07 May

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British Airways owner IAG expects travel recovery from July By Reuters

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By Sarah Young LONDON (Reuters) -British Airways owner IAG (LON:ICAG) is confident travel will recover from July onwards after forecasting only a minimal increase in its capacity to 25% for the April to June quarter. IAG, which also owns Iberia and Vueling in Spain and Aer Lingus in Ireland, declined to forecast how much it would fly from July but said the recovery would be properly underway by then after more than a year of pandemic restrictions. "We consider in the second half that we are going to be flying and we are prepared for...

07 May

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Holiday Inn owner sees busy U.S. summer as demand returns By Reuters

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By Muvija M (Reuters) -Holiday Inn owner IHG said on Friday demand was coming back strongly and forecast a busy U.S. summer season as travellers take advantage of an easing of coronavirus lockdowns. COVID-19 vaccinations and the relaxing of restrictions in regions including the United States, IHG's biggest market, have offered respite after a painful 2020, as has a trend to holiday closer to home in some of the company's largest locations. "There is clear evidence from forward-bookings data of further improvement as we look to the months ahead," Chief Executive Keith Barr said....

07 May

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FTSE 100 sees best week since April on recovery hopes; M&A chatter boosts Meggitt By Reuters

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By Devik Jain (Reuters) - London's FTSE 100 rose on Friday and was on track for its best week in a month, as hopes of a stronger economic recovery boosted commodity and industrial stocks, while Meggitt (LON:MGGT) shares soared on a takeover report. The blue-chip index rose 0.3%, with Melrose Industries adding 2.6% after Morgan Stanley (NYSE:MS) raised its price target on the engineer's shares. Oil majors BP (LON:BP) and Royal Dutch Shell (LON:RDSa) gained 0.7% and 1.3%, respectively, while miners jumped tracking crude and metal prices. [O/R][MET/L] Globally, investor...

07 May

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Adidas shrugs off China boycott call to raise outlook By Reuters

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By Emma Thomasson BERLIN (Reuters) -German sportswear company Adidas (DE:ADSGN) sees only a short-term impact from Chinese calls in March for a boycott of its products, raising its 2021 sales forecast on Friday as it expects a resumption of big sporting events to drive demand. Adidas now sees sales growing at a high-teens percentage rate in 2021, compared with a March forecast for mid-to-high teens growth, with a jump of around 50% expected in the second quarter. It said the acceleration would be driven by new products such as Ultraboost running shoes that are designed to...

07 May

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BMW confirms 2021 outlook, but sees volatility ahead By Reuters

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By Nick Carey LONDON (Reuters) - BMW remains on course to meet its profit targets for 2021 despite rising raw material costs, the German carmaker said on Friday, having largely steered clear of the semiconductor chip shortage battering rivals like Volkswagen (DE:VOWG_p). Volkswagen boss Herbert Diess had said on Thursday that Europe's top carmaker was in "crisis mode" over the chip shortage, which would hit profits in the second quarter, while Ford Motor (NYSE:F) Co last week said the lack of chips could halve its second-quarter vehicle production. BMW is known for its strong relations...

07 May

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Soccer-Newcastle’s Ashley says ‘dark forces’ preventing them from being powerhouse By Reuters

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(Reuters) - Newcastle United owner Mike Ashley said it is time for the "dark forces" preventing the Tyneside club from becoming a powerhouse to step aside, after initiating legal proceedings against the Premier League, British media reported. It is the second legal action that British businessman Ashley has initiated against the league over an aborted takeover attempt by a Saudi Arabian-backed consortium last year. The proposed 300 million pound ($420 million) takeover collapsed in July 2020. Premier League Chief Executive Richard Masters said the bid failed after the consortium declined an offer of independent...

07 May

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Japan shares higher at close of trade; Nikkei 225 up 0.09% By Investing.com

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Investing.com – Japan equities were higher at the close on Friday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors propelled shares higher. At the close in Tokyo, the Nikkei 225 added 0.09%. The biggest gainers of the session on the Nikkei 225 were DOWA Holdings Co., Ltd. (T:5714), which rose 5.21% or 245.0 points to trade at 4945.0 at the close. Toho Zinc Co., Ltd. (T:5707) added 5.11% or 120.0 points to end at 2469.0 and Pacific Metals Co., Ltd. (T:5541) was up 4.75%...

07 May

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British Airways-owner IAG cautious on Q2 capacity By Reuters

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LONDON (Reuters) - British Airways-owner IAG (LON:ICAG) forecast only a minimal pick-up in capacity to 25% for the April to June quarter, remaining cautious despite hopes that European travel will start to recover from late May onwards. The rise to 25% of 2019's capacity compared to the 19.6% of capacity that it flew in the January to March quarter as the pandemic continued to restrict travel. That resulted in the group posting an operating loss before exceptional items of 1.14 billion euros for its first quarter period to the end of March, slightly better than...

07 May

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Activist Sherborne sells Barclays stake By Reuters

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FRANKFURT (Reuters) - Sherborne Investors has sold its 6% stake in Barclays (LON:BARC), the company said on Friday. Sherborne, an activist investor, had been invested in the bank since March 2018. ...

07 May

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IHG says bookings signal further pick-up on summer demand By Reuters

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(Reuters) - Holiday Inn owner InterContinental Hotels said on Friday demand was picking up ahead of the U.S. summer season, with pandemic-driven trends such as staycation and the easing of curbs propping up an industry rampaged by the COVID-19 crisis. "While the risk of volatility remains for the balance of the year, there is clear evidence from forward-bookings data of further improvement as we look to the months ahead," Chief Executive Keith Barr said. ...

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News

British Airways owner IAG expects travel recovery from July By Reuters

Holiday Inn owner sees busy U.S. summer as demand returns By Reuters

FTSE 100 sees best week since April on recovery hopes; M&A chatter boosts Meggitt By Reuters

Adidas shrugs off China boycott call to raise outlook By Reuters

BMW confirms 2021 outlook, but sees volatility ahead By Reuters

Soccer-Newcastle’s Ashley says ‘dark forces’ preventing them from being powerhouse By Reuters

Japan shares higher at close of trade; Nikkei 225 up 0.09% By Investing.com

British Airways-owner IAG cautious on Q2 capacity By Reuters

Activist Sherborne sells Barclays stake By Reuters

IHG says bookings signal further pick-up on summer demand By Reuters

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