26 August

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S&P 500 Closes Just Shy of 4,500 Amid Record Rally By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 and Nasdaq closed at record highs Wednesday, for the second-straight day as financials and energy climbed ahead of an annual Jackson Hole symposium due later this week. The S&P 500 rose 0.2% to close at record of 4,496.19. The Dow Jones Industrial Average gained 0.1%, or 39 points, the Nasdaq climbed 0.2% to a closing of 15,041.86. The tentative move higher in the broader market was led by financials, mostly banking stocks, as Treasury yields continued to make up ground,...

26 August

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Google brings Samsung 5G modem tech to U.S. market with new Pixel phone -sources By Reuters

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By Stephen Nellis and Paresh Dave (Reuters) - Google will tap Samsung Electronics (LON:0593xq) Co Ltd to supply the 5G modem for its next flagship Pixel smart phone, sources familiar with the matter told Reuters, signaling the first win for the Korean firm in a U.S. market dominated by Qualcomm (NASDAQ:QCOM) Inc. Earlier this month, Google disclosed that it has designed its own processor chip to power its new Pixel 6 and Pixel 6 Pro high-end phones, ending its complete reliance on Qualcomm, which will still supply chips for the lower-priced Pixel 5A. Nikkei Asia...

26 August

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Exclusive-Toshiba in talks with four investment firms for strategic ideas -sources By Reuters

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By Makiko Yamazaki and Scott Murdoch TOKYO/HONG KONG (Reuters) -Toshiba Corp is in talks with at least four global private equity firms including KKR & Co Inc and Blackstone (NYSE:BX) Inc to seek their ideas for its new strategy, three sources with knowledge of the matter said. Bain Capital and Canadian investment firm Brookfield have also been tapped by the scandal-hit Japanese conglomerate's strategic review committee to put together and submit their ideas for Toshiba, the sources said. The latest process is not meant to formally solicit buyout bids for the overall company or some of...

26 August

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UK insurers face final warning over car and home policies By Reuters

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By Huw Jones LONDON (Reuters) - Insurers in Britain that are not ready to implement tougher 'value for money' rules on car and home policies could face disciplinary action, the Financial Conduct Authority said on Wednesday. The FCA found in May that loyal customers were not getting value for money, and that 6 million policyholders would have saved 1.2 billion pounds ($1.65 billion) if they had paid the average instead of high prices actually paid. It set out enhanced rules from October to ensure people renewing home and motor insurance did not pay more than new...

26 August

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German court says EU rules apply to Nord Stream 2 pipeline By Reuters

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By Tom Kaeckenhoff DUESSELDORF (Reuters) -The Nord Stream 2 gas pipeline is not exempt from European Union rules that require the owners of pipelines to be different from the suppliers of the gas that flows in them to ensure fair competition, a German court ruled on Wednesday. The Duesseldorf Higher Regional Court rejected a challenge brought last year by the operators of the Gazprom-backed project to carry gas from Russia to Germany under the Baltic Sea. They had argued the rules were discriminatory. The court did not immediately explain its ruling, which can be appealed. Dutch...

26 August

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Britons turn critical of government’s pandemic response By Reuters

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LONDON (Reuters) - The British public's view of the government's management of the coronavirus crisis has turned negative for the first time since February and they are worried about the risk of a new wave of infections, according to a survey published on Thursday. Against a backdrop of a renewed rise in cases caused by the Delta variant of the virus, Kantar Public said 48% of people it polled thought the government was handling COVID-19 poorly, up three points from July, while 43% said it was doing well, down six points. Two-thirds of respondents were...

26 August

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Britain’s Greggs becomes latest food business hit by supply chain crisis By Reuters

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By Kanishka Singh (Reuters) - Greggs Plc said on Wednesday the U.K. bakery and fast food chain has become the latest food business to be hit by supply chain interruptions that are impacting businesses across the retail and hospitality sector in Britain. "Unfortunately, like others, we're seeing temporary interruptions in supply for some ingredients which occasionally results in shops not being able to maintain full availability on all lines", a Greggs spokesperson said in an emailed statement. Media reports said earlier that Greggs faced shortages of its popular chicken-based products. However, the company told Reuters in...

26 August

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Cyber threats top agenda at White House meeting with Big Tech, finance executives By Reuters

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By Andrea Shalal WASHINGTON (Reuters) - The White House asked Big Tech, the finance industry and some infrastructure companies to do more to tackle the growing cybersecurity threat to the U.S. economy in a meeting with President Joe Biden and members of his Cabinet on Wednesday. “The federal government can't meet this challenge alone,” Biden told the masked executives, all seated at tables in the East Room. "We've got a lot of work to do." Cybersecurity has risen to the top of the agenda for the Biden administration after a series of high-profile attacks on...

25 August

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For Fed Taper, Forget When It Starts. It’s the End That Matters By Bloomberg

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(Bloomberg) -- These days, all the talk in financial markets is about when the Federal Reserve will start paring its debt purchases. What’s more important, for everything from stocks to bonds to currencies, is when they will end. There have been few major moves ahead of the Kansas City Federal Reserve Bank’s virtual Jackson Hole symposium, where Chair Jerome Powell on Friday may provide insight into how and when officials will start pulling back its bond market support. That will set the timetable for how soon the Fed will raise interest rates. The stakes are high,...

25 August

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Binance can’t be supervised properly, says UK financial watchdog By Reuters

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By Huw Jones LONDON (Reuters) -The world's biggest crypto exchange Binance is not capable of being supervised properly and poses a significant risk to consumers, Britain's Financial Conduct Authority (FCA) said in a document published on Wednesday. The exchange has come under pressure from regulators across the world in past weeks due to concerns over the use of crypto in money laundering and risks to consumers. The FCA banned Binance in June from conducting any regulated activity and imposed several requirements on the platform. Its document published on Wednesday expands on its reasons for placing the...

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S&P 500 Closes Just Shy of 4,500 Amid Record Rally By Investing.com

Google brings Samsung 5G modem tech to U.S. market with new Pixel phone -sources By Reuters

Exclusive-Toshiba in talks with four investment firms for strategic ideas -sources By Reuters

UK insurers face final warning over car and home policies By Reuters

German court says EU rules apply to Nord Stream 2 pipeline By Reuters

Britons turn critical of government’s pandemic response By Reuters

Britain’s Greggs becomes latest food business hit by supply chain crisis By Reuters

Cyber threats top agenda at White House meeting with Big Tech, finance executives By Reuters

For Fed Taper, Forget When It Starts. It’s the End That Matters By Bloomberg

Binance can’t be supervised properly, says UK financial watchdog By Reuters

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