15 April

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Britain, EU pin down Northern Ireland protocol issues -Irish minister By Reuters

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DUBLIN (Reuters) - The European Union and Britain have isolated 27 different issues in relation to Northern Ireland's contested post-Brexit trade arrangements, some of which are more difficult than others and require political solutions, Ireland's foreign minister said. "We need to talk seriously about how the protocol is being managed, how it can be implemented in a way that listens to the concerns many in Northern Ireland have and what flexibilities are possible," Simon Coveney told Irish national broadcaster while in London for a series of meetings with British ministers. ...

15 April

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Germany eyes hike in GDP growth forecast for this year – minister By Reuters

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BERLIN (Reuters) - German Economy Minister Peter Altmaier said on Thursday he expected the government to significantly lift its full-year 2021 forecast for gross domestic product growth after leading institutes revised their own estimates. "We'll not only be able to stop the economic slump this year, we can reverse it and regain our old strength next year," Altmaier said, adding he would present the government's updated GDP growth forecast on April 27. In January, the government predicted GDP growth of 3% for 2021, following a drop of 4.9% in the previous year caused by the coronavirus...

15 April

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TuSimple raises over $1 billion in U.S. IPO at nearly $8.5 billion valuation By Reuters

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(Reuters) - TuSimple Holdings Inc said on Thursday it had raised more than $1 billion through an initial public offering (IPO), valuing the self-driving truck startup at nearly $8.5 billion. The San Diego, California-based company sold around 27 million shares in its IPO, while some stockholders sold about 6.8 million shares priced at $40 apiece. Backed by Volkswagen (DE:VOWG_p)'s commercial trucking unit, TRATON SE, and United Parcel Service Inc (NYSE:UPS), TuSimple is developing self-driving trucks with Navistar International Corp whose production is slated to start in 2024. The company is the latest...

15 April

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Bank of America profit more than doubles on reserve release boost By Reuters

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(Reuters) - Bank of America Corp (NYSE:BAC) reported a jump in first-quarter profit that breezed past estimates on Thursday as it released reserves it had set aside to cover potential coronavirus loan losses. The bank released $2.7 billion from its reserves, betting on a swift economic recovery as more people get vaccinated and businesses return to normal. The second-largest U.S. bank by assets also reported a 12% fall in consumer banking revenue to $8.1 billion in the quarter ended March. Appetite for new loans waned during the pandemic as customers spent less and saved more and...

15 April

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Cathie Wood’s Ark buys into Coinbase, sells a bit of Tesla By Reuters

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By Thyagaraju Adinarayan LONDON (Reuters) - Cathie Wood's Ark funds bought $246 million worth of Coinbase shares on the cryptocurrency exchange's Nasdaq debut on Wednesday and sold some Tesla shares, according to their daily fund trading summary. A chunky $168 million of Coinbase shares were added to its flagship ARK Innovation fund, and the remainder went into its next generation and fintech innovation funds. Notably, one of Wood's funds sold a $4.4 million stake in New York Stock Exchange owner Intercontinental Exchange. Coinbase shares were up 11% in U.S. premarket trading on Thursday, after having risen...

15 April

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Ireland on track to ease restrictions, lay out summer plan – Deputy PM By Reuters

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DUBLIN (Reuters) - Ireland is on track to ease restrictions from May 4 to allow the phased reopening of all retail stores and hairdressers and will also develop a plan for further reopenings in June and July, Deputy Prime Minister Leo Varadkar said on Thursday. Ireland shut most shops, building sites and hospitality in late December after a surge of COVID-19 infections. It began gradually unwinding economic restrictions this week, with housebuilding permitted and all students returning to schools. The third shutdown in the last year has turned one of the world's highest incidence...

15 April

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German economy shrank 1.8% in first quarter due to COVID lockdown – institutes By Reuters

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BERLIN (Reuters) - The German economy probably shrank by 1.8% on the quarter in the first three months of this year due to COVID-19 restrictions, leading economic institutes said on Thursday as they revised their joint growth forecast for Europe's largest economy. The institutes now expect gross domestic product to grow by 3.7% this year, sharply down from their previous forecast of 4.7%. But the institutes revised upwardly their GDP estimate for 2022 to 3.9% from 2.7% as they expect household spending to bounce back once coronavirus restrictions are lifted again. ...

15 April

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UK job ads return to pre-pandemic level – Adzuna By Reuters

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LONDON (Reuters) - Online job adverts in Britain returned to pre-pandemic levels last week, boosted by pubs and restaurants looking for staff as they prepared to partially reopen, job search website Adzuna said on Thursday. Total online job ads hit 100% of their February 2020 average level on April 8, a rise of three percentage points from a week earlier, Adzuna said. "We're not back to normal yet but these are really promising signs," Adzuna co-founder Andrew Hunter said. "There are still some hard yards to be fought and the big unknown is what will happen...

15 April

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Chip shortage weighs on car sector recovery – Volkswagen CEO By Reuters

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FRANKFURT (Reuters) - An ongoing shortage of crucial semiconductors is the only factor weighing on a global recovery of the car sector from the coronavirus crisis, Herbert Diess, chief executive of Volkswagen (DE:VOWG_p) AG, said on Thursday. Demand is picking up in the United States, Brazil and China, Diess said at the Hannover Messe trade fair, adding the world's second-largest carmaker was also working through high order intake in Europe. "The only thing that is currently limiting and slowing down this recovery is the critical supply situation worldwide with regard to various semiconductor types," Diess said....

15 April

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Shell plays down risk of stranded oil and gas reserves By Reuters

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By Ron Bousso LONDON (Reuters) - Royal Dutch Shell (LON:RDSa) said on Thursday the majority of its oil and gas reserves will be produced by 2050, playing down the risk of stranded assets as it prepares to reduce its greenhouse gas emissions in the coming decades. The disclosure is still a rare admission by a major oil and gas company that some of its reserves may be worthless in a world shifting away from fossil fuels to renewable energy in an effort to stem global warming. The Anglo-Dutch company said in a document to investors summarising...

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News

Britain, EU pin down Northern Ireland protocol issues -Irish minister By Reuters

Germany eyes hike in GDP growth forecast for this year – minister By Reuters

TuSimple raises over $1 billion in U.S. IPO at nearly $8.5 billion valuation By Reuters

Bank of America profit more than doubles on reserve release boost By Reuters

Cathie Wood’s Ark buys into Coinbase, sells a bit of Tesla By Reuters

Ireland on track to ease restrictions, lay out summer plan – Deputy PM By Reuters

German economy shrank 1.8% in first quarter due to COVID lockdown – institutes By Reuters

UK job ads return to pre-pandemic level – Adzuna By Reuters

Chip shortage weighs on car sector recovery – Volkswagen CEO By Reuters

Shell plays down risk of stranded oil and gas reserves By Reuters

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