23 July

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GM issues new recall for nearly 69,000 Bolt EVs for fire risks By Reuters

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By David Shepardson WASHINGTON (Reuters) - General Motors Co (NYSE:GM) said Friday it is issuing a new recall for nearly 69,000 Chevrolet Bolt electric vehicles (EVs) worldwide for fire risks after reports of two new fires. The Bolt EVs were recalled in November for fire risks and at least one of the two new fires was in a vehicle that had already had the software update released as part of the recall. The recall comes after GM and U.S. safety regulators last week urged those owners to park vehicles outside and away from homes...

23 July

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Auto rally, corporate earnings put Europe on track for weekly gains By Reuters

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By Sruthi Shankar (Reuters) - European stocks were on track to close the week higher on Friday, as optimism about the earnings season and the European Central Bank's pledge of continued monetary support outweighed risks of a resurgence in COVID-19 cases. The pan-European STOXX 600 index rose 0.6% and was set for a 1% weekly rise, its best in a month. Automakers were the top gainers in morning trade. Mercedes-Benz maker Daimler gained 3.1% after Kepler Cheuvreux upgraded its stock to "buy", saying its growth is not properly reflected in the share price. French car...

23 July

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EU seeks two-month delay in talks on Hungary recovery plan -PM By Reuters

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BUDAPEST (Reuters) - The European Union is seeking a two-month delay in talks on Hungary's pandemic recovery plan, with funding likely to be delayed over contested issues as part of an "ideological war" with Brussels, Prime Minister Viktor Orban said on Friday. A European Commission spokesperson said on Thursday that Hungary's recovery plan, which would see it get 7.2 billion euros ($8.47 billion) in grants from the EU, was still under evaluation and it was unclear what the next steps in the process were. The Commission evaluation and infringement steps launched against Hungary over a law...

23 July

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ECB’s Wunsch uncomfortable with multi-year commitment on rates -CNBC By Reuters

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FRANKFURT (Reuters) - European Central Bank policymaker Pierre Wunsch said on Friday he was uncomfortable with the ECB's new guidance, which financial markets have taken as a commitment not to raise interest rates for "five or six years". Wunsch was one of just two ECB governors who dissented from Thursday's decision to push out the timing of any rate hike, which is now off the table until inflation is within sight of the euro zone central bank's 2% target. Wunsch said his disagreement "shouldn't be dramatised" but went on to say the ECB had tied...

23 July

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British watchdog probes EV charging operators as ban on fuel cars looms By Reuters

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(Reuters) -Britain's competition regulator said on Friday it had launched a probe into some electric vehicle chargepoint operators on highways and motorways, as it laid out guidelines to ensure a robust charging network to aid the country's net zero plans. "While some parts of this new sector are developing relatively well...

23 July

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Vaccine business helps Lonza lifts 2021 sales outlook By Reuters

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(Repeats to fix formatting issues) By John Revill ZURICH (Reuters) -Swiss contract drugmaker Lonza lifted its 2021 outlook on Friday after sales for the first half of the year beat analyst expectations as it benefits from a booming business making ingredients for COVID-19 vaccines. The company, which has intensified agreements with vaccine producer Moderna (NASDAQ:MRNA), posted a 13.3% jump in sales to 2.54 billion Swiss francs ($2.76 billion), beating analyst forecasts for 2.47 billion francs. Lonza now expects sales to increase in constant exchange rates towards the mid-teens percentage level for 2021, up from...

23 July

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Cobham makes $3.6 billion bid to buy defence rival Ultra Electronics By Reuters

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(Reuters) -British aerospace and defence group Cobham (LON:COB) has made a takeover offer for Ultra Electronics in a deal valuing the defence engineering supplier at about 2.58 billion pounds ($3.55 billion), Ultra said on Friday. The offer represents about a 42% premium to Ultra's last closing price and was higher than a previous bid made in June, Ultra said. Cobham, which was taken private by private equity firm Advent International last year for 4 billion pounds, has proposed paying 35 pounds per share in cash for London-listed Ultra, with shareholders also entitled to the...

23 July

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Lagarde’s communication revolution falls short of hype: analysts By Reuters

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By Krisztian Sandor FRANKFURT (Reuters) - Christine Lagarde's attempt to reform the European Central Bank's communication fell short of a revolution on Thursday as she struggled to simplify concepts and make the message more accessible to a broader public, ECB-watchers said. Having spent 18 months poring over its strategy, the ECB set out this month to make communication shorter, crisper and clearer. But ECB President Lagarde's first attempt since the strategy review received only middling grades from regular watchers of the euro zone's central bank. "I think on that point the ECB over-promised and...

23 July

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Biogen Alzheimer’s drug slow to take off as U.S. Medicare wrestles with coverage By Reuters

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(Fixes name of Tufts Medical Center in paragraph 18 (removes word "University") By Deena Beasley (Reuters) -U.S. hospitals that were expected to be early adopters of Biogen’s Alzheimer’s drug have treated only a handful of patients since its early June approval as they wait for the first payments from the government’s Medicare program for people aged 65 and older. The U.S. Food and Drug Administration approved the drug, called Aduhelm, based on limited evidence that it might slow a decline in cognitive function in people with the memory-robbing disease. Some prominent doctors, hospitals and health insurers...

23 July

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Dollar eases amid recovery in risk appetite with Fed meeting in focus By Reuters

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By Kevin Buckland TOKYO (Reuters) - The dollar was set to end the week close to where it started following a roller-coaster week in which currencies were tossed around by shifting risk appetite, with the market's focus now shifting to next week's U.S. Federal Reserve meeting. The dollar index is on track to advance 0.1% for the week, having barely budged overnight to stand at 92.782 in Asia on Friday. That was, however, off the 3-1/2-month high of 93.194 hit on Wednesday as strong Wall Street earnings helped investors regain some of the confidence lost to...

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News

GM issues new recall for nearly 69,000 Bolt EVs for fire risks By Reuters

Auto rally, corporate earnings put Europe on track for weekly gains By Reuters

EU seeks two-month delay in talks on Hungary recovery plan -PM By Reuters

ECB’s Wunsch uncomfortable with multi-year commitment on rates -CNBC By Reuters

British watchdog probes EV charging operators as ban on fuel cars looms By Reuters

Vaccine business helps Lonza lifts 2021 sales outlook By Reuters

Cobham makes $3.6 billion bid to buy defence rival Ultra Electronics By Reuters

Lagarde’s communication revolution falls short of hype: analysts By Reuters

Biogen Alzheimer’s drug slow to take off as U.S. Medicare wrestles with coverage By Reuters

Dollar eases amid recovery in risk appetite with Fed meeting in focus By Reuters

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