13 May

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Asian shares spooked by U.S. inflation alarm, yield jump By Reuters

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By Wayne Cole SYDNEY (Reuters) - Asian shares faced a third day of losses on Thursday after a shocking rise in U.S. inflation bludgeoned Wall Street and sent bond yields surging on worries the Federal Reserve might have to move early on tightening. "Higher inflation is a definite negative for equities, given the likely rates response," said Deutsche Bank (DE:DBKGn) macro strategist Alan Ruskin. "The more nominal GDP gains are dominated by higher inflation, especially wage inflation, the more the possible squeeze on profit margins. It plays to a more choppy, less bullish equity...

13 May

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Australia in ‘active talks’ with Moderna to produce COVID-19 vaccines onshore By Reuters

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SYDNEY (Reuters) -Australia is in "active talks" with COVID-19 vaccine maker Moderna (NASDAQ:MRNA) Inc to establish a domestic manufacturing facility for shots, Health Minister Greg Hunt said on Thursday, the day after securing 25 million doses from the company. Moderna on Wednesday said it would supply Australia 10 million shots designed to protect against the original strain of the coronavirus this year, and 15 million doses of its updated variant booster shot in 2022. The government will seek interest from the market to develop onshore facilities to manufacture vaccines using messenger ribonucleic acid (mRNA),...

13 May

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BHP, Rio, Vale launch contest to cut haul truck emissions By Reuters

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MELBOURNE (Reuters) - The world's top three iron ore miners on Thursday launched a competition to crowdsource efficient ways to deliver power to battery-electric haulage truck fleets as they strive to cut greenhouse gas emissions. The "Charge on Innovation Challenge", run by BHP Group, Rio Tinto (LON:RIO) and Vale S.A. with Australian mining services body Austmine, is looking for fast-charging concepts that would deliver around 400 kilowatt-hours (kWh) of electricity to truck fleets at remote mine sites. The mining industry is looking to move its diesel powered truck fleets to electric to cut...

13 May

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UK house price gauge hits four-decade high – RICS By Reuters

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LONDON (Reuters) - A measure of British house price inflation hit its highest level in four decades in April as buyers raced to take advantage of an extended tax break just as sellers retreated from the market, a survey showed on Thursday. The Royal Institution of Chartered Surveyors' gauge of house prices - which reflects the proportion of surveyors reporting price increases - jumped in April to +75, its highest level since the 1970s, from +62 in March. Other indicators have also shown that a surge in the housing market was given fresh momentum by finance...

13 May

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Tesla’s Musk reverses course on taking bitcoin, citing climate concerns By Reuters

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By Hyunjoo Jin and Kanishka Singh (Reuters) -Tesla Inc has suspended the use of bitcoin to purchase its vehicles because of climate concerns, Chief Executive Officer Elon Musk said in a tweet on Wednesday, reversing the company's stance in the face of an outcry from some environmentalists and investors. Bitcoin, the world's biggest digital currency, fell more than 7% after the tweet and was trading at $52,669. Tesla Inc revealed in February it had bought $1.5 billion of bitcoin and would soon accept it as payment for cars, driving a roughly 20% surge in the world's...

13 May

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Final leg of Huawei CFO extradition hearings set to resume in August By Reuters

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By Sarah Berman (Reuters) - Huawei Chief Financial Officer Meng Wanzhou and her legal team are set to return to court for three more weeks of extradition hearings starting Aug. 3, following a fourth attempt by Meng’s lawyers to introduce new evidence, a Canadian court heard on Wednesday. Meng, 49, was arrested at Vancouver International Airport on a U.S. warrant for bank fraud in December 2018. She is accused of misleading HSBC about Huawei’s dealings in Iran, causing the bank to break with U.S. sanctions. Meng maintains she is innocent of the charges and has been...

13 May

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Canada shares lower at close of trade; S&P/TSX Composite down 0.99% By Investing.com

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Investing.com – Canada equities were lower at the close on Wednesday, as losses in the Clean Technology, Healthcare and Materials sectors propelled shares lower. At the close in Toronto, the S&P/TSX Composite declined 0.99%. The biggest gainers of the session on the S&P/TSX Composite were Vermilion Energy Inc . (TSX:VET), which rose 4.34% or 0.40 points to trade at 9.61 at the close. Atco Ltd (TSX:ACOx) added 4.05% or 1.71 points to end at 43.96 and Whitecap Resources Inc . (TSX:WCP) was up 3.25% or 0.17 points to 5.57 in late trade....

13 May

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Biden expects spiralling Israel-Gaza conflict to end soon By Reuters

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By Nidal al-Mughrabi and Dan Williams (NYSE:WMB) GAZA/JERUSALEM (Reuters) - Israel killed a Hamas commander and vowed no let-up in its Gaza barrages as Palestinian militants rained rockets far across the border, but U.S. President Joe Biden said he expected their fiercest hostilities in years might end soon. At least 67 people have been killed in Gaza since violence escalated on Monday, according to the enclave's health ministry. Seven people have been killed in Israel, medical officials said. Israeli Prime Minister Benjamin Netanyahu said the Gaza City brigade commander was among the around 30...

13 May

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Disney Outlook, Airbnb Update, Jobless Claims: 3 Things to Watch By Investing.com

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By Liz Moyer Investing.com -- Tech stocks led the market lower on Wednesday after a Labor Department report showing inflation ran 4.2% in April over last year, the fastest pace in 13 years. Investors who are worried about inflation dumped big tech names, sending the NASDAQ Composite down more than 2.5%. Consumer prices jumped mainly because of a rise in used car prices, but the costs of food, household goods, and energy are also rising. The ongoing shutdown of the Colonial Pipeline has people in the Southeast lining up even as many gas stations report they are...

13 May

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U.S. safety agency opens probe of Tesla fatal crash in California By Reuters

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By David Shepardson WASHINGTON (Reuters) -The National Highway Traffic Safety Agency (NHTSA) said on Wednesday it is opening a safety probe into a fatal May 5 Tesla crash in California amid growing concerns about the automaker's driver assistance systems. A Tesla crashed into an overturned truck on a highway near Fontana, California, killing the Tesla's driver and injuring the truck driver and a motorist who had stopped to help him, the California Highway Patrol said. The highway patrol report did not say whether the Tesla was operating on Autopilot, its semi-autonomous driving system, when the crash...

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News

Asian shares spooked by U.S. inflation alarm, yield jump By Reuters

Australia in ‘active talks’ with Moderna to produce COVID-19 vaccines onshore By Reuters

BHP, Rio, Vale launch contest to cut haul truck emissions By Reuters

UK house price gauge hits four-decade high – RICS By Reuters

Tesla’s Musk reverses course on taking bitcoin, citing climate concerns By Reuters

Final leg of Huawei CFO extradition hearings set to resume in August By Reuters

Canada shares lower at close of trade; S&P/TSX Composite down 0.99% By Investing.com

Biden expects spiralling Israel-Gaza conflict to end soon By Reuters

Disney Outlook, Airbnb Update, Jobless Claims: 3 Things to Watch By Investing.com

U.S. safety agency opens probe of Tesla fatal crash in California By Reuters

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