28 June

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Zalando to set up logistic site in France, creating 2,000 jobs, Elysee says By Reuters

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PARIS (Reuters) - German online fashion retailer Zalando will invest 300 million euros ($358 million) in a new logistics site in France that will lead to the creation of 2,000 jobs, the French presidential palace said on Monday. It is one of the 22 investment projects outlined by the Elysee palace, for a total of 3.5 billion euros, as French President Macron welcomes 120 international chief executives in Versailles on Monday for his now traditional "Choose France" summit in which he pitches France as an investment destination. Robert Gentz, one of Zalando co-CEO's, is on...

28 June

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EU backs personal data flows with Britain as deadline looms By Reuters

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BRUSSELS (Reuters) - The European Union has agreed that British standards for the protection of personal data are sufficiently high to allow information to continue to flow between the bloc and its former member, the European Commission said on Monday. The EU executive has taken two "adequacy" decisions that include safeguards such as an automatic expiry after four years, the first time the EU has used such a "sunset clause". Its decisions relate to the EU's overarching General Data Protection Regulation (GDPR) and to a directive on the processing of personal data connected with criminal offences,...

28 June

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Swedish PM Lofven resigns in wake of no-confidence vote By Reuters

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STOCKHOLM (Reuters) - Swedish Prime Minister Stefan Lofven said on Monday he had handed in his notice of resignation, giving parliament's speaker the job of finding a new premier after the Social Democrat leader lost a vote of no-confidence last week. Lofven lost the confidence vote in parliament on June 21 after the Left Party withdrew its support, triggering frenzied talks as both the centre-left and centre-right tried to line up enough support to form a government. He had until midnight tonight to find fresh backing in parliament, enabling him hand over the job of...

28 June

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ECB should retain flexibility of emergency stimulus scheme – Panetta By Reuters

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FRANKFURT (Reuters) - The European Central Bank must not reduce stimulus too early and should retain the exceptional flexibility of its emergency bond purchase scheme beyond the current crisis, ECB board member Fabio Panetta said on Monday. Aiming to sure up the euro zone economy during a deep recession, the ECB agreed on exceptional flexibility for its 1.85 trillion euro Pandemic Emergency Purchase Programme last year. The scheme could end as soon as next March, raising the risk of an ECB retreat in some markets. More traditional instruments, such as the Asset Purchase Programme, make...

28 June

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Baidu’s EV firm Jidu hires ex-Cadillac designer By Reuters

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BEIJING (Reuters) - Jidu Auto, a smart electric vehicle venture between China's tech giant Baidu Inc (NASDAQ:BIDU) and Chinese automaker Geely, said it has hired Frank Wu, formerly at Cadillac, to lead its design studio. Jidu's chief executive Xia Yiping told Reuters in April that the new company, founded in January, aims to invest 50 billion yuan ($7.7 billion) into producing smart cars over the next five years. Wu previously worked for General Motors Co (NYSE:GM)'s premium Cadillac brand in Warren, Michigan, and led design studio of Beijing brand of Chinese state-owned automaker BAIC in Beijing....

28 June

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Ferragamo picks Burberry’s Gobbetti as its new chief By Reuters

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MILAN (Reuters) - Italian fashion group Salvatore Ferragamo said on Monday it had chosen Marco Gobbetti, the outgoing CEO of British luxury group Burberry, as its new chief executive. Speculation over a possible management shake-up at Ferragamo has been circulating for some time, even after the Ferragamo family confirmed current Chief Executive Micaela Le Divelec on March. Ferragamo has been hit harder than most rivals by the fallout of the coronavirus pandemic and is often cited by industry observers as a possible takeover target as smaller companies are less able to hedge themselves against changes...

28 June

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Swiss bank UBS to allow most staff to adopt hybrid working By Reuters

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ZURICH (Reuters) - UBS Group will allow most staff to mix remote working with time spent in the office, Switzerland's biggest bank said on Monday, taking a more relaxed approach than some of its Wall Street rivals. "We are committed to offering our employees the flexibility for hybrid working where role, tasks and location allow," UBS said. "Hybrid work options will be introduced on a country-by-country basis, with timing dependent on the local pandemic situation." The Financial Times said the policy could allow up to two thirds of UBS staff adopt the hyrbid working model. ...

28 June

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Clock counts down for Swedish PM Lofven as snap election looms By Reuters

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STOCKHOLM (Reuters) - Sweden moved closer to a snap election on Monday after fruitless attempts to form a government by both the centre-left and centre-right blocs left Prime Minister Stefan Lofven until the end of the day to resign or call a national vote. Lofven lost a motion of no-confidence in parliament on June 21 after the Left Party withdrew its support, triggering frenzied talks as both the centre-left and centre-right tried to line up enough support to form a government. "The decision that will shake up Swedish politics," daily Dagens Nyheter said in its front...

28 June

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Florida town official said building was safe despite warning – media By Reuters

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(Reuters) - A town inspector had assured residents of a high-rise condominium in Surfside, Florida, that their building was sound a month after an engineering report warned of major structural damage that required prompt repair in 2018, U.S. media reported. The Champlain Towers South building partially collapsed in the early hours of Thursday as residents slept. The death toll stood at nine on Sunday and more than 150 people were missing as rescue teams picked through the rubble without detecting signs of life. What caused nearly half the 12-story, 156-unit building to cave in has yet...

28 June

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Analysis: India bulks up against outflows as Fed, virus risks threaten repeat of 2013 By Reuters

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By Swati Bhat and Aftab Ahmed MUMBAI (Reuters) - India's $600 billion in reserves should help it fight market volatility from any U.S. monetary tightening, but analysts and traders warn a slowing economy and an expanding fiscal deficit still make it particularly vulnerable to capital flight. Asia's third-largest economy has bad memories of past attempts by the Federal Reserve to get away from crisis-mode policies, particularly in 2013 when mere talk of "tapering" stimulus prompted the rupee to sink to record lows. Now, with the Fed again giving increasing thought to when it will need...

Меню

Zalando to set up logistic site in France, creating 2,000 jobs, Elysee says By Reuters

EU backs personal data flows with Britain as deadline looms By Reuters

Swedish PM Lofven resigns in wake of no-confidence vote By Reuters

ECB should retain flexibility of emergency stimulus scheme – Panetta By Reuters

Baidu’s EV firm Jidu hires ex-Cadillac designer By Reuters

Ferragamo picks Burberry’s Gobbetti as its new chief By Reuters

Swiss bank UBS to allow most staff to adopt hybrid working By Reuters

Clock counts down for Swedish PM Lofven as snap election looms By Reuters

Florida town official said building was safe despite warning – media By Reuters

Analysis: India bulks up against outflows as Fed, virus risks threaten repeat of 2013 By Reuters

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