06 September

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European banks still booking profits in tax havens, says report By Reuters

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LONDON (Reuters) - Top banks in Europe continue to use tax havens to book chunks of profits, a trend that has changed little since 2014 despite country-by-country disclosures becoming mandatory, the EU Tax Observatory said in a report on Monday. The independent research body, co-financed by the European Union, said disclosures from 36 major European banks showed they booked a total of 20 billion euros ($23.77 billion) or about 14% of total profits, in tax havens, even though few were employed there. Profits booked by banks in tax havens work out at around 238,000 per employee,...

06 September

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End of the summer: Events that may shake markets in September By Reuters

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LONDON (Reuters) - After a summer in which stocks have hit a seemingly never-ending run of record highs, September brings a series of monetary and political events that could jolt investors out of their complacency. The will-they-won't-they debate over trimming pandemic-era stimulus gets an airing with several G10 central banks holding meetings. A showdown over U.S. national debt alongside crucial elections in Japan and Germany add to the risks. Here are eight events, listed chronologically, which investors will watch in September: TAPER DOWN UNDER -- SEPT. 7 The Reserve Bank of Australia meets on Tuesday and...

06 September

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PM Johnson, senior ministers plan U.S. visits, The Telegraph reports By Reuters

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(Reuters) - British Prime Minister Boris Johnson and senior ministers will head to the United States on official visits in coming weeks, the Telegraph reported https://www.telegraph.co.uk/world-news/2021/09/06/uk-ministers-planning-us-blitz-visit-smooth-special-relationship on Monday. Plans are also being drawn up for Foreign Secretary Dominic Raab, Home Secretary Priti Patel, finance minister Rishi Sunak and other cabinet members to fly to the United States for meetings and conferences this month or in early October, the newspaper said. Johnson is expected to speak at the U.N. General Assembly in New York in the week of Sept. 20, the report added. ...

06 September

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Foxconn’s Gou hopes for up to 9 million BioNTech shots for Taiwan this year By Reuters

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TAIPEI (Reuters) - Taiwan could get up to 9 million doses of BioNTech SE's COVID-19 vaccine this year, the founder of Taiwanese tech giant Foxconn said on Monday, laying out a delivery timetable for a vaccine order that became heavily politicised. Taiwan had blamed China, which claims the island as its own territory, for nixing an original order from the German firm this year - charges Beijing has angrily denied. Taiwan's government then allowed major Apple Inc (NASDAQ:AAPL) supplier Foxconn - formally Hon Hai Precision Industry Co Ltd - as well as its high-profile billionaire founder,...

06 September

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Sustainable push sends Candriam assets to 150 billion euros By Reuters

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By Simon Jessop LONDON (Reuters) - European investment manager Candriam said its total assets rose 7.1% to 150 billion euros ($177 billion) in the first six months of the year, boosted by net inflows into its environmental, social and governance-focused funds. Demand to invest in ESG-related funds has surged over recent years as the world looks to move to a low-carbon economy in the fight against climate change, and as social issues such as diversity take on greater importance for investors. Candriam, part of privately held insurance firm New York Life, said the gains meant it...

06 September

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JD.com says founder Liu to step away from day-to-day operations By Reuters

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By Josh Horwitz SHANGHAI (Reuters) - China's JD.com said on Monday founder and chief executive Richard Liu will switch his focus to the e-commerce giant's long-term strategy, creating the new role of president to run the company's day-to-day operations. The move comes as several other founders of China's tech companies have gradually relinquished the top job, such as at Alibaba (NYSE:BABA) and Bytedance, although Liu, 48, will retain his title as chief executive and his board seat. The new role of president will be filled by Xu Lei, currently CEO of JD's biggest division,...

06 September

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Scores of asset managers fall short on tougher UK best practice code By Reuters

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By Huw Jones LONDON (Reuters) - BlackRock (NYSE:BLK), Fidelity, Legal & General, M&G and abrdn are among 125 firms endorsed under Britain's tougher best practice code to stop "greenwashing" by asset managers, though 64 peers failed to make the grade, the Financial Reporting Council said on Monday. Asset managers are under greater scrutiny from securities regulators globally to prevent "greenwashing" or exaggerating the climate-friendly credentials of their products to investors. The FRC beefed up its decade-old stewardship code in 2020 to stop "boiler plate" statements about investment decision-making that it said did little to show...

06 September

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Asia shares mixed, mull implications of U.S. jobs shock By Reuters

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By Wayne Cole SYDNEY (Reuters) - Asian shares got off to a mixed start on Monday as a disappointing U.S. payrolls report promised to keep policy there super-loose for longer, but also clouded the outlook for global growth and inflation. A holiday in the United States made for thin conditions and kept MSCI's broadest index of Asia-Pacific shares outside Japan flat in early trade. Japan's Nikkei added 1.7%, but South Korea eased 0.1%. Nasdaq futures were barely changed, while S&P 500 futures dipped 0.1%. Investors were still assessing the fallout from the September payrolls report which...

06 September

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Daimler CEO says carmakers could face chip shortage into 2023 By Reuters

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By Ilona Wissenbach and Nick Carey MUNICH (Reuters) - Soaring demand for semiconductor chips means the auto industry could struggle to source enough of them throughout next year and into 2023, though the shortage should be less severe by then, Daimler AG (DE:DAIGn)'s CEO said on Sunday. Carmakers, forced by the COVID-19 pandemic to shut down plants last year, face stiff competition from the sprawling consumer electronics industry for chip deliveries, hit by a series of supply chain disruptions during the pandemic. Cars have become increasingly dependent on chips - for everything from...

06 September

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Volkswagen CEO: smart cars, not e-cars, are ‘gamechanger’ By Reuters

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By Christoph Steitz and Jan Schwartz MUNICH (Reuters) - Volkswagen (DE:VOWG_p) head Herbert Diess on Sunday said autonomous cars, not electric vehicles, were the "real gamechanger" for the auto industry, which is facing the end of combustion engines in Europe by 2035. Diess' comments signal the pace at which the 62-year old tries to transform Europe's largest carmaker by basically saying that the shift towards battery-powered electric vehicles (EV), which still needs to be backed up by actual sales, was sealed. "Autonomous driving is really going to change our industry like nothing else before," Diess said...

Меню

European banks still booking profits in tax havens, says report By Reuters

End of the summer: Events that may shake markets in September By Reuters

PM Johnson, senior ministers plan U.S. visits, The Telegraph reports By Reuters

Foxconn’s Gou hopes for up to 9 million BioNTech shots for Taiwan this year By Reuters

Sustainable push sends Candriam assets to 150 billion euros By Reuters

JD.com says founder Liu to step away from day-to-day operations By Reuters

Scores of asset managers fall short on tougher UK best practice code By Reuters

Asia shares mixed, mull implications of U.S. jobs shock By Reuters

Daimler CEO says carmakers could face chip shortage into 2023 By Reuters

Volkswagen CEO: smart cars, not e-cars, are ‘gamechanger’ By Reuters

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