30 August

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Dollar pinned as Powell plods toward tapering By Reuters

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By Tom Westbrook SINGAPORE (Reuters) - The dollar was nursing losses on Monday and kept near multi-week lows after Federal Reserve Chair Jerome Powell laid out a slower-than-expected path to rate hikes, while a storm lashing oilfields in the Gulf of Mexico lifted oil-exposed currencies. The greenback had dropped broadly on Friday, falling to a two-week low on the euro, after Powell managed to flag an exit from emergency monetary policy settings that did not spook markets or suggest a rush to raise interest rates. "It could be appropriate to start reducing the pace of asset...

30 August

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Clubhouse launches surround-sound feature to help chats feel life-like By Reuters

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By Sheila Dang (Reuters) - Clubhouse, an audio-only chat app, said on Sunday it will launch a spatial audio feature to make voices sound as if they're coming from different directions, helping conversations and virtual performances feel more life-like. The app, which is backed by venture capital firm Andreessen Horowitz, jumpstarted the social audio trend last year and became known for chatrooms of thousands that included chief executives and celebrities. However, it faces increasing competition from larger tech giants like Facebook (NASDAQ:FB), Twitter (NYSE:TWTR) and Spotify, which have all introduced their own social audio chat features....

29 August

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UK records 61 COVID deaths and 33,196 cases By Reuters

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LONDON (Reuters) - Britain recorded a further 61 COVID deaths and 33,196 more cases on Sunday, official data showed. Infections in the last seven days rose by 5.8% on the week before, and weekly deaths jumped by 16%. The Sunday figure for fatalities tends to be lower than weekdays due to a delay by some hospitals in reporting deaths. Britain has recorded an average of 114 daily deaths in the last week. ...

29 August

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Wave of Expiring Treasury Options Adds Risk to Jackson Hole By Bloomberg

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(Bloomberg) -- A flood of Treasury options set to expire Friday may dictate the bond market’s reaction to Federal Reserve Chair Jerome Powell’s long-awaited speech on the economic outlook. More than 2 million options in the September 10-year contract, which is 63% of total options open interest in Treasuries, expire by the end of trading Friday, raising the prospect for volatility in the wake of Powell’s remarks scheduled to start at 10 a.m. New York time. For months, Treasury option traders have been amassing hedges against swings in 10-year yields, in part with this week’s Jackson...

29 August

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White House calls for ‘urgent’ action to prevent evictions after Supreme Court decision By Reuters

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WASHINGTON (Reuters) - The White House said it regretted the Supreme Court's decision on Thursday to end the Biden administration's pandemic-related federal moratorium on evictions, and urged states, cities, landlords and others to do what they could to help. White House press secretary Jen Psaki said the eviction moratoriums issued by the Centers for Disease Control and Prevention (CDC) had saved lives by preventing the spread of the COVID-19 virus throughout the pandemic. The court, which has a 6-3 conservative majority, granted a request by the challengers to lift the CDC moratorium that was to have...

29 August

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Exxon reducing Baton Rouge, Louisiana, refinery production on storm threat -sources By Reuters

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HOUSTON (Reuters) - Exxon Mobil Corp (NYSE:XOM) is cutting production at its Baton Rouge, Louisiana, refinery to 50% of its 520,000 barrel-per-day (bpd) capacity ahead of the expected landfall of Hurricane Ida on Sunday, sources familiar with plant operations said on Saturday. Exxon is shutting one of the two 110,000-bpd gasoline-producing fluidic catalytic crackers at the refinery, the sources said. Hurricane Ida is forecast to pass near Baton Rouge at hurricane strength by Monday, according to the U.S. National Hurricane Center. Exxon is also shutting some units in the adjoining chemical plant...

29 August

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Tesla’s Musk signals concerns over Nvidia deal for UK chip maker -The Telegraph By Reuters

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(Reuters) - Tesla Inc Chief Executive Elon Musk has signaled competition concerns over Nvidia Corp's planned purchase of British chip designer Arm, the Telegraph reported on Saturday, citing multiple sources. E-commerce giant Amazon.com Inc (NASDAQ:AMZN) and smartphone maker Samsung Electronics (LON:0593xq) Co Ltd have also lodged opposition to the deal with U.S. authorities, the newspaper reported. Earlier this year, the U.S. Federal Trade Commission opened an in-depth probe into the takeover. The probe findings are expected in the coming weeks, according to the newspaper. Tesla, Amazon, Samsung and Nvidia did not immediately respond to...

29 August

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Barclays buys $3.8 billion Gap credit card portfolio in the U.S By Reuters

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By Lawrence White LONDON (Reuters) -Barclays said on Friday its United States arm will buy a $3.8 billion credit card portfolio co-branded with clothing retailer The Gap Inc (NYSE:GPS), as the British bank continues a strategy of partnering with big brands to grow in the U.S.. Barclays (LON:BARC) is buying the portfolio from Synchrony Bank, and the deal is expected to close in the second quarter of next year. The deal comes at a time when banks worldwide are trying to expand fee-earning businesses such as credit cards, amid rock-bottom central bank interest rates...

29 August

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Google Play app store revenue hit $11.2 billion in 2019, lawsuit says By Reuters

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By Paresh Dave OAKLAND, Calif. (Reuters) -Alphabet Inc's Google (NASDAQ:GOOGL) generated $11.2 billion in revenue from its mobile app store in 2019, according to a court filing unsealed on Saturday, offering a clear view into the service's financial results for the first time. Attorneys general for Utah and 36 other U.S. states or districts suing Google over alleged antitrust violations with the app store also said in the newly unredacted filing that the business in 2019 had $8.5 billion in gross profit and $7 billion in operating income, for an operating margin of over 62%. ...

29 August

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Researchers, cybersecurity agency urge action by Microsoft cloud database users By Reuters

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By Joseph Menn (Reuters) - Researchers who discovered a massive flaw in the main databases stored in Microsoft Corp (NASDAQ:MSFT)'s Azure cloud platform on Saturday urged all users to change their digital access keys, not just the 3,300 it notified this week. As first reported by Reuters https://www.reuters.com/technology/exclusive-microsoft-warns-thousands-cloud-customers-exposed-databases-emails-2021-08-26, researchers at a cloud security company called Wiz discovered this month they could have gained access to the primary digital keys for most users of the Cosmos DB database system, allowing them to steal, change or delete millions of records. Alerted by Wiz, Microsoft rapidly fixed...

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News

Dollar pinned as Powell plods toward tapering By Reuters

Clubhouse launches surround-sound feature to help chats feel life-like By Reuters

UK records 61 COVID deaths and 33,196 cases By Reuters

Wave of Expiring Treasury Options Adds Risk to Jackson Hole By Bloomberg

White House calls for ‘urgent’ action to prevent evictions after Supreme Court decision By Reuters

Exxon reducing Baton Rouge, Louisiana, refinery production on storm threat -sources By Reuters

Tesla’s Musk signals concerns over Nvidia deal for UK chip maker -The Telegraph By Reuters

Barclays buys $3.8 billion Gap credit card portfolio in the U.S By Reuters

Google Play app store revenue hit $11.2 billion in 2019, lawsuit says By Reuters

Researchers, cybersecurity agency urge action by Microsoft cloud database users By Reuters

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