammered its business. One of so-called 'meme stocks', AMC soared in a Reddit-driven retail short squeeze in the beginning of the year. The company's shares were...

21 July

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Italy’s UniCredit streamlines CIB unit in new CEO’s revamp By Reuters

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MILAN (Reuters) - UniCredit has streamlined its corporate and investment banking division, an internal document showed, the latest step in a revamp launched by new Chief Executive Andrea Orcel. The former UBS investment banker has focused on simplifying the structure of UniCredit, Italy's only bank deemed of global significance by supervisors. The bank also has operations in Germany, Austria and Central and Eastern Europe. Within a month of arriving, Orcel had on May 12 unveiled an overhaul of UniCredit's top management structure, bringing in former lieutenants, axing co-heads and slashing the number of internal committees. At...

21 July

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Airbus delivers first A350 jet from Chinese completion plant By Reuters

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BEIJING/SYDNEY (Reuters) - Airbus on Wednesday delivered the first A350 widebody jet from its Tianjin final assembly line to China Eastern Airlines, further bolstering its industrial footprint in China relative to rival Boeing (NYSE:BA) Co. The work conducted in Tianjin on the jet includes cabin installation, painting, production flight test, and aircraft delivery, Airbus said in a statement. Foreign media were not allowed to attend the delivery event in Tianjin. Airbus has been more aggressive than Boeing in moving parts of its manufacturing process to China in the hope of increasing its share of...

21 July

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NatWest Chairman Says London Office Life Will Never Return By Bloomberg

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(Bloomberg) -- The changes wrought by the pandemic on U.K. office life are here to stay, according to the chairman of one of the country’s biggest banks. Natwest Group (NYSE:NWG) Plc’s Howard Davies said in a Bloomberg TV interview Wednesday that he doesn’t expect central London’s footfall to revert to pre-pandemic levels as office workers resist a return to five days a week in the office and the daily commute. “The days when 2,500 people walked in through our office door at Bishopsgate at 8:30 a.m. and then walked out again at 6 p.m., I think...

21 July

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Bank buffers not working as intended in crisis, says BoE’s Saporta By Reuters

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By Huw Jones LONDON (Reuters) -Banks felt a stigma about dipping into their capital buffers to keep on lending during last year's coronavirus-related market turmoil and lessons need to be learned, the Bank of England said on Wednesday. Markets suffered extreme bouts of volatility in March 2020 when the UK economy went into lockdown to fight the COVID-19 pandemic, starting the worst downturn in 300 years. Victoria Saporta, the BoE's executive director for prudential policy, said the UK banking system remained resilient through the pandemic and continued to provide credit to the economy. "The key issue...

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Canada shares higher at close of trade; S&P/TSX Composite up 0.83% By Investing.com

IMF to keep 2021 global growth forecast at 6% – Georgieva By Reuters

What, me worry? Fed chief’s emotional tone can drive markets, study suggests By Reuters

Central banks will accelerate rise of China’s yuan, global survey shows By Reuters

Global chip shortage will easily drag into 2022 – Stellantis CEO By Reuters

AMC board names CEO Adam Aron as chairman By Reuters

Italy’s UniCredit streamlines CIB unit in new CEO’s revamp By Reuters

Airbus delivers first A350 jet from Chinese completion plant By Reuters

NatWest Chairman Says London Office Life Will Never Return By Bloomberg

Bank buffers not working as intended in crisis, says BoE’s Saporta By Reuters

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