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08 June
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Japan upgrades first-quarter GDP on smaller hit to domestic demand By Reuters

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By Daniel Leussink TOKYO (Reuters) - Japan's economy shrank at a slower-than-initially reported pace in the first quarter, on smaller cuts to plant and equipment spending, but the coronavirus pandemic still dealt a huge blow to overall demand. The slower contraction provides a relief for policymakers hoping Japan's economic recovery will not lag those of other major economies, which have rolled out COVID-19 vaccines much quicker to bring the health crisis to an end. The revised decline was mainly due to a smaller fall in public and capital spending, which both eased less than initially thought...

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08 June
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Ahead of Apple’s developer conference, Facebook says it won’t charge creators until 2023 By Reuters

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(Reuters) - Facebook Inc (NASDAQ:FB) will not charge a fee to content creators for at least the next two years, Chief Executive Mark Zuckerberg said on Monday, moments before Apple Inc (NASDAQ:AAPL)'s annual conference, where the iPhone maker faces an unsettled developer audience. "And when we do introduce a revenue share, it will be less than the 30% that Apple and others take." Apple's control over what apps make it to its app platform and its commissions of 15% to 30% on digital sales have come under regulatory scrutiny, with the iPhone maker...

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08 June
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EDF Energy starts defuelling phase of Dungeness B with immediate effect By Reuters

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By Nora Buli (Reuters) - EDF (PA:EDF) Energy has decided to move Britain's Dungeness B nuclear power station in Kent into the defuelling phase with immediate effect, it said on Monday. The two reactors at the plant have been offline since 2018, due to an extended outage in which EDF has been managing a range of "unique, significant and ongoing technical challenges" not found in other British reactors, it said. "As a result, EDF has taken a decision not to restart the plant but to move it into the defuelling stage," it added. EDF previously...

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08 June
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London Metal Exchange to decide fate of iconic open-outcry ‘ring’ By Reuters

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By Pratima Desai LONDON (Reuters) - The London Metal Exchange will tell its members on Tuesday whether its iconic open outcry floor is to close for good, cementing the switch to electronic trading, a move strongly opposed by many of the exchange's users. The floor was closed in March 2020 for the first time since World War II to allow for the social distancing needed to deal with COVID-19, silencing its red ring of seats and accompanying theatre of arcane hand signals and frenzied shouting by traders. In January, the world's oldest and biggest marketplace...

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08 June
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Big tech supports global tax, but wants digital services levies axed By Reuters

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By Diane Bartz WASHINGTON (Reuters) - U.S. tech giants could benefit from the agreement of the Group of Seven rich countries' agreement to create a global minimum 15% corporate tax rate if the final deal also scraps increasingly popular digital services taxes, according to industry lobbyists. The deal, reached Saturday, was designed to reduce companies' incentives to shift profits to low-tax offshore havens and could bring hundreds of billions of dollars into government coffers. The statement on the U.S. Treasury Department website touting the deal also discusses the "removal of all Digital Services Taxes, and...

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08 June
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Investors call for ethical approach to facial recognition technology By Reuters

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By Simon Jessop and Ross Kerber LONDON (Reuters) - A group of 50 investors managing more than $4.5 trillion in assets is calling on companies involved in the development and use of facial recognition technology, such as Amazon (NASDAQ:AMZN) and Facebook (NASDAQ:FB), to do so in an ethical way. The investor group, which is led by asset manager Candriam, a European division of U.S. financial services company New York Life, said in a statement the technology could infringe on an individual's privacy rights, given the lack of consent of those being identified, and that there...

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08 June
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Indonesian tin miners target the ocean as reserves dwindle on land By Reuters

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By Fransiska Nangoy TOBOALI, Indonesia (Reuters) - From the shores of Indonesia's Bangka island, miners like Hendra head out by boat every day to scores of crudely built wooden pontoons dotted off the coast that are equipped to dredge the seabed for lucrative deposits of tin ore. Indonesia is the world's biggest exporter of tin used in everything from food packaging to electronics and now green technologies. But deposits in the mining hub of Bangka-Belitung have been heavily exploited on land, leaving parts of the islands off the southeast coast of Sumatra island resembling a...

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08 June
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Apple’s new ‘private relay’ feature will not be available in China By Reuters

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By Stephen Nellis (Reuters) - Apple Inc (NASDAQ:AAPL) on Monday said a new "private relay" feature designed to obscure a user's web browsing behavior from internet service providers and advertisers will not be available in China for regulatory reasons. The feature was one of number of privacy protections Apple announced at its annual software developer conference on Monday. It will also be unavailable in Belarus, Colombia, Egypt, Kazakhstan, Saudi Arabia, South Africa, Turkmenistan, Uganda and the Philippines, Apple said. The "private relay" feature first sends web traffic to a server maintained by Apple, where it is...

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08 June
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Analysis: More Chinese companies could fall under Biden’s broader investment ban By Reuters

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By Karen Freifeld (Reuters) - President Joe Biden's order last week banning U.S. investment in certain Chinese companies is broader than a similar one signed by his predecessor Donald Trump and has a lower bar, making it easier to add more companies later.     Legal experts say it also may help the administration avoid embarrassing defeats in court after a ban imposed near the end of the Trump administration failed to hold up against legal challenges.     Biden's order will prohibit U.S. investments in about 60 companies in China's defense or surveillance technology sectors.     "It's...

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08 June
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Job Openings, Business Optimism, Crude Stockpile: 3 Things to Watch By Investing.com

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By Dhirendra Tripathi Investing.com -- Stocks struggled to find direction for much of the trading session on Monday, as both cyclicals and growth stocks failed to draw investor appetite ahead of key data due later this week. Consumer inflation data is coming on Thursday. Inflation remains a sensitive topic as investors fear price pressures could force the Federal Reserve to tighten aggressively, potentially risking a recession. The weaker jobs report last Friday, however, confirmed expectations the Fed is unlikely to back off from its bond purchases sooner than expected. Cyclicals stocks like materials and industrials –...

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