25 June

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Nike shares hit record high as sales get post-lockdown boost By Reuters

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By Aishwarya Venugopal (Reuters) - Shares of Nike Inc (NYSE:NKE) surged over 15% to a record high on Friday after the sportswear giant forecast full-year sales of more than $50 billion, riding on pent-up demand for sneakers and athletic gear from U.S. shoppers. The company's fourth-quarter revenue also nearly doubled, topping $12 billion for the first time and overshadowing a weaker-than-anticipated performance in its fast-growing China market. "The strong momentum in Nike's brand globally is more than offsetting pressure in China and supply chain constraints," Telsey Advisory analyst Cristina Fernandez said. A rapid vaccination...

25 June

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GlaxoSmithKline taps Goldman, Citi to advise on consumer unit spinoff – Bloomberg News By Reuters

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(Reuters) - GlaxoSmithKline Plc has hired two banks to help advise it on listing its consumer unit next year and on defense against a potential activist campaign from Elliott Investment Management, Bloomberg News reported https://www.bloomberg.com/news/articles/2021-06-25/glaxosmithkline-said-to-tap-goldman-citi-for-spinoff?sref=SCAzRb9t on Friday, citing people familiar with the matter. GSK is working with Goldman Sachs Group Inc (NYSE:GS) and Citigroup Inc (NYSE:C) on both fronts, the report added. Earlier this week, the company set out plans to turn its consumer healthcare arm into a separately listed company, in a move that will deliver an 8 billion pound ($11.10...

25 June

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John Wood Group unit to pay $18 million to settle bribery charges -U.S. Justice Department By Reuters

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WASHINGTON (Reuters) - Amec Foster Wheeler Energy Ltd, a subsidiary of UK-based engineering company John Wood Group Plc, has agreed to pay $18 million to resolve criminal charges stemming from a scheme to pay bribes to officials in Brazil, the U.S. Justice Department said on Friday. ...

25 June

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Ikonics Doubles On Merger With Bitcoin Miner TeraWulf By Investing.com

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By Dhirendra Tripathi Investing.com – Ikonics (NASDAQ:IKNX) more than doubled during Friday’s session as the company agreed to combine with bitcoin miner TeraWulf under a new holding company. The shares were later up 90.5% at $21.53 after hitting a high of $25. The new entity will be called Terawulf and will be listed on the Nasdaq. Ikonics investors will receive $5 in cash and one share of the new entity for every share they hold, coming to hold 2% stake in the combined company’s common stock once the deal is complete. Ikonics, a 65-year-old company with...

25 June

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Britain could face food shortages due to lorry driver crisis By Reuters

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LONDON (Reuters) - Britain could face gaps on supermarket shelves this summer because of a shortage of more than 100,000 heavy goods vehicle (HGV) drivers, caused by a combination of fallout from the COVID-19 pandemic and Brexit, industry leaders have warned. In a June 23 letter sent to Prime Minister Boris Johnson, they called for his personal intervention to allow access to European labour by introducing temporary worker visas for HGV drivers and adding them to a "shortage occupation list". They warned that without government help Britain's critical supply chains risked "failing at an unprecedented and...

25 June

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Canada court rejects Huawei CFO push for publication ban on new evidence in U.S. extradition case By Reuters

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By Moira Warburton VANCOUVER (Reuters) - Huawei Chief Financial Officer Meng Wanzhou's request for a publication ban on new evidence her legal team received from HSBC has been denied by a Canadian court in her U.S. extradition case, a lawyer involved in the case said on Friday. Meng, 49, was arrested in December 2018 for allegedly misleading HSBC about Huawei Technologies Co Ltd's business dealings in Iran, causing the bank to break U.S. sanctions. She faces a Canadian government extradition attempt on charges of bank fraud in the United States. Canadian prosecutors had fought her...

25 June

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FTSE finishes higher with travel stocks in focus, cryptos steady By Investing.com

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Key Points FTSE 100 closing price of 7135.47, +0.36% Airlines in focus after UK travel plans JD Sports shares benefit from Nike earnings Oil higher as attention turns to OPEC Cryptocurrencies steady heading into the weekend By Samuel Indyk Investing.com – Markets ended the week on a relatively quiet note with the FTSE 100 closing higher amid relatively light news flow. The index benefitted from Thursday’s news from the US that President Biden had reached an agreement on infrastructure spending with a group of Democrat and Republican senators. Once again, travel & leisure stocks...

25 June

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Paulson, BlackRock to Back Capital Hike for Greece’s Alpha By Bloomberg

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(Bloomberg) -- Billionaire John Paulson, Schroders (LON:SDR) Plc and BlackRock Inc (NYSE:BLK). are among the investors planning to participate in an 800 million-euro ($955 million) capital increase by Greek lender Alpha Bank set to run next week, people familiar with the matter said. The investors are betting the fresh capital will help Alpha strengthen its balance sheet and play a key role in funneling money from the European Union’s recovery program to borrowers. Greece is set to get 7.5 billion euros this year, out of a total 30.5 billion euros alloted...

25 June

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Summers Sees U.S. Inflation Ending 2021 ‘Pretty Close’ to 5% By Bloomberg

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(Bloomberg) -- Former Treasury Secretary Lawrence Summers predicted inflation will be running “pretty close” to 5% at the end of this year and that bond yields will likely rise as a result over the rest of 2021. “My guess is that at the end of the year inflation will, for this year, come out pretty close to 5%,” Summers told Bloomberg Television’s “Wall Street Week” with David Westin. “It would surprise me if we had 5% inflation with no effect on inflation expectations.” Summers, a paid contributor to Bloomberg, has repeatedly predicted massive monetary and...

25 June

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United Rentals Gains As UBS Sees Benefits From Infra Push By Investing.com

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By Dhirendra Tripathi Investing.com – United Rentals (NYSE:URI) gave up some gains but was still up 0.7% during Friday's session on an upgrade from UBS (NYSE:UBS) to buy from neutral. Analyst Steven Fisher believes the Biden administration’s $1 trillion infrastructure spending plan will drive a faster than expected recovery in the company’s business as construction activity accelerates. Fisher now sees the stock at $375, a 17.5% upside from the stock’s current level of $319. The analyst estimates that the $579 billion in incremental spending amounts to about 15% upside to current...

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Nike shares hit record high as sales get post-lockdown boost By Reuters

GlaxoSmithKline taps Goldman, Citi to advise on consumer unit spinoff – Bloomberg News By Reuters

John Wood Group unit to pay $18 million to settle bribery charges -U.S. Justice Department By Reuters

Ikonics Doubles On Merger With Bitcoin Miner TeraWulf By Investing.com

Britain could face food shortages due to lorry driver crisis By Reuters

Canada court rejects Huawei CFO push for publication ban on new evidence in U.S. extradition case By Reuters

FTSE finishes higher with travel stocks in focus, cryptos steady By Investing.com

Paulson, BlackRock to Back Capital Hike for Greece’s Alpha By Bloomberg

Summers Sees U.S. Inflation Ending 2021 ‘Pretty Close’ to 5% By Bloomberg

United Rentals Gains As UBS Sees Benefits From Infra Push By Investing.com

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