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Acciona aims to value energy unit at up to $10.8 billion in IPO By Reuters

(Reuters) - Spain's Acciona said on Monday it was targeting the lower end of an original price range for a listing which is set to value its renewable energy unit at up to 9.05 billion euros ($10.80 billion). Acciona decided to trim the price at which it will sell shares in its most profitable unit to 26.73-27.50 euros per share, from an initial range of 26.73-29.76 euros. Acciona Energia is due to start trading on the Madrid stock market on July 1, in one of the biggest listings in a record year so far in Europe....

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Big Banks, Consumer Confidence, Oil Stocks: 3 Things to Watch By Investing.com

By Dhirendra Tripathi Investing.com -- Stocks gave back some gains after reaching intraday highs early, and Facebook (NASDAQ:FB) got a late afternoon boost that propelled its market value above the $1 trillion mark. A federal judge tossed out the government’s antitrust lawsuit against Facebook Inc (NASDAQ:FB), ruling the Federal Trade Commissions and states don’t have valid claims. Facebook surged 3.6% Monday, and the tech-heavy NASDAQ Composite rose 0.9%. The S&P 500 was essentially flat for much of the day but finished up at another record. The blue chips dipped into the red....

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House to Vote on Its Version of U.S.-China Competitiveness Bills By Bloomberg

(Bloomberg) -- The House is set to vote Monday on two bills that may form the core of legislation in the chamber designed to boost U.S. research and development in response to China’s challenge to U.S. economic supremacy. Consideration of the bills -- one authorizing more funding for the National Science Foundation and the other providing additional money for the Department of Energy -- follows Senate passage of a comprehensive $250 billion measure that included more than $52 billion in incentives and grants for domestic semiconductor manufacturing. While the Senate pulled separate pieces of legislation...

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Morgan Stanley, JPMorgan, Bank of America, Goldman Sachs hike shareholder payouts By Reuters

(Reuters) - Morgan Stanley (NYSE:MS), JPMorgan Chase & Co (NYSE:JPM), Bank of America Corp (NYSE:BAC). and Goldman Sachs (NYSE:GS) Group said on Monday they were hiking their capital payouts after the U.S. Federal Reserve gave them a clean bill of health following their annual "stress tests" last week. Morgan Stanley delivered one of the biggest surprises to investors by announcing it would double its dividend to 70 cents a share in the third quarter. Some analysts had been expecting a boost of about 50 cents a share from the current 35 cents....

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UK’s JD Sports to buy 80% stake in Spanish online retailer Deporvillage By Reuters

(Reuters) -JD Sports Fashion said on Monday its Spanish unit would buy an 80% stake in online sports equipment retailer Deporvillage SL for 140.4 million euros ($168 million), as Britain's biggest sportswear chain expands its online presence. JD said Iberian Sports Retail Group SL - its 50.02% intermediate holding company in Spain - would buy the Manresa, Catalonia-based online retailer, focussing on specialist sports equipment mainly for cycling, running and outdoors. "Deporvillage has a strong consumer-centric approach and is the market leader in its categories in Spain with significant potential for further international development," said...

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Norway’s Equinor aims to triple UK hydrogen production capacity By Reuters

OSLO (Reuters) - Norwegian oil and gas firm Equinor said on Tuesday it had raised its hydrogen production goal in the United Kingdom to 1.8 gigawatts (GW), following a visit of Britain's Business Secretary Kwasi Kwarteng to Oslo. Equinor said it planned to add 1.2 GW of low-carbon hydrogen production capacity mainly to supply Keadby Hydrogen, the world's first major 100% hydrogen-fired power plant it is developing jointly with British utility SSE (LON:SSE). Pending support from the British government, the plant could start operations before the end of the decade, it added. Equinor's Chief Executive Anders...

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S&P 500, Nasdaq Close at Record on Tech Bets; Facebook Joins $1Tn Club By Investing.com

By Yasin Ebrahim Investing.com – The S&P 500 and Nasdaq closed at record highs Monday as a rally in Facebook and chip stocks pushed tech higher and offset an oil-led slump in energy ahead of a meeting by major oil producing nations later this week. The S&P 500 rose 0.2% to another record intraday high of 4,290.61. The Dow Jones Industrial Average slipped 0.44%, or 150 points, the Nasdaq was up 0.98% to a record of 14,500.51.  Tech rallied strongly led by Facebook after a federal court dismissed the Federal Trade Commission’s antitrust case against the social media...

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Facebook value hits $1 trillion after judge rejects antitrust lawsuits By Reuters

By Diane Bartz and Elizabeth Culliford WASHINGTON (Reuters) - A U.S. judge on Monday dismissed federal and state antitrust lawsuits against Facebook Inc (NASDAQ:FB) that sought to force the social media company to sell Instagram and WhatsApp. Facebook shares rose more than 4% after the ruling was issued. The share price rise put Facebook's market cap over $1 trillion for the first time. The dismissal was the first major blow to state and federal lawsuits filed against Big Tech firms last year. The actions were aimed at reining in alleged abuses of the massive...

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IMF says Africa urgently needs vaccines to halt repeated COVID waves By Reuters

WASHINGTON (Reuters) - COVID-19 infections in Africa will likely exceed previous peaks within days, underscoring an urgent need to accelerate vaccine supplies and financing to the region, International Monetary Fund Managing Director Kristalina Georgieva said on Monday. Georgieva said in a blog posting with IMF Africa Department director Abebe Selassie that sub-Saharan Africa, already with the lowest vaccination rates in the world at less than 1% of the population, again risks having its health care systems overwhelmed without immediate action. "Without significant, upfront, international assistance - and without an effective region-wide vaccination effort - the near-term...

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Rubin Sees ‘Material Risk’ High U.S. Inflation Will Be Enduring By Bloomberg

(Bloomberg) -- Former Treasury Secretary Robert Rubin said there’s a “material risk” that the U.S. could see persistently elevated inflation and urged policy makers to be careful to avoid overheating. Rubin, who served in the Clinton administration, also said ex-Obama administration adviser Larry Summers has done “a great public service” by ringing alarm bells that the recent spike in prices may fail to dissipate amid trillions of dollars in pandemic-relief spending. “We have a strong economy,” Rubin said Monday during a virtual Aspen Ideas Festival event. While inflation may be transitory, he said “there’s a material...

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