23 June

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Bank of England wants tougher rules for bank takeovers after Greensill By Reuters

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By Huw Jones LONDON (Reuters) - Parliament should consider toughening up the rules on who can take control of a bank in light of what happened to Wyelands Bank following the collapse of Greensill Capital, Bank of England Deputy Governor Sam Woods said on Wednesday. Steel tycoon Sanjeev Gupta's metals-to-finance empire GFG Alliance took control of Wyelands Bank in 2016. Wyelands financed GFG Alliance that was closely linked to financing company Greensill Capital, which went bust earlier this year. Concerns emerged in 2018 over the way Wyelands was lending to GFG, Woods said. "The more...

23 June

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In Paris without tourists, LVMH unveils Samaritaine store revamp By Reuters

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By Silvia Aloisi PARIS (Reuters) - Luxury goods group LVMH (PA:LVMH) unveiled on Monday the revamped La Samaritaine, a 150-year-old department store designed to help it grab a greater slice of tourist spending once pandemic travel curbs are eased. After a seven-year makeover, the historic store will reopen to the public on June 23 and rival the likes of Galeries Lafayette, housing a hotel, restaurants and shops. Its reopening, originally scheduled for last year, was delayed by the coronavirus emergency. With contagion rates falling in most of Europe, France began to lift restrictions in mid-May...

23 June

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Ford Rises As Mustang Mach-E GT Exceeds EPA’s Regulatory Norms By Investing.com

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By Dhirendra Tripathi Investing.com – Ford Motor (NYSE:F) shares rose more than 3% in Wednesday’s trading after it said that its electric vehicles, namely Mustang Mach-E GT and Mustang Mach-E GT Performance Edition, had more than met the ranges set by the U.S. Environmental Protection Agency. Ford’s global director of battery electric vehicles Darren Palmer said he was pleased that more than half of the orders for the Mustang Mach-E GT are for the Performance Edition. The sportiest of Mach-E variants, Mustang Mach-E GT, will go 270 miles on a full battery. Mach-E GT Performance Edition...

23 June

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Reuters Events: EDF calls for funding legislation for new UK nuclear power plant By Reuters

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By Kate Holton LONDON (Reuters) - France's EDF (PA:EDF) called on the British government to deliver the legislation that would underpin the financing of a new nuclear plant, Sizewell C, saying it was now essential. Simone Rossi, the UK head of EDF, said in an interview at the Reuters Events: Global Energy Transition conference, that lots of progress had been made on multiple fronts but the legislation underpinning the new financing scheme was now needed. "I am led to believe it is quite possible to have this legislation included in the second session...

23 June

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FTSE fails to hold 7,100, GBP higher after PMI, Bitcoin bounces By Investing.com

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Key Points FTSE 100 closing price of 7077.4, -0.2% Oil names rally as crude hits multiyear highs Phoenix shares fall as Swiss Re cashes out half its stake GBP strong after PMI data Bitcoin rebounds after falling below $30,000 By Samuel Indyk Investing.com – The FTSE 100 finished lower after a late sell off, despite trading with early gains as the index attempts to reclaim last week’s Fed-induced losses. Oil & Gas names were strong after crude prices continued their march to multi-year highs. Brent touched $76.00 for the first time since October 2018...

23 June

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Swedish PM could form new government after Centre Party drops rent reform demand By Reuters

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By Anna Ringstrom and Simon Johnson STOCKHOLM (Reuters) - Swedish Prime Minister Stefan Lofven's hopes of surviving a political crisis looked brighter on Wednesday after his allies in the Centre Party said they would drop a contested proposal for rent reform. Lofven has led a fragile centre-left minority government of Social Democrats and Greens, supported by former political rivals the Centre Party and the Liberals, since 2018. The Centre and Liberals have pushed for rental reform, but the Left Party, whose support Lofven also needs, is against it and on Monday voted with the opposition to...

23 June

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Italy’s Draghi puts Vatican on guard over anti-homophobia bill By Reuters

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ROME (Reuters) - Prime Minister Mario Draghi put the Vatican on guard on Wednesday not to interfere with a parliamentary debate over a draft law designed to combat homophobia, saying Italy was a secular state. The Vatican earlier this month protested to Italy over the contested bill, saying that in its present form it could restrict the religious freedom of the Catholic Church in Italy. But Draghi, a practicing Catholic, said parliament was free to discuss laws and legislate. "Ours is a secular state, not a religious state," he told the upper chamber Senate. He...

23 June

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Carrier Gets Buy from Deutsche Bank on Potential By Investing.com

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By Christiana Sciaudone Investing.com -- Carrier Global (NYSE:CARR) traded slightly higher after getting a buy from Deutsche Bank (DE:DBKGn). Analyst Nicole DeBlase initiated coverage on the air conditioner maker with a price target of $53, StreetInsider reported. "Carrier ticks a lot of the boxes that investors care about right now," DeBlase wrote in a note. Among them: Significant non-residential construction exposure and an improving balance sheet. The company is also the cheapest HVAC stock that the firm covers and has attractive upside potential. Shares have more than doubled over the past 12...

23 June

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Airlines urged to tighten Airbus A320 checks after COVID storage By Reuters

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By Tim Hepher PARIS (Reuters) - Regulators have called for more rigorous checks when pulling some Airbus jets out of pandemic storage, following flawed cockpit readings that can suggest blocked sensors. Pilots rely on airspeed readings derived from external probes known as pitot tubes, which can become blocked by insect nests or dirt if they are not properly sealed during storage. The European Union Aviation Safety Agency (EASA) said in a safety directive covering the Airbus A320 family that "an increasing number of operational disruptions have been reported due to airspeed discrepancies" as they return to...

23 June

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U.S. June Manufacturing Index at Record High, Services Dip By Bloomberg

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(Bloomberg) -- A measure of U.S. manufacturing activity expanded in June at the fastest pace in records dating back to 2007, fueled by easing pandemic restrictions and a strengthening domestic economy. The IHS Markit flash index of purchasing managers at manufacturers increased for a fourth straight month to 62.6 from 62.1 a month earlier, the group reported Wednesday. The services measure fell to 64.8, though remains near record levels. “The early PMI indicators point to further impressive growth of the U.S. economy in June, rounding off an unprecedented growth spurt over the second quarter as a...

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Bank of England wants tougher rules for bank takeovers after Greensill By Reuters

In Paris without tourists, LVMH unveils Samaritaine store revamp By Reuters

Ford Rises As Mustang Mach-E GT Exceeds EPA’s Regulatory Norms By Investing.com

Reuters Events: EDF calls for funding legislation for new UK nuclear power plant By Reuters

FTSE fails to hold 7,100, GBP higher after PMI, Bitcoin bounces By Investing.com

Swedish PM could form new government after Centre Party drops rent reform demand By Reuters

Italy’s Draghi puts Vatican on guard over anti-homophobia bill By Reuters

Carrier Gets Buy from Deutsche Bank on Potential By Investing.com

Airlines urged to tighten Airbus A320 checks after COVID storage By Reuters

U.S. June Manufacturing Index at Record High, Services Dip By Bloomberg

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