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June 7, 2021

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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......

Asia shares hesitate, China imports underpin resources

Reuters
Asian shares turned sluggish on Monday as relief over a benign U.S. jobs report was chilled by caution ahead of key inflation data, while a coronavirus outbreak in Taiwan took an increasing toll on hard-pressed chip makers. Data out of Beijing showed China’s imports grew at their fastest pace in......

Oil retreats as investors await Iran nuclear talks this week

Reuters
Oil pulled back after hitting fresh multi-year highs on Monday, as investors awaited the outcome of this week’s talks between Iran and world powers over a nuclear deal that is expected to boost crude supplies. Brent crude futures for August fell 38 cents, or 0.5%, to $71.51 a barrel by......

China’s imports grow at fastest pace in a decade

Reuters
China’s imports grew at their fastest pace in 10 years in May, fuelled by surging commodity prices, while export growth missed expectations, customs data showed on Monday. Exports in dollar terms grew 27.9% in May from a year earlier, slower than the 32.3% growth reported in April and missing analysts’......

Volkswagen chairman to seek re-election at shareholder meeting

Reuters
Chairman of Volkswagen supervisory board, Hans Dieter Poetsch, addresses the media after a supervisory board meeting at the Volkswagen plant in Wolfsburg, Germany November 15, 2019. REUTERS/Fabian Bimmer Volkswagen (VOWG_p.DE) Chairman Hans Dieter Poetsch will seek re-election at a coming annual general meeting, the carmaker said on Saturday. Poetsch, 70,......

Musk says Tesla cancels the longest-range Model S Plaid+

Reuters
A Tesla Model S steering wheel is on display at the Canadian International AutoShow in Toronto, Ontario, Canada, February 13, 2019. REUTERS/Mark Blinch Production for Tesla Inc’s (TSLA.O) longest-range Model S Plaid+ is canceled, CEO Elon Musk said in a tweet on Sunday. “Plaid+ is canceled. No need, as Plaid......

G7 nations reach historic deal to tax big multinationals

Reuters
A group of the world’s richest nations reached a landmark deal on Saturday to close cross-border tax loopholes used by some of the world’s biggest companies. The Group of Seven said it would back a minimum global corporation tax rate of at least 15%, and put in place measures to......

Microsoft says error led to no matching Bing images for Tiananmen ‘tank man’

Reuters
Microsoft Corp (MSFT.O) on Friday blamed “accidental human error” for its Bing search engine not showing image results for the query “tank man” in the United States and elsewhere after users raised concerns about possible censorship around the Tiananmen Square crackdown anniversary. Users, including in the United Kingdom, Germany and......

Global equities nearly grasp all-time record, dollar drops after U.S. jobs data

Reuters
Global stocks rallied on Friday and closed near all-time highs, and oil and gold rose while the dollar dropped after U.S. jobs data was strong but not as robust as expected, easing investor worries that the Federal Reserve would soon rein in monetary stimulus. U.S. employers increased hiring in May......

U.S. job growth picks up, desperate employers boost wages to attract workers

Reuters
U.S. employers increased hiring in May and raised wages as they competed for workers, with millions of unemployed Americans still at home because of childcare issues, generous unemployment checks and lingering fears over COVID-19. Though the pickup in job growth shown in the Labor Department’s closely watched employment report on......

Facebook’s Marketplace in EU, UK antitrust crosshairs

Reuters
Europe and Britain launched formal antitrust investigations into Facebook (FB.O) on Friday to determine if the world’s largest social network is using customers’ data to unfairly compete with advertisers, in a new threat to its business model. The European Commission and Britain’s Competition and Markets Authority separately said they would......

Asia tracks Wall St lower as U.S. inflation bets perk up

Reuters
Asian stocks followed Wall Street lower on Friday as signs of a strengthening U.S. recovery boosted bets for higher inflation and an earlier tapering of Federal Reserve stimulus. U.S. Treasury yields jumped, lifting the dollar and hurting tech shares, after better-than-expected employment data overnight raised expectations for a strong reading......

Oil prices slip as coronavirus gloom festers

Reuters
Oil prices dropped on Friday as concerns about the patchy roll-out of anti-coronavirus vaccinations around the globe tempered optimism earlier in the week that demand for fuels was recovering from the depths of the pandemic. Brent crude was down 29 cents, or 0.4%, at $71.02 a barrel by 0057 GMT,......

Banks bulk up in Hong Kong as China business overshadows politics

Reuters
A Star Ferry boat crosses Victoria Harbour in front of a skyline of buildings in Hong Kong, China June 29, 2020. REUTERS/Tyrone Siu Some global banks, funds and other financial services providers say they are stepping up hiring in Hong Kong, in a sign the city’s unique position as a......

Ackman’s Pershing Square SPAC nearing $40-bln deal with Universal Music Group – sources

Reuters
William ‘Bill’ Ackman, CEO and Portfolio Manager of Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York City, U.S., May 8, 2017. REUTERS/Brendan McDermid Billionaire investor William Ackman’s blank-check firm Pershing Square Tontine Holdings (PSTH.N) is nearing a deal with Universal Music Group that would value......

JPMorgan credit card spending ticks up, modestly helping loan growth

Reuters
A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar Spending by customers holding JPMorgan Chase & Co (JPM.N) credit cards is up 17% year to date over the same period in 2019, bank co-president Gordon Smith......

EU court backs Tesco workers in equal pay dispute

Reuters
A logo of Tesco is pictured outside a Tesco supermarket in Hatfield, Britain October 6, 2020. REUTERS/Peter Cziborra/File Photo Thousands of current and former employees of UK supermarket group Tesco (TSCO.L) on Thursday won the support of Europe’s top court in their fight for equal pay in a judgment that......

Crypto firms fall short on anti-money laundering rules, UK watchdog says

Reuters
Representations of cryptocurrencies including Bitcoin, Dash, Ethereum, Ripple and Litecoin are seen in this illustration picture taken June 2, 2021. REUTERS/Florence Lo/Illustration Many cryptocurrency firms are not meeting Britain’s anti-money laundering and counter-terrorism financing rules, the country’s financial watchdog said on Thursday, showing how some parts of the emerging sector......

Huawei launches new operating system for phones, eyes ‘Internet-of-Things’ market

Reuters
China’s Huawei Technologies (HWT.UL) launched its Harmony operating system for smartphones on Wednesday, looking to recover from U.S. sanctions that have hobbled its handset business. Huawei will start rolling out HarmonyOS on selected smartphone models, offering users the chance to switch from the current operating system based on Google’s Android......

U.S. Treasury says G7 expected to endorse U.S. global minimum tax proposal

Reuters
A G7 logo is seen on an information sign near the Carbis Bay hotel resort, where an in-person G7 summit of global leaders is due to take place in June, St Ives, Cornwall, southwest Britain May 24, 2021. REUTERS/Toby Melville/Files The G7 wealthy democracies are expected to endorse Washington’s proposal......

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