31 July

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FTSE 100 falls as miners weigh, British Airways owner slides By Reuters

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By Shashank Nayar and Amal S (Reuters) - London's FTSE 100 ended lower on Friday, weighed down by miners over concerns that rising coronavirus infections globally could derail economic growth, while British Airways-owner IAG (LON:ICAG) dropped after saying it was cautious on recovery prospects. IAG slid 7.5%, and was the second biggest drag on the index, after it declined to give a profit forecast for the year due to the COVID-19 pandemic, but said its summer capacity would rise to 45% from 22% in the previous quarter. The blue-chip FTSE 100 lost 0.7%, with miners and...

31 July

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Analysis-As Fed tiptoes around tapering, investors look to Jackson Hole meeting for clarity By Reuters

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By David Randall and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Investors looking for clear guidelines on when the Federal Reserve will begin tapering its massive bond purchases were left waiting Wednesday, with all eyes next on the annual Jackson Hole conference of central bankers in August. The central bank has been buying $120 billion in fixed income assets per month - $80 billion in Treasuries and $40 billion in mortgage-backed securities - to support the economy as it recovers from the impact of the coronavirus pandemic, and markets have been fixated on when the Fed...

31 July

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U.S. Senate in rare Saturday session on $1 trln infrastructure bill By Reuters

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By Susan Cornwell WASHINGTON (Reuters) -The U.S. Senate in a rare Saturday session worked on a bill that would spend $1 trillion on roads, rail lines and other infrastructure, as lawmakers from both parties sought to advance President Joe Biden's top legislative priority. The ambitious plan https://www.reuters.com/article/usa-biden-infrastructure-details/factbox-whats-in-the-us-senates-bipartisan-1-tln-infrastructure-plan-idUSL1N2P52EF has the backing of Democrats and Republicans alike and has already cleared two hurdles by broad margins in the closely divided Senate. But so far no lawmakers have seen the final text of the bill, which includes about $550 billion in new spending and was still being written on...

31 July

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Atlassian Surges 30% As 23,000 Customer Adds Wows Brokerages By Investing.com

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By Dhirendra Tripathi Investing.com – Atlassian (NASDAQ:TEAM) stock soared 30% Friday as the company’s fourth-quarter results left brokerages impressed, with at least seven of them raising their price targets. In the words of Co-founder and Co-CEO Mike Cannon-Brookes, the company had “a ripper of a quarter”. It added over 23,000 new customers, to pass the 200,000-mark. “We have a lot of confidence in Atlassian, but the truth is we expected the cloud transition to be a bit choppier than it’s been to date. Perhaps the upside surprise has been a master class in expectations management, but...

31 July

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Credit Suisse chairman doubles down with $1 million stock purchase By Reuters

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ZURICH (Reuters) - Credit Suisse (SIX:CSGN) Chairman Antonio Horta-Osorio has bought another 1 million Swiss francs ($1.1 million) worth of shares in the group as he tries to restore order to Switzerland's second-biggest bank. Regulatory filings showed a member of the bank's board of directors had purchased the shares on Friday. A spokesperson confirmed it was Horta-Osorio. In May, Horta-Osorio had bought 1.1 million Swiss francs worth of shares in the group. The former Lloyds (LON:LLOY) chief executive is looking at the bank's risk management and culture in the wake of two major crises...

31 July

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Amazon-backed Rivian in talks with ministers over UK factory -Sky News By Reuters

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(Reuters) -Amazon.com Inc-backed electric vehicle start-up Rivian Automotive is in talks with ministers about building a factory in the UK that could include a big state support package, Sky News reported on Saturday. The company, which is also backed by Ford Motor (NYSE:F) Co, has been in negotiations with the British government for weeks about the construction of a plant near Bristol, the report https:// added. The talks are not yet at an advanced stage but any investment decision would likely be worth well over 1 billion pounds ($1.39 billion), the report said, citing sources....

31 July

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UK mortgage lending booms but consumers stay wary about debt By Reuters

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By William Schomberg and David Milliken LONDON (Reuters) -British mortgage lending showed a record surge in June as home-buyers rushed to qualify for a tax break before it was scaled back, but other data added to signs that a rise in COVID-19 cases in recent weeks slowed the broader economic recovery from lockdown. Mortgage borrowing leapt by a net 17.9 billion pounds ($25.0 billion) from May, the biggest monthly increase in Bank of England records which date back to 1993. The scale of the increase underscored how the tax incentive fired up Britain's housing market, which...

31 July

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Credit Suisse’s Archegos post mortem slams management; profit slumps By Reuters

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By Brenna Hughes Neghaiwi ZURICH (Reuters) -A "lackadaisical" attitude towards risk and "a lack of accountability" were to blame for Credit Suisse (SIX:CSGN)'s $5.5 billion loss on investment fund Archegos, according to a review published on Thursday, as the bank reported a near-80% fall in second-quarter profit. The collapse of Archegos rocked Wall Street in March as its highly leveraged stock bets went sour, sending banks scrambling for the exit. In a $10 billion bloodbath, Credit Suisse was the biggest loser, a devastating double whammy for a bank already reeling from the insolvency of...

31 July

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UK’s Sunak to give half-yearly budget update on Oct. 27 By Reuters

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By David Milliken LONDON (Reuters) -British finance minister Rishi Sunak will give a half-yearly update on the public finances and economic outlook on Oct. 27, when he is also likely to outline longer-term public spending plans after his massive coronavirus pandemic stimulus. Sunak told the Office for Budget Responsibility, the government's forecasters, on Thursday to begin preparing new economic and fiscal forecasts for publication on Oct. 27. The last OBR forecasts were announced on March 3, since when the near-term outlook for growth has brightened due to Britain's rapid roll-out of COVID-19 vaccines which has helped...

31 July

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Analysis-Airbus production plans expose strategy rift with engine makers By Reuters

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By Tim Hepher PARIS (Reuters) - A rift between Airbus and engine makers over plans for higher jet output blotted strong aerospace earnings this week, with worries over the supply chain's industrial capacity masking a deeper tug of war over contrasting business strategies. With travel demand snapping back in key U.S. and Chinese markets, Airbus wants to almost double jet production in a few years as it capitalises on a bulging order book for new jets and the recent woes of embattled U.S. rival Boeing (NYSE:BA). In May, it issued a mix of firm targets and...

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FTSE 100 falls as miners weigh, British Airways owner slides By Reuters

Analysis-As Fed tiptoes around tapering, investors look to Jackson Hole meeting for clarity By Reuters

U.S. Senate in rare Saturday session on $1 trln infrastructure bill By Reuters

Atlassian Surges 30% As 23,000 Customer Adds Wows Brokerages By Investing.com

Credit Suisse chairman doubles down with $1 million stock purchase By Reuters

Amazon-backed Rivian in talks with ministers over UK factory -Sky News By Reuters

UK mortgage lending booms but consumers stay wary about debt By Reuters

Credit Suisse’s Archegos post mortem slams management; profit slumps By Reuters

UK’s Sunak to give half-yearly budget update on Oct. 27 By Reuters

Analysis-Airbus production plans expose strategy rift with engine makers By Reuters

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