07 June

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S&P 500 Struggles for Direction; AMC Puts Squeeze on Short-Sellers Again By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 struggled for direction Monday, as investors awaited further catalysts, while the AMC-inspired meme trade rages on. The S&P 500 fell 0.26%, the Dow Jones Industrial Average was down 0.45%, or 155 points, and the Nasdaq Composite was up 0.16%. Both cyclicals and growth stocks were on the back foot amid a lack of investor appetite to buy stocks ahead of the key data due later this week including the consumer inflation data due Thursday. Inflation remains a hotly debated topic as investors fear that if price pressures spiral...

07 June

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Apple adds privacy protections for users, enables storage of IDs on iPhones By Reuters

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By Stephen Nellis (Reuters) - Apple Inc (NASDAQ:AAPL) on Monday said it will offer the ability to store state-issued identification cards digitally on iPhones and added user privacy protections on its iCloud service and email apps, among several updates to the software that runs on its devices. It also showed updates to its FaceTime video chat app, adding the ability to schedule calls with multiple attendees and making the software compatible with Android and Windows devices. The move, which puts Apple in more direct competition with companies like Zoom Video Communications Inc that gained...

07 June

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Timeline: The long road to approval of controversial Alzheimer’s treatment from Biogen By Reuters

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By Manojna Maddipatla (Reuters) - The U.S. Food and Drug Administration on Monday approved the first treatment of Alzheimer's disease in nearly two decades, Biogen Inc (NASDAQ:BIIB)'s aducanumab, after a long development process including one large trial that failed to meet its goal. This is the first approved Alzheimer's drug to treat a cause of the disease rather than just symptoms. The following lays out the twisting process of how the drug from Biogen and partner Eisai Co Ltd finally won approval: 2007: University of Zurich spin-off Neurimmune Therapeutics licensed worldwide exclusive rights of aducanumab...

07 June

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Global banking regulator in step closer to crypto capital rules By Reuters

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By Huw Jones LONDON (Reuters) - The Basel Committee on Banking Supervision will consult on how lenders should shield themselves from crypto assets, the global banking watchdog said on Monday, as regulators turn up the heat on a growing but risky investment sector. "The committee agreed to publish a consultation paper to seek the views of external stakeholders on the design of prudential treatment of banks' exposures to cryptoassets," the Swiss-based watchdog said in a statement. Prudential (LON:PRU) rules force banks to assign "risk weightings" to each type of asset such as loans or...

07 June

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Microsoft Gains As Morgan Stanley Reiterates Bullish Outlook By Investing.com

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By Dhirendra Tripathi Investing.com – Microsoft (NASDAQ:MSFT) shares were inching towards a 1% gain Monday as Morgan Stanley (NYSE:MS) reiterated its bullish outlook on the stock with a $300 target. The target is 18.5% higher than the stock’s current level of $253. “Multiple years of solid top-line growth, expanding margins and an expanding multiple have investors concerned the best results are behind the company,” analyst Keith Weiss wrote. Weiss discussed the software and cloud giant’s growth durability and further margin expansion in the note and pointed out that the company had delivered...

07 June

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British ‘Treasure Island’ tax havens face a tempest By Reuters

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By Guy Faulconbridge LONDON (Reuters) - Britain's exotic network of "Treasure Island" tax havens could be facing the biggest threat to its existence in half a century after the United States and its allies pledged to squeeze more tax out of large, profitable multinational companies. The often distant islands of Britain's former empire have served as the premier jurisdiction for everyone from cash-rich Chinese officials to Russian oligarchs to Western firms to hedge funds seeking lower taxes - or complete secrecy. But a tax deal hashed out by Group of Seven finance ministers in a...

07 June

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Global corporate tax crackdown gets ethical investor boost By Reuters

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(Corrects name of Tribe Impact Capital in final paragraph of June 2 story) By Sujata Rao and Simon Jessop LONDON (Reuters) -A global tax crackdown on multinationals has the backing of some of the world's biggest investors who say that using low-tax jurisdictions falls foul of the tenets they have committed to. After years of negotiations over complex arrangements deployed by big companies, G7 finance ministers meeting in Britain on Friday are expected to declare their support for a global accord to address billions of dollars in lost tax revenue. [L2N2NI198] This push is backed...

07 June

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Anti-poverty groups criticise rich countries over G7 tax deal By Reuters

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By John O'Donnell FRANKFURT (Reuters) - Anti-poverty campaigners on Monday criticised a deal reached by seven wealthy countries to impose a minimum tax on multinational companies, saying it would benefit rich nations at the expense of the poor. Finance Ministers from the Group of Seven advanced economies agreed on Saturday to back the creation of a global minimum corporate tax rate of at least 15%, aiming to squeeze more money out of multinationals such as Amazon (NASDAQ:AMZN) and Google and reduce their incentive to shift profits to low-tax offshore havens. Oxfam and Eurodad, a network...

07 June

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DKNY Owner G-III Jumps On Reporting Profit By Investing.com

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By Dhirendra Tripathi Investing.com – G-III Apparel (NASDAQ:GIII) shares rose nearly 12% Monday as the company returned to profitability and gave a guidance for the full year after skipping it last time. The company rode the trend of people opting for casual clothing for work-from-home lifestyles and swung back to a net income of $26.3 million, or 53 cents per diluted share in the first quarter ended April 30. It had a net loss of $39.3 million, or 82 cents per share in the prior year’s quarter. “With each passing week, sales for broader lifestyle...

07 June

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U.S. FDA approves Biogen Alzheimer’s drug By Reuters

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By Deena Beasley (Reuters) -U.S. regulators on Monday approved Biogen Inc (NASDAQ:BIIB)'s aducanumab as the first treatment to address an underlying cause of Alzheimer's disease despite controversy over mixed clinical trial results for the drug. Aducanumab aims to remove sticky deposits of a protein called amyloid beta from the brains of patients in earlier stages of Alzheimer's in order to stave off its ravages, which include memory loss and the ability to care for one's self. The Food and Drug Administration said that the clinical trials for the treatment, to be sold under the brand name...

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S&P 500 Struggles for Direction; AMC Puts Squeeze on Short-Sellers Again By Investing.com

Apple adds privacy protections for users, enables storage of IDs on iPhones By Reuters

Timeline: The long road to approval of controversial Alzheimer’s treatment from Biogen By Reuters

Global banking regulator in step closer to crypto capital rules By Reuters

Microsoft Gains As Morgan Stanley Reiterates Bullish Outlook By Investing.com

British ‘Treasure Island’ tax havens face a tempest By Reuters

Global corporate tax crackdown gets ethical investor boost By Reuters

Anti-poverty groups criticise rich countries over G7 tax deal By Reuters

DKNY Owner G-III Jumps On Reporting Profit By Investing.com

U.S. FDA approves Biogen Alzheimer’s drug By Reuters

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