21 June

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DoorDash, Albertsons Rise On Tie-Up To Deliver On-Demand Grocery By Investing.com

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By Dhirendra Tripathi Investing.com – Shares of DoorDash (NYSE:DASH) and Albertsons Companies (NYSE:ACI) gained during Monday’s trading as the two companies signed an agreement to offer grocery delivery within an hour. As retail expands and the lines between digital and offline blur with each entering the other’s territory, quicker delivery of groceries is fast turning out to be a challenging turf and one that many are fighting to ace. DoorDash rose more than 5% and Albertsons over 2%. DoorDash will use its logistics network to deliver groceries from 2,000 Albertsons stores...

21 June

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Biden Sees Flaws in Latest Infrastructure Proposal, Advisers Say By Bloomberg

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(Bloomberg) -- President Joe Biden still sees sticking points in a draft bipartisan Senate infrastructure plan, as top aides warned Monday that they continue to explore other legislative pathways and will not support certain tax increases as part of a final deal. “We’re making progress, particularly on key investments that we need to build out our nation’s infrastructure and prepare for the clean energy economy that is coming,” National Economic Council Director Brian Deese told CNN on Monday. “We still have some sticking points, particularly around how we pay for this.” Deese reiterated Biden’s opposition to...

21 June

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Provident says EY backs lender’s view that doorstep unit had no value By Reuters

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(Reuters) - An independent assessment by Ernst and Young backs Provident Financial (LON:PFG)'s view that its doorstep lending unit will likely face insolvency if its 50 million pound ($69.6 million) settlement plan is not endorsed by a UK court, the company said on Monday. Referring to its consumer credit division, the company said: "The assessment undertaken by EY further supports PFG's position that CCD has no value." The subprime lending sector has been under regulatory scrutiny in recent years for charging sky-high interest rates to people who are struggling financially, with customer complaints against...

21 June

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Smith & Wesson Shoots Higher as Stellar Results Keep Street Happy By Investing.com

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By Christiana Sciaudone Investing.com -- Smith & Wesson Brands Inc (NASDAQ:SWBI) jumped more than 13%, still getting high off of last week's earnings. Shares are up more than 30% since the company reported after the close on June 17. Earnings per share of $1.71 are the best on record on sales of $333 million, also the most on record, according to data compiled by Investing.com. "Our employees more than doubled the prior year sales, passed a milestone of $1 billion in revenue, and by every financial and operating metric, have delivered the...

21 June

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Flywire Soars On Slew Of Bullish Calls By Investing.com

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By Dhirendra Tripathi Investing.com – Flywire (NASDAQ:FLYW) shares rose more than 4% in Monday’s trading as several brokerages issued bullish calls owing to growth potential at the cloud-based payments solutions provider. Among the ones sending out buy or outperform calls include JPMorgan (NYSE:JPM), Raymond James (NYSE:RJF), Wolfe Research, Citigroup (NYSE:C), BofA Securities (NYSE:BAC), William Blair, Goldman Sachs (NYSE:GS), RBC Capital and Guggenheim. Goldman Sachs analyst Matthew O'Neill put a $53 target for the stock, pointing out that the company is a payment processor for underserved verticals like healthcare...

21 June

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Soho House plans New York IPO By Reuters

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By Guy Faulconbridge LONDON (Reuters) -The Soho House private members club plans an initial public offering in New York under the name of Membership Collective Group Inc even though it has never been profitable. "Soho House has begun the process for an initial public offering on the New York Stock Exchange, with plans to list a company that will be known as the Membership Collective Group Inc., or MCG for short," founder Nick Jones said in an email to members seen by Reuters. "This move will enable us to accelerate our investment in improving both...

21 June

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ECB’s Centeno says euro zone inflation rise is temporary, sees no permanent effects By Reuters

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By Sergio Goncalves LISBON (Reuters) - The recent rise in inflation in the euro zone and the United States is temporary and is unlikely to have permanent effects, European Central Bank (ECB) Governing Council member Mario Centeno said on Monday. This means the ECB should be able to maintain its current asset purchase programme until March 2022 and liquidity support measures are expected to be in place "at least until June 2022", Centeno told a banking conference in Lisbon. "All analyses in the euro area, the U.S. and other jurisdictions indicate that the phenomena associated with...

21 June

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Air France and Wizz CEOs spar over airline regulation By Reuters

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By Laurence Frost and Alexander Cornwell PARIS (Reuters) - Traditional airlines need more time to recover before full competition for airport slots is restored, the head of Air France-KLM said on Monday, drawing a sharp response from Wizz Air counterpart Jozsef Varadi. The suspension of the "use-it-or-lose-it" rule has allowed major carriers to preserve airport access during the coronavirus crisis despite the collapse in traffic, sparking protests from low-cost rivals keen to expand into once-congested airports. Airlines were required to use 80% of pre-crisis take-off and landing slots or forfeit them to rivals. Major carriers...

21 June

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Let the vaccinated travel, UK air industry demands By Reuters

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LONDON (Reuters) - The aviation industry on Monday demanded that Britain removes COVID testing and isolation requirements for fully vaccinated travellers from most countries, a step already being taken in the European Union to help tourism recover. Airlines UK said in a letter to Transport Secretary Grant Shapps that fully vaccinated travellers from "amber" destinations should be exempt from the 10-day isolation requirement, while those coming from both "amber" and "green" countries should not need to have expensive PCR tests. "Given the incredible efficacy of vaccines and their critical role in easing domestic restrictions, we...

21 June

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UK financial sector urges caution over any ‘work from home’ law By Reuters

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By Huw Jones and Carolyn Cohn LONDON (Reuters) - How people divide their working hours between home and office should develop naturally over time and not be forced into law, senior financial services industry officials said on Monday. Britain has indicated it may legislate to allow people to work flexibly by dividing their time between the office and home, building on the experience of millions who have worked from home since COVID-19 forced lockdowns in March last year. Many firms have already said they plan a mix of home and office working once pandemic restrictions are...

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News

DoorDash, Albertsons Rise On Tie-Up To Deliver On-Demand Grocery By Investing.com

Biden Sees Flaws in Latest Infrastructure Proposal, Advisers Say By Bloomberg

Provident says EY backs lender’s view that doorstep unit had no value By Reuters

Smith & Wesson Shoots Higher as Stellar Results Keep Street Happy By Investing.com

Flywire Soars On Slew Of Bullish Calls By Investing.com

Soho House plans New York IPO By Reuters

ECB’s Centeno says euro zone inflation rise is temporary, sees no permanent effects By Reuters

Air France and Wizz CEOs spar over airline regulation By Reuters

Let the vaccinated travel, UK air industry demands By Reuters

UK financial sector urges caution over any ‘work from home’ law By Reuters

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