24 June

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Exclusive-EssilorLuxottica considers suing GrandVision over 7 billion euro deal -source By Reuters

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By Claudia Cristoferi (Reuters) -Spectacles maker EssilorLuxottica is considering suing its takeover target GrandVision after a court ruled that the Dutch eyewear retailer had violated the terms of their 7.2 billion euro ($8.6 billion) proposed acquisition agreement, a source with knowledge of the matter told Reuters. EssilorLuxottica, the French-Italian maker of Ray-Ban sunglasses, announced the bid for GrandVision in July 2019, aiming to control the Dutch eyewear group's more than 7,000 outlets across the world. But the planned deal has since been at the centre of a legal battle between the two sides, with EssilorLuxottica arguing...

24 June

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Global Investment Is Becoming Less Reliant on China, Citi Says By Bloomberg

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(Bloomberg) -- The global investment cycle is set to become less dependent on China and more broadly supported as countries around the world ramp up spending to offset coronavirus damages, Citigroup Inc (NYSE:C). said. China alone contributed to 47% of global investment growth on average in the years from 2010 through 2019, and 33% of global GDP, Citigroup economists led by David Lubin wrote in a report. But that era of China-dependence will come to an end, they say, given the strong fiscal and monetary policy stimulus elsewhere. The contribution of...

24 June

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Google delays Chrome’s blocking of tracking cookies to late 2023 By Reuters

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By Paresh Dave (Reuters) -Google's Chrome web browser will not fully block tracking cookies until late 2023, the Alphabet (NASDAQ:GOOGL) Inc company said on Thursday, delaying by nearly two years a move that has drawn antitrust concerns from competitors and regulators. Google had wanted to bar reams of ad-personalization companies from gathering users' browsing interests through cookies from January 2022. But rivals accused the world's biggest online ads seller by revenue of using improved privacy as a pretense to gain greater market share. Alphabet shares were up 0.5% in early Thursday afternoon trading. But shares soared...

24 June

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France’s Natixis fined 7.5 million euros in sub-prime exposure case By Reuters

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PARIS (Reuters) -A French criminal court on Thursday fined investment bank Natixis 7.5 million euros ($8.95 million) after finding it guilty of misleading investors in 2007 on its financial strength related to its sub-prime exposure. Eric Dezeuze, a lawyer for the bank, said Natixis was lodging an appeal against the ruling as the bank denied any wrongdoing. "Natixis still considers that it communicated to the public, with all due sincerity, the information available to the company regarding its exposures," the lender said in a statement after the ruling. Natixis was among the French banks hit the...

24 June

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First Solar Jumps As U.S. Bars Solar Products Made in China’s Xinjiang By Investing.com

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By Dhirendra Tripathi Investing.com – First Solar (NASDAQ:FSLR) shares soared more than 7% in Thursday’s trading following the Biden administration’s decision barring some solar products made in China’s Xinjiang. This was done to counter alleged human rights abuses against China’s ethnic Uyghur Muslim minority. Xinjiang -- where advocacy groups and a panel of U.N. experts say Uyghurs and other minorities have been subjected to mass arbitrary detention and forced to work against their will -- produces roughly half of global supply of polysilicon, a material critical for solar panels and semiconductors, according to Bloomberg. China has...

24 June

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U.S. lobby group views India’s e-commerce plan as worrying, email shows By Reuters

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By Aditya Kalra and Abhirup Roy NEW DELHI (Reuters) - A top lobby group that is part of the U.S. Chamber of Commerce believes India's proposed new e-commerce rules are a cause for concern and will lead to a stringent operating environment for companies, according to an email reviewed by Reuters. India this week spooked online retailers like Amazon (NASDAQ:AMZN) and Walmart (NYSE:WMT)'s Flipkart by outlining plans to limit "flash sales", reining in a private label push and mandating them to have a system to address grievances. The Washington-headquartered U.S.-India Business Council (USIBC), of which Amazon...

24 June

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GBP falls as BoE unchanged, FTSE 100 flies above 7,100 By Investing.com

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Key Points FTSE 100 closing price of 7111.68, +0.53% Bank of England keeps rates, QE unchanged, sees inflation spike as transitory GBP falls following decision, gilts jump FTSE benefits from weaker GBP Deliveroo surges after appeals court ruling Travel stocks in focus Cryptocurrencies steady By Samuel Indyk Investing.com – UK assets were impacted by the Bank of England’s latest monetary policy decision on Thursday with the FTSE 100 closing back above 7,100, GBP/USD dropping back below 1.3900 and United Kingdom 10-Year yields dropping back below 0.74%. The central bank kept policy instruments on hold – Bank...

24 June

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Incoming euro zone data ‘very strong’, ECB’s Schnabel says By Reuters

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FRANKFURT (Reuters) - The euro zone economy is now growing rapidly and incoming economic indicators point to strong recovery, European Central Bank board member Isabel Schnabel said on Thursday. "It's fair to say that now we are actually at a turning point," Schnabel, the head of the ECB's market operations, told an online lecture. "If you look at any of the indicators that are coming in, like the PMIs or other confidence indicators, you see that they are all very strong, very optimistic, and they point towards a strong recovery this year," Schnabel said....

24 June

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Skoda aims for at least half its European car sales by 2030 to be electric By Reuters

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PRAGUE (Reuters) - Skoda Auto, part of Germany's Volkswagen (DE:VOWG_p) Group, wants electric cars to make up at least half of its sales in Europe by 2030 as it transitions from motor engines in the coming decade, the Czech carmaker said on Thursday. As part of its strategy, Skoda will unveil at least three more all-electric models, adding to two models currently. The new models will be positioned below its Enyaq iV electric SUV. Skoda has not set a date on when it will fully transition away from motor engines but aims to have...

24 June

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EU slightly cuts estimates for vaccine deliveries this year By Reuters

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By Sabine Siebold and Francesco Guarascio BRUSSELS (Reuters) -The European Commission estimates European Union countries will receive about 900 million doses of COVID-19 vaccines in the second half of the year, compared to nearly 1 billion shots it expected a month ago, an internal document showed. The document, which the EU executive shared with EU leaders at a summit in Brussels on Thursday, also showed the EU is forecast to receive fewer doses in the first half of the year, compared to its own predictions in late May. This is not expected to affect the EU's...

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Exclusive-EssilorLuxottica considers suing GrandVision over 7 billion euro deal -source By Reuters

Global Investment Is Becoming Less Reliant on China, Citi Says By Bloomberg

Google delays Chrome’s blocking of tracking cookies to late 2023 By Reuters

France’s Natixis fined 7.5 million euros in sub-prime exposure case By Reuters

First Solar Jumps As U.S. Bars Solar Products Made in China’s Xinjiang By Investing.com

U.S. lobby group views India’s e-commerce plan as worrying, email shows By Reuters

GBP falls as BoE unchanged, FTSE 100 flies above 7,100 By Investing.com

Incoming euro zone data ‘very strong’, ECB’s Schnabel says By Reuters

Skoda aims for at least half its European car sales by 2030 to be electric By Reuters

EU slightly cuts estimates for vaccine deliveries this year By Reuters

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