03 July

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Amazon to grant new CEO Jassy over $200 million in stock By Reuters

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By Jeffrey Dastin (Reuters) - Amazon.com Inc (NASDAQ:AMZN) plans to award incoming Chief Executive Andy Jassy more than $200 million in extra stock, which will pay out over 10 years, the company said in a regulatory filing on Friday. Amazon will record the grant of 61,000 shares on July 5, the filing said, the date that Jassy succeeds Jeff Bezos in the online retailer's first CEO transition since its founding in 1994. The award's exact value will depend on how the shares are trading when they pay out in future years, encouraging Jassy to grow a...

02 July

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Summers Says House Prices Are ‘Scary,’ Questions Fed MBS Buying By Bloomberg

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(Bloomberg) -- Former Treasury Secretary Lawrence Summers said the surge in U.S. house prices is “scary” and questioned the wisdom of the Federal Reserve continuing to purchase mortgage-backed securities as part of its stimulus campaign.Three days after data showed home prices jumped the most in 30 years in April, Summers told Bloomberg Television’s “Wall Street Week” with David Westin that such gains are inflationary and would likely drive other prices higher.“This is scary,” said Summers, a paid contributor to Bloomberg. “Rising house prices in most people’s common sense of the world represents inflation.” He predicted property...

02 July

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Facebook under fire as U.S. lawmakers press for new antitrust complaint By Reuters

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By Diane Bartz WASHINGTON (Reuters) -A bipartisan group of U.S. lawmakers expert in antitrust urged the Federal Trade Commission Friday to press on with its lawsuit against Facebook Inc (NASDAQ:FB), according to a statement from Senator Amy Klobuchar. In a letter to new FTC Chair Lina Khan, Klobuchar, Senator Mike Lee and Representatives David Cicilline and Ken Buck urged the FTC to "pursue enforcement action against Facebook and to consider all available options under the law for ensuring that the commission’s claims receive a full and fair hearing." Klobuchar and Cicilline, both Democrats, and...

02 July

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Britain’s cabinet office minister and wife to divorce By Reuters

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LONDON (Reuters) - Britain's cabinet office minister Michael Gove, one of Prime Minister Boris Johnson's most senior ministers, has separated from his wife and they are planning to divorce, the couple spokesperson said on Friday. "It is an entirely amicable separation and there is no one else involved. They have drifted apart over the past couple of years but they remain friends," said the spokesperson for Gove and his wife Sarah Vine, a well-known journalist. The spokesperson said they had "agreed to separate" and are "in the process of finalising their divorce". "They will continue to...

02 July

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Broadcom Slips As Regulator Decides To Press Monopoly Charges By Investing.com

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By Dhirendra Tripathi Investing.com – Broadcom stock (NASDAQ:AVGO) fell 1.5% during Friday’s session as the antitrust regulator decided to press charges alleging the company had monopolized the market for semiconductor components. It ordered “the semiconductor supplier to cease its anticompetitive conduct." Under a consent order that would settle the Commission’s charges, the regulator asked the company to “stop requiring its customers to source components from Broadcom on an exclusive or near exclusive basis”. As per FTC’s complaint, Broadcom is a monopolist in the sale of three types of semiconductor components, or chips, used in devices that...

02 July

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Lordstown Down 10% On Report Justice Department Is Probing It By Investing.com

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By Dhirendra Tripathi Investing.com – Lordstown Motors stock (NASDAQ:RIDE) fell 10% during Friday’s session after The Wall Street Journal reported the Department of Justice is probing the electric vehicle maker. The U.S. attorney’s office in Manhattan is handling the inquiry, still in its early stages, according to WSJ. The report quoted a company spokesman as saying it is committed to cooperating with any investigations and inquiries and looks forward to focusing on production with its new leadership team. The investigation is the latest challenge for the Ohio-based vehicle maker, which has been racked with months of...

02 July

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Exclusive-EU’s planned digital levy to cover hundreds of firms, Vestager says By Reuters

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By Foo Yun Chee BRUSSELS (Reuters) - A digital levy to be proposed by the European Commission in the coming weeks to fund its recovery from the COVID-19 pandemic will apply to hundreds of companies, the majority of them European, its executive vice-president Margrethe Vestager said. In a bid to fire up growth and foster a greener and more digital economy, the 27 European Union countries last year agreed to jointly borrow 750 billion euros ($887 billion) for a post-pandemic recovery fund. The borrowing, by the European Commission on behalf of EU countries, is to be...

02 July

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IBM Falls 4% As President Decides To Leave Amid Reshuffle At Top By Investing.com

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By Dhirendra Tripathi Investing.com – IBM stock (NYSE:IBM) fell more than 4% amid top leadership changes that include President Jim Whitehurst’s decision to leave. Whitehurst had played a pivotal role in the integration of Red Hat with the more than 90-year-old company. He will now work as senior advisor to IBM CEO Arvind Krishna and the rest of the executive leadership team. Bridget van Kralingen will step down as senior vice president, global markets, a role she decided to stay in to help in transition when Krishna took over as CEO in...

02 July

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Tesla Q2 deliveries meet analysts’ estimates as chip shortage weighs By Reuters

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By Hyunjoo Jin and Akanksha Rana (Reuters) -Tesla Inc on Friday posted record vehicle deliveries for the second quarter that were in line with Wall Street estimates as the electric-car maker coped with a shortage of chips and relied on sales of its cheaper models. Tesla weathered the global supply crisis better than legacy automakers, but CEO Elon Musk has warned of challenges of securing chips and raw materials. Now eyes are on its second-quarter earnings to see whether recent drops in bitcoin prices would have an adverse affect on Tesla's bottom line, due...

02 July

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Brazil prosecutor general asks for Bolsonaro investigation over vaccine deal By Reuters

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BRASILIA (Reuters) - Brazil's prosecutor general has requested an investigation of President Jair Bolsonaro over his conduct in negotiations to acquire an Indian COVID-19 vaccine, which has been steeped in scandal, according to a copy of the request seen by Reuters. The request from the prosecutor will have to be approved by Supreme Court Justice Rosa Weber and comes in response to a request from senators. The senators asked for an investigation over alleged corruption in the acquisition of vaccines. ...

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Amazon to grant new CEO Jassy over $200 million in stock By Reuters

Summers Says House Prices Are ‘Scary,’ Questions Fed MBS Buying By Bloomberg

Facebook under fire as U.S. lawmakers press for new antitrust complaint By Reuters

Britain’s cabinet office minister and wife to divorce By Reuters

Broadcom Slips As Regulator Decides To Press Monopoly Charges By Investing.com

Lordstown Down 10% On Report Justice Department Is Probing It By Investing.com

Exclusive-EU’s planned digital levy to cover hundreds of firms, Vestager says By Reuters

IBM Falls 4% As President Decides To Leave Amid Reshuffle At Top By Investing.com

Tesla Q2 deliveries meet analysts’ estimates as chip shortage weighs By Reuters

Brazil prosecutor general asks for Bolsonaro investigation over vaccine deal By Reuters

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