11 June

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Exclusive: Eli Lilly memo says firm did not make false statements to FDA By Reuters

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By Dan Levine and Marisa Taylor (Reuters) - A week before Eli Lilly (NYSE:LLY) disclosed to regulators that the U.S. Justice Department was investigating its New Jersey factory, the drugmaker told employees that its own inquiry, led by an outside law firm, found no evidence of wrongdoing there, according to a company memo reviewed by Reuters. On April 8, a group of employees filed an anonymous complaint internally alleging that an executive at its Branchburg, New Jersey, factory had altered documents required by the U.S. Food and Drug Administration. As Reuters reported last month, Lilly...

11 June

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G-7, Consumer Sentiment, Record Week: 3 Things to Watch By Investing.com

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By Christiana Sciaudone Investing.com -- Inflation, shminflation. Traders dismissed inflation data that came in above expectations to drive stocks higher on Thursday. It was the data everyone had been eyeing this week. The Labor Department said on Thursday its consumer price index rose 0.6% last month after edging up 0.9% in April. The uptick in consumer prices in May lifted the year-on-year increase in the CPI to 5% from 4.2% in April, the highest rate since the 1980s. Investors are going with the Fed's position that it's a passing phase. Starbucks (NASDAQ:SBUX) appears to be running...

11 June

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UK blue chips end higher as telecoms group BT surges on stake buy By Reuters

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By Sagarika Jaisinghani and Sruthi Shankar (Reuters) - Britain's blue-chip index closed slightly higher on Thursday, aided by gains in telecoms group BT and pharma majors, while doubts over the UK's reopening plans later this month hurt the domestically focused mid-cap index. Shares in BT Group (LON:BT) jumped 6.6% to hit their highest since January 2020 after telecoms billionaire Patrick Drahi's Altice Group bought a 12.1% stake worth about 2.2 billion pounds ($3.1 billion), making it the largest shareholder. "Altice is an established name in the telecoms space and the purchase of a 12% holding in...

11 June

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Statement from the ECB following policy meeting By Reuters

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FRANKFURT, June 10 (Reuters) - Following is the statement from the European Central Bank following its policy meeting. At today’s meeting, the Governing Council decided to confirm its very accommodative monetary policy stance: The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.50% respectively. The Governing Council expects the key ECB interest rates to remain at their present or lower levels until it has seen the inflation outlook robustly converge to a level sufficiently close to, but...

11 June

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Reopening U.S. economy heat up inflation; labor market recovery gaining traction By Reuters

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By Lucia Mutikani WASHINGTON (Reuters) - U.S. consumer prices rose solidly in May, leading to the biggest annual increase in nearly 13 years as a reopening economy boosted demand for travel-related services, while a global semiconductor shortage drove up prices for used motor vehicles. The pandemic's easing grip on the economy was also underscored by other data from the Labor Department on Thursday showing the number of Americans filing new claims for unemployment benefits fell last week to the lowest level in nearly 15 months. Vaccinations against COVID-19, trillions of dollars from the government and...

11 June

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S&P 500 Rides Falling Yields to Record Highs as Bond Bears Cower By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 closed at record highs Thursday, shrugging off the hottest pace of inflation in decades as Treasury yields slipped on signs bond bears are caving in on bets against the Federal Reserve. The S&P 500 rose 0.47% to close at a record high of 4,239.42 The Dow Jones Industrial Average was up 0.06%, or 19 points, and the Nasdaq Composite was up 0.78%. The Labor Department said on Thursday its consumer price index rose 0.6% last month after edging up 0.9% in April. The uptick in consumer prices in May...

11 June

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Apple hires former BMW, Canoo executive for car project By Reuters

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(Reuters) -Apple Inc has hired Ulrich Kranz, a former senior executive at BMW AG's electric car division, to help its vehicle initiatives, Apple (NASDAQ:AAPL) confirmed on Thursday. Kranz, who was most recently the chief executive of electric vehicle startup Canoo Inc , will report to Apple veteran Doug Field, who led development of Tesla Inc's mass-market Model 3 and now runs Apple's car project, the report said. Bloomberg reported the news earlier on Thursday.(https://bloom.bg/3zbslcq) The iPhone maker's automotive efforts, known as Project Titan, have proceeded unevenly since 2014 when Apple first started designing its own...

11 June

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Factbox-What are G7 countries pledging on vaccine doses? By Reuters

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(Reuters) - Group of Seven leaders are pledging to donate hundreds of millions of vaccines to poor countries. Following are the pledges so far: UNITED STATES U.S. President Joe Biden plans to buy and donate 500 million doses of the Pfizer (NYSE:PFE) coronavirus vaccine to more than 90 countries. He has also called on the world's democracies to do their part to help end the pandemic. U.S. drugmaker Pfizer and its German partner BioNTech will provide 200 million doses in 2021 and 300 million doses in the first half of 2022, which the...

10 June

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Exception to the rule? G7 deal on tax triggers carve-out talk By Reuters

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By Leigh Thomas PARIS (Reuters) - With the foundations for a global tax deal finally laid down by the G7, officials are limbering up for a clash over exemptions and other carve-outs for specific industries and special economic zones, with China at the centre. The Group of Seven wealthy, industrialised states agreed on June 5. to support a minimum corporate tax rate of at least 15% and how to share rights to tax the biggest companies operating across borders in their countries. But the official communique from G7 finance ministers made no mention of whether exceptions...

10 June

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UK and U.S. commit to settle civil aircraft dispute – joint statement By Reuters

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CARBIS BAY, England (Reuters) - Britain and the United States committed to settle a trade dispute over civil aircraft subsidies on Thursday in a joint statement issued by both countries following a meeting ahead of the G7 summit in England. "We commit to the rapid settlement of the Large Civil Aircraft dispute," said the statement, which was issued shortly after British Prime Minister Boris Johnson met U.S. President Joe Biden. "We will therefore work closely to identify and pursue opportunities to deepen our already extensive trade relationship." ...

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Exclusive: Eli Lilly memo says firm did not make false statements to FDA By Reuters

G-7, Consumer Sentiment, Record Week: 3 Things to Watch By Investing.com

UK blue chips end higher as telecoms group BT surges on stake buy By Reuters

Statement from the ECB following policy meeting By Reuters

Reopening U.S. economy heat up inflation; labor market recovery gaining traction By Reuters

S&P 500 Rides Falling Yields to Record Highs as Bond Bears Cower By Investing.com

Apple hires former BMW, Canoo executive for car project By Reuters

Factbox-What are G7 countries pledging on vaccine doses? By Reuters

Exception to the rule? G7 deal on tax triggers carve-out talk By Reuters

UK and U.S. commit to settle civil aircraft dispute – joint statement By Reuters

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