22 June

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Exclusive-Google drops engineering residency after protests over ‘inequities’ By Reuters

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By Jeffrey Dastin and Paresh Dave (Reuters) - Alphabet (NASDAQ:GOOGL) Inc's Google plans to shut down a long-running program aimed at entry-level engineers from underrepresented backgrounds after participants said it enforced "systemic pay inequities," according to internal correspondence seen by Reuters. Google confirmed it was replacing the Engineering Residency with a new initiative, saying it is "always evaluating programs to ensure they evolve and adapt over time to meet the needs of our employees." Google last year pledged to improve retention for underrepresented employee groups. Critics have long argued that Google and its tech industry peers...

22 June

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Climate Transition Capital launches $226 million SPAC By Reuters

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LONDON (Reuters) - Investment platform Climate Transition Capital said on Tuesday it will launch a 190 million euro ($226 million) Special Purpose Acquisition Company (SPAC) aimed at investing in companies that are "pioneering" climate transition. The company has already attracted investment from BlackRock (NYSE:BLK), the world's largest asset manager, and commodities trader Hartree, it said. SPACs raise funds to acquire a private company and take it public, and are the latest global craze in fundraising with record amounts funnelled to SPACs in the last two years. ($1 = 0.8405 euros) ...

22 June

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Recovering tax take helps narrow UK public borrowing chasm By Reuters

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By William Schomberg and Andy Bruce LONDON (Reuters) - British public borrowing fell in May from the sky-high levels of a year earlier when the government was ramping up a huge spending response to the pandemic, and there are signs that the recent recovery in the economy is boosting tax revenues. Borrowing excluding public sector banks totalled 24.3 billion pounds ($33.8 billion) in May, down from 43.8 billion pounds in the same month in 2020, the Office for National Statistics said. Economists polled by Reuters had on average expected a shortfall of 26.0 billion pounds. The...

22 June

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ECB policy needs to remain ‘very, very loose’: Slovakia’s Kazimir By Reuters

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(Reuters) - Loose European Central Bank policy is still required to aid the euro zone's recovery from a pandemic-induced double-dip recession, Slovak central bank chief Peter Kazimir said on Tuesday. "From the point of view of the European Central Bank's monetary policy ...

22 June

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Novacyt reports FY profit, books provision on DHSC dispute By Investing.com

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By Samuel Indyk Investing.com – Shares in Anglo-French company Novacyt (LON:NCYT) were trading higher on Tuesday after announcing it had achieved a profitable FY 2020 amid a surge in demand for Covid tests. The diagnostics company said it developed and launched 10 new products to support laboratories and clinicians testing for Covid-19 which helped provide a 20x revenue increase from £11.5mln in 2019 to £277.2mln in 2020. The company’s operating profit increased to £167.4mln compared to a loss of £1.6mln in 2019. Following a strong year of cash generation, the group ended the financial year debt...

22 June

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London’s FTSE 100 gains on energy boost, hopes of record-low interest rates By Reuters

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By Shashank Nayar (Reuters) - British shares rose on Tuesday as investors hoped that the central bank will keep interest rates at record lows despite a recent rise in inflation, while heavyweight energy shares tracked a jump in oil prices. The benchmark FTSE 100 index climbed 0.2%, with Melrose being the among top gainers on its plans to return about 730 million pounds ($1.01 billion) in cash to its shareholders. The energy index was among the top gainers, rising 2.03%, with heavyweights Royal Dutch Shell (LON:RDSa) and BP (LON:BP) being the top boost to...

22 June

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EU top court hands win to YouTube in user copyright fight By Reuters

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By Foo Yun Chee LUXEMBOURG (Reuters) - Europe's top court on Tuesday said that Google (NASDAQ:GOOGL)'s YouTube and other online platforms are not liable for copyright-infringing works uploaded by users onto their platforms under certain conditions. The case marks the latest development in a long-running battle between Europe's $1 trillion creative industry and online platforms, with the former seeking compensation or action from the latter for unauthorised works that are uploaded. YouTube found itself in the dock after Frank Peterson, a music producer, sued the company and Google in Germany over the uploading to YouTube by...

22 June

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Powell Repeats Inflation Pressures Should Subside Toward Goal By Bloomberg

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(Bloomberg) -- Federal Reserve Chair Jerome Powell said inflation had picked up but should move back toward the U.S. central bank’s 2% target once supply imbalances resolve. “Inflation has increased notably in recent months,” Powell said in written remarks prepared for his Tuesday testimony before the House Select Subcommittee on the Coronavirus Crisis, citing increases in oil prices and a “rebound” in spending as the U.S. economy re-opens. “As these transitory supply effects abate, inflation is expected to drop back toward our longer-run goal,” he said. Powell’s remarks were largely a repeat of his opening...

22 June

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Analysis: Investors focus on central bank speakers after extreme market moves By Reuters

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By Saqib Iqbal Ahmed, Kate Duguid and Lewis Krauskopf NEW YORK (Reuters) - With all eyes on the U.S. central bank this week, some investors are looking to a parade of Federal Reserve speakers to calm market volatility, saying the reaction to the Fed's June meeting was too extreme. The Fed last week signalled a potentially tougher stance on inflation and shifted projections for its first two rate hikes into 2023, sparking a selloff in U.S. stocks, boosting the dollar and flattening the Treasury yield curve in its fastest re-shaping since March 2020, according to Citi...

22 June

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UK government borrowing falls as recovery helps tax take By Reuters

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LONDON (Reuters) - British public borrowing fell in May from sky-high levels of a year earlier when the government was ramping up a huge spending response to the coronavirus crisis, and there are signs that the recent recovery in the economy was boosting tax revenues. Borrowing excluding public sector banks totalled 24.3 billion pounds ($33.8 billion) in May, down from 43.8 billion pounds in the same month in 2020, the Office for National Statistics said. Economists polled by Reuters had on average expected a shortfall of 26.0 billion pounds. The May figure took the deficit for...

Меню

Exclusive-Google drops engineering residency after protests over ‘inequities’ By Reuters

Climate Transition Capital launches $226 million SPAC By Reuters

Recovering tax take helps narrow UK public borrowing chasm By Reuters

ECB policy needs to remain ‘very, very loose’: Slovakia’s Kazimir By Reuters

Novacyt reports FY profit, books provision on DHSC dispute By Investing.com

London’s FTSE 100 gains on energy boost, hopes of record-low interest rates By Reuters

EU top court hands win to YouTube in user copyright fight By Reuters

Powell Repeats Inflation Pressures Should Subside Toward Goal By Bloomberg

Analysis: Investors focus on central bank speakers after extreme market moves By Reuters

UK government borrowing falls as recovery helps tax take By Reuters

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