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15 June
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Oracle quarterly revenue beats estimates on strong cloud demand By Reuters

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(Reuters) - Oracle Corp (NYSE:ORCL) beat Wall Street estimates for fourth-quarter revenue on Tuesday, helped by its cloud product and software licensing sales as people worked remotely. Oracle's cloud platform, which competes with Microsoft (NASDAQ:MSFT)'s Azure and Amazon (NASDAQ:AMZN) Web Services, has benefited from businesses opting for hybrid-work models. Total revenue rose 8% to $11.23 billion in the quarter ended May 31. Analysts were expecting revenue of $11.04 billion, according to IBES data from Refinitiv. Revenue at Oracle's largest unit, cloud services and license support, rose 8% to $7.39 billion during the quarter....

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15 June
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Go boldly to cut red tape after Brexit, UK lawmakers’ report urges By Reuters

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By Huw Jones LONDON (Reuters) -Trialling a digital pound, encouraging driverless cars and building on COVID vaccine success by cutting red tape would boost Britain's growth after Brexit, a report commissioned by Prime Minister Boris Johnson recommended on Tuesday. The report, produced by a taskforce of Conservative lawmakers, chaired by pro-Brexit lawmaker Iain Duncan Smith, set out a "bold new UK regulatory framework", and reforms for key sectors and how they could be implemented. Rules should be as simple, agile and proportionate as possible, the 130-page report said, with, for example, financial services needing to be...

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15 June
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Americans are curious about electric trucks, but low cost, durability come first – Reuters/Ipsos poll By Reuters

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By Tina Bellon (Reuters) - While most Americans expect electric vehicles eventually to dominate the nation's roadways, many have greeted the first battery-powered models with skepticism, expressing concerns about the potential costs and inconveniences of owning such vehicles, a Reuters/Ipsos poll showed. Automakers have already recognized the challenge and said they plan to market future battery-powered models by touting their performance and long-term cost savings over environmental benefits. Vehicle manufacturers need to win over more rural Americans and Republicans, with the survey showing those groups express less enthusiasm than others for electric vehicles. Vehicle electrification,...

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15 June
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S&P 500 Struggles for Direction After Hitting Fresh Record; Fed Eyed By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 struggled for direction Tuesday, paced by decline in tech as investors grow wary of placing bullish bets on growth stocks ahead of the Federal Reserve's decision. The S&P 500 fell 0.11%, though remained close to its record high 4,257.19. The Dow Jones Industrial Average was down 0.16%, or 56 points, and the Nasdaq Composite was down 0.59%. The Federal Reserve's two-day meeting is expected to culminate Wednesday in an unchanged decision on interest rates and monthly bond purchases. But fresh clues on the central bank's thinking on inflation...

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15 June
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U.S. IPOs hit annual record in less than six months By Reuters

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By Anirban Sen and Krystal Hu (Reuters) - Wall Street's record-breaking run for stock market flotations shows no signs of slowing down. With more than six months until the year ends, U.S. initial public offerings have already totalled $171 billion, eclipsing the 2020 record of $168 billion, according to data from Dealogic. Driving the IPO rush are sky-high corporate valuations in the stock market, inflated by the Federal Reserve's low-interest rates and monetary stimulus in the wake of the COVID-19 pandemic. This has fuelled a wave of speculative frenzy that benefit not just traditional companies going...

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15 June
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FTSE closes near 16-month high, Brent closes in on $74, Bitcoin hovers near $40K By Investing.com

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Key Points FTSE 100 closing price of 7169.77, +0.32% Crude prices gain as some call for $100 oil UK labour market improving but GBP falls Bitcoin hovers near $40K By Samuel Indyk Investing.com – The FTSE 100 finished higher for the 7th day of eight and 10th of the last 12 as another rise in energy stocks supported the index. Some of the domestic travel & leisure names also performed well with some of the worst performers yesterday staging a rebound. Cinema chain Cineworld (LON:CINE) and Restaurant Group (LON:RTN) were two of the best...

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15 June
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Consumer staples, energy stocks boost FTSE 100; delayed reopening cap gains By Reuters

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By Devik Jain and Amal S (Reuters) - London's FTSE 100 equity index ended higher on Tuesday, lifted by gains in consumer staples and energy stocks, although a delay in lifting remaining COVID-19 restrictions in England curbed sentiment across the overall market. The blue-chip index rose 0.4% to its highest close since February 2020 highs. Dollar-earning consumer staples stocks, including Unilever (LON:ULVR), Reckitt Benckiser Group, British American Tobacco (LON:BATS) and Diageo (LON:DGE) Plc gained between 0.58% and 1.77%, on the weaker pound. Energy stocks gained 0.32% as oil majors including...

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15 June
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Analysis: Nvidia’s closing of $40 billion Arm deal could hinge on Europe By Reuters

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By Stephen Nellis and Foo Yun Chee (Reuters) - Nvidia Corp may not be able to meet a March 2022 deadline for closing its $40 billion acquisition of British chip technology firm Arm Ltd due to European regulators' reluctance to consider the case until after the summer holidays, people familiar with the matter told Reuters. Nvidia announced the Arm deal last year, sparking an immediate backlash in the semiconductor industry, where Arm has long been a neutral player licensing key intellectual property to customers who are otherwise intense rivals, including Qualcomm (NASDAQ:QCOM) Inc, Samsung Electronics...

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15 June
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U.S. Homebuilder Sentiment Falls to 10-Month Low on Cost Concern By Bloomberg

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(Bloomberg) -- Confidence among U.S. homebuilders declined in June to a 10-month low as elevated costs continued to dampen demand for new homes. A gauge of builder sentiment fell to 81 this month from 83, National Association of Home Builders/Wells Fargo data showed Tuesday. The median forecast in a Bloomberg survey of economists called for no change from a month earlier. The decline in sentiment indicates that continued elevated costs for some building materials and labor are keeping some buyers out of the once red-hot U.S. housing market. Despite the easing in confidence, the gauge...

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15 June
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Bank of England sheds light on reform of insurance solvency rules By Reuters

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LONDON (Reuters) - Britain's review of insurance sector rules inherited from the European Union will not increase policyholder protections but could increase reliance on stress testing for determining capital levels, the Bank of England said on Tuesday. "It’s our view that, in the round, the current regime provides about the right amount of protection for policyholders," Anna Sweeney, BoE executive director for insurance, told a JP Morgan European Insurance conference. ...

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