13 July

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Heavyweight banks push FTSE 100 higher after BoE scraps dividend curbs By Reuters

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(Reuters) - London's FTSE 100 rose on Tuesday as heavyweight banks jumped after the Bank of England scrapped dividend curbs, but worries over rising coronavirus infections kept gains in check. Banks gained 2%, the most among sectors, after the Bank of England scrapped pandemic-era curbs on dividends from HSBC, Barclays (LON:BARC) and other top lenders with immediate effect. The blue-chip FTSE 100 index rose 0.3%, with HSBC, Barclays and Natwest Group being the top boosts. The mid-cap FTSE 250 index gained 0.2%. British retailers climbed 0.5% after they reported a record annual increase...

13 July

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Bank of England scraps pandemic-era curbs on bank dividends By Reuters

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By Huw Jones and David Milliken LONDON (Reuters) - The Bank of England scrapped pandemic-era curbs on dividends from HSBC, Barclays (LON:BARC) and other top lenders with immediate effect on Tuesday, saying its stress test showed the sector is well capitalised to cope with the fallout from COVID on the economy. Bank of England Governor Andrew Bailey said that in recent months, the rapid rollout of the UK's vaccination programme has led to an improvement in the UK economic outlook. "But risks to the recovery remain. Households and businesses are likely to need continuing...

13 July

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As crackdown looms, South Korea’s defiant crypto fans dig in By Reuters

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By Joori Roh SEOUL (Reuters) - Yun Hae-ri, a 26-year-old South Korean cryptocurrency investor, has seen the value of a coin named Metadium nearly wiped out since she bought it in April. Like many South Korean retail investors, Yun has thousands of won in smaller cryptocurrencies, seen as alternatives to bitcoin, which have plummeted in value as regulators crack down on the sector. By Sept. 24, South Korea's numerous cryptocurrency exchanges will need to disclose risk management and partner with banks to ensure trading accounts are held by real people. The rules, analysts say, could result...

13 July

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Dollar tiptoes toward inflation, Fed rates test By Reuters

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By Tom Westbrook SINGAPORE (Reuters) - The dollar found support on Tuesday ahead of U.S. inflation data, with investors on edge over whether the figures may offer clues about the likely timing of tapering and interest rate hikes. Against the euro the greenback held a small Monday gain to trade at $1.1861, with the common currency also weighed after European Central Bank President Christine Lagarde hinted at a dovish shift to the rates outlook for Europe. Other majors were also largely steady early in the Asia session, as markets await the inflation data due at 1230...

13 July

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U.S. lawmakers ask for meeting on WTO waiver with Merkel during Washington visit By Reuters

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WASHINGTON (Reuters) - Nine Democratic U.S. lawmakers on Monday urged Germany to drop its "blockade" of a COVID-19 related waiver of intellectual property rights under global trade rules, and asked Chancellor Angela Merkel to meet with them during her visit to Washington. Representative Jan Schakowsky, part of the Democratic leadership in the House of Representatives; Representative Earl Blumenauer, who leads the trade subcommittee of the House Ways and Means Committee; and the other lawmakers said they were troubled that Germany was leading EU opposition to a proposed waiver being discussed at the World Trade Organization. "The...

13 July

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UK, European manufacturers want battery supply chain nearer home -survey By Reuters

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LONDON (Reuters) - British manufacturers and those in other parts of Europe want to move more of the supply chain for batteries used in electric cars and renewable energy away from China and closer to their plants, a survey showed on Tuesday. China dominates the processing of the minerals used in electric batteries, as well as making the cells and related components, with Japan and South Korea in a distant second and third place. But manufacturers in a survey of 200 European firms conducted by industrial prototyping company Protolabs https://www.protolabs.co.uk said they had grown more concerned...

13 July

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Biden administration asks courts to dismiss government appeals of TikTok ruling By Reuters

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By David Shepardson WASHINGTON (Reuters) -The Biden administration on Monday asked two federal appeals courts to dismiss the Justice Department's legal challenges to court rulings that barred a Trump-era effort to ban new downloads of Chinese-owned video-sharing app TikTok. Last month, President Joe Biden withdrew a series of executive orders issued by former President Donald Trump that sought to ban new downloads of WeChat, TikTok and other Chinese apps and ordered a new review. The Commerce Department on June 22 formally withdrew a list of prohibited transactions with ByteDance-owned TikTok and Tencent-owned WeChat issued in September...

13 July

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U.S. approves Blue Origin license for human space travel ahead of Bezos flight By Reuters

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By Eric M. Johnson and David Shepardson SEATTLE/WASHINGTON (Reuters) -The Federal Aviation Administration (FAA) said on Monday it approved a Blue Origin license to carry humans on the New Shepard launch system into space. Former Amazon.com (NASDAQ:AMZN) Chief Executive Jeff Bezos is set to fly to the edge of space on Blue Origin's maiden crewed voyage on July 20. Blue Origin is authorized to carry humans while its FAA license is valid through August and is approved to conduct these missions from its Launch Site One facility in Texas, the agency confirmed. Blue Origin was required to verify...

13 July

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Medium-Term Consumer Expectations Hold at 3.6% in Fed Survey By Bloomberg

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(Bloomberg) -- U.S. consumer inflation uncertainty remained elevated in June, according to a Federal Reserve Bank of New York survey released Monday. Consumers in June said they expected inflation to increase 3.6% over the next three years, unchanged from a month earlier. Still, the top quarter of respondents expected prices to climb 7% while the bottom quarter saw them rising 1.3%. That’s the largest gap in the New York Fed’s survey dating back to June 2013. Expected inflation over the coming year rose to a series-high of 4.8% in June from 4% the month before, New...

13 July

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EU holds up Hungary’s recovery money in rule-of-law standoff By Reuters

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By Gabriela Baczynska BRUSSELS (Reuters) -The European Union's executive missed its own deadline to sign off on billions of euros in economic recovery aid to Hungary, delaying its decision in an attempt to win rule-of-law concessions from Budapest. Hungary is set to receive 7.2 billion euros in EU stimulus funds meant to kickstart economic growth mauled by the coronavirus pandemic. The funds will start flowing once the Brussels-based European Commission accepts national plans on how to spend them to ensure digital and green transitions, among others goals. However, the Commission is using the money...

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News

Heavyweight banks push FTSE 100 higher after BoE scraps dividend curbs By Reuters

Bank of England scraps pandemic-era curbs on bank dividends By Reuters

As crackdown looms, South Korea’s defiant crypto fans dig in By Reuters

Dollar tiptoes toward inflation, Fed rates test By Reuters

U.S. lawmakers ask for meeting on WTO waiver with Merkel during Washington visit By Reuters

UK, European manufacturers want battery supply chain nearer home -survey By Reuters

Biden administration asks courts to dismiss government appeals of TikTok ruling By Reuters

U.S. approves Blue Origin license for human space travel ahead of Bezos flight By Reuters

Medium-Term Consumer Expectations Hold at 3.6% in Fed Survey By Bloomberg

EU holds up Hungary’s recovery money in rule-of-law standoff By Reuters

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