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Best Buy Falls as Wedbush Sees Better Options By Investing.com

By Christiana Sciaudone Investing.com -- Best Buy Co Inc (NYSE:BBY) dropped 2% after Wedbush said there are "better opportunities elsewhere." The firm cut shares to neutral from buy as it said to buy Lowe's (NYSE:LOW) or Williams-Sonoma (NYSE:WSM) over the electronics retailer. “We believe that the category will continue to trail home improvement and home furnishings category growth in 2021,” analyst Seth Basham wrote in a note, according to StreetInsider. “We see better opportunities in other hardlines names, particularly in the home improvement category (LOW, FND) and home goods/ mattress category (WSM,...

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Bank of England says review of banker bonus cap not a priority By Reuters

LONDON (Reuters) -Reviewing the cap on banker bonuses is not a priority for the Bank of England as it decides whether to keep rules inherited from the European Union, a senior BoE official said on Monday. The EU rules limits bonuses to no more than twice a banker's fixed pay, and were introduced following taxpayer bailouts of banks in the 2008 global financial crisis. Most of the European bankers hit by the rule work in London. The BoE at the time objected to the rule, saying it could lead to banks ramping up fixed pay to...

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U.K. shares higher at close of trade; Investing.com United Kingdom 100 up 0.39% By Investing.com

Investing.com – U.K. equities were higher at the close on Monday, as gains in the Automobiles & Parts, Industrial Metals & Mining and Aerospace & Defense sectors propelled shares higher. At the close in London, the Investing.com United Kingdom 100 rose 0.39%. The biggest gainers of the session on the Investing.com United Kingdom 100 were Tui AG (LON:TUIT), which rose 6.66% or 25.90 points to trade at 415.00 at the close. Rolls-Royce Holdings PLC (LON:RR) added 5.96% or 6.06 points to end at 107.82 and Antofagasta PLC (LON:ANTO) was up 4.29% or 78.50 points...

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IMI shares rally after trading update, share buyback By Investing.com

By Samuel Indyk Investing.com – Shares in FTSE 250 company IMI PLC (LON:IMI) jumped as much as 12% after the company announced a new £200mln share buyback following a strong quarter. Group revenue was up 2.6% in Q1 versus the same quarter in 2019 to £421mln. Outlook Due to the strong performance, the company has increased margin guidance for 2021 and beyond. “Given the accelerated progress against our strategy, including the identification of further opportunities for profitable growth, we now have confidence that IMI will become a sustainable 18% to 20% margin business over time,”...

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British Airways CEO says “great opportunity” for UK-U.S. travel By Reuters

LONDON (Reuters) - The chief executive of British Airways said there was a "great opportunity" for Britain and the United States to open a travel corridor given their high vaccination rates. Speaking to an online industry conference, BA CEO Sean Doyle called on Britain to make its travel rules more simple and accessible, and said there was a need for more co-ordination between different countries on travel rules. ...

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U.S. Airlines Gain; Sales Gradually Recovering As Europe Reopens By Investing.com

By Dhirendra Tripathi Investing.com – Shares of American airline companies were up premarket Monday as number of bookings suggest more people are willing to travel amid vaccination rollouts and onset of summers. American Airlines (NASDAQ:AAL) stock was up 2% while Delta (NYSE:DAL), United (NASDAQ:UAL) and JetBlue (NASDAQ:JBLU) were all up just over 1%. Airline system sales fell 64.1% for the week ending April 18, compared with the level seen for the same week in 2019 when the world hadn’t heard of Covid-19, according to research from Bank of America (NYSE:BAC).  That marks a sequential improvement from...

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Commodities Surge, Tesla Earnings, Durable Goods – What’s Moving Markets By Investing.com

By Geoffrey Smith  Investing.com -- Industrial and agricultural commodities prices hit multiyear highs in sync, albeit for different reasons. Tesla (NASDAQ:TSLA) is exported to report a 66% rise in revenue after the close, but stocks are seen opening quietly ahead of megacap tech earnings and the Federal Reserve meeting later this week. Durable goods orders for March are due. The EU is getting ready to let U.S. tourists back in, and oil falls amid concerns that India's growing Covid-19 crisis won't be reflected in this week's meeting of OPEC and other major exporters. Here's what you...

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Iran sentences British-Iranian aid worker to one year jail By Reuters

DUBAI (Reuters) -An Iranian Revolutionary court has sentenced British-Iranian aid worker Nazanin Zaghari-Ratcliffe to a one-year jail term and she is banned from leaving the country for a year, her lawyer Hojjat Kermani told Emtedad news website on Monday. "Nazanin Zaghari was sentenced to one year in prison and a one year ban from leaving the country on charges of propaganda against the Islamic Republic," Kermani told the website. Zaghari-Ratcliffe, a project manager with the Thomson Reuters Foundation charity, was arrested at a Tehran airport in April 2016 and later convicted of plotting to overthrow...

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BP applies to set up U.S. retail power business – filing By Reuters

By Ron Bousso and Chris Prentice LONDON/WASHINGTON (Reuters) - BP (LON:BP) has applied to supply U.S. residential customers with electricity generated from wind, solar and natural gas, betting on a rapid growth in power demand as economies shift away from fossil fuels to battle climate change. BP wants to supply electricity in California, Illinois, Ohio, Pennsylvania and Texas in its first foray into the retail power business, according to an April 20 filing with the Federal Energy Regulatory Commission (FERC) seen by Reuters. The British company has no retail energy trading business but...

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Analysis-Viable plan or security theatre? Europe embraces digital health pass By Reuters

By Clara-Laeila Laudette and Douglas Busvine MADRID (Reuters) - As Europe races to set up a digital health pass scheme to save the holiday season from the pandemic, technical and political obstacles are showing just how big a challenge the world faces in building such systems, people involved in the effort say. Developers are grappling with issues ranging from the practical - such as what to accept as proof of being COVID-19 free - to the philosophical, including debates over discrimination and personal privacy.     Southern (NYSE:SO) countries that depend on tourism like Spain, Greece...

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