16 April

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Asia shares look to China data as global economic recovery hopes underpin world shares By Reuters

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By Hideyuki Sano TOKYO (Reuters) - Asian shares were little changed on Friday ahead of a raft of Chinese economic data, while world stocks on the whole flew at a record level, fuelled by strong U.S. economic data that may herald a solid recovery ahead. MSCI's broadest index of Asia-Pacific shares outside Japan were little changed while Japan's Nikkei ticked up 0.2%. China will release a series of economic data later in the day, including its first-quarter GDP. MSCI's broadest gauge of world stocks stood flat after 0.89 percent gains the previous day to a...

16 April

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Bill Gates-Backed QuantumScape Accused of Fraud; Shares Tumble By Investing.com

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By Christiana Sciaudone Investing.com -- Bill Gates-backed QuantumScape is "a pump and dump SPAC scam by Silicon Valley celebrities that makes Theranos look like amateurs." That's according to Scorpion Capital. Quantumscape Corp (NYSE:QS), which makes lithium car batteries for vehicles, tumbled almost 13% after the short-seller published a scathing 188-page presentation accusing QuantumScape of all manners of fraud. "Our due diligence of QuantumScape’s six key technical claims leads us to conclude they lack credibility and exhibit Theranos-like red flags," according to the presentation. "Volkswagen (DE:VOWG_p) employees indicate that engineers and battery experts internally are highly skeptical...

16 April

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Dollar set for back-to-back weekly losses as Treasury yields retreat By Reuters

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By Kevin Buckland TOKYO (Reuters) - The dollar headed for its worst back-to-back weekly drop this year amid a continued retreat in Treasury yields from more-than-one-year highs as investors increasingly bought into the Federal Reserve's insistence of continued monetary support. The benchmark 10-year Treasury yield dipped to a one-month low of 1.528% overnight, from as high as 1.776% at the end of last month, even in the face of Thursday's stronger-than-expected retail sales and employment data. San Francisco Fed President Mary Daly said the same day that the U.S. economy is still far from making "substantial...

16 April

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Hershey Gains As Goldman Calls it a Buy By Investing.com

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By Dhirendra Tripathi Investing.com – Hershey (NYSE:HSY) shares rose 1.6% in trading Thursday, buoyed with a buy rating from Goldman Sachs. Goldman (NYSE:GS) analyst Jason English upgraded Hershey to buy and raised the target by $10, to $181. The new price forecast is about 12% higher than the stock’s current price. According to English, the performance in 2020 was not a one-off and the pandemic’s impact was “only a modest positive." He believes 2020 was the start of outsized growth that should last three years as the confection industry leverages its pricing power to expand profitability...

16 April

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Budweiser Owner Could Double in 2021; Barclays Upgrades By Investing.com

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By Christiana Sciaudone Investing.com -- Anheuser Busch Inbev SA NV (BR:ABI) jumped almost 4% after Barclays (LON:BARC) said shares could double this year. The firm upgraded the Budweiser maker to overweight from equal weight saying the company's margin potential is being underestimated, Seeking Alpha reported. "With high leverage and a depressed rating, in our opinion ABI is the only beverage stock under our coverage with a share price that could theoretically double during 2021," Barclays said. Anheuser-Busch shares are up about 45% over the past 12 months, and the company has...

16 April

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Tencent raises $4.15 billion in second major bond deal in a year By Reuters

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By Scott Murdoch HONG KONG (Reuters) - Chinese internet and social media giant Tencent Holdings Ltd (HK:0700) on Friday said it has raised $4.15 billion in its second major bond deal in less than a year. The company in a statement said it raised $500 million in a 10 year tranche, $900 million in 20 year debt, $1.75 billion in 30 year and $1 billion in 40 year debt. Pricing was set at 25 basis points to 35 basis points inside the initial price guidance delivered to potential investors when the deal was launched on Thursday....

16 April

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Slow vaccine rollouts biggest risk to euro zone economy, Reuters poll shows By Reuters

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By Richa Rebello BENGALURU (Reuters) - The euro zone economy will recover at a much weaker rate this quarter than expected only a month ago, according to a Reuters poll of economists who cited a slower vaccine rollout as the biggest risk over the next three months. Britain and the United States have successfully inoculated large swathes of their populations but the euro zone vaccine rollouts, already riddled with problems, have hit more trouble recently just as infection rates rise. While the April 12-15 Reuters survey showed the bloc was set to emerge from a double-dip...

16 April

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Dulux in doghouse after mocking Spurs in sponsorship announcement By Reuters

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LONDON (Reuters) - Paint-maker Dulux said they were "deeply sorry" for social media posts mocking Tottenham Hotspur after the Premier League club announced a new commercial sponsorship with them on Thursday. Tottenham's official website welcomed the British brand as the club's first official paint supplier alongside photos of the iconic shaggy English sheepdog used in Dulux advertisements being given a tour of the team's gleaming new stadium. But the gloss was rather taken off the new partnership when Dulux's Twitter feed showed posts in which Tottenham's lack of recent silverware was highlighted. Responding to one message...

16 April

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Daimler’s first-quarter earnings beat market expectations on prices, China By Reuters

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FRANKFURT (Reuters) - German cars and trucks maker Daimler saw a better-than-expected surge in first-quarter operating profit on higher vehicle prices and strong demand in China. Daimler, which this week unveiled an electric version of its flagship Mercedes-Benz S-Class sedan, said early on Friday that quarterly adjusted group earnings before interest and tax jumped to 5.0 billion euros ($6 billion) from 719 million a year earlier. That was above average analyst expectations of 4 billion euros, prompting it to release key figures ahead of schedule, it said. "Favourable sales momentum at Mercedes-Benz Cars driven by all...

16 April

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Analysis: India shifts from mass vaccine exporter to importer, worrying the world By Reuters

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By Krishna N. Das and Neha Arora NEW DELHI (Reuters) - After gifting and selling tens of millions of COVID-19 vaccine doses abroad, India suddenly finds itself short of shots as new infections surge in the world's second-most populous country. India breached 200,000 daily infections for the first time on Thursday, and is trying to inoculate more of its population using domestically produced shots. Facing soaring cases and overflowing hospitals after lockdown restrictions were eased, it also abruptly changed the rules to allow it to fast-track vaccine imports, having earlier rebuffed foreign drugmakers like ...

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Asia shares look to China data as global economic recovery hopes underpin world shares By Reuters

Bill Gates-Backed QuantumScape Accused of Fraud; Shares Tumble By Investing.com

Dollar set for back-to-back weekly losses as Treasury yields retreat By Reuters

Hershey Gains As Goldman Calls it a Buy By Investing.com

Budweiser Owner Could Double in 2021; Barclays Upgrades By Investing.com

Tencent raises $4.15 billion in second major bond deal in a year By Reuters

Slow vaccine rollouts biggest risk to euro zone economy, Reuters poll shows By Reuters

Dulux in doghouse after mocking Spurs in sponsorship announcement By Reuters

Daimler’s first-quarter earnings beat market expectations on prices, China By Reuters

Analysis: India shifts from mass vaccine exporter to importer, worrying the world By Reuters

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