30 June

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EU agrees three-month ceasefire with UK in “sausage war” By Reuters

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By Philip Blenkinsop BRUSSELS (Reuters) -The European Union agreed on Wednesday to a ceasefire with the United Kingdom in a post-Brexit dispute dubbed the "sausage war" by extending a grace period for shipments of certain meat products from Britain to Northern Ireland. The bloc will also make it easier for medicines and guide dogs to cross the Irish Sea and allow Northern Irish drivers to travel to Ireland with existing insurance documents, moves designed to ease tensions following Britain's exit from the EU. The grace period on chilled meat products was due to end on...

30 June

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Trump Organization, CFO expected to be charged Thursday -WSJ By Reuters

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NEW YORK (Reuters) - Former U.S. President Donald Trump's namesake company and its chief financial officer are expected to be charged on Thursday with tax-related crimes by Manhattan's district attorney, the Wall Street Journal reported on Wednesday. Charges by District Attorney Cyrus Vance have been expected to focus on whether Trump Organization CFO Allen Weisselberg and other officials received perks and benefits such as rent-free apartments and leased cars without reporting them properly on their tax returns, people familiar with the probe have said. Mary Mulligan, a lawyer for Weisselberg, declined to comment on...

30 June

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Swedish right-wing hopeful seeks to woo centrists in PM bid By Reuters

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STOCKHOLM (Reuters) - Sweden's centre-right Moderates offered centrists a raft of policies favoured by their mainly rural voters on Wednesday, in a bid to secure support for leader Ulf Kristersson's bid to become prime minister. Social Democrat Stefan Lofven's fragile centre-left minority government collapsed this month after the Left Party withdrew over plans to ease some rent controls. Lofven, in office since an inconclusive 2018 election, quit on Monday after losing a confidence vote in parliament last week. Sweden Moderates leader Kristersson is lobbying hard for support in the 349-parliament ahead of a vote which...

30 June

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U.K. shares lower at close of trade; Investing.com United Kingdom 100 down 0.71% By Investing.com

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Investing.com – U.K. equities were lower at the close on Wednesday, as losses in the Life Insurance/Assurance, Insurance and Electrical sectors propelled shares lower. At the close in London, the Investing.com United Kingdom 100 lost 0.71%. The biggest gainers of the session on the Investing.com United Kingdom 100 were NK Rosneft PAO DRC (LON:ROSNq), which rose 2.62% or 0.20 points to trade at 7.74 at the close. Compass Group PLC (LON:CPG) added 1.91% or 28.50 points to end at 1522.00 and Tui AG (LON:TUIT) was up 1.32% or 4.80 points to 369.50...

30 June

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FTSE 100 slips as COVID cases jump; but marks fifth consecutive monthly gain By Reuters

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By Shashank Nayar and Amal S (Reuters) -London's FTSE 100 fell on Wednesday on concerns that a recent jump in coronavirus infections could hinder the pace of economic growth, taking the shine off the fifth straight monthly gain for the blue-chip index. The FTSE 100 eased 0.7%, but clocked its best monthly winning streak since 2016. Heavyweight financials led declines, down 0.7%, followed by base and precious metal miners which were down 1.2% and 0.8% respectively. The index has gained 8.9% so far this year to stand just under 12% away from its record high....

30 June

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European shares end lower but gain for a fifth straight month By Reuters

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By Sagarika Jaisinghani and Ambar Warrick (Reuters) -European shares ended lower on Wednesday as investors locked in gains after a five-month winning streak, with concerns over an eventual spike in inflation and the Delta variant of the coronavirus also pushing some money off the table. The pan-European STOXX 600 closed 0.8% lower at 452.84 points but rose 1.4% in June, its fifth straight month of gains. The index is up 14.4% this year. Automobile stocks were the worst performers of the day, shedding 1.9%. But the sector has raced past its peers this year with...

30 June

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Virgin Galactic Falls As BofA Hands It A Double Downgrade By Investing.com

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By Dhirendra Tripathi Investing.com – Virgin Galactic (NYSE:SPCE) fell 5% Wednesday after BofA Securities delivered a double downgrade for the space travel company’s stock. BofA analyst Ronald Epstein downgraded Virgin Galactic to underperform from buy because of the recent surge in the price. The stock more than doubled in the first 28 days of this month including 39% purely on the news of the company securing Federal Aviation Administration’s approval to carry humans into space. The analyst cited the FAA approval and noted the company remains a beneficiary of the commercial space race. But given the...

30 June

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UK’s food retail growth to slow sharply in short term -IGD By Reuters

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LONDON (Reuters) - Britain's retail food and grocery market will see unprecedented pandemic driven growth of 8.5% in 2020 slow to 1.7% in 2021 and 0.9% in 2022, as shoppers economise and the eating out industry reclaims sales, industry researcher IGD said on Wednesday. It said the sharp decline in growth will be followed by a period of modest recovery, that will see the market grow by 8.1% to 229.1 billion pounds ($316.7 billion) over 2021-2026. IGD forecast the recovery will be fuelled by rising employment levels, growing consumer confidence, economic recovery and the new channels...

30 June

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BMW boosts corporate venture investment pool to $900 million By Reuters

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By Paul Lienert (Reuters) - German automaker BMW has established a second corporate venture fund, earmarking $300 million to bankroll startup companies focused on sustainability, advanced manufacturing and future transportation, the company said Wednesday. BMW i Ventures, based in Mountain View, California, will manage the fund, as well as continuing to disburse money from its initial 500-million-euro fund. The two funds bring BMW’s total venture investment pool to nearly $900 million, one of the largest in the global auto industry. Toyota Ventures, the corporate venture arm of Japan's Toyota Motor Corp which frequently co-invests with BMW,...

30 June

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Haldane Says U.K. at ‘Dangerous Moment’ as Inflation Heads to 4% By Bloomberg

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(Bloomberg) -- Bank of England Chief Economist Andy Haldane said inflation is likely to finish the year close to 4%, posing the biggest challenge to policy makers since the pound plunged in 1992. The forecast would be double the central bank’s target and over the 3% the BOE estimated earlier this month. Haldane, leaving his post on Wednesday, used his last speech to urge his colleagues to shift their attention away from stimulating the economy and toward controlling the pace of price increases. Delaying action, he said, will require bigger action later. “This would leave...

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EU agrees three-month ceasefire with UK in “sausage war” By Reuters

Trump Organization, CFO expected to be charged Thursday -WSJ By Reuters

Swedish right-wing hopeful seeks to woo centrists in PM bid By Reuters

U.K. shares lower at close of trade; Investing.com United Kingdom 100 down 0.71% By Investing.com

FTSE 100 slips as COVID cases jump; but marks fifth consecutive monthly gain By Reuters

European shares end lower but gain for a fifth straight month By Reuters

Virgin Galactic Falls As BofA Hands It A Double Downgrade By Investing.com

UK’s food retail growth to slow sharply in short term -IGD By Reuters

BMW boosts corporate venture investment pool to $900 million By Reuters

Haldane Says U.K. at ‘Dangerous Moment’ as Inflation Heads to 4% By Bloomberg

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