09 June

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EU parliament set to sue European Commission over rule-of-law inaction By Reuters

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By Jan Strupczewski BRUSSELS (Reuters) - The European Parliament looked set to back a resolution on Wednesday to sue the European Commission over what lawmakers say is its failure to uphold the rule of law, in a dispute that could affect the allocation of billions of euros in EU aid. Lawmakers accuse the executive Commission of dragging its feet over applying a new regulation - technically in force since Jan. 1 - that makes EU governments' access to funds conditional on their respect for the rule of law and democratic norms. They fear in particular...

09 June

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Qatar Airways halts A350 deliveries after jet surface problem By Reuters

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(Corrects paragraphs 16-17 to show that the aircraft is not on the premises of Satys Group, adds clarifying Satys comment) By Alexander Cornwell and Tim Hepher DUBAI/PARIS (Reuters) -Qatar Airways said on Tuesday the surface below the paint on some of its Airbus A350s was deteriorating faster than expected and insisted it would not take more deliveries of the carbon-composite widebody jet until the problem was resolved. The Gulf carrier has fallen out with the European planemaker, warning last week that Airbus faced "industrial repercussions" if it failed to resolve the dispute, while until now giving...

09 June

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Scottish study underscores rarity of blood disorders after Astra vaccine By Reuters

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FRANKFURT (Reuters) - A study of side effects following vaccination with AstraZeneca (NASDAQ:AZN)'s anti-COVID-19 shot in Scotland found only an association with a largely harmless bleeding condition and no link to brain clots, underscoring the rarity of potential complications. A group of researchers led by University of Edinburgh Professor Aziz Sheikh, who tracked the health of 5.4 million people in Scotland, found that about one additional case of idiopathic thrombocytopenic purpura (ITP) per 100,000 people occurred after the first injection with the of Astra vaccine. ITP is a treatable condition of low platelet count with a...

09 June

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Former Mongolian prime minister Khurelsukh wins presidency By Reuters

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By Anand Tumurtogoo ULAANBAATAR (Reuters) - Former Mongolian Prime Minister Ukhnaa Khurelsukh became the country's sixth democratically elected president on Wednesday, further consolidating the power of the ruling Mongolian People's Party (MPP). Khurelsukh, who was forced to resign as prime minister after protests earlier this year, had an insurmountable lead over Sodnomzundui Erdene of the opposition Democratic Party with most of the votes tallied in a national election. He will replace incumbent Khaltmaa Battulga, who was denied an opportunity to seek re-election following controversial changes to Mongolia's constitution that restricted presidents to one term...

09 June

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Facebook’s global ads chief Everson leaves company By Reuters

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(Reuters) - Facebook Inc (NASDAQ:FB) ads chief Carolyn Everson is leaving the company, she said in a post on the social media platform on Wednesday. "We wish Carolyn the best as she moves into a new chapter. We are grateful for her contributions," said a Facebook spokesperson in an emailed statement. Everson, who had been at Facebook more than a decade, was vice president of Facebook's Global Business Group. She was a key spokesperson for the company when more than 1,000 advertisers joined a Facebook boycott last summer over concerns it was...

09 June

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China’s highest producer inflation in over 12 years highlights global price pressures By Reuters

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BEIJING (Reuters) - China's May factory gate prices rose at their fastest annual pace in over 12 years due to surging commodity prices, highlighting global inflation pressures at a time when policymakers are trying to revitalise COVID-hit growth. Investors are increasingly worried pandemic-driven stimulus measures could supercharge global inflation and force central banks to tighten policy, potentially curbing the recovery. China's producer price index (PPI) increased 9.0%, the National Bureau of Statistics (NBS) said on Wednesday, as prices bounced back from last year's pandemic lows. The PPI rise in May - the fastest on-year gain...

09 June

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Japan policy blueprint focuses on green, digital, sticks to fiscal target for now By Reuters

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By Tetsushi Kajimoto TOKYO (Reuters) - Japanese Prime Minister Yoshihide Suga plans to accelerate investment in green projects and digital transformation, setting his eyes on new sources of economic growth in the post-COVID era, according to a draft blueprint of policy priorities for the coming fiscal year released on Wednesday. The first mid-year blueprint under Suga's administration marked a gradual shift away from the crisis mode seen last year when the focus centred on efforts to cope with the coronavirus pandemic. "It's a step in the right direction to spend money in the most promising areas,"...

09 June

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China’s Likely Bid for Tax Exemption Poses Risk to Global Accord By Bloomberg

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(Bloomberg) -- Rich nations are bracing for China to seek exemptions from a global minimum corporate tax, a potential stumbling block for governments racing to reach wider international consensus on the plan next month. Some officials see China as not easily signing on to the global minimum tax rate of at least 15% endorsed by Group of Seven finance ministers last week, people familiar with the discussions said on condition of anonymity because of the sensitivity of the talks. China has a basic corporate tax rate of 25% for most companies, but reductions for high-tech sectors...

09 June

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Google to build new undersea cable to connect Latin America and the U.S By Reuters

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(Reuters) - Alphabet (NASDAQ:GOOGL) Inc's Google said on Wednesday it was building an undersea cable that would connect the United States, Brazil, Uruguay and Argentina, to bolster internet connection capacity between these regions. The cable, called Firmina, will be the longest cable in the world, Google said https://cloud.google.com/blog/products/infrastructure/announcing-the-firmina-subsea-cable in a blog post, adding that it will run from the East Coast of the United States to Las Toninas, Argentina, with additional landings in Praia Grande, Brazil, and Punta del Este, Uruguay. "Firmina will improve access to Google services for users in South America. With...

09 June

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Fisker Rises as RBC Sees Strength in Asset-Light Model By Investing.com

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By Christiana Sciaudone Investing.com -- Fisker Inc (NYSE:FSR) rose more than 4% after RBC Capital Markets initiated coverage on the stock with a buy-equivalent. The analyst simultaneously slammed Lordstown Motors Corp (NASDAQ:RIDE), which just said it doesn't have enough money to start commercial production, giving it a sell-equivalent rating. The maker of battery electric vehicles has an attractive risk/reward profile, said analyst Joseph Spak, according to StreetInsider. “Fisker plans to bring BEVs to the market in a differentiated way, utilizing 3rd-party BEV platforms and contract manufacturing," Spak wrote. That will leverage the billions of dollars the...

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EU parliament set to sue European Commission over rule-of-law inaction By Reuters

Qatar Airways halts A350 deliveries after jet surface problem By Reuters

Scottish study underscores rarity of blood disorders after Astra vaccine By Reuters

Former Mongolian prime minister Khurelsukh wins presidency By Reuters

Facebook’s global ads chief Everson leaves company By Reuters

China’s highest producer inflation in over 12 years highlights global price pressures By Reuters

Japan policy blueprint focuses on green, digital, sticks to fiscal target for now By Reuters

China’s Likely Bid for Tax Exemption Poses Risk to Global Accord By Bloomberg

Google to build new undersea cable to connect Latin America and the U.S By Reuters

Fisker Rises as RBC Sees Strength in Asset-Light Model By Investing.com

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