22 June

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UK government borrowing falls as recovery helps tax take By Reuters

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LONDON (Reuters) - British public borrowing fell in May from sky-high levels of a year earlier when the government was ramping up a huge spending response to the coronavirus crisis, and there are signs that the recent recovery in the economy was boosting tax revenues. Borrowing excluding public sector banks totalled 24.3 billion pounds ($33.8 billion) in May, down from 43.8 billion pounds in the same month in 2020, the Office for National Statistics said. Economists polled by Reuters had on average expected a shortfall of 26.0 billion pounds. The May figure took the deficit for...

22 June

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Aston Martin sues Swiss dealer over Valkyrie sports car By Reuters

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(Reuters) - Carmaker Aston Martin said on Tuesday it was suing Nebula Project AG and its board members, claiming that the Swiss car dealer had failed to pay some customer deposits for orders of its Valkyrie sports car. The London-listed company has also terminated its commercial agreement with the dealer, adding that going forward it will ensure that all deposits for special vehicles are received directly by Aston Martin and not through a third party. "Both Aston Martin and its customers have been impacted by Nebula Project AG's and its board members' behaviour," Aston Martin...

22 June

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GKN-owner Melrose to return $1 billion to shareholders By Reuters

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(Reuters) - Britain's Melrose Industries said on Tuesday it has plans to return about 730 million pounds ($1.01 billion) in cash to its shareholders after the owner of GKN (LON:GKN) sold its Nortek Air Management business. ($1 = 0.7194 pounds) ...

22 June

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DS Smith sees recovery after profit slump on initial pandemic impact By Reuters

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(Reuters) - British cardboard maker DS Smith reported on Tuesday a 38% slump in annual pre-tax profit, as the pandemic impacted its operations initially, but said online shopping boom during the rest of the financial year aided recovery in sales. DS Smith, which supplies packaging products to companies including Amazon (NASDAQ:AMZN), Nestle, and Unilever (LON:ULVR), said statutory profit before tax fell to 231 million pounds ($321.04 million) for the full year ended April 30, 2021, compared with 368 million pounds a year earlier. ($1 = 0.7195 pounds) ...

22 June

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Boeing’s chief lobbyist Keating leaves company, no reason given By Reuters

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By Eric M. Johnson, David Shepardson and Andrea Shalal SEATTLE/WASHINGTON (Reuters) - Boeing (NYSE:BA) Co's veteran lobbyist and political strategist, Tim Keating, who helped steer the U.S. planemaker through its worst-ever crisis following fatal 737 MAX crashes, has left the company, it said on Monday. An internal memo from Chief Executive Dave Calhoun to government operations employees, and a separate statement to media, confirmed Keating's departure and the search for a permanent replacement, but offered no explanation or further details for what appeared to be an abrupt exit. Marc Allen, Boeing's chief strategy officer, would also...

22 June

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SpaceX’s Starlink expects it can provide global coverage around September By Reuters

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By Paulina Duran SYDNEY (Reuters) - Starlink, the satellite internet unit of Elon Musk's SpaceX, expects to be able to provide continuous global coverage by around September but will then need to seek regulatory approvals, its president Gwynne Shotwel said on Tuesday. "We've successfully deployed 1,800 or so satellites and once all those satellites reach their operational orbit, we will have continuous global coverage, so that should be like September timeframe," she told a Macquarie Group technology conference via webcast. "But then we have regulatory work to go into every country and get approved to provide...

22 June

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London-based hedge fund that bet against GameStop shuts down – FT By Reuters

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(Reuters) - A London-based hedge fund that suffered losses betting against U.S. retailer GameStop Corp (NYSE:GME) during the first meme stock rally in January is shutting down, the Financial Times reported on Tuesday. White Square (NYSE:SQ) Capital has told investors that it will shut its main fund and return capital this month after a review of its business model, the newspaper said, citing people familiar with the fund and a letter to investors. White Square suffered double-digit percent losses in January, the report added https://on.ft.com/3gIEJJR. The firm did not respond to a Reuters...

22 June

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Stocks bounce from four-week lows, dollar pulls back By Reuters

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By Anshuman Daga SINGAPORE (Reuters) - Global shares extended their recovery on Tuesday, with Asian markets bouncing from four-weeks lows as investor focus on economic growth partly offset worries about any near-term rise in U.S. interest rates. The early momentum in the region was supported by a rally on Wall Street, with the Dow registering its strongest session in more than three months. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.35%, moving above Monday's four-week lows and notching a 4% gain so far this year. Japanese shares led the way, with the Nikkei...

22 June

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Bitcoin steadies in Asia trading after Monday’s plunge By Reuters

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HONG KONG (Reuters) - Bitcoin stabilised in Asian trading on Tuesday morning a day after a statement from China's central bank reaffirming the ongoing crackdown on cryptocurrencies in the country sent the world's largest token to a two-week low. Bitcoin was last up 3.17% at 32,600, having dropped more than 10% on Monday. Ether, the second-biggest crypto currency, was up 3.54% at 1,950 after hitting a five-week low the day before. Monday's sell-off was sparked by an announcement from the Peoples Bank of China saying it had summoned China's largest banks and payment firms...

22 June

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Criticism of Apple Daily raid is attempt to ‘beautify’ security threats-HK leader By Reuters

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By Sara Cheng and Clare Jim HONG KONG (Reuters) -Hong Kong leader Carrie Lam hit back on Tuesday against criticism of authorities' actions against pro-democracy tabloid Apple (NASDAQ:AAPL) Daily as attempts to "beautify" acts that endangered national security. Hundreds of police raided the newspaper last week as part of a national security probe in which senior Apple Daily executives were arrested over allegations of "collusion with a foreign country" and HK$18 million ($2.3 million) in assets frozen. Police have said dozens of Apple Daily articles may have violated the security law, the first instance of authorities...

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News

UK government borrowing falls as recovery helps tax take By Reuters

Aston Martin sues Swiss dealer over Valkyrie sports car By Reuters

GKN-owner Melrose to return $1 billion to shareholders By Reuters

DS Smith sees recovery after profit slump on initial pandemic impact By Reuters

Boeing’s chief lobbyist Keating leaves company, no reason given By Reuters

SpaceX’s Starlink expects it can provide global coverage around September By Reuters

London-based hedge fund that bet against GameStop shuts down – FT By Reuters

Stocks bounce from four-week lows, dollar pulls back By Reuters

Bitcoin steadies in Asia trading after Monday’s plunge By Reuters

Criticism of Apple Daily raid is attempt to ‘beautify’ security threats-HK leader By Reuters

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