04 June

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Korea Eyes New Extra Budget as Central Bank Flags Stimulus Exit By Bloomberg

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(Bloomberg) -- South Korea is keeping its fiscal spigot open even as a quickening economic recovery prompts the central bank to signal it will rein in stimulus at some point. Finance Minister Hong Nam-ki said Friday the government will consider another extra budget to achieve a “full recovery” from the pandemic, which would mark the sixth such spending package since the onset of the crisis. A week earlier the central bank raised its growth forecast for the year to 4%, and flagged the need for a timely and orderly adjustment of record-low rates. The potential policy...

04 June

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Global M&A surges to record high for third straight month By Reuters

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By Patturaja Murugaboopathy and Gaurav Dogra (Reuters) - Global mergers and acquisition (M&A) activity hit a record high for the third straight month in May, driven mainly by low interest rates, soaring equities and higher dealmaking interest in sectors that have received a boost from the COVID-19 pandemic. According to Refinitiv data, the total value of pending and completed deals announced from the January-May period touched$2.4 trillion, an all-time record. Last month, $532.9 billion worth of deals were recorded, the highest for the month of May. Graphic - Global M&As announced in the first five months...

04 June

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Meituan Founder Donates $2.3 Billion Stake as Probe Persists By Bloomberg

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(Bloomberg) -- Meituan founder Wang Xing has donated a $2.3 billion stake in the Chinese food delivery giant to his own philanthropic foundation, joining other internet billionaires in giving back as Beijing mounts a crackdown on the tech sector. Meituan’s chairman and chief executive officer transferred 57.3 million shares to the organization, the company said in a filing late Thursday. That’s about a 10th of the billionaire’s stake in the company, worth HK$17.6 billion ($2.27 billion) based on its last close. The stock slid more than 3% in early Friday trade. Meituan is grappling with...

04 June

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Biden order bans investment in dozens of Chinese defense, tech firms By Reuters

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By Michael Martina and Karen Freifeld WASHINGTON (Reuters) - President Joe Biden signed an executive order on Thursday that bans U.S. entities from investing in dozens of Chinese companies with alleged ties to defense or surveillance technology sectors, a move his administration says expands the scope of a legally flawed Trump-era order. The Treasury Department will enforce and update on a "rolling basis" the new list of about 59 companies, which bars buying or selling publicly traded securities in target companies, and replaces an earlier list from the Department of Defense, senior administration officials...

04 June

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Apple working on iPad Pro with wireless charging, new iPad Mini – Bloomberg News By Reuters

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(Reuters) - Apple Inc (NASDAQ:AAPL) is working on a new iPad Pro with wireless charging and a redesigned iPad Mini in an attempt to build upon momentum for a category that saw improved sales during the pandemic, Bloomberg News reported on Friday. The company is looking to release the new iPad Pro in 2022 and the iPad Mini later this year, the report said https://bloom.bg/3g6Xq8D, citing people familiar with the matter. The iPhone maker thrived through the COVID-19 pandemic as home-bound consumers stocked up on electronic devices, with iPad sales notching a better-than-expected $7.8 billion last...

04 June

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U.S. job growth likely picked up in May, worker shortages still a challenge By Reuters

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By Lucia Mutikani WASHINGTON (Reuters) - U.S. job growth likely accelerated in May as vaccinations eased the pandemic's grip on the economy, but companies faced difficulties hiring, with millions of unemployed Americans at home because of childcare problems and generous unemployment checks, leaving open the chance for another letdown in job creation. The Labor Department's closely watched employment report on Friday could offer assurance that the recovery from the pandemic recession was on track after worker shortages also blamed on lingering fears over COVID-19 sharply restrained employment growth in April, which delivered roughly a quarter of...

04 June

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Tesla revises plans for German gigafactory with more details on product lines By Reuters

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FRANKFURT (Reuters) - Tesla on Thursday revised its application for a planned gigafactory in Europe to include details for plans to produce battery cells on site and an expansion of other production lines, German officials said. It also includes plans to reduce water consumption so that usage remains constant compared to earlier proposals despite the expansion. Tesla has sharply criticised the lengthy regulatory processes in Germany and has pushed back the factory's opening date. The agricultural and environment ministry of the state of Brandenburg had already flagged that Tesla would tweak its application for the construction...

04 June

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Facebook ready to commit to clear ad data access for partners, French watchdog says By Reuters

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By Mathieu Rosemain PARIS (Reuters) - U.S. social media giant Facebook (NASDAQ:FB) has offered to commit to providing its partners with clear and objective conditions of access to advertising inventories and ad campaign data, France's antitrust authority said on Thursday following an investigation. Facebook's proposed commitments followed a complaint by French online advertising group Criteo, which pointed to its withdrawal from the Facebook Marketing Partner (FMP) scheme in 2018 and alleged the U.S. giant's practices constituted denigrating conduct. FMPs are part of a group of more than 100 technology providers that offer advertisers services to...

04 June

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Dollar Jumps as Friday’s Job Report Holds Sway for Fed Taper Talks By Investing.com

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By Yasin Ebrahim Investing.com – The dollar jumped Thursday as positive labor market data stoked optimism for a strong monthly jobs report due Friday that will likely lay out the carpet for talks on tapering at the Federal Reserve's meeting later this month. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, added 0.70% to 90.53. "[T]omorrow's payrolls report … could be decisive for the Fed tapering discussion in two weeks time," Commerzbank (DE:CBKG) said in a note. The Federal Reserve has previously highlighted "sustained progress" as...

04 June

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Asia tracks Wall St lower as U.S. inflation bets perk up By Reuters

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By Kevin Buckland TOKYO (Reuters) - Asian stocks followed Wall Street lower on Friday as signs of a strengthening U.S. recovery boosted bets for higher inflation and an earlier tapering of Federal Reserve stimulus. U.S. Treasury yields jumped, lifting the dollar and hurting tech shares, after better-than-expected employment data overnight raised expectations for a strong reading for nonfarm payrolls on Friday, while a measure of service sector activity climbed to a record high. Japan's Nikkei fell 0.8% early in the Asian session, while MSCI's broadest index of Asia-Pacific shares outside Japan was off 0.3%. Chinese blue...

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Korea Eyes New Extra Budget as Central Bank Flags Stimulus Exit By Bloomberg

Global M&A surges to record high for third straight month By Reuters

Meituan Founder Donates $2.3 Billion Stake as Probe Persists By Bloomberg

Biden order bans investment in dozens of Chinese defense, tech firms By Reuters

Apple working on iPad Pro with wireless charging, new iPad Mini – Bloomberg News By Reuters

U.S. job growth likely picked up in May, worker shortages still a challenge By Reuters

Tesla revises plans for German gigafactory with more details on product lines By Reuters

Facebook ready to commit to clear ad data access for partners, French watchdog says By Reuters

Dollar Jumps as Friday’s Job Report Holds Sway for Fed Taper Talks By Investing.com

Asia tracks Wall St lower as U.S. inflation bets perk up By Reuters

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