28 May

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Analysis-Big oil may get more climate lawsuits after Shell ruling – lawyers, activists By Reuters

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By Shadia Nasralla and Tom Hals LONDON (Reuters) - A Dutch court's decision to force Royal Dutch Shell (LON:RDSa) to make deeper, faster cuts to its climate warming emissions on the basis of human rights could set a precedent, especially in European countries, according to lawyers and activists. The court on Wednesday ordered the Anglo-Dutch company to slash its global greenhouse gas emissions, which stood at around 1.6 billion tonnes of CO2 equivalent in 2019, by 45% by 2030. Shell said it would appeal the decision forcing it to cut by an amount roughly equivalent...

28 May

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HP Falls On Warning Chip Shortage May Hurt Supplies By Investing.com

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By Dhirendra Tripathi Investing – Shares of HP Inc (NYSE:HPQ) fell by more than 6% in Friday’s premarket as the company’s warning that the semiconductor chip shortage would limit its ability to supply personal computing devices and printers at least until the end of the year overshadowed its robust quarterly earnings. Notwithstanding shortage of raw materials that go into devices, the maker of desktops, laptops, printers and other IT peripherals retains a bullish outlook about the overall demand. But the company’s caution only added to what many have been fearing and that is that...

28 May

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Airline body sees Big Oil backlash as catalyst for green fuels By Reuters

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By Laurence Frost and Sarah Young PARIS/LONDON (Reuters) - The increasingly effective green backlash against oil majors by activists and shareholders is a welcome development for the aviation industry as it prepares to raise its own environmental goals, the head of global airline body IATA said on Friday. Willie Walsh, director general of the International Air Transport Association, said that challenges of the kind encountered by Exxon, Chevron (NYSE:CVX) and Shell (LON:RDSa) this week could boost investment in the lower-emission fuels so desperately needed by airlines. "I think it's great that the oil industry...

28 May

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Euro zone sentiment hits three-year high, inflation expectations jump By Reuters

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BRUSSELS (Reuters) - Economic sentiment improved by more than expected to a three-year high in May, data showed on Friday, with the strongest gains in services, retail and among consumers as governments eased pandemic restrictions. The European Commission's economic sentiment index rose to 114.5 points in May from 110.5 in April, beating expectations in a Reuters poll of an improvement to 112.1. It was the highest level of the index since January 2018. Optimism in services, which make up two thirds of the euro zone economy, rose the most to 11.3 points from 2.2, far above...

28 May

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HSBC says U.S. remains vital market despite retail exit By Reuters

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By Lawrence White LONDON (Reuters) -HSBC said on Friday the United States remains key to its growth plans, a day after announcing the sale of its mass market retail U.S. banking business in a country where it has long struggled to make a strong profit. HSBC's business in the United States will focus on internationally-oriented corporate customers, chief executive Noel Quinn told the lender's annual shareholder meeting in London. "The U.S. is key to our international network and an important contributor to our growth plans," Quinn said. HSBC announced on Thursday its long-awaited U.S. retail...

28 May

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Funds recommended cutting equity exposure in May to lowest level this year By Reuters

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By Tushar Goenka BENGALURU (Reuters) - Funds recommended the lowest equity exposure this year in May, citing risks from the expected pull-and-push between reflation trades and dovish central banks, but most respondents in Reuters polls said a near-term correction in stock markets was unlikely. While global shares have see-sawed in May, with technology-related stocks taking a hit, the MSCI world equity index breached an all-time high and European bourses were near record highs, helped by policymakers allaying inflation concerns. Still, Reuters polls of 35 fund managers and chief investment officers in the United States, Europe and...

28 May

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Salesforce, Ulta Beauty Rise Premarket; HP Falls By Investing.com

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By Peter Nurse Investing.com -- Stocks in focus in premarket trade on Friday, May 28th. Please refresh for updates. Salesforce (NYSE:CRM) stock rose 5.2% after the software company raised its full-year forecasts, following increased demand for its cloud-based software due to a pandemic-led shift to remote work. HP (NYSE:HPQ) stock fell 6.1% after the computer giant warned the ongoing computer chip shortage could impact its ability to meet demand for laptops this year, even as it reported better-than-expected second-quarter results. Johnson & Johnson (NYSE:JNJ) stock rose 0.6% after ...

28 May

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IATA chief pours cold water on Airbus jet output increase By Reuters

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PARIS/LONDON (Reuters) - The most senior representative of global airlines on Friday cast doubt on plans by Europe's Airbus for sharp increases in jetliner production, saying they appeared overly optimistic. Willie Walsh, director general of the International Air Transport Association, voiced scepticism a day after Airbus published proposals to almost double single-aisle production to as high as 75 jets a month by 2025. "Let's wait and see, because obviously there is a huge disconnect between what the manufacturers say they're going to produce and what the airlines decide to buy," Walsh, previously head of British...

28 May

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We’re TotalEnergies: French oil major gets green rebrand By Reuters

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By Sarah White and Benjamin Mallet PARIS (Reuters) -Oil and gas group Total won more than 90% backing for its climate plan to gradually reduce its emissions on Friday, when shareholders also voted overwhelmingly in favour of its rebrand as TotalEnergies to mark its shift to renewable energy. Some shareholders had campaigned to reject Total's green goals as not ambitious enough, echoing growing investor rebellions in the sector. Demands for oil companies to speed up the shift from fossil fuel reached a crescendo this week as a Dutch court ordered Royal Dutch Shell (LON:RDSa) to...

28 May

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BoE’s Haldane sees faint echo of 1970s in inflation spiral risk By Reuters

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By Andy Bruce LONDON (Reuters) -Bank of England Chief Economist Andy Haldane has warned there is a chance that cost pressures faced by British companies lead to high prices that become embedded in pay demands, in an echo of inflationary wage-price spirals of previous decades. Haldane, who leaves the Monetary Policy Committee in June, has previously warned of an inflationary "tiger" prowling as Britain's economy recovers from the COVID-19 pandemic. Earlier this month he cast a lone vote to reduce the scale of the BoE's bond-buying stimulus. "There's again a chance that those price pressures could...

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Analysis-Big oil may get more climate lawsuits after Shell ruling – lawyers, activists By Reuters

HP Falls On Warning Chip Shortage May Hurt Supplies By Investing.com

Airline body sees Big Oil backlash as catalyst for green fuels By Reuters

Euro zone sentiment hits three-year high, inflation expectations jump By Reuters

HSBC says U.S. remains vital market despite retail exit By Reuters

Funds recommended cutting equity exposure in May to lowest level this year By Reuters

Salesforce, Ulta Beauty Rise Premarket; HP Falls By Investing.com

IATA chief pours cold water on Airbus jet output increase By Reuters

We’re TotalEnergies: French oil major gets green rebrand By Reuters

BoE’s Haldane sees faint echo of 1970s in inflation spiral risk By Reuters

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