10 May

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Airbus puts supply chain executive at helm of loss-making A220 By Reuters

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By Tim Hepher PARIS (Reuters) - Airbus has appointed a senior internal supply chain executive to run its Canadian operation, with responsibility for trimming losses on the A220 jetliner series, in the latest in a series of management changes at the European aerospace group. Benoit Schultz, 48, will take over on Sept. 1 from Philippe Balducchi, a former finance executive who became the first head of the Canadian venture when Airbus bought the CSeries jet programme from Bombardier in 2018 and renamed it A220. Schultz, who was part of the team that ran a ruler...

10 May

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U.S. state AGs urge Facebook to cancel plans for Instagram for younger kids By Reuters

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By David Shepardson WASHINGTON (Reuters) - A group of 40 state attorneys general on Monday urged Facebook (NASDAQ:FB) Chief Executive Mark Zuckerberg to abandon plans to launch a version of Instagram for children under the age of 13. "Use of social media can be detrimental to the health and well-being of children, who are not equipped to navigate the challenges of having a social media account," the officials said in a letter. "Further, Facebook has historically failed to protect the welfare of children on its platforms," they said. The letter also signed by the attorneys general...

10 May

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Evans Says Progress on Fed’s Goals Will Take ‘Quite Some Time’ By Bloomberg

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(Bloomberg) -- It will probably take “quite some time” for Federal Reserve officials to conclude the economy has made substantial progress following Friday’s disappointing jobs report, Chicago Fed President Charles Evans said. “I think we are going to have to see more strong employment numbers, and we’re going to have to see inflation,” Evans said Monday in a television interview on CNBC. “And it will be delicate. We’ll see transitory inflation that’s going to look like it’s -- it is above 2%. Is it going to be relative prices, or is it something more sustainable?”...

10 May

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Archegos prompts review of derivatives rules, says global regulator By Reuters

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LONDON (Reuters) - The meltdown at Archegos Capital that triggered big losses at several banks highlighted the need to review rules on posting margin or cash against derivatives transactions, the head of a global markets regulator said on Monday. Ashley Alder, chairman of IOSCO, which groups regulators from the world's main financial markets, said the Archegos "saga" also showed that trade repositories, which record derivatives transactions, must be faster at pointing to "red flags" in markets. ...

10 May

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FTSE 100 finishes flat, airlines lower, GBP rallies, Ethereum above $4,000 By Investing.com

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Key Points FTSE 100 closing price of 7125.10, -0.06% Airlines weigh after UK travel announcement GBP rallies as SNP fails to gain majority Oil falls despite Colonial pipeline cyber attack Metals prices continue to jump Ethereum breaches $4,000 for the first time By Samuel Indyk Investing.com – The FTSE 100 finished broadly unchanged Monday as a strong GBP and a fall in airlines was counteracted by a rally in mining stocks. GBP rallied throughout the day ahead of a press conference at 17:00BST where the UK Prime Minister Boris Johnson is expected to...

10 May

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UK government set to sell NatWest shares – Sky News By Reuters

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LONDON (Reuters) - The British government is preparing to sell a stake in NatWest Group in the coming days, Sky News reported on Monday, sending shares down in the state-backed lender. The government is likely to sell just over 1 billion pounds ($1.41 billion) of stock, amounting to around a 5% stake, Sky reported citing a fund manager. Shares in NatWest fell 2% on the report, after previously being up around 2% on the day. NatWest is 60% state-owned following a 45 billion pound bailout in the 2007-09 financial crisis. The government's last sale of stock...

10 May

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Europe dares to reopen as 200 millionth vaccine dose delivered By Reuters

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By Michael Gore and Estelle Shirbon MADRID/LONDON (Reuters) - As its vaccination drive reaches a third of adults and COVID-19 infections ease, Europe is starting to reopen cities and beaches, raising hopes that this summer's holiday season can be saved before it is too late. Exhilarated Spaniards chanting "freedom" danced in the streets as a COVID-19 curfew ended in most of the country at the weekend, while Greece reopened public beaches - with deckchairs safely spaced. With 200 million vaccine doses delivered, the European Union is on track to achieve its goal of inoculating 70%...

10 May

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AstraZeneca finally reaches vaccine shipping milestone to EU that was due in January By Reuters

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By Francesco Guarascio BRUSSELS (Reuters) - AstraZeneca (NASDAQ:AZN) Plc has delivered 50 million doses of its COVID-19 vaccine to European Union countries, according to EU's latest supply data, a milestone it was originally due to hit in January. Repeated cuts to supplies, which contributed to delays in the EU's vaccination drive, pushed the European executive commission to sue the Anglo-Swedish drugmaker in late April in a bid to get more doses by mid-year. AstraZeneca had shipped nearly 50 million doses as of May 7, an EU official told Reuters on Monday, citing the latest EU internal...

10 May

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EU Recovery Fund success could the pave way for a repeat -EU Commission By Reuters

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By Jan Strupczewski BRUSSELS (Reuters) - The European Union's huge post-pandemic recovery fund could become a more permanent feature if it is successful in firing up growth and fostering a greener and more digital economy, the European Commission's top economic officials said on Monday. The 27 EU nations made an unprecedented agreement last year to jointly borrow 750 billion euros for a fund to help fight the economic slump caused by COVID-19 and address the challenges of climate change. To overcome the opposition of the EU's frugal northern states, which have long opposed joint...

10 May

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Polish FX mortgage holders, banks face crunch Supreme Court ruling By Reuters

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By Alan Charlish and Pawel Florkiewicz WARSAW (Reuters) - When Polish IT specialist Przemyslaw Rowinski's wife died in 2013, he was left alone in the central Warsaw flat which they bought together in 2005 with a mortgage in Swiss francs whose repayments soon shot up. In 2015, the franc - already appreciating against the zloty - skyrocketed as the Swiss central bank removed a currency cap. "I was left alone with this mortgage," Rowinski told Reuters in the 10th-floor flat overlooking the capital's old town. "The removal of the cap on the franc --...

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News

Airbus puts supply chain executive at helm of loss-making A220 By Reuters

U.S. state AGs urge Facebook to cancel plans for Instagram for younger kids By Reuters

Evans Says Progress on Fed’s Goals Will Take ‘Quite Some Time’ By Bloomberg

Archegos prompts review of derivatives rules, says global regulator By Reuters

FTSE 100 finishes flat, airlines lower, GBP rallies, Ethereum above $4,000 By Investing.com

UK government set to sell NatWest shares – Sky News By Reuters

Europe dares to reopen as 200 millionth vaccine dose delivered By Reuters

AstraZeneca finally reaches vaccine shipping milestone to EU that was due in January By Reuters

EU Recovery Fund success could the pave way for a repeat -EU Commission By Reuters

Polish FX mortgage holders, banks face crunch Supreme Court ruling By Reuters

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