11 June

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Ferrari flaunts its latest models on the catwalk By Reuters

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By Giulio Piovaccari and Giulia Segreti MARANELLO, Italy (Reuters) - Talk about fast fashion. Ferrari (NYSE:RACE) is racing through the gears to bring its Prancing Horse brand to the catwalk and fine dining in an attempt to woo wealthy customers beyond its faithful fans. The Italian company renowned for its Formula One racing team and high-powered sports cars adorned with the Cavallino Rampante logo is launching a fashion collection on Sunday and reopening a restaurant in its hometown of Maranello two days later. The clothing line comes from creative director and former Armani designer...

11 June

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‘Extraordinary times, extraordinary measures’: U.S. approach to vanquish pandemic By Reuters

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By Andrea Shalal WASHINGTON (Reuters) - The United States will continue to press for a waiver of intellectual property rights for COVID-19 vaccines and treatments even as it and other Group of Seven rich nations sharply expand donations of vaccines to poorer countries. U.S. Trade Representative Katherine Tai said on Thursday the Biden administration was working on multiple fronts to end the pandemic. "Extraordinary circumstances call for extraordinary measures," Tai told a virtual town hall for union members hosted by the AFL-CIO trade federation. That effort included donations of 80 million vaccine doses by the end...

11 June

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Dollar marooned as investors shrug off inflation spike By Reuters

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By Tom Westbrook SINGAPORE (Reuters) - After a week of anxious waiting, markets got the high U.S. inflation number they dreaded, shrugged it off and moved on - leaving the U.S. dollar under pressure and most majors stuck in ranges. Early in the Asia session the greenback nursed small losses, as traders figured there were enough one-offs in last month's 0.6% rise in consumer prices to support the Federal Reserve's insistence that inflation was likely to be transitory. The dollar bought 109.37 yen and was headed for a small weekly loss. It was also on track...

11 June

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Asia extends global stocks rally, U.S. bond yields fall on easing inflation fears By Reuters

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By Andrew Galbraith SHANGHAI (Reuters) - U.S. bond yields fell to three month lows and a broad gauge of Asian shares rose on Friday as investors saw enough one-off factors in U.S. consumer price data to back the Federal Reserve's conviction that rising inflation will be transitory. Some economists say the rise in CPI reflected short-term adjustments related to a reopening economy, and many investors appear to be confident that the Fed is deftly handling a rebound in economic growth - even as questions remain about how it defines "transitory". Data overnight showed U.S. consumer price...

11 June

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Archer’s flying taxi makes splashy debut in heated market By Reuters

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By Omar Younis and Tracy Rucinski LOS ANGELES (Reuters) - Archer Aviation unveiled its first electric flying taxi "Maker" in a Tesla-style debut on Thursday as an increasing number of investors and aviation companies pile into the hot but yet-to-be-approved urban air mobility space. Interest in zero-emission aircraft that take off and land like helicopters but fly like planes is growing as aerospace companies look for new markets and face pressure to help decarbonize their industry though the battery-operated vehicles. Maker's debut, staged at a hangar using XR technology to simulate a ride, followed news...

11 June

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Japan minister says he never asked adviser to contact Toshiba shareholders By Reuters

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TOKYO (Reuters) - Japan's trade minister on Friday said he never directed an adviser to contact Toshiba Corp shareholders after a report accused his ministry of colluding with company executives to pressure stockholders to fall in line with its management plans. The Ministry of Economy, Trade and Industry (METI) is waiting for Toshiba to respond to the report from independent investigators, Hiroshi Kajiyama said at a regular press briefing. The report says Toshiba's management asked METI to help counter activist overseas stock owners at its annual general meeting last July. The shareholder-commissioned report released on...

11 June

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SoftBank’s PayPay surges ahead in Japan’s digital payments race By Reuters

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By Sam Nussey TOKYO (Reuters) - For six decades, shoppers at Mikawaya, a rice dealer in eastern Tokyo, paid in cash - until sales staff from payments app PayPay swept through the low-lying district, persuading the store to give their product a try. With customers clamouring to use the service and nearby stores signing up, PayPay's offer of free installation and no handling fees was too good to refuse, the store's owners say. "We thought there could be no harm in trying it out," said Moeko Suzuki, who helps her father run the store,...

11 June

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Fed to announce QE taper in Aug or Sept on rising inflation concerns: Reuters poll By Reuters

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By Indradip Ghosh BENGALURU (Reuters) - The Federal Reserve is likely to announce in August or September a strategy for reducing its massive bond buying program, but won't start cutting monthly purchases until early next year, a Reuters poll of economists found. A significant number of Fed watchers also said the central bank would wait until later in the year before announcing a taper, now the main focus for markets fretting over rising inflation as an end to the pandemic in the United States is in sight. Booming demand with the U.S. economy reopening is...

11 June

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Biden: U.S. to purchase half a billion vaccine doses for lower income countries By Reuters

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CARBIS BAY, England (Reuters) - The United States will purchase half a billion COVID-19 vaccine doses for lower income countries with no strings attached, U.S. President Joe Biden said on Thursday. "Half a billion vaccines will start to be shipped in August, as quickly as they roll off the manufacturing line," Biden said at a news conference before the G7 summit in Britain. "The United States is providing these half billion doses, with no strings attached. No strings attached. Our vaccine donations don't include pressure for favours, or potential concessions. We're doing this to...

11 June

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P&G says commodity, freight costs to bite this fiscal year By Reuters

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(Corrects first paragraph and headline to remove reference to costs being higher than prior expectations) (Reuters) -Procter & Gamble Co's freight and commodity costs have amounted to around $600 million after tax so far this fiscal year, its chief financial officer said at a conference on Thursday. The company had previously said it expected more than $200 million in freight costs and about $125 million in commodity costs after tax for the fiscal year ended May 2021. ...

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News

Ferrari flaunts its latest models on the catwalk By Reuters

‘Extraordinary times, extraordinary measures’: U.S. approach to vanquish pandemic By Reuters

Dollar marooned as investors shrug off inflation spike By Reuters

Asia extends global stocks rally, U.S. bond yields fall on easing inflation fears By Reuters

Archer’s flying taxi makes splashy debut in heated market By Reuters

Japan minister says he never asked adviser to contact Toshiba shareholders By Reuters

SoftBank’s PayPay surges ahead in Japan’s digital payments race By Reuters

Fed to announce QE taper in Aug or Sept on rising inflation concerns: Reuters poll By Reuters

Biden: U.S. to purchase half a billion vaccine doses for lower income countries By Reuters

P&G says commodity, freight costs to bite this fiscal year By Reuters

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