23 June

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Inflation Overshoot Has Bank of Canada Weighing Mandate Tweaks By Bloomberg

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(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Bank of Canada Governor Tiff Macklem is in the final stages of a mandate review that could see him request more authority from Prime Minister Justin Trudeau’s government to run the economy hot. The central bank’s five-year inflation targeting mandate is up for renewal this year, with few signs a major overhaul is in the works. But Macklem might lean toward design and communication changes to the 2% target, perhaps by focusing on labor-market metrics or putting more emphasis on the...

23 June

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Irish government to begin phased exit from Bank of Ireland holding By Reuters

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By Padraic Halpin DUBLIN (Reuters) - Ireland's government will begin to sell down part of its 13.9% shareholding in Bank of Ireland over the next six months, Finance Minister Paschal Donohoe said on Wednesday, marking the state's first sale of any bank shares since 2017. Ireland pumped 64 billion euros ($76.3 billion) or almost 40% of its annual economic output - into its banks a decade ago after a property crash had left its now mostly state-owned banking sector requiring the biggest state rescue in the euro zone. Bank of Ireland was the only lender...

23 June

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Sterling hits 2-1/2 month high against euro, investors eye PMI By Reuters

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By Ritvik Carvalho LONDON (Reuters) - Sterling hit a 2-1/2 month high against the euro on Wednesday and gained for a third straight session against the dollar, continuing a recovery after it fell in the wake of last week's Federal Reserve meeting. Recent movements in the pound have been dollar-driven, as investors price in earlier than expected asset purchase tapering from the Federal Reserve, after the U.S. central bank signalled last week higher rates in 2023. By 0749 GMT, sterling was 0.3% higher at $1.3979. It was also up 0.3% against the euro at 85.35 pence,...

23 June

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LSE’s Refinitiv suffers new outage By Reuters

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By Tom Westbrook and Huw Jones SINGAPORE/LONDON (Reuters) - London Stock Exchange Group (LON:LSEG)'s Refinitiv news and data platform Eikon experienced an outage for several hours on Wednesday, the company said, the second such glitch in as many months. Refinitiv said services began suffering problems at 0119 GMT, hitting banks and other financial firms during the trading day in Asia. Some customers complained on Twitter as the European trading session began but it was unclear how many users were affected. "We are aware of an ongoing incident currently impacting certain users being unable to...

23 June

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Britain’s Persimmon, Aviva to amend home leases after inquiry By Reuters

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By Pushkala Aripaka (Reuters) - Persimmon (LON:PSN) Homes and a fund managed by Aviva (LON:AV) have agreed to measures called for by Britain's competition regulator as part of an ongoing investigation into possible mis-selling of leasehold homes and high ground rents. Insurer Aviva will remove "unfair" ground rent terms and repay owners whose rents were doubled, the Competition and Markets Authority (CMA) said on Wednesday. Persimmon will offer leasehold owners an option to get complete ownership of their property at lower rates. The regulator launched the investigation in September with cases against...

23 June

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Hong Kong pro-democracy tabloid Apple Daily to print last edition on Thursday By Reuters

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By Sharon Abratique HONG KONG (Reuters) -Hong Kong's pro-democracy tabloid Apple (NASDAQ:AAPL) Daily said it will print its last edition on Thursday, after a tumultuous year in which it was raided by police and its tycoon owner and other staff were arrested under a new national security law. The end of the popular 26-year-old tabloid, which mixes pro-democracy discourse with racy celebrity gossip and investigations of those in power, has escalated alarm over media freedom and other rights in the Chinese-ruled city. The paper's newsroom was raided by 200 police in August last year when...

23 June

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Men took bigger jobs hit in pandemic, ECB study finds By Reuters

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FRANKFURT (Reuters) - Men suffered bigger jobs losses across the euro zone during the COVID-19 pandemic, a European Central Bank study found on Wednesday, confounding some earlier predictions that women would take a bigger hit as they are overrepresented in the most affected sectors. Men accounted for more than 60% of the jobs losses last year, while in terms of hours worked they suffered more than two-thirds of the overall drop, the ECB said in an Economic Bulletin article. With women heavily represented in the leisure and hospitality sector, some economists and even ECB...

23 June

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Heineken takes control of India’s United Breweries By Reuters

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BRUSSELS (Reuters) - Heineken NV, the world's second largest beer maker, has taken control of India's largest brewer United Breweries Limited (UBL), cementing its position in a vast market where beer consumption could grow from a low base. The Dutch brewer said on Wednesday it had it had bought 39.6 million shares in UBL to push its holding to 61.5% from 46.5% before. Based on Tuesday's close at 1,466 Indian rupees, the acquisition would be worth 58.1 billion Indian rupees ($781.3 million). UBL is the maker of India's top-selling Kingfisher (LON:KGF) lager and...

23 June

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Vertu Motors shares jump on guidance boost By Investing.com

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By Samuel Indyk Investing.com – Shares in Vertu Motors (LON:VTU) were trading higher on Wednesday morning after the company upped its profit guidance following strong trading trends in the early part of the year. The automotive retailer said the strong trading performance in the early part of the year has been driven largely by the “exceptional” used car market environment and now anticipates that full year adjusted profit before tax will be above current expectations in the range of £28mln-£32mln. Note of caution Although the board remains confident in the company’s prospects, they sounded a note...

23 June

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Technology stocks lead Europe higher ahead of business activity data By Reuters

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(Reuters) - European technology stocks jumped on Wednesday after a record finish for their U.S. peers overnight, while the pan-European STOXX 600 hovered below record highs as investors awaited business activity data from across the euro zone. The benchmark STOXX 600 was up 0.2%, while the technology index rose 0.6% and was among the biggest sectoral gainers. ...

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News

Inflation Overshoot Has Bank of Canada Weighing Mandate Tweaks By Bloomberg

Irish government to begin phased exit from Bank of Ireland holding By Reuters

Sterling hits 2-1/2 month high against euro, investors eye PMI By Reuters

LSE’s Refinitiv suffers new outage By Reuters

Britain’s Persimmon, Aviva to amend home leases after inquiry By Reuters

Hong Kong pro-democracy tabloid Apple Daily to print last edition on Thursday By Reuters

Men took bigger jobs hit in pandemic, ECB study finds By Reuters

Heineken takes control of India’s United Breweries By Reuters

Vertu Motors shares jump on guidance boost By Investing.com

Technology stocks lead Europe higher ahead of business activity data By Reuters

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