27 August

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Bank of England removes paintings of governors linked to slave trade By Reuters

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By Huw Jones and Carolyn Cohn LONDON (Reuters) - The Bank of England said on Friday it has removed 10 oil paintings and busts of seven governors and directors who had known connections to the slave trade in the 18th and 19th centuries and hired a researcher on slavery for its museum. The British central bank said following Black Lives Matter protests last year that it would review its art collection. "The review is now complete and artworks depicting former Governors and Directors, where we have been able to establish links to the slave trade,...

27 August

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Britain to raise contactless payment limit to 100 stg on Oct. 15 By Reuters

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LONDON (Reuters) -Banks will start rolling out the new 100 pound ($137) spending limit for contactless payments from Oct. 15, Britain's banking industry body UK Finance said on Friday. Contactless payments surged during the pandemic, with some shops refusing to take cash to help prevent the spread of COVID-19. "Given the number of terminals which will need to be updated to accept the new limit, it will take some time to be introduced across all retailers," UK Finance said in a statement. Contactless payments accounted for 49% of all credit card and 65% of all debit...

27 August

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Dell, HP Slip on Worry Over Shortages, Muted Outlook By Investing.com

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By Dhirendra Tripathi Investing.com – Stocks of Dell (NYSE:DELL) and HP (NYSE:HPQ) traded lower in Friday’s premarket on worries over higher input costs and lengthening order backlogs due to component shortages. HP chief executive Enrique Lores told analysts after the company's quarterly results that it had a full quarter's worth of order backlogs that it hadn't been able to process yet. He added that he expected such problems to last well into 2022. Demand for semiconductor chips that go into laptops, desktops, mobile, cameras, printers and cars has exploded in the last one year due to...

27 August

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Europe’s banks lagging on sustainability – BlackRock study By Reuters

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By Simon Jessop LONDON (Reuters) - Europe's banks are proving slow to act on sustainability and have only a limited grasp of their exposure to environmental, social and governance-related risks, a report for the European Commission by asset manager BlackRock (NYSE:BLK) showed. The report, which will be used to help integrate sustainability into banking prudential rules, had proved contentious given the U.S. firm's role as an investor in many of the banks. The bloc's executive was chastised by European Ombudsman Emily O'Reilly (NASDAQ:ORLY) in November for failing to properly consider conflicts of interest in the...

27 August

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Japan’s July factory output to fall as Delta variant spreads in Asia: Reuters poll By Reuters

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By Kantaro Komiya TOKYO (Reuters) - Japan's industrial output likely fell in July as export demand for capital goods stagnated and supply chains were further disrupted by the spread of the Delta coronavirus variant in Asia, a Reuters poll showed on Friday. The poll also showed retail sales, a key barometer of consumer spending, were expected to post a fifth straight month of year-on-year gains in July, helped by growing demand for electronics and clothing. Factory output was projected to have fallen 2.5% from the previous month in the poll of 18 economists, dropping into contraction...

27 August

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Take Five: Adios summer By Reuters

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(Reuters) - Below are five events and themes likely to dominate global financial markets the coming week. 1/ NEW JOB! With almost two million new jobs created in the past two months, Friday's nonfarm payrolls data for August could prove key as investors assess just how close the Federal Reserve is to scaling back emergency stimulus. A Reuters poll forecast a 763,000 payrolls increase versus a 943,000 rise in July that gave the economy a powerful boost as it started the second half. But the Delta COVID-19 variant has cast a shadow over the growth outlook,...

27 August

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Asian shares inch up, caution prevails ahead of Jackson Hole By Reuters

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By Alun John HONG KONG (Reuters) - Asian shares were set for their best week since February on Friday as Chinese markets cheered a burst of central bank liquidity although broader enthusiasm was capped ahead of what could be a pivotal speech by the U.S. central bank chief. U.S. stock futures were up 0.2% in Asian hours, suggesting some optimism after sentiment on Thursday was dented by a deadly attack in Afghanistan, and after the Federal Reserve's more hawkish policymakers urged an end to stimulus. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.17%,...

27 August

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China Evergrande’s snowballing debt crisis By Reuters

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HONG KONG (Reuters) - China's most indebted property developer Evergrande Group is set to accelerate asset sales, amid increasing signs that policymakers are stepping in to avoid a hard landing for a company deemed too big to fail. Here is a timeline of events leading to its debt crisis and what the firm has done to raise funds so far: Aug 2017 Evergrande vows to cut its debt for the first time, aiming to slash net gearing ratio to 70% by June 2020 from 240% in June 2017. Nov 2018 The central bank names...

27 August

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Apple strikes App Store deal with small developers as it waits for ‘Fortnite’ ruling By Reuters

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By Stephen Nellis (Reuters) -Apple Inc on Thursday agreed to loosen App Store restrictions on small developers, striking a deal in a class-action lawsuit as the iPhone maker awaits a ruling by the same judge in a separate App Store dispute brought by the developer behind "Fortnite." The deal includes changes in how all developers can communicate with customers, an issue highlighted by the judge herself in the Fortnite case. But Apple (NASDAQ:AAPL) kept intact the vast majority of the App Store business practices that have been challenged in courts and legislatures. Instead it gave...

27 August

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EU set to launch formal probe into Nvidia’s takeover of Arm – FT By Reuters

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(Reuters) - The European Union is set to launch a formal competition probe into Nvidia's planned $54 billion takeover of British chip designer Arm early next month, the Financial Times reported on Friday, citing two people with direct knowledge of the process. The investigation is likely to begin after Nvidia officially notifies the European Commission of its plan to acquire Arm, according to the report https://www.ft.com/content/08fac465-71bf-4f9e-8ee0-11dd37943326. ...

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Bank of England removes paintings of governors linked to slave trade By Reuters

Britain to raise contactless payment limit to 100 stg on Oct. 15 By Reuters

Dell, HP Slip on Worry Over Shortages, Muted Outlook By Investing.com

Europe’s banks lagging on sustainability – BlackRock study By Reuters

Japan’s July factory output to fall as Delta variant spreads in Asia: Reuters poll By Reuters

Take Five: Adios summer By Reuters

Asian shares inch up, caution prevails ahead of Jackson Hole By Reuters

China Evergrande’s snowballing debt crisis By Reuters

Apple strikes App Store deal with small developers as it waits for ‘Fortnite’ ruling By Reuters

EU set to launch formal probe into Nvidia’s takeover of Arm – FT By Reuters

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