21 June

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CNH Industrial in $2.1 billion deal to buy Raven Industries By Reuters

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MILAN (Reuters) - CNH Industrial has agreed a deal to buy Raven Industries to strengthen its position in the agricultural equipment business as the Italian-American vehicle maker prepares to spin off its truck, bus and engine operations. CNH Industrial will pay $58 per share for the U.S. agriculture technology company, a 33.6% premium to Raven's four-week volume-weighted average stock price, giving it an enterprise value of $2.1 billion, the companies said on Monday. "Precision agriculture and autonomy are critical components of our strategy," CNH Industrial Chief Executive Scott Wine said in a statement. Analysts at Bestinver Securities...

21 June

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Lagarde Says ECB Making ‘Good Progress’ on Strategy Overhaul By Bloomberg

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(Bloomberg) -- European Central Bank President Christine Lagarde said its governing council is making “good progress” in talks on the biggest overhaul of the institution’s monetary policy in almost two decades. The entire governing council met in person this weekend for the first time since the outbreak of the pandemic. The talks in Taunus, Germany aim to retool the ECB for the 21st century, with a new inflation goal, better ways of measuring the economy, and agreement on how to treat issues such as climate change and inequality. “I am glad we were able to...

21 June

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Bank of England set to stay split on QE after inflation jump By Reuters

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By David Milliken LONDON (Reuters) - Britain's top central bank officials look set to remain divided this week over whether to pull the plug on their 875 billion-pound ($1.2 trillion) government bond purchase programme, after inflation hit its highest in nearly two years. Bank of England chief economist Andy Haldane was alone in May when he voted to halt the quantitative easing (QE) bond purchases in August once they reached 825 billion pounds. Economists expect Haldane to retain this stance when the BoE announces its latest policy decision on Thursday and are looking to see if...

21 June

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UK minister says pretty sure pension ‘triple lock’ will stay By Reuters

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LONDON (Reuters) - Britain's business minister Kwasi Kwarteng said on Monday he was "pretty sure" the so-called 'triple lock' system for increasing state pensions would not be changed to pay for the cost of dealing with the COVID-19 pandemic. "Lots of things have been discussed in government, I don't think that that's necessarily the way forward," Kwarteng told Sky News. "I'm pretty sure the triple lock will stay." ...

21 June

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Goldman Sachs expands transaction bank to Britain By Reuters

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LONDON (Reuters) - Goldman Sachs (NYSE:GS) has launched its transaction bank in Britain, the firm said Monday, expanding the business after launching in the United States last year as it looks for steadier sources of revenue beyond its investment bank. The bank is to offer companies in Britain cash management services such as payment processing and payroll as it continues to grow in the country having launched its retail brand Marcus there in 2018. Goldman Sachs said its transaction banking business in the United States has attracted more than 250 clients since June last year,...

21 June

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What’s the plan? Corporate polluters lag on setting climate goals By Reuters

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By Patturaja Murugaboopathy and Simon Jessop LONDON (Reuters) - Scientists say the world needs to cut greenhouse gas emissions by at least 45% by 2030 to have any hope of meeting Paris Agreement targets for the middle of the century and averting catastrophic warming. Yet 41 of the world's 250 biggest corporate emitters - or 16% - are only just starting to assess their emissions, with no reduction targets set for any year, an analysis of data from research firm Signal Climate Analytics found. And while many of the 250 companies have set targets for 2050,...

21 June

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Stocks fall as hawkish Fed reverberates; Treasury yields slide By Reuters

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By Kevin Buckland TOKYO (Reuters) - Asian stocks dropped on Monday after last week's surprise hawkish shift by the U.S. Federal Reserve reduced the allure of riskier assets, while the Treasury yield curve flattened further with 30-year yields dropping below 2%. Japan's Nikkei led declines with a 3.6% drop and dipped below 28,000 for the first time in a month, while MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.4%. Chinese blue chips lost 0.7%. European stocks looked set to decline, with EuroSTOXX 50 futures down 1% and FTSE futures off 0.7%. Benchmark 10-year U.S....

21 June

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Singapore bank DBS starts trading on London Metal Exchange By Reuters

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(Reuters) - Singapore bank DBS said on Monday it has commenced commodity trading on the London Metal Exchange (LME), as metals prices surge on global economic recovery, after becoming the first bank in Asia to be issued bourse membership registered outside London. DBS has become one of four current LME Category 4 members, which allows the bank to trade for its own account and on behalf of clients but without a clearing ability. The climb in metals prices reflects abundant market liquidity, speculative buying and robust demand prospects in the next decade from the...

21 June

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Dollar holds near multi-month high after Fed’s hawkish tilt By Reuters

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TOKYO (Reuters) - The dollar held near multi-month peaks against other major currencies on Monday, after the U.S. Federal Reserve surprised markets last week by signalling it would raise interest rates and end emergency bond-buying sooner than expected. The dollar index, which tracks the greenback against six major currencies, stood at 92.232 after gaining 1.9% last week, its biggest rise since March 2020. On Friday, it jumped above key resistance around 91.95, marking a 61.8% retracement from its decline to 89.53 earlier this month from an April peak of 93.439. "Like many, I had expected the...

21 June

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German conservatives appeal to voters with vow not to hike taxes By Reuters

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BERLIN (Reuters) - German Chancellor Angela Merkel's conservatives promised to cap the corporate tax rate and not raise wealth and inheritance taxes in an election programme intended to see off the fading challenge of their main Greens rivals, a draft reviewed by Reuters showed on Monday. The manifesto is in stark contrast to plans by the Greens to raise taxes on high-income individuals and the rich to fund a transition to a carbon-neutral economy and makes it more difficult for the two parties to form a coalition government after September's election. The conservatives have extended their...

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News

CNH Industrial in $2.1 billion deal to buy Raven Industries By Reuters

Lagarde Says ECB Making ‘Good Progress’ on Strategy Overhaul By Bloomberg

Bank of England set to stay split on QE after inflation jump By Reuters

UK minister says pretty sure pension ‘triple lock’ will stay By Reuters

Goldman Sachs expands transaction bank to Britain By Reuters

What’s the plan? Corporate polluters lag on setting climate goals By Reuters

Stocks fall as hawkish Fed reverberates; Treasury yields slide By Reuters

Singapore bank DBS starts trading on London Metal Exchange By Reuters

Dollar holds near multi-month high after Fed’s hawkish tilt By Reuters

German conservatives appeal to voters with vow not to hike taxes By Reuters

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