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Car dealer Inchcape raises profit view; warns of chip shortage By Reuters

(Reuters) -Car dealership Inchcape said on Friday its current-year earnings will beat market estimates, helped by an uptick in demand following easing of pandemic-related restrictions. The company, which sells new and used cars, including premium brands including BMW, Audi and Mercedes-Benz, said it expects 2021 profit before tax to be significantly higher than the market consensus of 216 million pounds. That would still be lower than pre-pandemic annual earnings of 326 million pounds, but better than the profit of 129 million pounds for 2020. The company's shares were expected to be up between 2% and 7%,...

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BP to buy solar projects for up to 500 million euros in Spain – Expansion By Reuters

MADRID (Reuters) - Energy giant BP (LON:BP) is close to buying solar power projects for between 400 million euros and 500 million euros in Spain from conglomerate Grupo Jorge, Expansion newspaper reported on Friday, citing unidentified industry sources. Lightsource bp, BP's solar power unit, would take over a portfolio of photovoltaic power projects with a total potential capacity of 700 megawatts from Grupo Jorge, a privately held company with assets in pork meat, agriculture and renewable energy, Expansion said. Spain has become one of the most active markets for solar and wind power. Many...

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Tesco’s UK sales growth slows in latest quarter By Reuters

LONDON (Reuters) -Tesco, Britain's biggest retailer, reported a sharp slowdown in underlying UK sales growth in its first quarter, reflecting a tough comparison with the same quarter last year when the country was in the grip of its first COVID-19 lockdown. The group said UK like-for-like sales, excluding fuel and VAT sales tax, rose 0.5% in the 13 weeks to May 29 - ahead of analysts' average forecast of a fall of 1.0% but down from growth of 8.8% in the previous quarter. Comparing the quarter with the same quarter in 2019, before the pandemic...

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Asian shares up but set for weekly loss after hawkish Fed By Reuters

By Andrew Galbraith SHANGHAI (Reuters) - Asian shares inched higher on Friday but were set for a weekly loss, while the U.S. dollar hovered near two-month highs as investors continued to digest comments from the U.S. Federal Reserve projecting interest rate hikes in 2023. While the Fed messaging indicated no clear end to supportive policy measures such as bond-buying, signals of faster-than-expected rate hikes indicated concerns about inflation as the U.S. economy recovers from the COVID-19 pandemic. MSCI's broadest index of Asia-Pacific shares outside Japan was barely above water in morning trade after four sessions in...

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S&P 500 Trims Losses as Tech Bulls Feast on Falling Bond Yields By Investing.com

By Yasin Ebrahim Investing.com – The S&P 500 cut losses Thursday, as tech stocks moved atop the investing menu after U.S. bond yields reversed their jump a day earlier when the Federal Reserve delivered a hawkish surprise. The S&P 500 fell 0.04%. The Dow Jones Industrial Average was down 0.63%, or 217 points, and the Nasdaq Composite was up 0.33%. The move in lower in Treasury yields suggests that we're on a path to lower growth at a time when the Fed's view that inflation is transitory gains in popularity, creating the perfect cocktail for tech...

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New Zealand PM Ardern gets ‘pain-free’ COVID vaccine shot By Reuters

WELLINGTON (Reuters) - Prime Minister Jacinda Ardern received the her first shot of the Pfizer (NYSE:PFE) COVID-19 vaccine on Friday, as the country steps up efforts to inoculate its population. The Pacific island nation shut its borders and used tough lockdown measures to become one of the few countries to have virtually eliminated COVID-19 in the community, but the government is facing criticism for a slow rollout of vaccines. "I'm smiling under the mask," Ardern said as she sat down to receive the shot at a vaccination centre in Auckland, as the media watched...

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Japan Inc lag far behind women empowerment in management roles: Reuters poll By Reuters

By Tetsushi Kajimoto TOKYO (Reuters) - Women make up less than 10% of the management in most Japanese companies, as the country's corporate sector finds it difficult to meet the business lobby's aim of boosting the number of female executives in an ageing society, a Reuters poll showed. The survey results underscored Japan's struggle to raise the share of women in leadership roles to 30% as part of the biggest business lobby Keidanren's campaign to empower women, dubbed "womenomics". Japan's global ranking on gender parity stood at 121 of 153 countries in a World Economic Forum...

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Vicious post-Fed bounce has dollar headed for year’s best week By Reuters

By Tom Westbrook SINGAPORE (Reuters) - The dollar was headed for its best week in nearly nine months on Friday as investors have scrambled to price in a sooner-than-expected ending to extraordinary U.S. monetary stimulus in the days after a surprise shift in tone from the Federal Reserve. In the two sessions since Fed officials projected possible rate hikes in 2023, the greenback has busted from recent ranges and surged about 1.8% against the euro, even further against the Aussie and more than 1% against sterling and the kiwi. The dollar index has zoomed above its...

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