12 August

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Dollar off four-month high as inflation jitters ease By Reuters

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By Iain Withers LONDON (Reuters) - The dollar stood just below a four-month peak against major peers on Thursday as currency traders digested data from the previous day showing U.S. inflation may be coming off the boil. The dollar index, which measures the greenback against a basket of six rivals, was little changed at 92.907, after edging 0.2% lower on Wednesday following the report of easing consumer price growth. The greenback has broadly strengthened since mid-June - hitting its highest since April 1 at 93.195 prior to Wednesday's data - when the U.S. Federal Reserve flagged...

12 August

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China’s Nio aims to take on Volkswagen, Toyota with new brand By Reuters

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BEIJING (Reuters) - Chinese premium electric vehicle maker Nio Inc, which now counts BMW and Audi as rivals, is working on a mass-market new brand that will be positioned similar to Volkswagen (DE:VOWG_p) and Toyota, its CEO said. The automaker had stepped up preparations to make mass-market products under another brand https://www.reuters.com/article/us-nio-china-idUSKBN29G06C and a "core team" had been assembled as a "first step of a strategic initiative", Chief Executive William Li said on Thursday. "The relationship between Nio and our new mass-market brand will be like that of Audi-Volkswagen and Lexus-Toyota," Li said, without specifying...

12 August

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FTSE 100 weighed down by energy stocks By Reuters

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(Reuters) - London's FTSE 100 eased on Thursday as weakness in heavyweight energy stocks outweighed optimism over a slew of strong corporate earnings reports. The blue-chip FTSE 100 edged 0.1% lower with oil majors BP (LON:BP) and Royal Dutch Shell (LON:RDSa) being the top drags. Insurer Aviva (LON:AV) rose 3.5% and was the top gainer on the FTSE 100 after it reported a 17% rise in first-half operating profit and said it would return at least 4 billion pounds ($5.55 billion) to shareholders. Britain's economy grew by a faster-than expected...

12 August

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Foxconn’s Q2 profit beats estimates as pandemic drives tech demand By Reuters

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TAIPEI (Reuters) -Taiwan's Foxconn reported a better-than expected quarterly profit on Thursday due to strong demand for technology products from clients, such as Apple Inc (NASDAQ:AAPL), as people continued to telecommute amid the COVID-19 pandemic. The world's largest contract electronics maker reported April-June net profit of T$29.779 billion ($1.07 billion), up 30% from a year earlier. That compared to a Refinitiv consensus estimate of T$25.98 billion drawn from 12 analysts. Its revenue rose 20% from a year earlier to T$1.35 trillion, its highest on record for the second quarter and better than a company forecast for...

12 August

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Asian shares fall as Delta fears eclipse Wall Street uptick By Reuters

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By Alun John HONG KONG (Reuters) - Asian shares failed to follow a strong close on Wall Street with fears about the spread of the Delta variant of the coronavirus weighing on sentiment even as tame U.S. inflation eased fears the Federal Reserve would rush to reduce its economic support. That data also caused dollar to retreat against most major currencies and U.S. Treasury yields to edge down overnight though both were steadier in Asian hours. MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.25% in early trading, dragged by a 0.24% decline...

12 August

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China investors turn to renewables, chips, to avoid regulators’ attention By Reuters

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By Scott Murdoch HONG KONG (Reuters) - Investors in China are turning to semiconductors, renewable energy and consumer-focused firms in the belief they offer safe-harbour from a blizzard of regulatory action that has battered confidence and forced funds to overhaul their portfolios. Money managers view months of crackdowns that have hammered shares in sectors from tutoring to big tech as part of a major push from China's Communist Party leadership to pursue common prosperity at the expense of private-sector profit. Yet as selling has wiped billions from the value of companies in the crosshairs, such as...

12 August

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Explainer-How hackers stole $613 million in crypto tokens from Poly Network By Reuters

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By Gertrude Chavez-Dreyfuss and Michelle Price WASHINGTON (Reuters) - Hackers pulled off the biggest ever cryptocurrency heist on Tuesday, stealing $613 million in digital coins from token-swapping platform Poly Network, only to return $260 million https://www.reuters.com/technology/defi-platform-poly-network-reports-hacking-loses-estimated-600-million-2021-08-11 worth of tokens less than 24 hours later, the company said. Here's what we know so far about the heist. WHAT IS POLY NETWORK? A lesser-known name in the world of crypto, Poly Network is a decentralized finance (DeFi) platform that facilitates peer-to-peer transactions with a focus on allowing users to transfer or swap tokens across different blockchains. ...

12 August

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Elon Musk visits Germany, meets with state leaders over ‘gigafactory’ By Reuters

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FRANKFURT (Reuters) -Tesla CEO Elon Musk on Wednesday evening met with the leadership of Brandenburg, the German state where the group's 5.8 billion euro ($6.9 billion) European gigafactory is being built, its Economy Minister Joerg Steinbach said on Twitter https://twitter.com/joergstb/status/1425538770565275650. Steinbach, who posted a picture https://twitter.com/joergstb/status/1425538767876722690/photo/1 of Musk along with the tweet, said the meeting was also attended by Brandenburg's state premier Dietmar Woidke. "Very relaxed evening meeting with @elonmusk, D. Woidke, co-workers on both sides and myself. In an atmosphere of mutual trust we discussed the remaining tasks. Thanks to you and your great family...

12 August

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EBay forecasts revenue below estimates as shoppers venture out By Reuters

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(Reuters) - EBay Inc on Wednesday forecast current quarter revenue below analysts' estimates, signaling that reopening economies and vaccine rollouts could be putting an end to the pandemic-led shopping boom. In the past year, customers turned to e-commerce platforms during the coronavirus pandemic as they were home-bound for months at a stretch, but vaccine rollouts are expected to lead a return to brick-and-mortar shopping as more people step out of their homes. EBay said it expects third-quarter revenue in the range of $2.42 billion to $2.47 billion, while analysts were expecting $2.92 billion, according to IBES...

12 August

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Canada condemns China’s treatment of detained citizens, with issue set to figure in election By Reuters

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By David Ljunggren and Moira Warburton OTTAWA/VANCOUVER (Reuters) - Canada condemned China on Wednesday for its treatment of two detained Canadian citizens, days ahead of the anticipated start of an election campaign in which opposition parties are expected to accuse the Liberal government of being soft on Beijing. Earlier in the day, a Chinese court sentenced businessman Michael Spavor to 11 years in prison on spying charges. Foreign Minister Marc Garneau slammed what he called a completely unjustified verdict after "a mock sham trial." Spavor and Michael Kovrig were detained in December 2018, shortly...

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News

Dollar off four-month high as inflation jitters ease By Reuters

China’s Nio aims to take on Volkswagen, Toyota with new brand By Reuters

FTSE 100 weighed down by energy stocks By Reuters

Foxconn’s Q2 profit beats estimates as pandemic drives tech demand By Reuters

Asian shares fall as Delta fears eclipse Wall Street uptick By Reuters

China investors turn to renewables, chips, to avoid regulators’ attention By Reuters

Explainer-How hackers stole $613 million in crypto tokens from Poly Network By Reuters

Elon Musk visits Germany, meets with state leaders over ‘gigafactory’ By Reuters

EBay forecasts revenue below estimates as shoppers venture out By Reuters

Canada condemns China’s treatment of detained citizens, with issue set to figure in election By Reuters

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