04 September

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German workers on short-time down 35% in August – Ifo By Reuters

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BERLIN (Reuters) - The number of employees put on reduced working hours in job protection schemes in Germany fell by 35% in August, the economic institute Ifo said on Friday, as recovery in Europe's largest economy continues. The number of people on the short-time work scheme, also known as Kurzarbeit, fell to 688,000 in August, down from 1.06 million in July, the Munich-based institute said. "This is the first time since the start of the coronavirus crisis that the number of people on short-time work has been below one million," Ifo survey expert Stefan Sauer said....

04 September

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Norway set for rate hike as economy accelerates, statistics agency says By Reuters

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OSLO (Reuters) - The Norwegian economy is set to grow rapidly in the next several years as it recovers from the impact of the pandemic, setting the stage for an imminent central bank rate hike, Statistics Norway (SSB) predicted on Friday. "The reopening of society is well underway, and the upswing in the Norwegian economy continues. The COVID-19 pandemic will nevertheless continue to impact on the economy for a long time to come," SSB said. "The first interest rate jump is expected to be in September." Non-oil gross domestic product (GDP) will rise by 3.6% in...

04 September

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Exclusive-Amazon to proactively remove more content that violates rules from cloud service -sources By Reuters

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By Sheila Dang (Reuters) -Amazon.com Inc plans to take a more proactive approach to determine what types of content violate its cloud service policies, such as rules against promoting violence, and enforce its removal, according to two sources, a move likely to renew debate about how much power tech companies should have to restrict free speech. Over the coming months, Amazon (NASDAQ:AMZN) will hire a small group of people in its Amazon Web Services (AWS) division to develop expertise and work with outside researchers to monitor for future threats, one of the sources familiar with the...

04 September

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Surveying storm damage, Biden vows to help Louisiana recover, promotes infrastructure plan By Reuters

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By Andrea Shalal LAPLACE, La. (Reuters) -President Joe Biden promised federal aid to storm-ravaged Louisiana and urged national unity for the long recovery still to come on Friday after Ida devastated parts of the U.S. Gulf coast and unleashed even deadlier flooding in the Northeast. Touring the damage in Louisiana, Biden met Governor John Bel Edwards and local officials to discuss the response to the hurricane, a domestic challenge that follows close on the heels of the chaotic withdrawal of U.S. forces from Afghanistan. The fifth most powerful hurricane to strike the United States came...

04 September

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China set to sell 1.7 million NEVs between Jan-Aug, nearly tripling on-year By Reuters

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BEIJING (Reuters) - China, the world's biggest vehicle market, is expected to sell 1.7 million new energy vehicles (NEV) in the first eight months of this year, up from 600,000 units in the same period last year, vice industry minister said on Saturday. The comments were made by Xin Guobin, vice minister at China's Ministry of Industry and Information Technology, at an industry conference in Tianjin hosted by China Automotive Technology and Research Center (CATARC). NEV include battery electric, plug-in hybrid and hydrogen fuel-cell vehicles. NEV makers such as Nio Inc, BYD and Tesla Inc are...

04 September

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Turkish hotels to close early after UK ‘red list’ dashes hopes By Reuters

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By Ceyda Caglayan and Canan Sevgili ISTANBUL (Reuters) - When Britain announced Turkey would stay on its "red list" of travel destinations last week, Onur Arican decided to close his boutique hotel on the Aegean coast early this year rather than wait out a summer season derailed by COVID-19 and wildfires. In 2019, Britain was Turkey's third-biggest source of tourists with 2.5 million visitors that year, most of whom flocked to the Turquoise Coast near Bodrum and Marmaris, where Arican runs his 19-room Mavi Yengec hotel. This year the number of British guests was down...

04 September

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Biden Calls Economic Recovery ‘Durable’ After Job Growth Falls By Bloomberg

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(Bloomberg) -- President Joe Biden said the U.S. economy remains strong after a disappointing jobs report, blaming a retrenchment in hiring on the spread of the delta variant of coronavirus. “What we’re seeing is an economic recovery that’s durable and strong,” he said, crediting his own policies including a $1.9 trillion pandemic relief bill earlier this year. “The measures we’ve taken so far have brought America out of an economic free-fall. We are adding jobs, not losing them,” he said. The Labor Department reported earlier that U.S. hiring abruptly down-shifted in August with the smallest jobs...

04 September

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MARKET WRAP: NFP disappoints, FTSE falls, USD declines, cryptos rally By Investing.com

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Key Points FTSE 100 closing price of 7,140.3, -0.33% US Nonfarm Payrolls misses expectations, could delay taper FTSE falls after data USD declines Oil marginally lower Cryptocurrencies jump, Ethereum breaks $4,000 By Samuel Indyk Investing.com – The FTSE 100 declined on Friday following the latest US labour market report which showed a disappointing number of jobs created during the month of August. The Bureau of Labor Statistics said just 235,000 nonfarm payrolls were added during the month, well below the 750,000 expected. The data all but rules out the Fed beginning to taper asset purchases at...

04 September

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Global stock benchmark at new high, dollar slips By Reuters

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By Herbert Lash NEW YORK (Reuters) -Big tech shares edged higher on Friday, helping a benchmark world stock index post a sixth consecutive closing high, after a weak U.S. jobs report likely pushed back the timetable for when the Federal Reserve reduces its massive support of the economy. Labor Department data that showed wages increasing more than expected in August raised inflation fears and led longer-dated Treasury yields to jump, while gold advanced to a more than a 2-1/2-month high as the dollar eased. MSCI's all-country world index, which is heavily weighted to big U.S....

04 September

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Porsche, Puma to join Germany’s DAX as index expands By Reuters

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By Tom Sims and Hakan Ersen FRANKFURT (Reuters) - German carmaker Porsche and sportswear maker Puma will join the nation's premier DAX stock index, as it expands to 40 from 30 companies in the biggest overhaul of its 33-year history, the exchange operator Deutsche Boerse (DE:DB1Gn) said on Friday. The expansion, contemplated for years, got a push in reaction to the collapse of German payments company Wirecard, which dramatically fell from grace in 2020, just two years after promotion to the benchmark index. A bigger index means greater diversification and potentially more stability for investors....

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German workers on short-time down 35% in August – Ifo By Reuters

Norway set for rate hike as economy accelerates, statistics agency says By Reuters

Exclusive-Amazon to proactively remove more content that violates rules from cloud service -sources By Reuters

Surveying storm damage, Biden vows to help Louisiana recover, promotes infrastructure plan By Reuters

China set to sell 1.7 million NEVs between Jan-Aug, nearly tripling on-year By Reuters

Turkish hotels to close early after UK ‘red list’ dashes hopes By Reuters

Biden Calls Economic Recovery ‘Durable’ After Job Growth Falls By Bloomberg

MARKET WRAP: NFP disappoints, FTSE falls, USD declines, cryptos rally By Investing.com

Global stock benchmark at new high, dollar slips By Reuters

Porsche, Puma to join Germany’s DAX as index expands By Reuters

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