09 July

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EU Says U.K. Owes It 47.5 Billion Euros for Post-Brexit Payment By Bloomberg

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(Bloomberg) -- The European Union concluded that the U.K. owes it 47.5 billion euros ($56.2 billion) as part of the Brexit settlement, a higher figure than the U.K. had originally estimated. The EU assessment, which was published in a budget document, is aimed at reflecting the U.K.’s ongoing commitments to EU programs it’s still benefiting from, as well as other obligations to the bloc. The bulk of funds are due to the EU in the coming years. The accounting could trigger new discussions with the U.K., which estimated in 2018 that the total bill would...

08 July

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ECB to flex its financial muscle in climate change fight By Reuters

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By Balazs Koranyi and Mark John FRANKFURT (Reuters) - The European Central Bank will take greater account of climate change in its core policy decisions, in the latest move by one of the world's biggest central banks to curb carbon emissions. Europe's most powerful financial authority made its announcement before the launch next week of a package of measures by the European Union, which is striving to lead the world in greening the economy. ECB President Christine Lagarde, who has spoken passionately about the need for climate action and shared stages with green campaigners such as...

08 July

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Booze, burgers and bangers – UK supermarkets brace for Euro 2020 final frenzy By Reuters

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LONDON (Reuters) - Soaring demand for beer, soft drinks, salads and barbecue food as England supporters prepare for Sunday's Euro 2020 final is putting more pressure on supermarket supply chains already creaking from a shortage of lorry drivers. British supermarket groups have this month warned of gaps on shelves with demand for food and drink exceeding expectations during the month long soccer tournament, as families continue to eat more at home despite the relaxation of COVID-19 restrictions on hospitality openings. With England playing Italy on Sunday evening in its first major soccer tournament final...

08 July

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Canada shares lower at close of trade; S&P/TSX Composite down 1.45% By Investing.com

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Investing.com – Canada equities were lower at the close on Thursday, as losses in the Materials, Financials and Industrials sectors propelled shares lower. At the close in Toronto, the S&P/TSX Composite lost 1.45% to hit a new 1-month low. The biggest gainers of the session on the S&P/TSX Composite were Parex Resources Inc (TSX:PXT), which rose 5.51% or 1.14 points to trade at 21.83 at the close. Interfor Corp (TSX:IFP) added 2.86% or 0.87 points to end at 31.31 and Canfor Corporation (TSX:CFP) was up 2.62% or 0.73 points to 28.60 in late trade....

08 July

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ECB tweaks inflation target, bolsters climate role By Reuters

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By Balazs Koranyi and Mark John FRANKFURT (Reuters) - The European Central Bank set a new inflation target on Thursday and carved out a major role in the fight against climate change, embarking on a fundamental transformation of Europe's most powerful financial institution. With inflation having undershot its target for nearly a decade, ECB President Christine Lagarde has driven an 18-month deep dive into the inner workings of the bank, challenging even core principles of central banking in the hopes of resetting strategy and bolstering credibility. In the key conclusion of the review, the...

08 July

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Ecologists take on Slovenian government in water resources referendum By Reuters

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LJUBLJANA (Reuters) - Slovenia will hold a referendum on Sunday on legislative changes which ecologists say open the way to construction projects by the sea, lakes and rivers that would threaten the environment. The legally-binding nationwide vote in the Alpine country of 2 million was forced through by environmentalists after parliament approved amendments to Slovenia's water law in March. Prime Minister Janez Jansa's conservative government says the amendments are intended to secure more funds for protecting lakes and rivers, strengthen flood defences and tighten construction regulations. "The other (aim) is to ensure that only buildings...

08 July

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FTSE tumbles in global stock rout, Cryptos lower By Investing.com

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Key Points FTSE 100 closing price of 7034.04, -1.64% Stocks fall in global rout Yields drop on growth fears Oil falls as markets digest OPEC+ decision Bitcoin falls below $33,000 By Samuel Indyk Investing.com – The FTSE 100 tumbled on Thursday alongside a sell-off in most of the major global stock indices. The blue-chip index dropped back below 7,000 for the first time since 21st June amid fears that the global economic recovery could be set to stall, although closed back above that level. Part of the fear of a slowdown stems from an increase in...

08 July

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UK watchdog slaps Lloyds with $124 million fine over home insurance renewals By Reuters

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(Reuters) - Britain's financial watchdog said on Thursday it has levied a fine of 90 million pounds ($124 million) on several insurance units of Lloyds Banking Group (LON:LLOY) for miscommunicating home insurance renewal policies to customers between 2009 and 2017. ($1 = 0.7264 pounds) ...

08 July

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German region to fine Tesla for illegal construction By Reuters

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BERLIN (Reuters) - A German regional authority said it was preparing to fine Tesla for illegal building activity on the site of its planned new car factory near Berlin. The environment ministry for Brandenburg, the state that surrounds Berlin and in which the factory will be located, had found that Tesla had constructed tanks on the territory for which it had no authorisation, wrote Tagesspiegel newspaper, which first reported the fine. The company was banned from using the tanks it had already built, the newspaper added. Tesla was not immediately available for comment. ...

08 July

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Stellantis makes 30 billion euro bet on electric vehicle market By Reuters

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By Giulio Piovaccari MILAN (Reuters) -Stellantis, the world's No. 4 automaker, said on Thursday it plans to invest more than 30 billion euros ($35.54 billion) through 2025 on electrifying its vehicle lineup. The company, which was formed in January from the merger of Italian-American automaker Fiat Chrysler and France's PSA, said its strategy will be supported by five battery plants in Europe and North America as it gears up to compete with electric vehicle (EV) leader Tesla and other automakers globally. "This transformation period is a wonderful opportunity to reset the clock and start a...

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EU Says U.K. Owes It 47.5 Billion Euros for Post-Brexit Payment By Bloomberg

ECB to flex its financial muscle in climate change fight By Reuters

Booze, burgers and bangers – UK supermarkets brace for Euro 2020 final frenzy By Reuters

Canada shares lower at close of trade; S&P/TSX Composite down 1.45% By Investing.com

ECB tweaks inflation target, bolsters climate role By Reuters

Ecologists take on Slovenian government in water resources referendum By Reuters

FTSE tumbles in global stock rout, Cryptos lower By Investing.com

UK watchdog slaps Lloyds with $124 million fine over home insurance renewals By Reuters

German region to fine Tesla for illegal construction By Reuters

Stellantis makes 30 billion euro bet on electric vehicle market By Reuters

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