10 May

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Banks told to ‘hit the accelerator’ in ditching Libor rate By Reuters

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By Huw Jones LONDON (Reuters) - Britain's finance watchdog wants banks to speed up a shift to new interest rate benchmarks that replace the Libor rate which is being scrapped after December. The London Interbank Offered Rate or Libor, once dubbed the world's most important number, will be replaced at the end of December with "risk free" rates compiled by central banks. Banks were fined for trying to rig Libor, and swathes of the market used for compiling Libor has all but dried up. But replacing Libor, used in contracts from home loans to credit cards...

10 May

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At Sony Demand For PlayStation Stays Robust; CFO Warns Of Tight Supply By Investing.com

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By Dhirendra Tripathi Investing.com – Sony (NYSE:SONY) shares were up nearly 2% following comments by a top company official that showed demand for PlayStation 5 stays high, though the supply of the popular video game console may fail to match it. “I don’t think demand is calming down this year and even if we secure a lot more devices and produce many more units of the PlayStation 5 next year, our supply wouldn’t be able to catch up with demand,” the company's chief financial officer Hiroki Totoki said. Totoki...

10 May

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‘Black fungus’ complication adds to India’s COVID woes By Reuters

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By Manas Mishra and Kannaki Deka BENGALURU (Reuters) - The Indian government has told doctors to look out for signs of mucormycosis or "black fungus" in COVID-19 patients as hospitals report a rise in cases of the rare but potentially fatal infection. The state-run Indian Council of Medical Research (ICMR) said at the weekend that doctors treating COVID-19 patients, diabetics and those with compromised immune systems should watch for early symptoms including sinus pain or nasal blockage on one side of the face, one-sided headache, swelling or numbness, toothache and loosening of teeth. The...

10 May

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Coty’s Strong Asia Sales Offset by Weakness in Europe By Investing.com

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By Christiana Sciaudone Investing.com -- Europe's lockdown offset Coty (NYSE:COTY)'s solid results in Asia, dragging the stock down 9%. The beauty products purveyor missed expectations for the fiscal third quarter by a hair as overall sales dropped by 3%, despite 20% growth in Asia and 30% growth in e-commerce. Europe, including the Middle East and Africa, saw revenue drop almost 8% with countries locked down once again in the battle against Covid-19. Shares are up more than 150% since cosmetics veteran and entrepreneur Sue Nabi was named as CEO in July. Sales had been slipping prior...

10 May

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Minke whale calf spotted upstream in London as fears grow for its survival By Reuters

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LONDON (Reuters) - A three-metre injured minke whale calf was spotted swimming upstream in the River Thames on Monday in west London, just hours after rescuers rushed to save the giant mammal's life by refloating it, a Reuters reporter at the scene said. The whale was refloated and towed a mile downstream from Richmond Lock but a Reuters reporter spotted the whale several hours later swimming further inland. ...

10 May

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Dow Futures 105 Pts Higher; Oil Rises on Colonial Pipeline Attack By Investing.com

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By Peter Nurse Investing.com - U.S. stocks are seen opening mixed Monday, while crude prices rise in the wake of a cyber attack on the largest U.S. gasoline pipeline. At 7:05 AM ET (1205 GMT), the Dow Futures contract was up 105 points, or 0.3%, S&P 500 Futures traded 3 points, or 0.1%, higher, but Nasdaq 100 Futures dropped 36 points, or 0.3%. The Dow Jones Industrial Average and S&P 500 closed at record highs Friday, and these indices are expected to open higher Monday as investors seek out value stocks following Friday’s unexpectedly weak April...

10 May

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Rolls-Royce relaunches sale of Norway-based Bergen -source By Reuters

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LONDON (Reuters) - British engineering company Rolls-Royce (LON:RR) has put its Norwegian maritime engine unit Bergen back on the block, less than two months after Norway blocked a previous deal for it to be bought by a Russian company. "The sale process has restarted," a source close to the matter said on Monday. Norway in March stopped Rolls-Royce from selling Bergen for 150 million euros to a company controlled by Russia's TMH Group on national security grounds, in a blow to the British company's disposal programme. Rolls-Royce is aiming to raise 2 billion...

10 May

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Inflation Brews for U.S. Producers While Services Wages Pick Up By Bloomberg

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(Bloomberg) -- Inflation continues to brew in America’s industrial heartland as growing materials shortages cascade into record-long delivery times and leave manufacturers struggling to keep pace with an energized economy. As producers attempt to navigate supply-chain pitfalls for the commodities necessary to produce their wares, wage growth is beginning to percolate. A recent Labor Department report showed the largest quarterly increase in worker pay at companies since 2003. This combination of higher labor and materials costs will probably lead to a bigger pickup in consumer inflation at a time when monetary and fiscal policies are conducive...

10 May

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SocGen targets dealmaking to boost investment bank By Reuters

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PARIS (Reuters) -Societe Generale said on Monday it plans to revamp its corporate and investment banking businesses by shifting resources into dealmaking and reducing its trading arm's exposure to market swings. France's third-largest listed bank said it is looking to boost profitability in the investment banking division and stabilise revenue after its flagship equity derivatives business, long a strength, was hit hard during the COVID-19 pandemic last year. "Global Markets will deliver...

10 May

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Marriott Int Earnings beat, Revenue misses In Q1 By Investing.com

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Marriott Int (NASDAQ:MAR) reported on Monday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations. Marriott Int announced earnings per share of $0.1 on revenue of $2.32B. Analysts polled by Investing.com anticipated EPS of $0.0367 on revenue of $2.38B. Marriott Int shares are up 11% from the beginning of the year and are trading at $146.69 , down-from-52-week-high.They are outperforming the Nasdaq which is up 6.7% from the start of the year. Marriott Int follows other major Services sector earnings this month Marriott Int's report follows an...

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News

Banks told to ‘hit the accelerator’ in ditching Libor rate By Reuters

At Sony Demand For PlayStation Stays Robust; CFO Warns Of Tight Supply By Investing.com

‘Black fungus’ complication adds to India’s COVID woes By Reuters

Coty’s Strong Asia Sales Offset by Weakness in Europe By Investing.com

Minke whale calf spotted upstream in London as fears grow for its survival By Reuters

Dow Futures 105 Pts Higher; Oil Rises on Colonial Pipeline Attack By Investing.com

Rolls-Royce relaunches sale of Norway-based Bergen -source By Reuters

Inflation Brews for U.S. Producers While Services Wages Pick Up By Bloomberg

SocGen targets dealmaking to boost investment bank By Reuters

Marriott Int Earnings beat, Revenue misses In Q1 By Investing.com

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