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June 9, 2021

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S&P 500 teases record closing high as retail frenzy churns

Reuters
The S&P 500 (.SPX) hovered near a record closing high on Wednesday, as institutional investors looked to coming inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy. The retail “meme stock” craze continued unabated. The gains of all three major U.S. stock......

Facebook’s global ads chief Everson leaves company

Reuters
A Facebook logo is displayed on a smartphone in this illustration taken January 6, 2020. REUTERS/Dado Ruvic Facebook Inc (FB.O) ads chief Carolyn Everson is leaving the company, she said in a post on the social media platform on Wednesday. “We wish Carolyn the best as she moves into a......

U.S. withdrawing Trump executive orders that sought to ban TikTok, WeChat

Reuters
A picture of U.S. President Donald Trump is seen on a smartphone in front of displayed Tik Tok and WeChat logos in this illustration taken September 18, 2020. REUTERS/Dado Ruvic/Illustration President Joe Biden is withdrawing a series of executive orders that sought to ban new downloads of WeChat and TikTok......

Inditex ignited by post-lockdown clothing binge

Reuters
Spanish fast fashion giant Inditex (ITX.MC) said sales in May and so far in June were twice as high as in the same period last year as customers splashed out on post-lockdown shopping sprees. The strong sales for May 1 to June 6 for the owner of brands including Zara,......

Prosecutors charge Winterkorn with giving false testimony to German parliament

Reuters
Former Volkswagen chief executive Martin Winterkorn in Berlin, Germany, January 19, 2017. REUTERS/Hannibal Hanschke Berlin prosecutors said on Wednesday they have brought charges against former Volkswagen boss Martin Winterkorn forgiving false testimony to the German parliament when he said he was unaware of the carmaker’s diesel scandal before it broke.......

Solarwatt and BMW cooperate on home batteries

Reuters
A logo of German luxury carmaker BMW, is seen ahead of the company’s annual news conference in Munich, Germany, March 20, 2019. REUTERS/Michael Dalder Solarwatt will start selling storage batteries from this autumn in cooperation with carmaker BMW (BMWG.DE) amid an ongoing convergence of renewable power and electric mobility, the......

Battery maker Northvolt raises $2.75 bln to expand factory

Reuters
Northvolt logo is pictured in the Northvolt office in Stockholm, Sweden June 14, 2018. REUTERS/Esha Vaish/File Photo Swedish lithium-ion battery maker Northvolt has raised $2.75 billion in equity to expand capacity at the factory it is developing in northern Sweden to 60 gigawatt hours (GWh) from 40GWh to meet increasing......

Ferrari turns to world of tech for its new CEO

Reuters
Ferrari (RACE.MI) has turned to a tech executive to navigate the transition towards electrification in the automotive industry, appointing Benedetto Vigna as its new boss. Vigna, a 52-year-old Italian national, currently leads the biggest division of chip maker STMicrolectronics’ (STM.BN). His appointment fills a six-month vacancy at the helm of......

U.S. forming expert groups on safely lifting global travel restrictions

Reuters
The Biden administration is forming expert working groups with Canada, Mexico, the European Union and the United Kingdom to determine how best to safely restart travel after 15 months of pandemic restrictions, a White House official said on Tuesday. Another U.S. official said the administration will not move quickly to......

Las Vegas Sands faces $12 billion claim in Macau court

Reuters
U.S. casino giant Las Vegas Sands (LVS.N) is facing a $12 billion lawsuit from a former partner in a Macau court, in a case set to shine a light over how coveted casino licenses were awarded in the world’s biggest gambling hub two decades ago. Former partner Asian American Entertainment......

EXCLUSIVE Apple, Chinese manufacturers in talks on U.S. car battery factory -sources

Reuters
Apple Inc (AAPL.O) is in early-stage talks with China’s CATL (300750.SZ) and BYD (002594.SZ), about the supply of batteries for its planned electric vehicle, four people with knowledge of the matter said. The discussions are subject to change and it is not clear if agreements with either CATL or BYD......

U.S. Senate passes sweeping bill to address China tech threat

Reuters
The U.S. Senate voted 68-32 on Tuesday to approve a sweeping package of legislation intended to boost the country’s ability to compete with Chinese technology. The desire for a hard line in dealings with China is one of the few bipartisan sentiments in the deeply divided U.S. Congress, which is......

Chinese grocery app Dingdong Maicai files for U.S. IPO

Reuters
Chinese grocery app Dingdong Maicai, backed by investors including Sequoia Capital and Tiger Global Management, filed for a U.S. initial public offering on Tuesday, as it seeks more funds to compete in a crowded sector. The COVID-19 pandemic has fueled online demand for fresh produce in China, with e-commerce companies......

Clover Health soars 49% as ‘meme stock’ rally powers on

Reuters
An AMC theatre is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. REUTERS/Carlo Allegri/File Photo Shares of Clover Health Investments Corp (CLOV.O) jumped 49% on Tuesday as it became the new center of attention for small-time individual......

Social media, news websites hit by major internet outage

Reuters
Vehicles drive past the New York Times headquarters in New York March 1, 2010. REUTERS/Lucas Jackson/File Photo Multiple outages hit social media, government and news websites across the globe on Tuesday morning, with some reports pointing to a glitch at U.S.-based cloud computing services provider Fastly. Reuters could not immediately......

Tesla veteran and trucking chief leaves company

Reuters
Jerome Guillen, Vice President of Tesla Sales and Service, speaks in front of a Tesla S electric car and a charging station (R) during the press preview day of the North American International Auto Show in Detroit, Michigan January 14, 2014. REUTERS/Rebecca Cook Long-time Tesla Inc (TSLA.O) executive Jerome Guillen,......

Apple will enable storage of IDs like drivers licenses on iPhones

Reuters
Apple Inc (AAPL.O)on Monday said it will offer the ability to store state-issued identification cards digitally on iPhones and that it is working with the U.S. Transportation Security Administration to accept the digital IDs at airports, one of several updates to the software that runs on its devices. It also......

Amazon’s billionaire founder Jeff Bezos to fly to space next month

Reuters
Amazon’s billionaire founder Jeff Bezos said on Monday he and his brother Mark will fly on the first crewed space flight from his rocket company Blue Origin next month. “Ever since I was five years old, I’ve dreamed of traveling to space. On July 20th, I will take that journey......

U.S. tech giant shares unmoved on G7 tax deal

Reuters
FILE PHOTO: The logos of Amazon, Apple, Facebook and Google in a combination photo Shares in U.S. technology giants were flat to slightly lower in premarket trading, little changed by the landmark global minimum corporate tax dealagreed between the world’s richest nations. The Group of Seven (G7) advanced economies agreed......

Google to test changes to ad practices over coming months

Reuters
The logo of Google is seen at the high profile startups and high tech leaders gathering, Viva Tech,in Paris, France May 16, 2019. REUTERS/Charles Platiau/File Photo Google said on Monday it will test changes to its widely-used online advertising services over the coming months following the French antitrust decision. The......

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