31 May

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EU says reduction in J&J vaccine deliveries only temporary By Reuters

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BRUSSELS (Reuters) - The European Commission said on Monday that the reduction in deliveries of COVID-19 vaccines from Johnson & Johnson (NYSE:JNJ) to EU member states was only temporary, and the company was still due to meet its contract for total doses by the end of this year. "Member states were informed of certain delays when it comes to the delivery of Johnson & Johnson shots, and they expressed their concern," a spokesman for the European Union executive told a news conference. "The way we understand it is that this is a temporary reduction...

31 May

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ECB’s Visco says ECB will counter any unjustified rise in interest rates By Reuters

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ROME (Reuters) - Economic recovery prospects in the euro zone remain uncertain and the European Central Bank will counter any strong rises in interest rates that are not justified by economic conditions, governing council member Ignazio Visco said on Monday. Visco, the governor of the Bank of Italy, said in a speech in Rome that the 2008-2009 financial crisis had shown the risks of premature withdrawal of monetary stimulus. In the current situation "uncertainty over the timing and the strength of the recovery require that financial conditions remain supportive for a long time," he told the...

31 May

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New euro zone business loans plunge in April By Reuters

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FRANKFURT (Reuters) -New lending to euro zone companies plunged in April, indicating that banks are tightening access to credit even as the bloc starts to emerge from a year of lockdowns, data from the European Central Bank showed on Monday. With a third wave of the pandemic receding in the region, economic activity started to pick up in April after a double dip recession but large chunks of the services sector remained shuttered and with depleted balance sheets. The monthly flow of loans to euro zone companies was a negative 26.8 billion euros in April, reversing...

31 May

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French judges to start Carlos Ghosn questioning in Beirut By Reuters

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BEIRUT (Reuters) -French investigating judges were due to start questioning fugitive former car executive Carlos Ghosn in Beirut on Monday, his lawyers said. The architect of the Renault-Nissan auto alliance has been fighting multiple probes since fleeing to Lebanon in late 2019 and has said he hopes to clear his name in financial misconduct cases against him. The French allegations concern financial misconduct in France. Ghosn's defence team said it had identified procedural irregularities in the French case which undermine the legal proceedings that are being organised by Lebanese judicial authorities. The lawyers said...

31 May

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H&M’s online second-hand shop Sellpy launches in 20 more countries By Reuters

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By Anna Ringstrom STOCKHOLM (Reuters) - Swedish online second-hand shop Sellpy, which is majority-owned by fashion giant H&M, said on Monday it was opening in 20 more European countries, in a bet demand for sustainable fashion will keep growing. The start-up handles the entire sales process from picking up the goods from sellers' homes, to photographing, selling and shipping. The expansion will take its number of markets to 24 after it first launched in 2014 in Sweden. Sellpy said in a statement second-hand was one of the fastest growing market segments within the fashion industry....

31 May

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China, in major policy shift, announces families can have three children By Reuters

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BEIJING (Reuters) -China announced on Monday that married couples may have up to three children, a major policy shift from the existing limit of two after recent data showed a dramatic decline in births in the world's most populous country. The change was approved during a politburo meeting chaired by President Xi Jinping, the official news agency Xinhua reported. In 2016, China scrapped its decades-old one-child policy - initially imposed to halt a population explosion - with a two-child limit, which failed to result in a sustained surge in births as the high cost of raising...

31 May

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OECD raises growth forecasts on vaccine rollouts, U.S. stimulus By Reuters

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By Leigh Thomas PARIS (Reuters) - The global economic outlook is improving as vaccine rollouts allow businesses to resume operations and as the United States pumps trillions of dollars into the world's largest economy, the OECD said on Monday, nudging its forecasts higher. The global economy is set to grow 5.8% this year and 4.4% next year, the Organisation for Economic Cooperation and Development said, raising its estimates from 5.6% and 4.0% respectively in its last forecasts released in March. The global economy has now returned to pre-pandemic activity levels, but has not yet achieved the...

31 May

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Japan shares lower at close of trade; Nikkei 225 down 0.99% By Investing.com

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Investing.com – Japan equities were lower at the close on Monday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors propelled shares lower. At the close in Tokyo, the Nikkei 225 lost 0.99%. The biggest gainers of the session on the Nikkei 225 were Astellas Pharma Inc. (T:4503), which rose 2.10% or 37.0 points to trade at 1797.5 at the close. Advantest Corp. (T:6857) added 2.06% or 200.0 points to end at 9890.0 and Yaskawa Electric Corp. (T:6506) was up 1.34% or 70.0 points to...

31 May

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Italy’s antitrust opens probe into BAT over covert advertising on social media By Reuters

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(Adds dropped letter in first paragraph) ROME (Reuters) - Italy's Antitrust regulator said on Monday it had launched a probe into the Italian unit of British American Tobacco (LON:BATS) (BAT) over alleged covert advertising of its tobacco heating product Glo Hyper on social media. The watchdog said in a statement three influencers, who have commercial agreements with BAT, invited their followers on Instagram to publish content linked to Glo Hyper, without specifying it was advertising. It added that the finance police had carried out inspections in BAT offices on May 27. ...

31 May

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Australian Copper Miner 29Metals Launches $471 Million IPO By Bloomberg

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(Bloomberg) -- Australian copper miner 29Metals Ltd. and its shareholders are seeking to raise as much as A$609.1 million ($471 million) in an initial public offering in Sydney, potentially marking the country’s second-largest listing to date this year. The company plans to issue A$245 million worth of new stock while current shareholders including EMR Capital Advisors are offering as much as A$364.1 million of existing shares, according to terms of the deal obtained on Monday by Bloomberg News. The listing could revive a strong start to the year for IPOs in the country, where three prospective...

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News

EU says reduction in J&J vaccine deliveries only temporary By Reuters

ECB’s Visco says ECB will counter any unjustified rise in interest rates By Reuters

New euro zone business loans plunge in April By Reuters

French judges to start Carlos Ghosn questioning in Beirut By Reuters

H&M’s online second-hand shop Sellpy launches in 20 more countries By Reuters

China, in major policy shift, announces families can have three children By Reuters

OECD raises growth forecasts on vaccine rollouts, U.S. stimulus By Reuters

Japan shares lower at close of trade; Nikkei 225 down 0.99% By Investing.com

Italy’s antitrust opens probe into BAT over covert advertising on social media By Reuters

Australian Copper Miner 29Metals Launches $471 Million IPO By Bloomberg

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