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British pound gains boost from BoE, dollar looks to inflation data By Reuters

By Hideyuki Sano TOKYO (Reuters) - The British pound held firm near a three-month high against the dollar on Friday on rising expectations of an earlier than expected rate hike by the Bank of England, while the U.S. currency looks to upcoming inflation data. The British pound held firm at $1.4203 after a gain of 0.58% on Thursday after a Bank of England policymaker said the central bank was likely to raise rates well into next year. Gertjan Vlieghe also noted an increase could come earlier if the economy rebounds more quickly than expected. Against the...

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Autodesk Earnings, Revenue beat in Q1 By Investing.com

Autodesk (NASDAQ:ADSK) reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that topped expectations. Autodesk announced earnings per share of $1.03 on revenue of $989.3M (NYSE:MMM). Analysts polled by Investing.com anticipated EPS of $0.9419 on revenue of $965.03M. Autodesk shares are down 6% from the beginning of the year and are trading at $286.95 , down-from-52-week-high.They are under-performing the Nasdaq which is up 6.58% from the start of the year. Autodesk follows other major Technology sector earnings this month Autodesk's report follows an earnings beat by Apple on April...

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Exclusive – Hyundai to slash combustion engine line-up, invest in EVs – sources By Reuters

By Gilles Guillaume and Heekyong Yang PARIS/SEOUL (Reuters) - Hyundai Motor Group will slash the number of combustion engine models in its line-up to free up resources to invest in electric vehicles (EVs), two people close to the South Korean automaker told Reuters. The move will result in a 50% reduction in models powered by fossil fuels, one of the people said, adding the strategy was approved by top management in March. "It is an important business move, which first and foremost allows the release of R&D resources to focus on the rest: electric motors,...

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Jailed HK media tycoon Jimmy Lai faces new sentence over illegal assembly By Reuters

By Jessie Pang HONG KONG (Reuters) - Jailed Hong Kong media tycoon and Beijing critic Jimmy Lai is expected to receive a new prison sentence over his role in an unauthorised assembly on Oct. 1, 2019, during one of the city's pro-democracy rallies that year. This month, Lai, who is serving a 14-month sentence for participating in similar demonstrations on Aug. 18 and Aug. 31, 2019, and nine other activists, pleaded guilty in District Court to organising an unauthorised assembly. He has been in jail since December after being denied bail in a separate national security...

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Ulta Beauty Earnings, Revenue beat in Q1 By Investing.com

Ulta Beauty (NASDAQ:ULTA) reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that topped expectations. Ulta Beauty announced earnings per share of $4.07 on revenue of $1.94B. Analysts polled by Investing.com anticipated EPS of $1.93 on revenue of $1.64B. Ulta Beauty shares are up 14.42% from the beginning of the year and are trading at $343.71 , down-from-52-week-high.They are outperforming the S&P 500 which is up 11.84% from the start of the year. Ulta Beauty shares gained 4.60% in after-hours trade the report. Ulta Beauty follows other major Services sector earnings...

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Bill Gates and Melinda French Gates explore changes to charitable foundation – WSJ By Reuters

(Reuters) - Bill Gates and Melinda French Gates are discussing changes to the structure of their foundation to add more governance and independence, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The co-founders of one of the world's largest private charitable foundations, filed for divorce earlier this month after 27 years of marriage but pledged to continue their philanthropic work together. The billionaire benefactors are discussing adding a board and bringing in outside directors, according to the report. (https://on.wsj.com/3hYeiRx) Melinda French Gates has pushed for governance changes in the wake...

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Senate Nears Passage of Bill to Confront China’s Economic Rise By Bloomberg

(Bloomberg) -- The Senate moved toward passage Thursday of an expansive bill to bolster U.S. economic competitiveness and confront China’s rise, debating some last amendments before a final vote. The legislation cleared an initial procedural vote after a deal was struck between Senate Majority Leader Chuck Schumer and Republicans on considering some additions to the bill. That cleared the way for the Senate to meet Schumer’s goal of passing the legislation before senators left Washington for a scheduled week-long break. The bill, which has bipartisan support in the Senate, would plow more than $100 billion...

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UK’s Raab welcomes ICAO probe into Belarus’ forced landing of Ryanair flight By Reuters

(Reuters) - British Foreign Minister Dominic Raab said on Thursday that the UK welcomed the International Civil Aviation Organization (ICAO) investigation into the Belarusian President Alexander Lukashenko regime's forced landing of a Ryanair flight on May 23. "We join our international partners in wanting to know the full circumstances that led up to this grave violation of international law and the attack on the principles that underpin civil aviation," Raab said in a statement. ...

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Ulta Beauty Results Beat in Q1; Raises Guidance on Reopening Optimism By Investing.com

By Yasin Ebrahim Ulta Beauty (NASDAQ:ULTA) reported on Thursday first quarter results that topped analysts' forecasts and the beauty retailer raised its full-year forecast as the reopening is expected to boost the recovery in demand. Ulta Beauty shares gained 5% in after-hours trade following the report. For the full-year 2021 comparable sales are forecast at between 23% to 25%, up from the previous guidance range of 15% to 17%; and EPS in a range of $11.50 to $11.95, up from prior estimate of $8.85 to $9.30. Revenue was expected to be between $7.7B to $7.8B. Ulta...

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Swiss bank Julius Baer to pay $79.7 million in FIFA corruption settlement By Reuters

By Jonathan Stempel NEW YORK (Reuters) -The Swiss bank Julius Baer has agreed to pay $79.7 million in a settlement with the U.S. Department of Justice after being implicated in a sprawling corruption probe surrounding FIFA, the world's soccer governing body. Julius Baer entered a three-year deferred prosecution agreement to resolve accusations it engaged in a money laundering conspiracy. It will pay a $43.3 million criminal fine and a $36.4 million forfeiture, and not face further punishment if it complies with the agreement's terms. The agreement was accepted by U.S. District Judge Pamela Chen in Brooklyn,...

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