02 July

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Ford quarterly U.S. auto sales rise on strong SUV, EV demand By Reuters

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(Reuters) - Ford Motor (NYSE:F) Co's U.S. auto sales in the second quarter rose 9.6% to 475,327 units, benefiting from strong SUV and EV demand in June, the No.2 U.S. automaker said on Friday. The company posted a 117% rise in U.S. electric and hybrid vehicle sales for June. Ford-branded SUV sales rose 37% in June while its Lincoln SUV sales increased 23.3%. Ford sold 12,975 units of its Mustang Mach-E SUV in the first six months of this year. The company is poised to launch the electric version of its best-selling F-150 pickup in 2022....

02 July

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Chipotle Gains As UBS Believes All Ingredients In Place For Upside By Investing.com

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By Dhirendra Tripathi Investing.com – Chipotle (NYSE:CMG) rose 1.5% Friday as UBS reiterated its buy on the stock with a $1,700 target, citing multiple factors for its bullish call. Analyst Dennis Geiger’s target translates into an upside of almost 9% from the stock’s current level of $1,562. According to Geiger, the chain has a lot going for it, starting with the 3.5% to 4% price increases it has taken with more hikes likely in the fourth quarter. Recovering dine-in traffic, elevated digital sales, new product launches and other improvements are contributing to Chipotle’s competitive momentum, according...

02 July

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Exclusive-EU’s Vestager warns Apple against using privacy, security to limit competition By Reuters

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By Foo Yun Chee BRUSSELS (Reuters) - Europe's tech chief Margrethe Vestager on Friday warned iPhone maker Apple (NASDAQ:AAPL) against using privacy and security concerns to fend off competition on its App Store, reasons CEO Tim Cook gave for not allowing users to install software from outside the Store. Vestager, who is also the European Commission's executive vice president, last year proposed rules called the Digital Markets Act (DMA) that would force Apple to open up its lucrative App Store so that users can download apps from the internet or third-party app stores in a...

02 July

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Long-Term Stock Exchange CEO says dual-class stock critics ‘lost the argument’ By Reuters

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By Echo Wang and Jessica DiNapoli (Reuters) - Critics of corporate stock structures involving more than one class of shares "lost the argument," Long-Term Stock Exchange CEO Eric Ries told Reuters, even as many investors he seeks to attract object to companies adopting them. Silicon Valley-based LTSE launched last year, pitching itself as a platform for companies to list and appeal to long-term investors focused on environmental, social and corporate governance (ESG) issues. It asks companies to commit to disclosures on their environmental and social impact, as well as their executives' compensation and long-term strategy. On...

02 July

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Hurricane Elsa cuts power, blows roofs off in Barbados By Reuters

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By Robert Edison Sandiford CHRIST CHURCH, Barbados (Reuters) - Hurricane Elsa triggered power outages, blew the roofs off homes, knocked down trees and caused flooding in areas of the island-nation of Barbados on Friday, according to a Reuters witness. Elsa strengthened into a hurricane earlier in the day and was about 40 miles (64 km) west of Barbados, blowing maximum sustained winds of 75 miles per hour (120 km/h), the U.S. National Hurricane Center (NHC) said. The NHC said it activated a hurricane warning for Barbados, St. Lucia and St. Vincent and the Grenadines, meaning...

02 July

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Didi Tumbles on China Cybersecurity Review 2 Days After IPO By Bloomberg

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(Bloomberg) -- Didi Global Inc. tumbled Friday after China said it’s starting a cybersecurity review of the ride-hailing company just two days after it pulled off one of the biggest U.S. stock market debuts of the past decade. The move is to prevent data security risks, safeguard national security and protect public interest, according to a statement from the Cyberspace Administration of China. Didi, which only started trading on Wednesday in New York after an initial public offering, fell 8.8% to $14.95 as the market opened. The surprise probe by China’s internet regulator piles on the...

02 July

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Ford Slips On Missing Expectations As U.S. June Vehicle Sales Fall 27% By Investing.com

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By Dhirendra Tripathi Investing.com – Ford stock (NYSE:F) dipped 0.5% during Friday’s trading as its U.S. vehicle sales in June fell 26.9% from a year ago to 115,789 units. The drop was a combination of a sharp fall in car sales, which as such form a miniscule part of Ford’s monthly sales, and a big drop in truck sales as well. They comprise more than half of those sales. Car sales fell nearly 82% and those of trucks were down 27%. The transaction price of $47,800 for each Ford vehicle was up 15.5% or $6,400 from...

02 July

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UK’s Johnson rebuffs Merkel over COVID risk at Wembley soccer matches By Reuters

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LONDON (Reuters) -British Prime Minister Boris Johnson rebuffed concerns raised by German Chancellor Angela Merkel, during a visit to Britain, that big crowds at upcoming Euro 2020 soccer matches in London could accelerate the spread of COVID-19. Johnson, speaking alongside Merkel at a joint news conference, said he did not plan to order a reduction in crowds attending the remaining tournament matches at Wembley Stadium. Crowd capacity at Wembley will be increased to more than 60,000 fans for the semi-finals and final of Euro 2020 under a pilot scheme announced last week. "Of course we'll follow...

02 July

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India joins global consensus framework to tax multinational firms By Reuters

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NEW DELHI (Reuters) - India has joined a global consensus framework deal to tax multinational companies, the government said on Friday, an effort backed by the United States. Officials from 130 countries, including G20 nations and OECD members, agreed on Thursday in Germany's business hub of Frankfurt to the broad outlines for an overhaul of rules for taxing international companies. "The principles underlying the solution vindicate India's stand," the government said in a statement. It listed advantages such as a greater share of profits for the markets, consideration of demand-side factors in profit allocation and...

02 July

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GSK rejects activist Elliott’s demands for board and consumer business By Reuters

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By Pushkala Aripaka and Ludwig Burger (Reuters) -GSK's board on Friday rejected Elliott's demands that the British company change its board and sell its consumer healthcare arm after separating it from its pharma business, a day after strongly worded proposals from the activist investor. "The Board strongly believes Emma Walmsley is the right leader of New GSK and fully supports the actions being taken by her and the management team," GSK said on Friday, referring to the core pharmaceuticals and vaccine business. It added that support for GSK's strategy and leadership was shown...

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News

Ford quarterly U.S. auto sales rise on strong SUV, EV demand By Reuters

Chipotle Gains As UBS Believes All Ingredients In Place For Upside By Investing.com

Exclusive-EU’s Vestager warns Apple against using privacy, security to limit competition By Reuters

Long-Term Stock Exchange CEO says dual-class stock critics ‘lost the argument’ By Reuters

Hurricane Elsa cuts power, blows roofs off in Barbados By Reuters

Didi Tumbles on China Cybersecurity Review 2 Days After IPO By Bloomberg

Ford Slips On Missing Expectations As U.S. June Vehicle Sales Fall 27% By Investing.com

UK’s Johnson rebuffs Merkel over COVID risk at Wembley soccer matches By Reuters

India joins global consensus framework to tax multinational firms By Reuters

GSK rejects activist Elliott’s demands for board and consumer business By Reuters

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