05 July

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Didi U.S. debut overshadowed by China cybersecurity probe By Reuters

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BEIJING (Reuters) - China's cyberspace regulator has announced a cybersecurity investigation into Chinese ride-hailing giant Didi Global Inc and ordered that Chinese app stores halt downloads of its app, days after the company's U.S. initial public offering. Following are key events in Didi's IPO: Oct 20, 2020 - Didi is considering Hong Kong for an IPO in 2021, Reuters reports, dropping previous aims to list in New York amid rising Sino-U.S. tensions, with a target valuation of more than $60 billion. March 24, 2021 - Didi leans towards New York over Hong Kong for its...

05 July

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Canada shares higher at close of trade; S&P/TSX Composite up 0.27% By Investing.com

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Investing.com – Canada equities were higher at the close on Monday, as gains in the Energy, REITs and IT sectors propelled shares higher. At the close in Toronto, the S&P/TSX Composite rose 0.27% to hit a new all time high. The biggest gainers of the session on the S&P/TSX Composite were Cascades Inc . (TSX:CAS), which rose 5.35% or 0.81 points to trade at 15.95 at the close. Fairfax Financial Holdings Ltd (TSX:FFH) added 4.12% or 22.13 points to end at 559.13 and Brookfield Business Partners LP (TSX:BBU_u) was up 3.71%...

05 July

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Coop, other ransomware-hit firms, could take weeks to recover, say experts By Reuters

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By Supantha Mukherjee and Colm Fulton STOCKHOLM (Reuters) - Computer systems of several companies across the world, including 800 physical grocery stores of Sweden's Coop, that were shut down after attacked by REvil ransomware could take weeks to recover, cyber security experts said. Hackers from the REvil cybercrime gang compromised systems of IT firm Kaseya and malware trickled down to its resellers and reached end customers such as Coop who used its software. The ransomware locked data in encrypted files and late on Sunday hackers demanded $70 million to restore the data. The REvil actors...

05 July

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ECB open to giving banks more time to rebuild capital buffers By Reuters

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FRANKFURT (Reuters) - The European Central Bank is open to giving banks in the euro zone more time to rebuild capital buffers if the current crisis leads to a material deterioration of asset quality, ECB bank supervisor Andrea Enria said on Monday. "We plan to stick to the flexibility that we provide banks, to use the capital buffers until at least 2022," Enria told an online conference. "But we can also reconsider the time path if there were to be a significant materialisation of asset quality problems." "We don’t want to start tightening again the...

05 July

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UK PM Johnson’s spokesman: Morrisons takeover proposals are commercial matter By Reuters

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LONDON (Reuters) - Takeover proposals for British supermarket chain Morrisons are a commercial matter for the companies involved, a spokesman for Prime Minister Boris Johnson said on Monday. "It remains a commercial matter for individual businesses as to how they're structured and funded so it wouldn't be for me to comment on specific firms," the spokesman said when asked if the government had looked at possible intervention in any deal. ...

05 July

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Didi cybersecurity probe blindsides shareholders days after debut By Reuters

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By Julie Zhu, Kane Wu and Scott Murdoch HONG KONG (Reuters) - Chinese regulators have gained a reputation for aggressive action, but even hardened investors were shocked by the announcement of a probe into ride-hailing firm Didi just two days after its $4.4 billion New York stock market debut. While Didi's initial public offering (IPO) prospectus did mention some of the regulatory risks to its operations, there was no indication that the Cyberspace Administration of China (CAC) would begin investigating the company and ban it from accepting new users during the review. Didi said on Monday...

05 July

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Chances for EDF reform by end of Macron’s term diminishing -sources By Reuters

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By Benjamin Mallet, Elizabeth Pineau and Sarah White PARIS (Reuters) - The pathway for France to restructure power group EDF (PA:EDF) before the 2022 presidential election has narrowed dramatically with only a tiny legislative window left and key backers reducing efforts to get the reform done, five people familiar with the process said. If the reform is not launched before the vote in April next year, that will disappoint EDF shareholders as well as investors more widely, for whom it was an emblem of the business-friendly changes President Emmanuel Macron promised early in his term. "Officially...

05 July

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IMF chief warns of ‘dangerous divergence’ in COVID recovery By Reuters

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PARIS (Reuters) -The head of the International Monetary Fund warned on Monday of a "dangerous divergence" between wealthy and developing countries as they seek to recover from the COVID-19 pandemic. Kristalina Georgieva said that strong growth in wealthy countries like the United States was "good news" but developing countries were being held back by slow vaccination rates. "That is danger for the coherence of growth and it is also a danger for global stability and security," she told the Paris Peace Forum where the heads of the World Trade Organization (WTO) and World Bank also spoke....

05 July

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Italian watchdog takes aim at delivery firm’s gig-worker algorithms By Reuters

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MILAN (Reuters) - Italy's data protection authority on Monday ordered the delivery firm Foodinho, owned by the Spanish start-up Glovo, to change the computer algorithms used to manage staff to avoid any discrimination, after finding breaches of privacy and labour laws. The move comes as a debate on how to regulate workers' rights in the digitised "gig economy" is unfolding around the world. The European Commission has opened a public consultation on potential EU-wide rules. Trade unions say management algorithms on international platforms are eroding gig workers' wages and rights, just as lockdowns to contain the...

05 July

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FTSE 100 finishes higher as pubs, Morrisons rally, oil steady as OPEC+ meets By Investing.com

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Key Points FTSE 100 closing price of 7164.47, +0.58% Morrisons shares jump as takeover agreed, PE circling Pubs and restaurants rally as restrictions set to be eased Oil steady as OPEC+ tries to resolve differences Bitcoin struggles to break above $35K By Samuel Indyk Investing.com – The FTSE 100 finished Monday’s session in the green, supported by travel & leisure stocks and supermarkets. Morrisons (LON:MRW) led the way higher after the company accepted a takeover offer from Fortress worth £6.3 billion, with other suitors also interested. Apollo Global Management confirmed they were considering making an offer...

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News

Didi U.S. debut overshadowed by China cybersecurity probe By Reuters

Canada shares higher at close of trade; S&P/TSX Composite up 0.27% By Investing.com

Coop, other ransomware-hit firms, could take weeks to recover, say experts By Reuters

ECB open to giving banks more time to rebuild capital buffers By Reuters

UK PM Johnson’s spokesman: Morrisons takeover proposals are commercial matter By Reuters

Didi cybersecurity probe blindsides shareholders days after debut By Reuters

Chances for EDF reform by end of Macron’s term diminishing -sources By Reuters

IMF chief warns of ‘dangerous divergence’ in COVID recovery By Reuters

Italian watchdog takes aim at delivery firm’s gig-worker algorithms By Reuters

FTSE 100 finishes higher as pubs, Morrisons rally, oil steady as OPEC+ meets By Investing.com

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