31 August

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South Korea’s parliament passes bill to curb Google, Apple commission dominance By Reuters

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By Heekyong Yang SEOUL (Reuters) - South Korea's parliament on Tuesday approved a bill that bans major app store operators such as Google and Apple from forcing software developers to use their payment systems, effectively stopping them from charging commissions on in-app purchases. It is the first such curb by a major economy on the likes of Apple Inc (NASDAQ:AAPL) and Alphabet (NASDAQ:GOOGL) Inc's Google, which face global criticism for requiring the use of proprietary payment systems that charge commissions of up to 30%. The final vote was 180 in favour out of 188...

31 August

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88 Energy to raise funds via placing, shares dip By Investing.com

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By Samuel Indyk Investing.com – 88 Energy (LON:88E) shares were trading lower on Tuesday after the company proposed to raise AUD 20 million (£10.6 million) via a placing of new ordinary shares of no par value at a price per placing share of AUD 0.028 (equivalent to 1.49 pence). The placing price is equivalent to a discount of 12.5% to the closing price of the company’s shares on the Australian Securities Exchange. The placing comes ahead of the planned appraisal of the Merlin-2 well, which is scheduled for drilling during the Alaskan winter drilling window in...

31 August

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Ryanair ‘very keen’ on Boeing MAX 10 if price is right – O’Leary By Reuters

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BRUSSELS (Reuters) -Ryanair is eager to make a significant order for Boeing (NYSE:BA)'s 737 MAX 10 aircraft by next summer, but there has been no agreement on pricing so far, Chief Executive Michael O'Leary said on Tuesday. Ryanair is already the largest European customer for the 737 MAX, with 210 firm orders of the 197-seat MAX 8-200 model, and has said it is interested in striking a deal for the 230-seat MAX 10. "We're certainly very keen to place a MAX 10 order but only when the timing and the pricing is right," O'Leary...

31 August

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Exclusive-China regulator probes Ping An Insurance’s property investments -sources By Reuters

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SHANGHAI (Reuters) -China's banking and insurance sector regulator is probing Ping An Insurance Group Co of China Ltd's investments in the property market, two people with knowledge of the matter said, after the firm took a big profit hit from a soured bet. The China Banking and Insurance Regulatory Commission (CBIRC) has also ordered the insurer to stop selling alternative investment products, which are typically tied to the property market, said the people, who declined to be identified as the information is not public. Ping An in a statement said its real estate exposure was significantly...

31 August

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Stocks shrug off weak China PMIs, dollar slips By Reuters

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By Kane Wu HONG KONG (Reuters) - Asia stocks reversed earlier losses while the dollar was pinned near two-week lows on Tuesday, with investors staying mostly cautious on fresh signs of slowdown in China's economy. MSCI's gauge of Asia Pacific stocks outside Japan was up 1%, while Japan's Nikkei 225 bounced back strongly to stand 1.1% higher, despite weak July industrial output data. Hong Kong's Hang Seng Index recovered and was up nearly 1% while China's benchmark CSI300 Index widened losses to 0.37%. FTSE futures were trading 0.3% higher while E-mini futures for the S&P...

31 August

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French inflation stronger than expected in August at 3-year high By Reuters

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PARIS (Reuters) - French inflation accelerated more than expected in August at the fastest rate in nearly three years, a preliminary estimate from the INSEE official statistics agency showed on Tuesday. INSEE said its index of EU-harmonised consumer prices rose 0.7% from July, giving a 12-month inflation rate of 2.4%, jumping from 1.5% in July to hit the highest since October 2018. The surge exceeded expectations for a rate of 2.1% in a Reuters poll of 16 economists in which the highest forecast was 2.2%. Inflation has jumped worldwide as economies recover after the coronavirus...

31 August

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Zoom Video, Crowdstrike, Consumer Confidence: 3 Things to Watch By Investing.com

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By Dhirendra Tripathi Investing.com -- Stocks notched more intraday record highs on Monday, fueled by technology as investors stopped worrying so much about the Federal Reserve’s eventual and expected move to taper its bond buying. The S&P 500 and NASDAQ Composite both reached records and remained positive heading into the final minutes of trading. Apple Inc (NASDAQ:AAPL) jumped to an all-time high and other big tech stocks likeAmazon.com Inc (NASDAQ:AMZN) and Microsoft Corporation (NASDAQ:MSFT) gained. High-growth tech stocks do better in a low-rate environment because their value derives from future earnings, which are eroded as rates...

31 August

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Uber proposes industry-wide gig worker benefits model in Canada By Reuters

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By Tina Bellon (Reuters) -Uber Technologies Inc on Monday proposed a plan for a flexible benefits fund for app-based ride-hail and food delivery drivers in Canada under which all gig industry players would share data on workers' hours and earnings. Under the preliminary proposal outlined in a company blog post https://ubr.to/3t196jm, the fund would provide gig workers with cash benefits to put toward a retirement or life insurance plan, or to pay for educational or dental and health benefits not covered by Canada's universal healthcare system. The benefits fund would be enabled by Canada's provincial governments,...

31 August

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Young Chinese gamers vent at Beijing’s new rules as shares in gaming companies slide By Reuters

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By Brenda Goh (Reuters) -China's new rules forbidding under-18s from playing video games for more than three hours a week knocked shares in Tencent Holdings Ltd (HK:0700) and other gaming companies, while young players took to social media to express their outrage. Beijing said the new rules were necessary to stop growing addiction to what it once described as "spiritual opium". The People's Daily, the official newspaper of the ruling Communist Party, said in an article on Monday after the rules were announced that the government had to be "ruthless". It's "indisputable" that indulging...

31 August

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China Huarong in talks with investors after $16 billion loss By Reuters

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By Andrew Galbraith SHANGHAI (Reuters) -Chinese state-owned asset manager China Huarong Asset Management sought on Monday to turn the page on a deep annual loss, as its chairman said it was in talks with potential new strategic investors alongside a CITIC-led consortium. Wang Zhanfeng, on an earnings call a day after releasing results, said many investors continue to have faith in Huarong, and that it was speaking with potential new domestic and foreign strategic investors. On Sunday, Huarong announced a first-half 2021 profit of 158.3 million yuan ($24.5 million) and a nearly $16 billion loss for...

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News

South Korea’s parliament passes bill to curb Google, Apple commission dominance By Reuters

88 Energy to raise funds via placing, shares dip By Investing.com

Ryanair ‘very keen’ on Boeing MAX 10 if price is right – O’Leary By Reuters

Exclusive-China regulator probes Ping An Insurance’s property investments -sources By Reuters

Stocks shrug off weak China PMIs, dollar slips By Reuters

French inflation stronger than expected in August at 3-year high By Reuters

Zoom Video, Crowdstrike, Consumer Confidence: 3 Things to Watch By Investing.com

Uber proposes industry-wide gig worker benefits model in Canada By Reuters

Young Chinese gamers vent at Beijing’s new rules as shares in gaming companies slide By Reuters

China Huarong in talks with investors after $16 billion loss By Reuters

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