25 June

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Nike Earnings, Revenue beat in Q4 By Investing.com

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Nike (NYSE:NKE) reported on Thursday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations. Nike announced earnings per share of $0.93 on revenue of $12.34B. Analysts polled by Investing.com anticipated EPS of $0.5099 on revenue of $11.11B. Nike shares are down 5% from the beginning of the year and are trading at $137.73 , down-from-52-week-high.They are under-performing the S&P 500 which is up 13.59% from the start of the year. Nike shares gained 3.09% in after-hours trade the report. Nike follows other major Consumer Discretionary sector earnings this month...

25 June

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S&P 500, Nasdaq Boast Record Close as Biden Unveils Infrastructure Deal By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 and Nasdaq closed at record highs riding a wave of economic optimism as President Joe Biden announced a nearly $600 billion infrastructure pact, the fate of which depends on the success of a much larger package that has drawn strong opposition from Republicans. The S&P 500 rose 0.6% to record intraday high of 4,266.50 and the Dow Jones Industrial Average jumped 1%, or 322 points, while the Nasdaq climbed 0.7% having hit an all-time high of 14,369.71 intraday. “We have a deal,” Biden told reporters Thursday. “I think...

25 June

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Mercedes-Benz USA accidentally puts out data from nearly 1,000 customers By Reuters

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(Reuters) - Mercedes-Benz USA said on Thursday sensitive personal information of nearly 1,000 customers and interested buyers was inadvertently made accessible on a cloud storage platform. No Mercedes-Benz system was compromised and no files were maliciously misused, the company added. The data accidentally made accessible comprised self-reported credit scores, driver license and social security numbers and credit card information which was entered by customers and interested buyers on dealer and company websites between January 2014 and June 2017. Mercedes said any individual who had credit card information, a driver's license number or a social security...

24 June

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‘We have a deal:’ Biden OK’s $1.2 trillion infrastructure plan By Reuters

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By David Morgan and Richard Cowan WASHINGTON (Reuters) - U.S. President Joe Biden on Thursday embraced a $1.2 trillion bipartisan Senate deal to renew the nation's roads, bridges and highways and help stimulate the economy -- a major breakthrough on one of his key domestic policy goals. "We have a deal," Biden told reporters, flanked by Democratic and Republican senators who wrote the infrastructure proposal that followed months of White House negotiations with lawmakers. Its $579 billion in new spending includes major investments in the nation's power grid, broadband internet services and passenger and freight...

24 June

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FedEx profit leaps on e-commerce strength By Reuters

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LOS ANGELES (Reuters) - U.S. delivery firm FedEx Corp (NYSE:FDX) on Thursday reported quarterly profit that doubled after pandemic-fueled demand for e-commerce services supported higher fees and robust volumes contributed to cost savings. Fiscal fourth quarter adjusted net income at FedEx rose to $1.36 billion, or $5.01 per share, from $663 million, or $2.53 per share, a year earlier. Revenue increased 30% to $22.6 billion. ...

24 June

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Nike revenue beats on upbeat North America demand By Reuters

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(Reuters) - Nike Inc (NYSE:NKE) quarterly revenue beat Wall Street estimates, as Americans stepping out of the pandemic-led lockdowns splurged on footwear and apparel, sending its shares 4% higher. After staying at home for more than a year and limiting themselves to athleisure clothing and comfortable pajamas, consumers are back to buying sneakers for running and hiking as they return to their routines, thanks to rapid vaccinations. In North America, Nike's biggest market, revenue more than doubled to $5.38 billion and beat the average analysts' estimate of $4.31 billion. In Greater China,...

24 June

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EU leaders to commit to finishing banking union … one day By Reuters

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By Jan Strupczewski and Francesco Guarascio BRUSSELS (Reuters) - European leaders will promise on Friday to complete the EU's banking union in the future, but will leave it to their finance ministers to work out when, their draft conclusions showed. Completion of the banking union, which would mean setting up a controversial common deposit insurance scheme, would sharply reduce the possibility of a major banking crisis in the 19 countries sharing the euro and in this way boost market confidence in the euro and demand for the currency. But the issue is highly sensitive in several...

24 June

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ECB’s Schnabel Warns Governments Not to End Crisis Support Early By Bloomberg

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(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. European Central Bank Executive Board member Isabel Schnabel pledged that she and her colleagues will do everything needed to sustain the economic recovery, and warned governments not to undermine that by tightening fiscal policy too soon. “The worst thing that can happen is that the support is ended prematurely. I can assure you that on the monetary-policy side, we’ll do everything to avoid that,” Schnabel said in an online event on Thursday. “Maybe we should be worried more about fiscal policy,”...

24 June

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Biden Trade Picks Pledge Work With Allies to Compete With China By Bloomberg

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(Bloomberg) -- President Joe Biden’s picks to be deputies to the U.S. Trade Representative pledged to work with American allies to compete with China and to find solutions to longstanding disputes with Canada over lumber. With China, “We have to be strong, and we have to get our other allies in the region as well to be supportive,” Sarah Bianchi, who would oversee the agency’s China, Africa and competitiveness portfolios, said at a Senate Finance subcommittee hearing on her nomination on Thursday. “In terms of our competition with China, it’s important to be in the...

24 June

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Pfizer says COVID vaccine is highly effective against Delta variant By Reuters

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By Maayan Lubell JERUSALEM (Reuters) - The Pfizer-BioNTech ‮>‬PFE.N‮...

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News

Nike Earnings, Revenue beat in Q4 By Investing.com

S&P 500, Nasdaq Boast Record Close as Biden Unveils Infrastructure Deal By Investing.com

Mercedes-Benz USA accidentally puts out data from nearly 1,000 customers By Reuters

‘We have a deal:’ Biden OK’s $1.2 trillion infrastructure plan By Reuters

FedEx profit leaps on e-commerce strength By Reuters

Nike revenue beats on upbeat North America demand By Reuters

EU leaders to commit to finishing banking union … one day By Reuters

ECB’s Schnabel Warns Governments Not to End Crisis Support Early By Bloomberg

Biden Trade Picks Pledge Work With Allies to Compete With China By Bloomberg

Pfizer says COVID vaccine is highly effective against Delta variant By Reuters

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