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EU to launch legal steps against Germany over ECB ruling – sources By Reuters

(Reuters) - The European Commission will start a legal procedure against Germany on Wednesday, investigating whether a German court broke EU rules by challenging central bank bond purchases already approved by the top EU court, two sources said on Tuesday. In May 2020, Germany's Constitutional Court ruled that the European Central Bank had overstepped its mandate with bond purchases. However, the EU's top court had earlier already given the green light for the ECB scheme. The European court admonished the German judges for their ruling, arguing it alone had the right to decide whether EU bodies...

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Top U.S. Maritime Regulator Sees Shipping Snarls Lasting to 2022 By Bloomberg

(Bloomberg) -- Supply Lines is a daily newsletter that tracks trade and supply chains disrupted by the pandemic. Sign up here. The top U.S. maritime regulator said stretched global supply chains pushing ocean-freight rates to record highs may stay strained into 2022, raising concerns about whether small American companies can weather another year of a tangled transport system and much higher costs. “As you see the pandemic lift, I think you’re going to see changes in what’s demanded but demand is going to go up even further,” Dan Maffei, chairman of the Federal Maritime Commission, said in...

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Apple Higher On Bullish Call, Battery Talks    By Investing.com

By Dhirendra Tripathi Investing.com – Apple shares (NASDAQ:AAPL) rose 0.7% Tuesday on positive sentiment created by a very bullish call and reports that the iPhone maker is in talks with Chinese manufacturers for a supply of batteries for its rumored electric car. Apple could hit a $3 trillion market capitalization next year, according to Wedbush analyst Dan Ives. “We think ultimately 12 to 18 months from now,” Ives told CNBC’s ‘Street Signs Asia’ when asked about a possible timeline to the next milestone. Apple is the world’s most valuable company, with a market cap of...

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S&P 500 in Sideways Action; Clover Health Rides Meme Wave Higher By Investing.com

By Yasin Ebrahim Investing.com – The S&P 500 traded sideways Tuesday as investors continue to keep their powder dry ahead of Thursday's inflation numbers, while Clover Health Investments became the latest stock to ride to meme wave higher. The S&P 500 rose 0.01%, the Dow Jones Industrial Average was down 0.02%, or 5 points, and the Nasdaq Composite was up 0.20%. Megacap tech, which is on a three-week winning streak, continued to add gains helped by weaker U.S. bond yields, but upside in the broader tech sector was kept in check by weakness in semiconductors stocks....

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FTSE 100 closes higher, GBP falls on reopening plans, Bitcoin drops By Investing.com

Key Points FTSE 100 closing price of 7,093.70, +0.23% Aviva higher as activist investor takes stake GBP falls as reopening timeline in doubt Oil choppy ahead of data, Iran talks Bitcoin drops towards recent lows By Samuel Indyk Investing.com – The FTSE 100 closed higher on Tuesday, supported by some strong company earnings and weakness in GBP. Shares in Intermediate Capital Group (LON:ICP) rose over 6% following a positive trading update pre-market. The company reported record profits in both its fund management and investment divisions. Aviva (LON:AV) shares were in focus after...

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G7 countries devise way to catch Amazon in tax net -sources By Reuters

PARIS (Reuters) - G7 states have found a way to include Amazon (NASDAQ:AMZN), one of the world's biggest companies, on a list of 100 set to face higher taxes in the countries where they do business by targeting its more profitable cloud computing unit, officials close to the talks said. Some European countries had concerns that Amazon may fall out of scope of the proposed new rules because its overall operating margin as a company is less than 10%, which is the threshold set as a criteria for companies on the list. But because its Amazon...

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Analysis: Big countries’ tax deal to reveal rift in Europe By Reuters

By Foo Yun Chee and John O'Donnell BRUSSELS (Reuters) - A global deal on corporate tax looks set to bring to a climax a deep-seated European Union battle, pitting large members Germany, France and Italy against Ireland, Luxembourg and the Netherlands. Although the smaller EU partners at the centre of a years-long struggle over their favourable tax regimes, welcomed the Group of Seven deal on June 5. for a minimum corporate rate of at least 15%, some critics predict trouble implementing it. The European Commission, the EU's executive, has long struggled to get agreement within...

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Amazon Gains As Pharmacy Unit Offers Half-Yearly $6 Prescriptions By Investing.com

By Dhirendra Tripathi Investing.com – Amazon (NASDAQ:AMZN) shares were buzzing Tuesday with its pharmacy unit launching six-month prescriptions starting at $6 in the U.S. The stock rose 1.7% and touched a high of $3,266.44 in the session so far. Prime members would get additional savings when paying without insurance, a Reuters report said. Customers can pay as low as $1 per month for select medications, including drugs to treat diabetes and blood pressure, and will get free two-day delivery. Under the new offering, customers can search for their medication by name and find out if...

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FTSE 100 lifted by miners, travel stocks; earnings shine By Reuters

By Amal S (Reuters) -London's FTSE 100 ended higher on Tuesday, helped by gains in miners and travel and leisure stocks, while upbeat earnings from Intermediate Capital Group (LON:ICP) and British American Tobacco (LON:BATS) further lifted sentiment. The blue-chip FTSE 100 index was up 0.3%, while the domestically focused mid-cap FTSE 250 index dipped 0.1%, dragged by weakness in technology and industrial stocks. Travel-related stocks climbed 2%, with Flutter Entertainment, Compass Group (LON:CPG), Just Eat (LON:JE) Takeaway.com and InterContinental Hotels Group among the top gainers. However, a...

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U.K. shares higher at close of trade; Investing.com United Kingdom 100 up 0.24% By Investing.com

Investing.com – U.K. equities were higher at the close on Tuesday, as gains in the Travel & Leisure, Real Estate Investment Trusts REITs and Software & Computer Services sectors propelled shares higher. At the close in London, the Investing.com United Kingdom 100 gained 0.24%. The biggest gainers of the session on the Investing.com United Kingdom 100 were Intermediate Capital Group PLC (LON:ICP), which rose 5.89% or 127.00 points to trade at 2283.00 at the close. Flutter Entertainment PLC (LON:FLTRF) added 3.98% or 525.0 points to end at 13715.0 and InterContinental Hotels Group PLC (LON:IHG)...

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