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30 June
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Britain lays out post-Brexit plan for new state subsidies scheme By Reuters

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LONDON (Reuters) - Britain said it wanted to help businesses to access state aid with a new and more flexible subsidy system, and that leaving the European Union would allow it to support domestic priorities like building green industry. The new system, which has previously been outlined by ministers, will be set out in legislation for the first time later on Wednesday. "When people ask 'what are the benefits of Brexit?' - this is it," business minister Kwasi Kwarteng said on Twitter. He criticised the EU system, which previously applied to Britain until it completed its...

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30 June
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Renault raises targets for share of electric vehicles By Reuters

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By Gilles Guillaume PARIS (Reuters) - Renault (PA:RENA) said on Wednesday that electric vehicles would account for up to 90% of the French carmaker's models by 2030, amping up its ambitions in a fast-growing sector where Volkswagen (DE:VOWG_p) has stolen a march on its rivals. Unveiling a new plan for electric vehicles (EVs), Renault Chief Executive Luca de Meo said Renault planned 10 new electric models by 2025 and that new, purpose-built electric car platforms would allow it to deliver vehicles at a lower cost. The previous target was for 90% of the Renault...

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30 June
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Hurricane Energy Chairman and directors resign ahead of general meeting By Investing.com

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By Samuel Indyk Investing.com – Hurricane Energy (LON:HUR) chairman and four non-executive directors have all resigned from the board with immediate effect. Chairman Steven McTiernan, along with John van der Welle, Sandy Shaw, Beverley Smith and Dr David Jenkins have all surrendered their positions ahead of a key vote on their positions at an upcoming meeting. Additionally, the company has announced Alan John Wright and David Ian Craik have been appointed to the board as non-executive directors. Wright will assume the position of interim chairman. Crystal Amber Fund, which owns more than 11% of the company’s...

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30 June
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Britain’s Dixons Carphone posts 34% profit jump as online sales help By Reuters

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LONDON (Reuters) - Dixons Carphone (LON:DC) posted a 34% rise in annual profit on Wednesday and said it would resume paying dividends after strong online sales helped the British electricals retailer offset store closures during the COVID-19 pandemic. The group, which trades as Currys PC World and Carphone Warehouse in the UK, reported an adjusted pretax profit of 156 million pounds ($216 million) for the year to May 1. That topped its guidance of 151 million pounds and the 116 million it earned in 2019-20 and came after it repaid government staff furlough support of 73...

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30 June
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Search of collapsed Florida building enters 7th day with 12 dead, 149 missing By Reuters

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By Gabriella Borter SURFSIDE, Fla. (Reuters) - Rescue crews toiling into a seventh day on Wednesday combed through shattered ruins of a collapsed Miami-area condominium tower where 12 people were confirmed dead as hope faded for 149 people missing and believed trapped in the rubble. Authorities have left open the possibility that survivors might be found in the debris after a major section of the 12-floor, 136-unit complex caved in on itself early last Thursday as residents slept. "The way I look at it, as an old Navy guy, is that when somebody is missing in...

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30 June
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EU drafts plan to tighten carbon market, expand it to shipping, cars, heating By Reuters

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By Kate Abnett BRUSSELS (Reuters) -The European Union wants to overhaul its carbon market to cut planet-warming emissions faster and put a price on pollution from shipping, road transport and heating systems in buildings, according to a draft document seen by Reuters on Wednesday. The bloc's executive European Commission will next month propose the biggest revamp of its emissions trading system (ETS) since the policy launched in 2005. The ETS forces power plants, factories and airlines running European flights to buy CO2 permits, creating a financial incentive to pollute less. The reforms are part of...

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30 June
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What inflation? Pandemic leaves emerging Asia’s consumer recovery behind By Reuters

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By Leika Kihara and Tom Westbrook TOKYO/SINGAPORE (Reuters) - Asia's once fast-growing economies are struggling with weak domestic demand that is keeping a lid on inflation in contrast to some developed markets, heightening the chance many central banks will forgo interest rate hikes this year. For investors and policymakers in Asian emerging markets, high and sometimes destabilising inflation has always gone hand in hand with strong growth underpinning their development. That has changed markedly, as slow vaccinations and a new wave of coronavirus infections delay economic recoveries in countries like Thailand, Indonesia, the Philippines and India....

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30 June
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Britain’s Asda launches one-hour ‘Express Delivery’ service By Reuters

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LONDON (Reuters) - Asda on Wednesday became the latest British supermarket group to launch an online service for delivery in an hour. The grocer, which trails market leader Tesco (LON:TSCO) and Sainsbury's in annual sales, said its new "Express Delivery" service will offer its full online range of over 30,000 products. The new rapid service has been launched at three Asda stores this week, it said, adding there is potential to quickly roll out the service to more stores if it proves popular with customers. Each delivery of up to 70 items will be...

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30 June
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Exclusive-Scandal-hit Credit Suisse considers creating single private bank -sources By Reuters

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By Oliver Hirt and Pamela Barbaglia ZURICH (Reuters) - Credit Suisse (SIX:CSGN) is considering centralising the management of its bankers to the world's wealthy, replacing a regional structure, three sources said, as part of efforts to fast-track an overhaul after a series of scandals. The Swiss bank and its board are looking to decide on a fresh strategy as soon as October after meeting in the mountain town of Bad Ragaz, two sources familiar with the thinking of senior executives said. Re-imagining the most prized part of Credit Suisse illustrates how deep this overhaul...

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30 June
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In one year, Hong Kong arrests 117 people under new security law By Reuters

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By Pak Yiu and Anand Katakam HONG KONG (Reuters) - Hong Kong authorities have arrested 117 people under a national security law imposed one year ago, charging more than 60, mostly democratic politicians, activists, journalists and students. On June 30, 2020, Beijing imposed the security law in Hong Kong following months of often-violent pro-democracy protests, effectively ending the unrest. The law punishes acts which China considers as subversion, secession, terrorism and collusion with foreign forces with up to life in prison. It entered into force as soon as it was published, just before midnight ahead of...

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