27 July

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Robinhood Working on Feature to Let Users Invest Spare Change By Bloomberg

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(Bloomberg) -- Robinhood Markets Inc. is exploring new features that would let customers invest spare change and better protect against volatility in cryptocurrency trading, according to code hidden inside a test version of the company’s iPhone app. Robinhood is developing an option called “round up investments” that will allow users to invest their spare change in specific stocks, according to the code, which was part of a version of the app distributed to beta testers earlier this month. The code also shows that the company is exploring a rewards program that will give bonuses to...

27 July

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JetBlue Plunges After Airline Indicates Recovery Is Some Way Off By Investing.com

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By Dhirendra Tripathi Investing.com – JetBlue (NASDAQ:JBLU) stock slumped by more than 7% Tuesday following comments from a senior company official that seemed to suggest that the airline’s return to prepandemic performance may take time. “We are committed to generating better than prepandemic earnings in the next few years by growing revenue and controlling costs, and we are confident that we are on the right path to expand margins in a sustainable way,” said Ursula Hurley, JetBlue’s acting chief financial officer. According to Joanna Geraghty, JetBlue’s president and chief operating officer, the airline’s third-quarter revenue is...

27 July

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No Crabs, No Scallops: Seafood Is Vanishing From Menus in U.S. By Bloomberg

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(Bloomberg) -- At the Clam, there are no scallops. Prices went “crazy,” says Mike Price, who co-owns the Greenwich Village restaurant, and so he yanked them off the menu. Over in Napa Valley, Phil Tessier, the executive chef at a popular spot called PRESS, did the same. And in Atlanta, at the tapas joint the Iberian Pig, chef Josue Pena didn’t stop at scallops. The Alaskan halibut and blue crab are gone, too. That last one was a killer, Pena says. Crab croquettes had become a signature dish. “People were like ‘what’s up?’” But, he says,...

27 July

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Consumer Confidence in U.S. Unexpectedly Rises for Sixth Month By Bloomberg

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(Bloomberg) -- U.S. consumer confidence improved for a sixth straight month in July to a fresh pandemic high as Americans grew more optimistic about current business and labor market conditions. The Conference Board’s index rose to 129.1 from a revised 128.9 reading in June, according to the group’s report Tuesday. Economists in a Bloomberg survey had called for a decline to 123.9. Inflation expectations eased slightly -- though remain elevated -- while buying plans strengthened. The confidence gauge is nearing pre-pandemic levels, suggesting that consumers are growing more upbeat as economic activity resumes. Even so,...

27 July

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3M raises annual forecasts on pandemic recovery, warns of higher costs By Reuters

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(Reuters) - 3M (NYSE:MMM) Co reported a better-than-expected quarterly profit and raised its full-year forecasts, helped by increased demand across major segments as economies recover from the impact of the COVID-19 pandemic. The company, which caters to industries including automotive, aerospace and oral care, has seen a sharp rise in demand following vaccine rollouts and easing restrictions. Shares of the maker of N95 face masks and Scotch-Brite home care products rose just marginally, coming under pressure from the company's comment that it was facing higher logistics and raw material costs. A fresh wave of...

27 July

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Google, Facebook set to squash initial iOS fears, show big revenue jump By Reuters

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By Nivedita Balu and Elizabeth Culliford (Reuters) - Wall Street expects Alphabet (NASDAQ:GOOGL) Inc and Facebook Inc (NASDAQ:FB) to report a surge in digital ad sales this week after smaller rivals showed soaring demand, bolstering expectations that the impact of Apple Inc (NASDAQ:AAPL)'s privacy changes has not yet been felt. Together, Google and Facebook generated about $70 billion in revenue through digital ads in the first quarter, a business that faced initial hits from the COVID-19 pandemic but which analysts said is now looking robust. Upbeat second-quarter results from Snap and Twitter have...

27 July

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One dead, four missing after explosion rocks German chemicals site By Reuters

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BERLIN (Reuters) -One person is dead and four are missing after an explosion rocked an industrial park in the western German city of Leverkusen on Tuesday, sending dark plumes of smoke into the sky. A fire at the Chempark site, which includes chemicals companies Bayer (DE:BAYGN) and Lanxess AG (DE:LXSG), had been extinguished after an explosion at 9.40 a.m. local time (0740 GMT), park operator Currenta said. "We are deeply shaken by the tragic death of one colleague," Chempark chief Lars Friedrich said in a series of tweets, adding that four more people...

27 July

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Cash-hungry emerging markets arrive late to the SPAC party By Reuters

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By Tom Arnold LONDON (Reuters) -Emerging markets have so far been on the fringes of a fundraising boom using so-called SPACs or special-purpose acquisition companies, which could potentially unlock a vital new source of cash for entrepreneurs in developing regions. But the take-off of SPAC fundraisings in these markets hinges in part on the success of a few recently-delayed landmark deals, reflecting wider global investor caution about this funding tool. SPACs allow investors to list a shell company on public markets before they have identified a business to buy, which provides a speedier route to an...

27 July

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Dollar stabilises near recent peaks as traders await Fed By Reuters

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By Tom Westbrook SINGAPORE (Reuters) - The U.S. dollar hovered below recent peaks on Tuesday, as investors turned to this week's Federal Reserve meeting for clues on the policy outlook, while cryptocurrencies pulled back sharply from an attempt to break out of a monthslong range. The dollar held at $1.1809 per euro in Asia, finding support after a small dip on Monday. It bought 110.18 yen and the Australian and New Zealand dollars held onto small gains made Monday. The greenback has been rising broadly for more than a month as markets have become wary...

27 July

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BOJ’s Kuroda calls for ‘learning by doing’ approach on climate change By Reuters

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By Leika Kihara TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Tuesday the central bank will roll out steps deemed important for dealing with climate change, and stand ready to modify them as needed. Kuroda said the BOJ must assist private-sector efforts to combat climate change as increasing natural disasters and a transition towards a carbon-free society could affect economic, price and financial developments in the long run. Uncertainty over what is considered "green" and debate over how best to deal with climate change should not discourage central banks from acting now rather...

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News

Robinhood Working on Feature to Let Users Invest Spare Change By Bloomberg

JetBlue Plunges After Airline Indicates Recovery Is Some Way Off By Investing.com

No Crabs, No Scallops: Seafood Is Vanishing From Menus in U.S. By Bloomberg

Consumer Confidence in U.S. Unexpectedly Rises for Sixth Month By Bloomberg

3M raises annual forecasts on pandemic recovery, warns of higher costs By Reuters

Google, Facebook set to squash initial iOS fears, show big revenue jump By Reuters

One dead, four missing after explosion rocks German chemicals site By Reuters

Cash-hungry emerging markets arrive late to the SPAC party By Reuters

Dollar stabilises near recent peaks as traders await Fed By Reuters

BOJ’s Kuroda calls for ‘learning by doing’ approach on climate change By Reuters

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