01 July

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Euro zone recovery faces risks from virus mutations, ECB’s Lagarde says By Reuters

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FRANKFURT (Reuters) - The euro zone economy may well avoid the most pessimistic scenario envisaged at the start of the COVID-19 pandemic but it still faces risks from virus mutations, European Central Bank President Christine Lagarde said on Thursday. The ECB is beginning to debate whether to cut back on its massive bond-buying programme as the economy emerges from its coronavirus-induced slump, with divisions emerging between policymakers in different countries. "The improved economic outlook on the back of rapid progress in vaccination campaigns has reduced the probability of severe scenarios," Lagarde told the European Parliament. "Of...

01 July

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Carnival Gains On Share Swap Buyback, Revised Term Loan And Cruises By Investing.com

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By Dhirendra Tripathi Investing.com – Carnival (NYSE:CCL) rose 1% Thursday on a stock swap repurchase program, revised terms for cheaper loans, and more cruises getting launched. Carnival is undertaking a two-step exercise under which the U.S. company, Carnival Corp, is selling its equity to raise up to $500 million in an at-the-market offering. Carnival Corp could use the same money to buy 18.38 million shares of U.K.-based Carnival Plc (LON:CCL), an effort that could go on till January 31 next year. The U.S. unit intends to sell the shares in the offering only when the ordinary...

01 July

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General Motors quarterly sales get boost from strong SUV demand By Reuters

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(Reuters) -U.S. automaker General Motors Co (NYSE:GM) on Thursday posted a 40% jump in second-quarter U.S. sales on strong demand for its sport utility vehicles (SUVs), and said the trend will continue into 2022. Low interest rates, government stimulus and a preference for private vehicles due to the COVID-19 pandemic have bolstered auto demand in the United States, even as prices have risen due to tight inventories following a global semiconductor shortage. Consumers are purchasing more expensive vehicles despite smaller discounts, boosting profitability for automakers and retailers, according to industry consultants J.D. Power and LMC...

01 July

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Fendi teams up with Thelios as LVMH focuses on eyewear By Reuters

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ROME (Reuters) - Fendi, part of France's LVMH (PA:LVMH), said on Thursday it had struck a partnership deal with spectacle maker Thelios to create, produce and distribute the Italian fashion house's eyewear collection. Thelios is a joint venture between LVMH and Italian spectacle maker Marcolin, in which the luxury group holds a 51% stake. The Autumn/Winter 2021 collection will be the first to be launched under the new partnership and will include both prescription and sun glasses, the two companies said in a joint press release. "This collaboration is an important step for both...

01 July

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BoE’s Bailey: don’t over-react to temporary jump in inflation By Reuters

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By Andy Bruce and William Schomberg LONDON (Reuters) -Bank of England Governor Andrew Bailey said on Thursday it was important not to over-react to a rise in inflation that was likely to prove temporary during Britain's economic recovery from the COVID-19 crisis. Echoing the message from the BoE's June policy meeting last week, Bailey said the reasons the central bank thought inflation would not prove to be persistent were "well-founded". "It is important not to over-react to temporarily strong growth and inflation, to ensure that the recovery is not undermined by a premature tightening in...

01 July

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OPEC Meeting, Jobless Claims, President Xi, Bitcoin – What’s Moving Markets By Investing.com

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By Peter Nurse Investing.com -- OPEC meets with Russia and others to decide whether or not to raise oil output, U.S. initial jobless claims are due; Bitcoin starts receiving official acceptance, while Chinese President Xi talks of the need for a solution to the 'Taiwan problem', while again warning foreigners against 'bullying' it. Here's what's moving markets on Thursday, July 1st. 1. OPEC+ meeting eyed Crude oil prices edged higher Thursday, aided by lower U.S. inventories, as investors awaited news from a meeting of top producers over future production levels. By 5.48 AM ET, U.S. crude...

01 July

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Factbox-UK aims to strengthen London as a global financial centre By Reuters

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LONDON (Reuters) - Britain's finance ministry set out reforms to capital markets on Thursday to sharpen the City of London's global attraction after leaving the European Union. Below are details of what was announced to amend a welter of financial rules inherited from the EU: INSURANCE CAPITAL RULES The ministry said there is a compelling case to amend insurance capital rules known as Solvency II. It said there is a strong case to change the "risk margin" and "matching adjustment" rules, and to cut the burden of how insurers calculate their core solvency capital requirement. The...

01 July

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Germany ready to double state aid for semiconductor industry – minister By Reuters

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(Fixes day of week in lead paragraph) BERLIN (Reuters) - Germany is ready to double state support for the semiconductor industry, Economy Minister Peter Altmaier said on Thursday, as Europe's largest economy strives to broaden its high-technology industrial base. Altmaier made the comments on a trip to Dresden, the region's largest semiconductor industry cluster, where he visited plants run by Infineon and GlobalFoundries. He has already earmarked 5 billion euros ($5.9 billion) in government money to support chip makers under a European Union-backed scheme. Citing "high interest from significant investors from outside Germany", Altmaier told a...

01 July

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Explainer-Binance, the giant crypto exchange under regulatory scrutiny By Reuters

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By Tom Wilson and Huw Jones LONDON (Reuters) - Britain's financial watchdog has barred major cryptocurrency exchange Binance from carrying out regulated activities, the latest in a string of moves against the platform by authorities across the world. Here are answers to some key questions on Binance, one of the world's biggest exchanges, and what the latest regulatory moves mean. HOW BIG IS BINANCE? Very. Trading volumes in June were $662 billion, up almost ten-fold from July 2020, according to data from CryptoCompare. On a single day in May, daily volumes hit $92 billion,...

01 July

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Public Health England: AstraZeneca COVID shot 94% protective against death in over 65s By Reuters

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LONDON (Reuters) -Two doses of the Oxford/AstraZeneca COVID-19 vaccine gives an estimated 94% protection against death from the disease in people over 65, Public Health England said on Thursday in a weekly surveillance report of real-world data. PHE said the majority of the data was derived from a period when the Alpha variant, first detected in England, was still dominant and did not provide a specific estimate of protection from death that the vaccine offered against the now more widespread Delta variant, first detected in India. PHE also said that for the under 40s, early...

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Euro zone recovery faces risks from virus mutations, ECB’s Lagarde says By Reuters

Carnival Gains On Share Swap Buyback, Revised Term Loan And Cruises By Investing.com

General Motors quarterly sales get boost from strong SUV demand By Reuters

Fendi teams up with Thelios as LVMH focuses on eyewear By Reuters

BoE’s Bailey: don’t over-react to temporary jump in inflation By Reuters

OPEC Meeting, Jobless Claims, President Xi, Bitcoin – What’s Moving Markets By Investing.com

Factbox-UK aims to strengthen London as a global financial centre By Reuters

Germany ready to double state aid for semiconductor industry – minister By Reuters

Explainer-Binance, the giant crypto exchange under regulatory scrutiny By Reuters

Public Health England: AstraZeneca COVID shot 94% protective against death in over 65s By Reuters

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