14 May

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Portugal leaves UK tourists on tenterhooks over travel By Reuters

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LISBON (Reuters) - British holidaymakers are on tenterhooks as Portuguese authorities have yet to decide whether the country will allow them to visit from next week even after Britain's government cleared them to go, prompting a surge in bookings. Britain added Portugal to a "green" list of foreign destinations a week ago, allowing Britons to travel there from May 17 without needing to quarantine when returning home. But Portugal has not made clear whether UK tourists will indeed be allowed to enter and under what conditions. Current European Union rules prohibit non-essential travel from...

14 May

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Gasoline Pinch May Grind On for Week or More Amid Truck Shortage By Bloomberg

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(Bloomberg) -- Fuel shortages plaguing parts of the U.S. East and South probably will drag on for a week or more because there aren’t enough tanker trucks to haul supplies to filling stations, according to one of North America’s biggest distributors. Now that Colonial Pipeline Co. has resumed deliveries that were halted for days by a criminal hack, the industry is facing a new challenge: a scarcity of trucks and drivers needed to ferry gasoline and diesel from distribution hubs to retail outlets, said Andy Milton, senior vice president of supply at Mansfield Energy Corp....

14 May

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Japan PM advisers urge minimum wage hikes, stick to fiscal reform By Reuters

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By Tetsushi Kajimoto TOKYO (Reuters) - The private-sector advisers to Japanese Prime Minister Yoshihide Suga on Friday called for raising minimum wages this fiscal year to stimulate private consumption as the world's third-largest economy struggles to contain a prolonged coronavirus pandemic. The four advisers at the Council for Economic and Fiscal Policy called on the government to stick to its budget-balancing target as massive coronavirus-related spending has strained the industrial world's heaviest public debt burden. The proposals, which were made at the council's gathering, could be reflected in government's mid-year policy guidelines, which will provide the...

14 May

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UK fraud watchdog investigates Gupta’s GFG Alliance By Reuters

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By Huw Jones LONDON (Reuters) -Britain's Serious Fraud Office (SFO) is investigating suspected fraud, fraudulent trading and money laundering at steel magnate Sanjeev Gupta's GFG Alliance conglomerate, including its financing arrangements with collapsed Greensill Capital, it said on Friday. The anti-graft agency said it was probing "the financing and conduct of the business of companies within the Gupta Family Group Alliance (GFG), including its financing arrangements with Greensill Capital UK Ltd," the SFO said in a statement. It said it had no further comment given it was a live investigation. GFG Alliance said it will...

14 May

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Fincantieri declined to comment about interest in Thyssenkrupp Marine System By Reuters

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MILANO (Reuters) - Fincantieri General Manager Fabio Gallia declined to comment on Friday about rumours on an interest in acquiring Thyssenkrupp (DE:TKAG) Marine System (TKMS) in partnership with German defence company Rheinmethall. "We'll see, no comment on that", Gallia said during a conference call with analysts, asked about the rumours. Rheinmetall could be a minority partner in an alliance with Fincantieri to buy TKMS, Il Sole 24 Ore reported last month. ...

14 May

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Amazon to create 10,000 jobs in Britain this year By Reuters

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LONDON (Reuters) -Amazon will create 10,000 new permanent jobs in the United Kingdom in 2021, taking its total workforce in the country to more than 55,000, it said on Friday. The announcement provides a welcome boost to Britain's precarious labour market, with unemployment running at almost 5%. Amazon (NASDAQ:AMZN) said the new jobs will include roles across its operations network, at its corporate offices and Amazon Web Services (AWS). The group plans to open a new fulfilment centre in Hinckley, central England, creating 700 jobs. It will also open a parcel centre in Doncaster, northern...

14 May

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Software group Sage ups revenue guidance as customers invest in tech By Reuters

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By Paul Sandle LONDON (Reuters) -British software company Sage reported a better than expected 4.4% rise in organic recurring revenue in the six months to end-March and said it now expected growth for the year to be towards the top end of its 3% to 5% range. The company, which provides software to small and medium sized businesses, is increasing investment in subscription products based in the cloud, squeezing margins in the current year by 3 percentage points. Chief Executive Steve Hare said recurring revenue for Sage Business Cloud increased 18% year-on-year. "The second quarter was...

14 May

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Chile Keeps Record-Low Rate as Recovery and Inflation Revive By Bloomberg

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(Bloomberg) -- Chile’s central bank held its benchmark interest rate at a record low as the nation slowly beats back its worst coronavirus surge to date. The bank’s board, led by its President Mario Marcel, voted unanimously to keep the overnight rate at 0.5% on Thursday. The decision was expected by all economists surveyed by Bloomberg. Policy makers didn’t change any non-conventional measures to support liquidity. “The convergence of inflation to the target within the monetary policy horizon continues to require highly expansive stimulus,” the bank said in a note accompanying today’s decision. “The key rate...

14 May

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Irish health service hit by ransomware attack, vaccine rollout unaffected By Reuters

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DUBLIN (Reuters) -Ireland's health service operator shut down all its IT systems on Friday to protect it from what it described as a significant ransomware attack but said its coronavirus vaccination programme was unaffected. The head of the Health Service Executive (HSE) said it took the step as a precaution to protect as much information as possible and that it was assessing how the attack would affect other services. One maternity hospital in Dublin cancelled all outpatient appointments on Friday other than those for women 36 weeks pregnant or in need of urgent care. "It's a...

14 May

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Investors sell tech, move into inflation protection – BofA By Reuters

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LONDON (Reuters) - Investors have taken money out of tech equity funds and loaded up on inflation protection amid fears the Federal Reserve might alter its ultra accommodative monetary policy as inflation picks up, BofA's weekly fund flow statistics showed on Friday. The week to May 12 saw the largest flows towards Treasury Inflation-Protected Securities funds in 23 weeks with an inflow of $1.9 billion, BofA said, citing EPFR data. At the same time, tech equity funds saw their first outflow in five weeks. Typically, the premium investors are willing to pay for so-called...

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News

Portugal leaves UK tourists on tenterhooks over travel By Reuters

Gasoline Pinch May Grind On for Week or More Amid Truck Shortage By Bloomberg

Japan PM advisers urge minimum wage hikes, stick to fiscal reform By Reuters

UK fraud watchdog investigates Gupta’s GFG Alliance By Reuters

Fincantieri declined to comment about interest in Thyssenkrupp Marine System By Reuters

Amazon to create 10,000 jobs in Britain this year By Reuters

Software group Sage ups revenue guidance as customers invest in tech By Reuters

Chile Keeps Record-Low Rate as Recovery and Inflation Revive By Bloomberg

Irish health service hit by ransomware attack, vaccine rollout unaffected By Reuters

Investors sell tech, move into inflation protection – BofA By Reuters

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