24 July

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ECB survey sees higher growth, inflation in next 2 years By Reuters

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FRANKFURT (Reuters) - Euro zone growth and inflation could be higher this year and next than earlier predicted, the European Central Bank's Survey of Professional Forecasters showed on Friday. Inflation, targeted at 2% by the ECB, could hit 1.9% this year, above the 1.6% predicted three months ago while 2022 inflation is now seen at 1.5% as against 1.3%. Although the increase in projections may be seen as a positive for the ECB, which has undershot its target for the past decade, the new survey forecast are in line with the bank's own estimates and do...

24 July

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AstraZeneca scours supply chain for more vaccine doses for Thailand, SE Asia By Reuters

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BANGKOK (Reuters) - AstraZeneca (NASDAQ:AZN) Plc is "scouring" its global supply chain to try and boost COVID-19 vaccine supplies to Thailand and Southeast Asia, its representative for the country said on Saturday, amidst speculations of local production shortfalls. The comments come after leaked letters https://www.reuters.com/business/healthcare-pharmaceuticals/leaked-letters-show-astrazeneca-vaccine-commitment-not-thailand-claimed-2021-07-19 showed last week that the drugmaker had offered to supply 5-6 million vaccine doses a month to Thailand, contradicting assertions by Thai officials that the government is owed 10 million a month and 61 million doses by end-2021. AstraZeneca is "scouring the 20+ supply chains in our worldwide manufacturing network...

24 July

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Global supply chains buckle as virus variant and disasters strike By Reuters

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By Jonathan Saul, Muyu Xu and Yilei Sun LONDON/BEIJING (Reuters) -A new worldwide wave of COVID-19. Natural disasters in China and Germany. A cyber attack targeting key South African ports. Events have conspired to drive global supply chains towards breaking point, threatening the fragile flow of raw materials, parts and consumer goods, according to companies, economists and shipping specialists. The Delta variant of the coronavirus has devastated parts of Asia and prompted many nations to cut off land access for sailors. That's left captains unable to rotate weary crews and about 100,000 seafarers stranded at...

24 July

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GM, Cruise demand Ford drop ‘BlueCruise’ name for hands-free driving By Reuters

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By Joseph White DETROIT (Reuters) -General Motors Co and its Cruise robo-taxi subsidiary said early Saturday they have asked a U.S. federal court to stop Ford Motor (NYSE:F) Co from using the name "BlueCruise" to market its hands-free driving technology. In a statement and documents released shortly after midnight Detroit time, GM said Ford's use of the BlueCruise name infringed on GM's Super Cruise and other GM trademarks for automated driving, such as Hyper Cruise, as well as Cruise's trademarks. "While GM had hoped to resolve the trademark infringement matter with Ford amicably, we were...

24 July

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Global equity funds post outflows on virus worries – Lipper By Reuters

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(Reuters) - Global equity funds recorded net outflows for the first time in six weeks in the week to July 21 as concerns over a resurgence of coronavirus cases worldwide prompted investors to move towards safer assets. According to Refinitiv Lipper data, global equity funds saw net outflows of $5.9 billion in the week, led by a $10.4 billion outflow from U.S. equity funds. Asian and European equity funds, however, saw net inflows of $2.8 billion and $0.6 billion respectively. (Graphics: Fund flows into global equities bonds and money markets: https://fingfx.thomsonreuters.com/gfx/mkt/akvezgqbmpr/Fund%20flows%20into%20global%20equities%20bonds%20and%20money%20markets.jpg) OCBC analysts said in...

24 July

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Bank of England to accept new green gilts in QE programme By Reuters

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LONDON (Reuters) -The Bank of England said on Friday that it intended to buy new green gilts which will be issued by Britain's government later this year as part of its asset purchase programme, treating them similarly to other government debt. Britain's government plans to issue at least 15 billion pounds ($20.6 billion) of new debt this financial year which is specifically designed to capitalise on investor demand for bonds whose proceeds are ring-fenced for environmental investments. "In response to questions from market participants, the Bank of England confirms that green gilts will have equivalent...

24 July

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Lagarde tames her biggest ECB rebellion through compromise and attrition By Reuters

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By Balazs Koranyi, Francesco Canepa and Frank Siebelt FRANKFURT (Reuters) - European Central Bank President Christine Lagarde tamed the biggest rebellion of her tenure this week through compromise, persuasion, attrition - and a bit of German help, six sources with direct knowledge of the discussion said. When the dust settled, only two out of 25 policymakers, the German and Belgian central bank governors, objected to the bank's new guidance on interest rates, which essentially promises unchanged or lower rates into the second half of the decade. But that outcome masks deep divisions, the sources said....

24 July

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Global insurance recovery will be faster, stronger than in 2008 -Swiss Re By Reuters

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By Alwyn Scott NEW YORK (Reuters) - The global insurance industry is poised to recover more quickly and forcefully from the pandemic than it did after the 2008 financial crisis, despite such obstacles as low interest rates and inflation risk, insurer Swiss Re AG's chief Americas economist said on Friday. Unlike the prior crisis, the pandemic did not weaken insurers' overall capitalization or financial strength, which allows companies to write new coverage and increase revenue, economist Thomas Holzheu told Reuters. Writing new policies was more difficult in 2009 and 2010 when insurers were reeling from...

24 July

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Judge grants U.S. FTC more time to file amended complaint against Facebook By Reuters

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(Reuters) -A U.S. judge on Friday gave the U.S. Federal Trade Commission until Aug. 19 to file an amended complaint in its antitrust lawsuit against Facebook Inc (NASDAQ:FB), an extension of three weeks from the previous deadline. Judge James Boasberg of the U.S. District Court for the District of Columbia granted the FTC's request for the extension, which was not opposed by Facebook. "Plaintiff shall file an amended complaint by August 19, 2021," Boasberg said in his order, adding that Facebook should respond to the mended complaint by Oct. 4. Boasberg had earlier said...

24 July

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Former Virgin Galactic CEO to fly to space – CNBC By Reuters

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(Reuters) - Former chief executive officer of Virgin Galactic Holdings, George Whitesides, will fly to space on the aerospace company's next test spaceflight, CNBC reported on Friday. Richard Branson, the billionaire founder of Virgin Galactic, flew to space earlier this month, beating Amazon.com Inc (NASDAQ:AMZN)'s Jeff Bezos to the final frontier. Branson announced the news about Whitesides during a party in New Mexico on July 11, following his own spaceflight, the report said. Lori Garver, a former deputy administrator of NASA was present at the party and told CNBC that Branson said, "George will...

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News

ECB survey sees higher growth, inflation in next 2 years By Reuters

AstraZeneca scours supply chain for more vaccine doses for Thailand, SE Asia By Reuters

Global supply chains buckle as virus variant and disasters strike By Reuters

GM, Cruise demand Ford drop ‘BlueCruise’ name for hands-free driving By Reuters

Global equity funds post outflows on virus worries – Lipper By Reuters

Bank of England to accept new green gilts in QE programme By Reuters

Lagarde tames her biggest ECB rebellion through compromise and attrition By Reuters

Global insurance recovery will be faster, stronger than in 2008 -Swiss Re By Reuters

Judge grants U.S. FTC more time to file amended complaint against Facebook By Reuters

Former Virgin Galactic CEO to fly to space – CNBC By Reuters

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