09 June

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UK pushes for City of London to be exempt from G7 global tax plan – Financial Times By Reuters

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(Reuters) - British finance minister Rishi Sunak is pushing for the City of London to be exempt from a new global minimum corporation tax system championed by the Group of Seven (G7) economies, the Financial Times reported on Tuesday. An official close to the talks said the UK was among those countries pushing "for an exemption on financial services" over fears that global banks with headquarters in London could be affected, the report said. Sunak raised the issue at the G7 talks in London, the report added, citing people briefed on the talks. The...

09 June

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Spain’s BBVA to cut 2,935 jobs in Spain, union says By Reuters

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MADRID (Reuters) - BBVA (MC:BBVA) has reached an agreement with unions to lay off 2,935 employees in Spain, around 12% of its banking workforce in its home market, the Comisiones Obreras (CCOO) union said on Tuesday. In April, BBVA said it was initially planning to cut 3,798 jobs and close 530 branches, almost a quarter of its offices, to adapt to a customer shift towards online banking. On Tuesday, a spokesman for CCOO said that the lender had also agreed to reduce the number of branches affected to 480. BBVA declined to comment. CCOO said in...

09 June

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European shares at fresh peaks as travel, real estate stocks lead By Reuters

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By Sruthi Shankar and Shreyashi Sanyal (Reuters) -European stocks hit new highs on Tuesday, lifted by travel and real estate shares, but weak German industrial output data and doubts over Britain lifting restrictions later this month capped gains. The pan-European STOXX 600 index closed 0.1% higher after notching a record high earlier in the session, with sectors considered more stable such as real estate and telecoms leading gains. The travel and leisure index rose 1.8%, supported largely by gains in low-cost carrier easyJet (LON:EZJ) after Goldman Sachs (NYSE:GS) upgraded the stock to "buy". German...

09 June

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Group of UK lawmakers call for raising age of sale of cigarettes to 21 -Sky By Reuters

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(Reuters) - A group of British members of parliament has called on the UK government to consider raising the age of sale of cigarettes to 21 from 18 to end the "tobacco epidemic" by the end of the decade, Sky News reported on Wednesday. The All Party Parliamentary Group on Smoking and Health said the age of sale should be increased from 18 as part of tougher regulations to stop children and young people from becoming smokers, as well as to help current smokers quit, the report added https:// ...

09 June

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Analysis: Remember me? With fast recovery, labour shortage haunts Eastern Europe By Reuters

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By Krisztina Than and Alan Charlish BUDAPEST/WARSAW (Reuters) - Central Europe's economies are recovering more quickly than expected from the coronavirus pandemic and industrial output is rising, but a chronic shortage of workers that pre-dates the crisis could be a bottleneck to future growth. The labour squeeze caused by years of emigration to Western Europe and an economic boom across the region is already pushing up wages and inflation, prompting the Hungarian and Czech central banks to flag possible interest rate hikes. As investment and European Union funds flow in, companies across the manufacturing, information...

09 June

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Biogen to start shipping Alzheimer’s drug in about two weeks By Reuters

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(Reuters) - Biogen Inc (NASDAQ:BIIB) said on Tuesday it expects to begin shipping its newly approved Alzheimer's drug Aduhelm in about two weeks and has prepared more than 900 healthcare centers for the intravenous infusion treatment. The U.S. Food and Drug Administration on Monday approved Aduhelm as the first treatment to target a likely underlying cause of Alzheimer's disease, sticky deposits of a protein called amyloid-beta. Biogen Chief Executive Officer Michel Vounatsos said on a call with analysts that the sites include clinical trial centers with currently confirmed amyloid-beta positive patients, as well as other locations...

09 June

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U.S. Senate passes sweeping bill to address China tech threat By Reuters

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WASHINGTON (Reuters) - The U.S. Senate on Tuesday voted 68-32 to approve a sweeping package of legislation intended to boost the country's ability to compete with Chinese technology, as Congress increasingly seeks to take a tough line against Beijing. The bipartisan measure authorizes about $190 billion for provisions to strengthen U.S. technology and research -- and would separately approve spending about $50 billion to increase U.S. production and research into semiconductors and telecommunications equipment. The bill must also pass the House of Representatives to be sent to the White House for President Joe Biden to...

09 June

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Half of Britons viewed adult websites last year, regulator says By Reuters

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LONDON (Reuters) - Around half of British adults visited a pornographic website or app in 2020, a year in which the COVID pandemic caused more activity of every kind to shift online, media regulator Ofcom said on Wednesday. About 26 million Britons visited an adult website or app in September 2020, with the largest, Pornhub, attracting around a third of online adults, representing half of all British men and 16% of British women, Ofcom said in its annual survey of the nation's online habits. Ofcom said it had started research on adult content as part of its...

09 June

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Analysis: Climate change: Central banks’ new inflation puzzle By Reuters

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By Mark John and Simon Jessop LONDON (Reuters) - For Bank of England chief Andrew Bailey, tackling climate change carries inflation risks if you do too little, too late. For Larry Fink, head of investment giant BlackRock (NYSE:BLK), the risk is if you go too fast. Who's right? The answer will depend on how policymakers, investors and consumers square up to the complex set of variables that, one way or another, will be disrupting the global economy in the not-too-distant future. World leaders will head to Glasgow in November for United Nations talks to map...

09 June

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EU to commit 311 billion euros to economy via budget, recovery grants in 2022 By Reuters

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BRUSSELS (Reuters) - The European Commission proposed on Tuesday committing 143.5 billion euros in grants next year to finance the EU's economic recovery and transformation, on top of 167.8 billion euros in grants that are to flow to EU countries from the annual 2022 EU budget. The additional grants on top of the regular budget are part of the European Union's special Next Generation EU scheme agreed last year under which the executive Commission will borrow 807 billion euros in current prices and disburse it in grants an cheap loans to EU governments until 2026. The...

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UK pushes for City of London to be exempt from G7 global tax plan – Financial Times By Reuters

Spain’s BBVA to cut 2,935 jobs in Spain, union says By Reuters

European shares at fresh peaks as travel, real estate stocks lead By Reuters

Group of UK lawmakers call for raising age of sale of cigarettes to 21 -Sky By Reuters

Analysis: Remember me? With fast recovery, labour shortage haunts Eastern Europe By Reuters

Biogen to start shipping Alzheimer’s drug in about two weeks By Reuters

U.S. Senate passes sweeping bill to address China tech threat By Reuters

Half of Britons viewed adult websites last year, regulator says By Reuters

Analysis: Climate change: Central banks’ new inflation puzzle By Reuters

EU to commit 311 billion euros to economy via budget, recovery grants in 2022 By Reuters

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