22 June

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European shares propped up by commodities, Powell speech in focus By Reuters

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By Sagarika Jaisinghani and Ambar Warrick (Reuters) - European shares settled higher on Tuesday as mining and energy stocks benefited from stable commodity prices, while investors hunkered down ahead of a speech by U.S. Federal Reserve chair Jerome Powell. The pan-European STOXX 600 closed 0.3% higher after flitting between gains through the session, with mining stocks rising 1.3% as base metal prices appeared to have stabilized from a recent plunge. [O/R] Chemical stocks rose 1.1% to a record high, as investors favoured sectors most likely to benefit from an economic recovery this year. Irish stocks...

22 June

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Airlines Count on Zoom Fatigue to Drive Business Travel Revival By Bloomberg

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(Bloomberg) -- After more than a year stuck on video calls, company executives are ready to hit the skies and meet customers face to face again, fueling airline industry optimism that business travel is poised to rebound despite the rise of Covid-era workarounds like Zoom. The lifting of travel restrictions will trigger a sharp rebound in corporate travel, executives from Qatar Airways, IAG (LON:ICAG) SA and Rwandair said Tuesday on a panel at the Qatar Economic Forum. Business-class occupancy on Qatar Airways flights is 10 percentage points higher than it was before the pandemic in markets...

22 June

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Williams Says Fed’s Rate Liftoff Is Still Way Off in the Future By Bloomberg

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(Bloomberg) -- A discussion about raising interest rates is still quite a ways away as the Federal Reserve begins debating tapering its bond-buying program, New York Fed President John Williams said. “That’s still way off in the future,” Williams said of rate hikes during a Bloomberg Television interview on Tuesday with Michael McKee and Jonathan Ferro. “Right now, really, I think the attention is on the taper.” The U.S. central bank’s policy-setting Federal Open Market Committee, on which Williams sits, is debating when it will be appropriate to begin scaling back the bond buying program it...

22 June

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There is no new inflation paradigm, ECB’s Lane says By Reuters

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FRANKFURT (Reuters) - Inflation in the euro zone will go up at a steady pace over the coming years but there is no risk of a new period of exceptionally high price growth, European Central Bank chief economist Philip Lane said on Tuesday. The broadest measure of unemployment is at around 15% and wage growth is weak so the current period of relatively high price growth will not turn into durable rise in prices, Lane said in an academic lecture. "It’s very difficult to have very strong wage inflation when the labour market is...

22 June

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U.S. Commerce Department rescinds TikTok, WeChat prohibited transactions list By Reuters

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By David Shepardson WASHINGTON (Reuters) - The U.S Commerce Department said Monday it was rescinding a list of prohibited transactions with TikTok and WeChat that were issued in September as the Trump administration sought to block new U.S. downloads of both Chinese-owned apps. The withdrawals came after President Joe Biden this month withdrew a series of Trump-era executive orders that sought to ban new downloads of Tencent-owned WeChat and TikTok, and ordered a Commerce Department review of security concerns posed by those apps and others. During Donald Trump's presidency, the Commerce Department had also sought to...

22 June

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Britain’s Senior Plc rejects Lone Star’s revised $1.2 billion take-private offer By Reuters

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(Reuters) -Aircraft and car parts supplier Senior Plc (LON:SNR) on Tuesday rejected a $1.2 billion buyout offer from U.S.-based Lone Star Global, saying the sweetened proposal made a day earlier "continues to fundamentally" undervalue the British company. The London-listed company has now rejected all the five proposals from the private-equity firm as undervaluing it, while maintaining it had enough resources to deliver on its strategy by itself. Senior said there was no basis to engage with Lone Star at present after the fund on Monday said its 200-pence-per-share final offer could be increased only if...

22 June

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Eni CEO says biorefinery business spin-off a possibility By Reuters

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LONDON (Reuters) - Italian energy group Eni may consider spinning off its biorefinery business and coupling it with retail operations as it is planning to do with its renewable assets, CEO Claudio Descalzi told Reuters on Tuesday. "It's really premature but it is a possible interesting deal for the future," Descalzi said in an interview at the Reuters Events: Global Energy Transition conference. ...

22 June

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Academic close to Kuroda calls for ‘flexible inflation target’ By Reuters

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By Kaori Kaneko and Tetsushi Kajimoto TOKYO (Reuters) - The Bank of Japan must make its inflation target more flexible so it can take into account not just price growth but also the output gap and job creation when deciding on monetary policy, an academic close to BOJ Governor Haruhiko Kuroda said. The BOJ has a traditional inflation target, meaning it focuses primarily on price stability when deciding on interest rates, in contrast to some other major central banks such as the Federal Reserve, which has adopted a dual mandate targeting inflation and employment. Takatoshi Ito...

22 June

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CrowdStrike Rises to Record on Stifel Upgrade By Investing.com

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By Christiana Sciaudone Investing.com -- Crowdstrike Holdings Inc (NASDAQ:CRWD) jumped more than 6% after Stifel upgraded shares and bumped the price target higher. Analyst Brad Reback upgraded shares to buy from hold with a price target of $300 from $240, StreetInsider reported. The company is just scratching the surface of its customer acquisition opportunity, Reback said. In the fiscal first quarter, the subscription customer count surpassed 10,000, up 82% from a year earlier, and the company can scale that to 50,000 to 100,000 over time, the analyst said. Shares are trading at...

22 June

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Exclusive-U.S. opens $500 million fund for relatives of Boeing 737 MAX victims By Reuters

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By David Shepardson WASHINGTON (Reuters) - A $500 million U.S. victim compensation fund for the relatives of 346 people killed in two fatal Boeing (NYSE:BA) 737 MAX crashes opened Monday, the claim administrators told Reuters. The fund is part of a settlement with the Justice Department. Boeing Co in January agreed to pay $500 million to compensate the heirs, relatives and beneficiaries of the passengers who died in Lion Air Flight 610 and Ethiopian Airlines Flight 302 in 2018 and 2019. Each eligible family will receive nearly $1.45 million and money will...

Меню

European shares propped up by commodities, Powell speech in focus By Reuters

Airlines Count on Zoom Fatigue to Drive Business Travel Revival By Bloomberg

Williams Says Fed’s Rate Liftoff Is Still Way Off in the Future By Bloomberg

There is no new inflation paradigm, ECB’s Lane says By Reuters

U.S. Commerce Department rescinds TikTok, WeChat prohibited transactions list By Reuters

Britain’s Senior Plc rejects Lone Star’s revised $1.2 billion take-private offer By Reuters

Eni CEO says biorefinery business spin-off a possibility By Reuters

Academic close to Kuroda calls for ‘flexible inflation target’ By Reuters

CrowdStrike Rises to Record on Stifel Upgrade By Investing.com

Exclusive-U.S. opens $500 million fund for relatives of Boeing 737 MAX victims By Reuters

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