14 June

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Europe-U.S. nearing jet subsidy pact under China’s shadow By Reuters

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By Andrea Shalal, Philip Blenkinsop and Tim Hepher (Reuters) - The United States and Europe are closing in on a deal to end a 17-year-old dispute over aircraft subsidies and end tariffs, while seeking an elusive consensus on how to address competition from China, people familiar with the matter said on Monday. A deal would lift the threat of a renewed trade war between the two sides that has already spilled over to industries from farming to luxury goods and tarnished transatlantic relations. Talks are converging towards a pair of separate but broadly aligned treaties -...

14 June

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U.S. Inflation Expectations Rise to New Highs in N.Y. Fed Survey By Bloomberg

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(Bloomberg) -- U.S. consumers’ expectations for inflation over the medium term rose to an eight-year high in May, according to a Federal Reserve Bank of New York survey. The median survey respondent anticipated an inflation rate of 3.6% in three years, up from 3.1% in April, the New York Fed said Monday. The reading marked the highest level since August 2013, while short-term expectations, over one year, reached a record. Fed officials may discuss the data points at this week’s Federal Open Market Committee meeting, in which they will debate the U.S. central bank’s next steps...

14 June

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Shell restarting second stage of hydrocracker at Norco, Louisiana refinery – sources By Reuters

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HOUSTON (Reuters) - Royal Dutch Shell (LON:RDSa) Plc began restarting the second stage of the hydrocracker at its 227,400 barrel-per-day (bpd) Norco, Louisiana refinery, sources familiar with plant operations said on Monday. The second stage of the 40,000-bpd hydrocracker was taken out of production on June 8 because of a malfunction, the sources said. ...

14 June

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U.K. shares lower at close of trade; Investing.com United Kingdom 100 down 0.87% By Investing.com

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Investing.com – U.K. equities were lower at the close on Monday, as losses in the Food Producers, Travel & Leisure and Aerospace & Defense sectors propelled shares lower. At the close in London, the Investing.com United Kingdom 100 fell 0.87%. The biggest gainers of the session on the Investing.com United Kingdom 100 were Royal Dutch Shell PLC Class A (LON:RDSa), which rose 2.75% or 39.11 points to trade at 1459.81 at the close. Royal Dutch Shell PLC Class A (LON:RDSa) added 2.67% or 38.0 points to end at 1458.4 and Royal Dutch Shell PLC B (LON:RDSb)...

14 June

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ResMed Jumps As Needham Says Philips’ Ventilator Trouble Positive For It By Investing.com

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By Dhirendra Tripathi Investing.com – ResMed (NYSE:RMD) shares rose more than 4% Monday following its rival Philips (NYSE:PHG) recalling certain breathing devices and ventilators on concerns they could harm the patients. Needham & Company analyst Michael Matson (NYSE:MATX) said Philips’ troubles could benefit ResMed. Needham has a buy rating on the stock with a $229 target. The stock touched a high of $229.17 in the session so far today. Philips shares fell over 4% today following its decision to voluntarily recall Bi-Level Positive Airway Pressure, Continuous Positive Airway Pressure and mechanical...

14 June

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Exclusive: Carlos Ghosn pledges lengthy fight to clear his name By Reuters

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By Maha El Dahan and Imad Creidi BEIRUT (Reuters) - Fugitive former car executive Carlos Ghosn said on Monday he was prepared for a lengthy process to clear his name with French authorities, and vowed to challenge an Interpol warrant that is barring him from travel outside of Lebanon. The architect of the Renault-Nissan auto alliance has been fighting multiple probes since fleeing to Lebanon from Japan in late 2019, and has said he hopes to clear his name in financial misconduct cases against him. Ghosn was chairman of both Nissan and Mitsubishi and...

14 June

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German conservatives reject tax hikes in draft election manifesto By Reuters

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BERLIN (Reuters) - Germany's conservatives plan to rule out tax hikes in their election manifesto, a draft obtained by Reuters showed, aligning them with their preferred liberal coalition partners and distinguishing them from their main rivals. The conservative alliance of the Christian Democrats (CDU) and Bavarian Christian Social Union (CSU) aims to use its presentation of the manifesto next Monday to widen its lead over the ecologist Greens ahead of a Sept. 26 federal election. "We clearly reject tax increases," read the CDU/CSU bloc's draft manifesto, which top CDU officials discussed at the weekend. Conservative Chancellor...

14 June

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Oatly Divides Analysts Who Love the Story, But Maybe Not Quite Yet By Investing.com

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By Christiana Sciaudone Investing.com -- Oat milk anyone? Hm, maybe. Most analysts appear to be into the alt-milk drink, while others not so much. Shares fell some 3%. Piper Sandler is firmly in the buy camp, saying its brand equity and pricing power set it apart and warrant a valuation premium. The total addressable market size is "significant" and Oatly should continue gaining share, only limited by capacity. It also has solid (buzz term!) ESG credentials, boasting 80% less carbon emissions and 60% less energy usage versus cow's milk, analyst Michael Lavery wrote in a...

14 June

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JD Sports boss defends pay policy ahead of investor meeting By Reuters

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LONDON (Reuters) - The longstanding boss of JD Sports, Britain's biggest sportswear retailer, on Monday defended taking a bonus in a year the group received taxpayer money for staff furlough and business rates relief. Ahead of JD's annual shareholders' meeting (AGM) on July 1 advisory group Glass Lewis has recommended investors vote against the company's remuneration policy, which it regards as inappropriate. JD's annual report shows Chairman Peter Cowgill took a bonus of 1.3 million pounds ($1.8 million) in its 2020-21 year and received a total pay package of 5 million pounds. He said furlough...

14 June

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Novavax Vaccine Prospects Take BioNTech, Moderna Shares Down By Investing.com

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By Dhirendra Tripathi Investing.com – Shares of Covid-19 vaccine makers like BioNTech (NASDAQ:BNTX) and Moderna (NASDAQ:MRNA) weakened on Monday on prospects of one more rival, Novavax (NASDAQ:NVAX), joining them in the market. BioNTech slumped 9% and Moderna by 8%. Pfizer (NYSE:PFE), which makes and markets the vaccine in collaboration with BioNTech, fell 1.5%. Johnson & Johnson (NYSE:JNJ), the only one with a single-dose vaccine, was down 0.5%. Novavax itself had a volatile session, giving up its gains of over 9% premarket to go...

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Europe-U.S. nearing jet subsidy pact under China’s shadow By Reuters

U.S. Inflation Expectations Rise to New Highs in N.Y. Fed Survey By Bloomberg

Shell restarting second stage of hydrocracker at Norco, Louisiana refinery – sources By Reuters

U.K. shares lower at close of trade; Investing.com United Kingdom 100 down 0.87% By Investing.com

ResMed Jumps As Needham Says Philips’ Ventilator Trouble Positive For It By Investing.com

Exclusive: Carlos Ghosn pledges lengthy fight to clear his name By Reuters

German conservatives reject tax hikes in draft election manifesto By Reuters

Oatly Divides Analysts Who Love the Story, But Maybe Not Quite Yet By Investing.com

JD Sports boss defends pay policy ahead of investor meeting By Reuters

Novavax Vaccine Prospects Take BioNTech, Moderna Shares Down By Investing.com

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