03 June

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U.S. Treasury says G7 expected to endorse U.S. global minimum tax proposal By Reuters

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WASHINGTON (Reuters) - Finance ministers from the G7 wealthy democracies are expected to endorse Washington's proposal for an ambitious global corporate minimum tax when they meet in London later this week, a U.S. Treasury official said on Wednesday. The official said in an emailed statement the Treasury expects the G7 meetings on Friday and Saturday to provide momentum for advancing global corporate tax negotiations towards a broader G20 finance meeting in July in Italy. The U.S. Treasury in May proposed a global minimum corporate minimum tax of at least 15% to try to end a downward...

03 June

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S&P 500 Flat as Materials Slip; AMC Rockets on Meme Mania By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 struggled for direction Wednesday, as energy continued to rack up gains, but a stumble in materials and consumer stocks kept gains in check ahead of the jobs numbers due later this week. The S&P 500 fell 0.03%, the Dow Jones Industrial Average was down 0.01%, or 3 points, and the Nasdaq Composite slipped 0.11%. Energy jumped nearly 2%, underpinned by rising oil prices as investors bet on increasing demand over the summer offsetting major oil producer plans to gradually lift production. Sentiment on oil prices has also...

03 June

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Factbox-Global big banks plot back-to-office plans as vaccines roll out By Reuters

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(Reuters) -The biggest banks in the world plan to re-open their offices, emboldened by aggressive vaccination drives and falling COVID-19 cases in major financial hubs, after sending most employees home early last year to help stem the spread of the coronavirus. Banks globally are adopting different methods to ensure a successful back to office plan including hybrid working models and vaccination drives. Here is the state of play with back-to-office plans in various regions: UNITED STATES Wells Fargo (NYSE:WFC) & Co The bank said in March it plans to start bringing workers back...

03 June

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Analysis: China seeks to milk the milk market but doesn’t have enough cows By Reuters

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By Dominique Patton BEIJING (Reuters) - China has come to crave milk. Demand that had been steadily growing has spiked further after doctors touted its health benefits amid the coronavirus pandemic and dairy firms across the country have embarked on a farm-building frenzy. But quenching that thirst will be problematic, not least because finding the millions more cows needed for planned new and expanded farms will be challenging. China is the world's third-largest milk producer, but last year's 34 million tonnes of output only met about 70% of domestic needs. Complicating matters are feed costs...

03 June

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Exclusive: UK’s Sunak says U.S. plan to break global tax deadlock could work By Reuters

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By William Schomberg LONDON (Reuters) - British finance minister Rishi Sunak said a U.S. proposal to focus on the world's 100 biggest and most profitable firms as part of a global tax deal could work but he insisted that big tech firms must pay more tax in countries where they operate. Sunak told Reuters that the Group of Seven was making "really good progress" on the long-disputed reform before finance ministers from the group of rich economies fly to London for talks on Friday and Saturday. The meeting will be their first face-to-face encounter since...

03 June

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Stay-Home Earnings, Broadcom Reports, Private Payrolls: 3 Things to Watch By Investing.com

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Investing.com -- Stocks struggled for direction on Wednesday ahead of some key data releases that will give a clearer reading of employment and inflation trends in May. Oil prices are back to their 2018 levels, with Brent Oil Futures trading above $70 a gallon. Sentiment on oil prices has also been supported by growing expectations that additional Iranian supply to the market will be delayed because of talks over a nuclear deal. President Joe Biden announced an array of incentives to get those who aren’t yet vaccinated to get their shots, as more states offer lottery drawings...

03 June

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NetApp Delivers Upbeat Guidance After Results Beat in Q4 By Investing.com

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By Yasin Ebrahim NetApp (NASDAQ:NTAP) reported Wednesday fourth-quarter results that beat analysts' forecasts as demand for cloud services continued. NetApp announced earnings per share of $1.17 on revenue of $1.56B. Analysts polled by Investing.com anticipated EPS of $1.12 on revenue of $1.5B. "We are gaining share in key storage markets and our public cloud services are at a scale where they are positively impacting total company billings and revenue growth,” the company said. Looking ahead to its fiscal first-quarter results, the company guided adjusted EPS in the range of $0.89 to $0.97 on revenue...

03 June

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NetApp Earnings, Revenue beat in Q4 By Investing.com

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NetApp reported on Wednesday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations. NetApp announced earnings per share of $1.17 on revenue of $1.56B. Analysts polled by Investing.com anticipated EPS of $1.12 on revenue of $1.5B. NetApp shares are up 16% from the beginning of the year and are trading at $76.99 , down-from-52-week-high.They are outperforming the S&P 500 which is up 12.04% from the start of the year. NetApp follows other major Technology sector earnings this month NetApp's report follows an earnings beat by NVIDIA on May 26,...

03 June

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FTSE 100 above 7,100, oil gains on demand optimism, Doge rallies By Investing.com

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Key Points FTSE 100 closing price of 7,109.4, +0.41% BP and Shell lead FTSE higher Meme stocks in focus WTI and Brent gain on demand hopes FX markets quiet Doge rallies on Coinbase Pro introduction By Samuel Indyk Investing.com – The FTSE 100 finished with slight gains on Wednesday, supported by an increase in large-cap energy names as oil benchmarks posted gains. On Tuesday, the OPEC+ group gave a positive assessment of oil market dynamics, continuing with their plan to ease production cuts in July, suggesting a unanimous view that demand is to pick...

03 June

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Germany backs central banks’ view that inflation jump is temporary, Scholz says By Reuters

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By Michael Nienaber BERLIN (Reuters) - Germany is monitoring a recent rise in inflation closely but the government shares the assessment of central banks that the jump in consumer prices is largely driven by temporary factors, Finance Minister Olaf Scholz told Reuters on Wednesday. Asked if the jump in inflation and the European Central Bank's ultra-loose monetary policy could become a problem for Germany, Scholz said: "We're always looking closely at this. But so far, there is much to suggest that the assessment of the central banks is correct." "We can now also hope for a...

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U.S. Treasury says G7 expected to endorse U.S. global minimum tax proposal By Reuters

S&P 500 Flat as Materials Slip; AMC Rockets on Meme Mania By Investing.com

Factbox-Global big banks plot back-to-office plans as vaccines roll out By Reuters

Analysis: China seeks to milk the milk market but doesn’t have enough cows By Reuters

Exclusive: UK’s Sunak says U.S. plan to break global tax deadlock could work By Reuters

Stay-Home Earnings, Broadcom Reports, Private Payrolls: 3 Things to Watch By Investing.com

NetApp Delivers Upbeat Guidance After Results Beat in Q4 By Investing.com

NetApp Earnings, Revenue beat in Q4 By Investing.com

FTSE 100 above 7,100, oil gains on demand optimism, Doge rallies By Investing.com

Germany backs central banks’ view that inflation jump is temporary, Scholz says By Reuters

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