22 June

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Nike Gets Mixed Analyst Reactions on China By Investing.com

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By Christiana Sciaudone Investing.com -- Nike (NYSE:NKE) got mixed news from analysts Tuesday. Stifel reiterated a buy rating and a $168 price target on the stock, while BTIG lowered the price target to $153 from $162 while maintaining a buy, StreetInsider reported. Shares were little changed. The company reports earnings on Thursday, and is expected to publish a profit of 51 cents per share on sales of $11.11 billion, according to data compiled by Investing.com. Stifel analyst Jim Duffy reaffirmed above-consensus sales and earnings targets for the quarter. "The business has capacity...

22 June

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Germany must confront China on human rights despite trade, says industry By Reuters

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BERLIN (Reuters) - Germany needs an honest discussion about how to deal with trading partners such as China and must not duck confrontation if red lines on human rights are crossed, the head of the influential BDI industry association said on Tuesday. China has become Germany’s most important trading partner and German exports there have helped mitigate the impact of the COVID-19 pandemic on Europe’s biggest economy. However, concerns about China's growing assertiveness and its human rights record have caused concern. In a speech at an industry event, BDI President Siegfried Russwurm said Europe and Western...

22 June

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UK names former Citi economist Mann to Bank of England’s MPC By Reuters

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LONDON (Reuters) -Britain's finance ministry said Catherine Mann, until recently the global chief economist at Citibank, will become the newest member of the Bank of England's Monetary Policy Committee, and that Jonathan Haskel had been reappointed. Mann's three-year stint on the nine-member panel - which sets interest rates and oversees the BoE's 895 billion-pound ($1.24 trillion) bond-buying programme - will begin on Sept. 1 to replace Gertjan Vlieghe who is stepping down after six years. "I am very happy to announce the appointment of Dr. Catherine L. Mann," British finance minister Rishi Sunak said. "Her breadth...

22 June

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Google in EU crosshairs again with advertising antitrust inquiry By Reuters

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By Foo Yun Chee BRUSSELS (Reuters) -Google was in the EU antitrust spotlight again on Tuesday as regulators opened an investigation into whether its digital advertising business gives the Alphabet (NASDAQ:GOOGL) unit an unfair advantage over rivals and advertisers. The European Union competition enforcer's move marks a new front against Google and follows more than 8 billion euros ($9.5 billion) in fines over the past decade for blocking rivals in online shopping, Android smartphones and online advertising. The European Commission said it would investigate whether Google distorts competition by restricting third party access to user...

22 June

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Volkswagen sticks to 2021 profit margin forecast despite chip crunch By Reuters

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BERLIN (Reuters) - A global chip shortage that is hitting carmakers will not impact Volkswagen (DE:VOWG_p)'s profit 2021 forecast, the company said on Tuesday, in response to a media report that the German carmaker expected a production drop due to the bottlenecks. Volkswagen still expects to achieve a 2021 operating profit margin of between 5.5% and 7% for the group and a margin of 3% to 4% for its main brand, a spokesperson for the company said. "Fortunately, been we have able to notably limit the negative impact on our customers and thus on delivery figures...

22 June

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GameStop raises more than $1 billion in latest share offer By Reuters

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(Reuters) -Videogame retailer GameStop Corp (NYSE:GME) said on Tuesday it had raised about $1.13 billion in its latest share offering, cashing in further on a social-media-driven surge in its stock price. The company, whose shares are up more than 960% this year, was the spark in January for a battle casting hedge fund short-sellers against a pack of small-time investors organizing online. It remains one of the hottest and most visible "meme stocks" and was up nearly 9% in premarket trading on Tuesday. The company, like others of the social-media hyped stocks that...

22 June

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Trust comes before EU access for City of London -EU finance chief By Reuters

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By Huw Jones LONDON (Reuters) - The European Union is not intent on stealing business from the City of London, but future access for Britain to the bloc's financial market will hinge on whether it can be trusted to keep its word, EU financial services chief Mairead McGuinness said on Tuesday. Trading arrangements for Northern Ireland since Britain left the EU have created tensions, with Britain unilaterally delaying the implementation of some provisions in a protocol. McGuinness, Ireland's commissioner in Brussels, said the EU was waiting to see which path Britain chose: sticking to obligations agreed...

22 June

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Exclusive-ECB policymakers at odds on inflation strategy, hope for Sept deal -sources By Reuters

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By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) - European Central Bank (ECB) policymakers are still some way apart on their new inflation strategy but hope to reach an agreement before debating the future of their pandemic-fighting programme in September, sources told Reuters. ECB rate setters agreed on some side issues at a retreat last weekend, such as including environmental considerations into their policy decisions and adding owner-occupied housing costs to their measure of inflation, the three sources close to the matter said. But there were still some differences when it came to the core of...

22 June

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G20 to endorse deal on global minimum corporate tax -draft By Reuters

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By Jan Strupczewski BRUSSELS (Reuters) -The world's financial leaders will endorse on July 9-10 a deal setting a global minimum corporate tax and call for technical work to be finished so they can approve the framework for implementation in October, their draft communique showed. "After many years of discussions and building on the progress made last year, we have achieved an historical agreement on a new, fair and stable international tax architecture," the draft said. It made no mention of a specific rate for a global minimum corporate tax nor other key details, which remain to...

22 June

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Losing 1 million euros a day, Aer Lingus sees no big summer bounce By Reuters

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By Padraic Halpin DUBLIN (Reuters) - Aer Lingus is losing more than 1 million euros ($1.19 million) a day and does not expect the Irish government's plan to ease travel restrictions next month will give it a significant near term bounce, its new chief executive said on Tuesday. Ireland now has the strictest travel curbs in the European Union but will adopt the EU's COVID-19 certificate to help citizens to move more freely across the bloc from July 19. It will broadly apply the same approach to the key markets of Britain and the United States....

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Nike Gets Mixed Analyst Reactions on China By Investing.com

Germany must confront China on human rights despite trade, says industry By Reuters

UK names former Citi economist Mann to Bank of England’s MPC By Reuters

Google in EU crosshairs again with advertising antitrust inquiry By Reuters

Volkswagen sticks to 2021 profit margin forecast despite chip crunch By Reuters

GameStop raises more than $1 billion in latest share offer By Reuters

Trust comes before EU access for City of London -EU finance chief By Reuters

Exclusive-ECB policymakers at odds on inflation strategy, hope for Sept deal -sources By Reuters

G20 to endorse deal on global minimum corporate tax -draft By Reuters

Losing 1 million euros a day, Aer Lingus sees no big summer bounce By Reuters

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