27 April

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Gucci, Facebook file joint lawsuit against alleged counterfeiter By Reuters

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MILAN (Reuters) - Gucci and Facebook (NASDAQ:FB) have filed a joint lawsuit in California against an individual who allegedly used the U.S. group's social media platforms to sell fake Gucci products, the two companies said on Tuesday. The initiative, a first of its kind for both Gucci and Facebook, is the latest example of an Internet giant joining forces with a luxury label to fight the proliferation of counterfeit goods being sold via social media. Amazon (NASDAQ:AMZN) has filed similar lawsuits over the past year with Valentino and Ferragamo. In a statement, Gucci - the...

27 April

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UBS Q1 profit up 14% as Switzerland’s No. 1 bank unveils Archegos charge By Reuters

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By Brenna Hughes Neghaiwi ZURICH (Reuters) - UBS on Tuesday posted a 14% rise in first quarter net profit, as the world's largest wealth manager unveiled a $774 million revenue hit from the default of U.S. investment firm Archegos which took the shine off record high client activity levels. First-quarter net profit of $1.824 billion overshot median expectations for $1.591 billion in a poll of 20 analysts compiled by the bank. The bank posted better than expected pre-tax profit for the first three months of 2021, as surprise increases over the frenzied trading and bumper results...

27 April

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Goldman’s digital hedge-fund matchmaking push boosted by lockdowns By Reuters

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By Maiya Keidan (Reuters) - Goldman Sachs' long-planned online migration of some lucrative prime-brokerage businesses picked up steam during the pandemic as hedge funds and investors working from home were unable to meet in person, while other Wall Street banks are taking more measured steps. Last July, Goldman Sachs Group Inc (NYSE:GS) launched Marquee Connect, offering online virtual introduction services for top clients. Other prime brokers told Reuters they were also moving to bring some prime broker services online, but one cautioned that clients may be getting "Zoom fatigue" with hopes to resume meeting...

27 April

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Dollar near multi-week lows before Fed, bitcoin reclaims $54,000 By Reuters

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By Kevin Buckland TOKYO (Reuters) - The dollar hovered near multi-week lows versus major peers on Tuesday, weighed by subdued Treasury yields, as investors consolidated positions ahead of the Federal Reserve's policy decision this week. The safe-haven greenback was also out of favour after world stocks started the week hitting a record high, amid increasing investor confidence in a rapid global recovery from the pandemic. In cryptocurrencies, bitcoin traded around $54,000 following a 10% surge on Monday, driven by reports that JPMorgan Chase (NYSE:JPM) is planning to offer a managed bitcoin fund. That snapped a five-day...

27 April

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China’s industrial profits rise in March on high demand for raw materials By Reuters

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BEIJING (Reuters) -Profits at China's industrial firms grew sharply in March from a low base a year ago, as demand for raw materials surged along with the economic recovery, but the pace of growth slowed, official data showed on Tuesday. Profits rose to 711.18 billion yuan ($109.66 billion) in March, up 92.3% from a year ago, when the economy was hard hit by the COVID-19 crisis, data from the National Bureau of Statistics (NBS) showed. The pace of growth slowed from the first two months of the year. Profits grew 179% in January-February compared with...

27 April

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Coursera Up After Analysts Pile on the Buy Ratings By Investing.com

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By Christiana Sciaudone Investing.com -- Coursera got a nice boost from analysts who initiated the online class provider at a buy rating. Shares are up 3% after most firms rated it highly. Coursera went public at the end of last month, and shares have dropped some 15% since hitting a high in early April. Coursera provides online learning and aims to give universal access to top quality education. It has about 77 million registered learners and offers a variety of courses and certificates at various price points. Morgan Stanley (NYSE:MS) and Needham...

27 April

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Asian shares wobble ahead of Fed outcome and earnings By Reuters

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By Stanley White TOKYO (Reuters) - Asian shares fell and U.S. stock futures were steady on Tuesday as caution ahead of a U.S. Federal Reserve meeting and a slew of corporate earnings offset growing optimism about the global economic recovery from the COVID-19 blow. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.14%. Australian stocks dropped 0.51%, but shares in China were little changed. Stocks in Tokyo edged 0.11% lower. S&P 500 e-mini stock futures rose 0.07%. Oil rebounded in Asian trading after major oil producers stood by their demand forecasts, but there are still...

27 April

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Japan’s defense ministry to open mass vaccination centre in Tokyo By Reuters

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TOKYO (Reuters) - Japan will open a mass vaccination centre in central Tokyo next month, officials said on Tuesday, part of the country's bid to speed up its COVID-19 inoculation campaign as the Olympic Games looms. No decision has been made on which vaccine will be used or how many people will get shots each day, Chief Cabinet Secretary Katsunobu Kato told reporters. "We will announce the details once the defence ministry and local authorities have come up with a plan," Kato said. The government will also support innoculation efforts in Osaka, in western Japan,...

27 April

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Albertsons Slips After Reporting Loss As Sales Near Stagnant But Expenses Rose By Investing.com

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By Dhirendra Tripathi Investing.com – Albertsons (NYSE:ACI) shares fell more than 5% Monday after the company reported numbers that showed its performance deteriorated in the fourth quarter ending February 27. The company slipped into the red while sales barely moved but selling and administrative expenses rose. The Boise, Idaho-based grocer reported a net loss of $144.2 million in the quarter, compared to a net income of $67.8 million in the same period a year ago. Net sales rose just over 2%, to $15.77 billion, but selling and administrative expenses incurred for them were higher by more...

27 April

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Oil Holds Drop Near $62 With Virus Flare-Up Looming Over Market By Bloomberg

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(Bloomberg) -- Oil was steady in early Asian trading with a Covid-19 flare-up in India and other nations dragging on the near-term demand outlook, even as OPEC+ projected a strong global recovery this year. Futures in New York traded near $62 a barrel after slipping 0.4% on Monday. An OPEC+ technical committee raised its forecast for demand growth in 2021, but cautioned that a resurgent virus in India, Japan and Brazil could derail the oil demand recovery. The second Indian wave has been particularly deadly as it overwhelms the health-care system and cripples fuel consumption. Indian...

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Gucci, Facebook file joint lawsuit against alleged counterfeiter By Reuters

UBS Q1 profit up 14% as Switzerland’s No. 1 bank unveils Archegos charge By Reuters

Goldman’s digital hedge-fund matchmaking push boosted by lockdowns By Reuters

Dollar near multi-week lows before Fed, bitcoin reclaims $54,000 By Reuters

China’s industrial profits rise in March on high demand for raw materials By Reuters

Coursera Up After Analysts Pile on the Buy Ratings By Investing.com

Asian shares wobble ahead of Fed outcome and earnings By Reuters

Japan’s defense ministry to open mass vaccination centre in Tokyo By Reuters

Albertsons Slips After Reporting Loss As Sales Near Stagnant But Expenses Rose By Investing.com

Oil Holds Drop Near $62 With Virus Flare-Up Looming Over Market By Bloomberg

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