16 July

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UK-based Segro to sell six Italian warehouses to cash in on ecommerce boom By Reuters

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(Reuters) -Britain's Segro Plc (LON:SGRO) said on Friday it was selling six warehouses in Italy for 127.5 million euros ($150.5 million), capitalizing off a pandemic-led boom in e-commerce sales that saw huge volumes of shipments across the world. The FTSE 100-listed warehousing specialist said it was able to secure property prices much higher than December, adding that it would invest the proceeds from the sale in other parts of its Italian business. Warehousing specialists globally have benefited from massive shipments of products bought online during the pandemic, outperforming other commercial real estate companies, as...

16 July

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Renault vehicle sales start closing gap with 2019, Dacia shines By Reuters

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PARIS (Reuters) - French carmaker Renault (PA:RENA) on Friday reported a 18.7% increase in first-half vehicle sales though remained below pre-COVID-19 crisis levels. The group like global peers is pushing into electric vehicles under Chief Executive Luca de Meo while trimming costs, including by focusing on fewer but more profitable ranges. It said this strategy was starting to bear fruit amid a recovery in demand, although its latest figures reflect sales by volume only. "In an environment still disrupted by the COVID-19 pandemic, Renault Group sold 1,422,600 vehicles in the first...

16 July

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Dollar on course for weekly gain; kiwi leaps with inflation By Reuters

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By Tom Westbrook SINGAPORE (Reuters) - The dollar headed on Friday for its best weekly gain in about a month, supported by buying on investor worries about quicker U.S. interest rate increases and by rising virus infections, while a hot inflation reading lifted the New Zealand dollar. The kiwi was the biggest mover amongst majors in morning trade, and was last up 0.4% at $0.7003, after consumer prices rose far faster than expected at a decade-high pace of 1.3% for the June quarter and 3.3% for the year. The reading has brought forward rate hike expectations...

16 July

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BOJ cuts growth forecast, unveils outline of climate scheme By Reuters

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By Leika Kihara and Daniel Leussink TOKYO (Reuters) -The Bank of Japan cut this fiscal year's growth forecast on Friday but maintained its view the economy was headed for a moderate recovery, a sign monetary policy will be in a holding pattern for some time. The BOJ also released an outline of its new scheme aimed at boosting funding for activities combating climate change, which will offer banks long-term loans at zero interest. The climate scheme will be launched this year and last until fiscal 2030. The BOJ will offer funds to banks that extend green...

16 July

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Exclusive – Japan beefs up diplomatic efforts on regulating digital currency: sources By Reuters

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By Leika Kihara and Takaya Yamaguchi TOKYO (Reuters) - Japan is beefing up its diplomatic efforts to regulate digital currencies globally, three officials told Reuters, a sign of the government's growing alarm that a proliferation of new forms of private money could upend the financial system. Tokyo is playing catch-up in a global debate among financial regulators about setting stricter rules on private digital currencies. Regulators from the Group of Seven industrial powers and the Group of 20 big economies have called for greater regulation of "stablecoins" - a form of cryptocurrency typically pegged to...

16 July

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Ray-Ban maker Luxottica accused of anti-union behaviour at U.S. Georgia plant By Reuters

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By Claudia Cristoferi, Silvia Aloisi and Richa Naidu MILAN (Reuters) - U.S. and international unions have accused Ray-Ban maker Luxottica, the Italian arm of eyewear giant EssilorLuxottica, of violating workers' right to unionise at a U.S. plant in Georgia and asked the Italian, French and U.S. governments to mediate. In a statement sent to Reuters, the Communications Workers of America (CWA), together with the AFL-CIO and two other workers' groups, alleged that managers of the Luxottica plant in McDonough, near Atlanta, Georgia, unleashed an "aggressive and fear-inducing" campaign to discourage its 2,000 employees from seeking union...

16 July

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FAA orders checks on 9,300 Boeing 737 planes for possible switch failures By Reuters

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By David Shepardson WASHINGTON (Reuters) -The Federal Aviation Administration (FAA) on Thursday issued a directive to operators of all Boeing (NYSE:BA) Co 737 series airplanes to conduct inspections to address possible failures of cabin altitude pressure switches. The directive requires operators to conduct repetitive tests of the switches and replace them if needed. The directive covers 2,502 U.S.-registered airplanes and 9,315 airplanes worldwide. It was prompted after an operator reported in September that both pressure switches failed the on-wing functional test on three different 737 models. The FAA said failure of the switches could result in...

16 July

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Covid Test Firm Climbs Near $6 Billion Value in Seoul Debut By Bloomberg

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(Bloomberg) -- A South Korean biotech firm that saw sales surge to $1 billion in the first quarter on strong demand for Covid-19 testing jumped in its trading debut, pushing its market value toward $6 billion. SD Biosensor Inc. surged as much as 28% to 66,700 won in early trading in Seoul on Friday, before paring its gain to 20% as of 9:45 a.m. The company raised 776.4 billion won at a 5.4 trillion won ($4.7 billion) valuation in an offering that was more than 1,000 times oversubscribed. The double-digit gain still leaves the stock...

16 July

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U.S. weekly jobless claims at 16-month low; shortages hamper manufacturing By Reuters

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By Lucia Mutikani WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell to a 16-month low last week as the labor market gains traction, but worker shortages and bottlenecks in the supply chain are frustrating efforts by businesses to ramp up production to meet strong demand for goods and services. Manufacturing production fell in June, with motor vehicle assembly tumbling amid a relentless global shortage of semiconductor chips, other data showed on Thursday. The imbalance between supply and demand as the economy emerges from the COVID-19 pandemic is stoking inflation, with...

16 July

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Powell Says Fed Likely to Require Banks to Test for Climate Risk By Bloomberg

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(Bloomberg) -- The Federal Reserve will probably end up requiring banks to conduct tests to judge their vulnerability to the effects of climate change, Chairman Jerome Powell suggested on Thursday. “My guess is that’s a direction we’ll go in but we’re not ready to do yet,” he told the Senate Banking Committee. Some European central banks are already running climate stress scenario exercises for their banks to undergo. They are designed to ascertain the banks’ readiness and resiliency to extreme weather events and other long-term effects of a warming climate. Powell said the European tests...

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UK-based Segro to sell six Italian warehouses to cash in on ecommerce boom By Reuters

Renault vehicle sales start closing gap with 2019, Dacia shines By Reuters

Dollar on course for weekly gain; kiwi leaps with inflation By Reuters

BOJ cuts growth forecast, unveils outline of climate scheme By Reuters

Exclusive – Japan beefs up diplomatic efforts on regulating digital currency: sources By Reuters

Ray-Ban maker Luxottica accused of anti-union behaviour at U.S. Georgia plant By Reuters

FAA orders checks on 9,300 Boeing 737 planes for possible switch failures By Reuters

Covid Test Firm Climbs Near $6 Billion Value in Seoul Debut By Bloomberg

U.S. weekly jobless claims at 16-month low; shortages hamper manufacturing By Reuters

Powell Says Fed Likely to Require Banks to Test for Climate Risk By Bloomberg

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