15 June

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UK’s Boohoo weathers supply chain failings with 32% jump in sales By Reuters

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LONDON (Reuters) - British online fashion retailer Boohoo weathered negative publicity over its supply chain failings, reporting a 32% rise in sales in its latest quarter, benefiting from rising demand as lockdown restrictions eased and the integration of new brands. Boohoo, which sells clothing, shoes, accessories and beauty products aimed at 16 to 40-year olds, said revenue rose 32% to 486.1 million pounds ($686.8 million) in the three months to May 31 compared to the same period last year. "I am delighted with our performance in the first quarter, particularly as it was always going to...

15 June

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After NATO, Biden turns to EU for renewal of transatlantic ties By Reuters

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By John Chalmers and Robin Emmott BRUSSELS (Reuters) - U.S. President Joe Biden will intensify his push to renew relations with Europe on Tuesday after a summit at NATO, meeting with European Union leaders to seek a truce in trade wars and a 17-year-long aircraft subsidy dispute. Seen as another opportunity to re-set ties after four tense years with Biden's predecessor Donald Trump, who imposed tariffs on the EU and promoted Britain's departure from the bloc, the meeting aims to pause the world's largest corporate trade dispute between U.S. planemaker Boeing (NYSE:BA) and Europe's Airbus....

15 June

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Eurasia Mining provides update on Rosgeo joint venture By Investing.com

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By Samuel Indyk Investing.com – Eurasia Mining has today provided an update on its previously announced joint venture with Rosgeo. In March, the AIM-listed metals producer signed an agreement with Rosgeo whereby Eurasia owns a 75% equity stake in the platinum group and battery metals assets. Eurasia Mining (LON:EUA) has announced the formation of the first joint venture company, Monchegorskoe LLC, to hold the licence for the Nyud open pit platinum group and battery metals deposit. Eurasia’s subsidiary, Yuksporskaya Mining Company, has now agreed with Rosgeo to become a 75% shareholder in Monchegorskoe after the licence...

15 June

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RBA Says Key Consideration for Yield Target Is 2-3% CPI in 2024 By Bloomberg

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(Bloomberg) -- The Reserve Bank of Australia said a key consideration for whether it extends its yield-target program is the prospect of inflation returning to target in 2024, adding that members thought it would be “premature” to consider ceasing the bank’s bond-buying scheme. “Members noted a return to full employment as a priority for monetary policy that would assist with achieving the inflation target,” the RBA said in minutes of its June meeting released in Sydney Tuesday. “Consequently, monetary policy would be likely to need to remain highly accommodative for some time yet.” The central bank...

15 June

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Asian shares mixed, dollar strong as investors eye Fed meeting By Reuters

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By Alun John HONG KONG (Reuters) - Asian shares had a mixed day on Tuesday and the dollar sat near multi-week highs ahead of a much-anticipated Federal Reserve policy meeting, which investors are watching for hints of any change to the U.S. monetary policy outlook. Japan's Nikkei rose 1.05% and the Australian benchmark, traded up 0.93%, but Chinese blue chips fell 0.97%. This left MSCI's broadest index of Asia-Pacific shares outside Japan trading flat. China's markets were closed on Monday for a holiday, meaning this was their first response to a joint statement by...

15 June

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Australia touts ‘great win’ in Britain’s first post-Brexit trade deal By Reuters

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By Colin Packham CANBERRA (Reuters) - Britain and Australia have agreed a trade deal after talks between their prime ministers ironed out outstanding issues, Australian Minister for Trade Dan Tehan said on Tuesday. The agreement will be Britain's first trade deal since Brexit, and comes as London seeks to expand commercial and diplomatic links in the Indo-Pacific region. Australian Prime Minister Scott Morrison and his British counterpart Boris Johnson overcame sticking points during talks after the Group of Seven meeting in Britain over the weekend, which Morrison had attended as a guest. "Both prime...

15 June

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UK subprime lender NSF plans $112 million capital hike, hinges on regulator talks By Reuters

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(Reuters) - British subprime lender Non-Standard Finance said on Tuesday it was seeking to raise around 80 million pounds ($112.98 million) in the third quarter potentially through a share sale that would be backed by its largest investor Alchemy. NSF, however, said the equity raise depended on talks with the Financial Conduct Authority concerning a proposed compensation payment scheme for some customers of its guarantor loans business. NSF, whose loan book at the end of a pandemic-hit 2020 was just two-thirds of what it was a year earlier, flagged in February that it needed...

15 June

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H&M’s quarterly sales surge as pandemic restrictions ease By Reuters

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STOCKHOLM (Reuters) - Quarterly turnover at H&M, the world's second-biggest fashion retailer, jumped from a year earlier as pandemic restrictions were eased, although revenue remained well below 2019 levels. The Swedish group said on Tuesday net sales grew 62% in the period - its fiscal second quarter - from a year earlier, or 75% measured in local currencies, to 46.5 billion crowns ($5.59 billion). Analysts polled by Refinitiv had on average forecast net sales growth of 66%. In the year-earlier quarter, the pandemic and government measures to slow it ground much of global trade and...

15 June

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European shares set longest winning streak since 2019 on recovery optimism By Reuters

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(Reuters) - European shares rose for an eighth straight session as optimism around a speedy economic recovery across the region lifted industrial stocks, while technology shares tracked an overnight jump in their U.S. peers. The pan-European STOXX 600 was up 0.3% by 0715 GMT in its longest winning streak in more than two years as investors also bet on global central banks keeping the stimulus taps open. Focus this week will be on the U.S. Federal Reserve's two-day policy meeting starting Tuesday for cues on the central bank's stance on a recent jump in inflation. ...

15 June

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U.S. Navy says carrier group operating in South China Sea By Reuters

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TAIPEI (Reuters) - A U.S. aircraft carrier group led by the USS Ronald Reagan has entered the South China Sea as part of a routine mission, the U.S. Navy said on Tuesday, at a time of rising tensions between Washington and Beijing, which claims most the disputed waterway. China frequently objects to U.S. military missions in the South China Sea saying they do not help promote peace or stability, and the announcement follows China blasting the Group of Seven nations for a statement scolding Beijing over a range of issues. "While in the South China Sea,...

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News

UK’s Boohoo weathers supply chain failings with 32% jump in sales By Reuters

After NATO, Biden turns to EU for renewal of transatlantic ties By Reuters

Eurasia Mining provides update on Rosgeo joint venture By Investing.com

RBA Says Key Consideration for Yield Target Is 2-3% CPI in 2024 By Bloomberg

Asian shares mixed, dollar strong as investors eye Fed meeting By Reuters

Australia touts ‘great win’ in Britain’s first post-Brexit trade deal By Reuters

UK subprime lender NSF plans $112 million capital hike, hinges on regulator talks By Reuters

H&M’s quarterly sales surge as pandemic restrictions ease By Reuters

European shares set longest winning streak since 2019 on recovery optimism By Reuters

U.S. Navy says carrier group operating in South China Sea By Reuters

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