08 June

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Generali drops out from NN’s asset manager sale – sources By Reuters

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LONDON (Reuters) -Italy's top insurer Assicurazioni Generali (MI:GASI) has dropped out of the race to buy the asset management arm of Dutch rival NN Group NV, two sources familiar with the matter told Reuters. Generali and Deutsche Bank (DE:DBKGn)'s asset management unit DWS were among suitors that last week filed non-binding bids for the company which oversees assets linked to NN's life insurance products, sources had said. But the people on Tuesday said Generali had decided to quit the process, which is expected to be very competitive. Generali declined to comment while NN...

08 June

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EU regulator does not expect approval for CureVac vaccine before August – source By Reuters

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By Andreas Rinke FRANKFURT (Reuters) - The European Medicines Agency (EMA) does not expect to make a decision on the approval of German biotech group CureVac's COVID-19 vaccine before August, an official at Germany's health ministry familiar with the matter told Reuters. The source said German health minister Jens Spahn had provided the update on the EMA's view on the timing of the review on Monday in a call with his regional state counterparts. The health ministry declined to comment. CureVac did not immediately respond to a request for comment, while the EMA said it would...

08 June

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ECB Is Aligning With Fed in Double Act to Keep Stimulus Flowing By Bloomberg

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(Bloomberg) -- European Central Bank policy makers have all the evidence they need to keep in place their ultra-loose monetary stimulus when they meet on Thursday, thanks in part to their opposite numbers at the Federal Reserve. Despite a faster U.S. economic rebound from the pandemic and far higher inflation than in the euro zone, Fed officials have signaled they won’t slow bond buying at their own decision a week later. Their reasoning? They still can’t be sure that the recovery is entrenched enough to be self-sustaining. That’s a useful guide for the ECB, whose economy...

08 June

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European debt agencies prepared for ECB tapering – Portugal debt agency head By Reuters

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LONDON (Reuters) - Debt management agencies in the euro area are prepared for the day the European Central Bank starts to unwind its pandemic emergncy bond purchases, the head of Portugal's debt management office said on Tuesday. Cristina Casalinho, chief executive officer of the Portuguese treasury and debt management agency, said debt agencies had taken advantage of the low interest rate environment to extend the average maturities of their debt profiles, providing a buffer against rising bond yields. "We are preparing for that, all the DMOs have prepared for the day the ECB tapers,"...

08 June

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Cisco to launch new features for Webex By Reuters

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STOCKHOLM (Reuters) - Cisco Systems Inc (NASDAQ:CSCO) said on Tuesday it would launch a set of new features for Webex, ranging from background noise cancellation to adding polls and quizzes to make meetings more interactive. Conferencing platforms such as Webex, Zoom and Microsoft (NASDAQ:MSFT) Teams have seen a surge in usage as the coronavirus pandemic has spurred a seismic shift to online working, learning and socialising. Cisco, which also unveiled a new Webex logo, said its new hybrid work suite would be as much as 40% cheaper than a la carte. The company...

08 June

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Ford to offer new Maverick compact pickup standard as hybrid By Reuters

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By Ben Klayman DETROIT (Reuters) - Ford Motor (NYSE:F) Co said on Tuesday its new Maverick compact pickup truck will have a gasoline-electric hybrid powertrain as standard equipment, a technology choice aimed at keeping the vehicle's starting price below $20,000. Ford expects the hybrid version of the 2022 Maverick to make up about 40% of demand when it goes on sale this fall and the technology was critical to hitting the targeted starting price, Jim Baumbick, Ford's vice president in charge of product planning, said in an interview. A gasoline-powered engine will be sold as an...

08 June

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Financial Times, New York Times, Bloomberg News websites down By Reuters

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(Corrects spelling of Financial Times in headline, paragraph 1) (Reuters) - Multiple websites operated by news outlets including the Financial Times, the New York Times and Bloomberg News were down across the globe on Tuesday. Separately, Amazon.com Inc (NASDAQ:AMZN)'s retail website also seemed to face an outage. Amazon was not immediately available to comment. The issue affecting the sites was not immediately clear. ...

08 June

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Strong mortgage volumes push Paragon’s interim profit to record peak By Reuters

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(Reuters) - Paragon Banking Group posted a record first-half underlying profit on Tuesday, boosted by a bounce back in its lending volumes from a pandemic-hit 2020, prompting the lender to set out a 40 million pound ($56.60 million) buyback plan. The London-listed company said its underlying profit for the six months ended March 31 surged 45% to 82.9 million pounds ($117.30 million) from 57.2 million pounds a year earlier, with total loan book growing by 2.5% to 12.82 billion pounds. Shares in Paragon were up 5% at 5.37 pounds by 0710 GMT. The lender said it...

08 June

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First bond sale backing EU recovery fund imminent – EU Commission By Reuters

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By Yoruk Bahceli (Reuters) - The first bond sale to finance the European Union's coronavirus recovery fund is expected "imminently", the European Commission said in an investor meeting on Tuesday. The EU last week sent a request to 11 of its primary dealer banks inviting them to submit proposals for the transaction and the deal is expected in the "coming days", Niall Bohann, a director of the European Commission's budget directorate, said at the meeting. The EU will sell up to 800 billion euros of bonds under the programme to finance grants and loans...

08 June

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Bank of England launches climate stress test for banks and insurers By Reuters

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LONDON (Reuters) - The Bank of England on Tuesday set out its first comprehensive stress test of the ability of the British financial system to cope with climate change, saying the results will not be used to determine capital requirements. The test will scrutinise the resilience of the country's biggest banks and insurers to stresses from the shift to a net zero-carbon economy over coming decades as well as the impact of extreme weather. "The end result will be more robust management of climate related financial risks across the sector," BoE Governor Andrew Bailey said in...

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Generali drops out from NN’s asset manager sale – sources By Reuters

EU regulator does not expect approval for CureVac vaccine before August – source By Reuters

ECB Is Aligning With Fed in Double Act to Keep Stimulus Flowing By Bloomberg

European debt agencies prepared for ECB tapering – Portugal debt agency head By Reuters

Cisco to launch new features for Webex By Reuters

Ford to offer new Maverick compact pickup standard as hybrid By Reuters

Financial Times, New York Times, Bloomberg News websites down By Reuters

Strong mortgage volumes push Paragon’s interim profit to record peak By Reuters

First bond sale backing EU recovery fund imminent – EU Commission By Reuters

Bank of England launches climate stress test for banks and insurers By Reuters

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