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12 May
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US athletics team cancels pre-Olympics camp in Japan-local government By Reuters

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By Eimi Yamamitsu and Sakura Murakami TOKYO (Reuters) -The United States' track and field team has cancelled its pre-Olympics training camp in Japan out of concerns for safety amid the COVID-19 pandemic, local authorities announced on Wednesday, raising more questions about the holding of the Games. The team was set to train in Chiba, the prefecture neighbouring Tokyo, leading up to the summer Games, but cancelled "out of concerns for their athletes safety", according to a statement from the Chiba administration. There was no immediate comment from USA Track and Field. "It is a shame...

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12 May
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European stocks steady after Tuesday’s rout, eyes on U.S. inflation data By Reuters

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By Sruthi Shankar (Reuters) -European stocks steadied on Wednesday after their worst selloff this year as strong earnings reports and signs of a speedy economic recovery offset concerns about a rapid rise in prices. The pan-European STOXX 600 index rose 0.2% after falling almost 2% on Tuesday as investors offloaded riskier assets on worries that rising U.S. inflation could lead to tighter monetary policy. Ample liquidity, a global semiconductor shortage and a recent rally in commodity prices are adding to fears of inflation as developed economies gradually reopen after lockdowns. All eyes will be...

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12 May
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Germany’s Greens clash with finance minister over return to debt brake By Reuters

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BERLIN (Reuters) - The German Greens' candidate for chancellor Annalena Baerbock on Wednesday criticised Finance Minister Olaf Scholz's plan to return to strict borrowing limits from 2023, saying Berlin had to invest more in climate protection, health care and education. The Greens are currently riding high in the polls ahead of Germany's Sept. 26 election, with a very good chance of joining the next coalition government or even taking over the chancellery. "We're all facing the same reality, it's not a Greens reality, that we have a giant hole in the budget due to this coronavirus...

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12 May
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Exclusive: China planning new crackdown on private tutoring sector – sources By Reuters

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By Julie Zhu and Yingzhi Yang HONG KONG/BEIJING (Reuters) - China is framing tough new rules to clamp down on a booming private tutoring industry, aiming both to ease pressure on school children and boost the country's birth rate by lowering family living costs, sources told Reuters. The clampdown will also have the effect of cooling China's cutthroat tutoring market for kindergarten through to the 12th grade, or K-12 pupils, that has grown exponentially in recent years to around $120 billion. At least one major company providing tutoring services has put a billion-dollar private fundraising...

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12 May
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Synairgen announces “significant” progress towards a treatment for COVID-19 By Investing.com

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By Samuel Indyk Investing.com – AIM-listed Synairgen has posted preliminary results for the 2020 financial year, where they have also provided an update on its treatments for COVID-19. The company, known for its work treating severe viral lung infections, reported a loss from operations of £17.7mln, with research and development expenditure amounting to £15.5mln, up from £3.5mln in 2019. The company had a cash balance of £75.0mln at the end of the year after raising £87.1mln in an equity issue in October and £14.0mln in March. COVID treatments In July, Synairgen (LON:SYNG) announced positive results from...

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12 May
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Lab supplier Merck KGaA says U.S. Defense Production Act poses challenge By Reuters

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FRANKFURT (Reuters) - Merck KGaA on Wednesday said that U.S. regulations that give priority to U.S. government contracts to purchase COVID-19 vaccines are a challenge as its seeks to meet soaring demand for its lab equipment and supplies across the globe. "We are actively expanding our capacity to be able to supply this unprecedented and ever increasing demand. Is this being a challenge? Obviously it is being a challenge," Chief Executive Belen Garijo said in a media briefing when asked what impact the U.S. Defense Production Act is having on its ability to serve vaccine makers...

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12 May
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Caterer Compass anticipates growing appetite as economies reopen By Reuters

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By Yadarisa Shabong (Reuters) -Food catering volumes will pick up from September as students return to university campuses, audiences attend sports and music events and economic activity recovers, the head of Britain's Compass Group (LON:CPG) said on Wednesday. Margins at the world's biggest catering company have increased over the last year as it managed costs and renegotiated contracts, but volumes are flat at about 70% of pre-pandemic levels. Compass, which serves office staff, school children, seniors in old age homes, armed forces and events attendees across 45 countries, expects revenue recovery to...

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12 May
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Domestic advertising sales lift Mediaset’s first quarter operating profits By Reuters

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MILAN (Reuters) - Italy's top commercial broadcaster Mediaset on Wednesday posted a 63% rise in first-quarter operating profit thanks to lower costs and rebounding advertising sales in its domestic market after last year's pandemic-driven slump. The broadcaster controlled by the family of former Prime Minister Silvio Berlusconi reported a first-quarter group operating profit of 67.9 million euros ($82.40 million) compared with 41.6 million euros last year. Domestic advertising revenue rose 6% to 453.5 million euros while total advertising sales fell to 625 million euros from 630 million euros a year ago. Total operating costs fell 11.6%...

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12 May
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UK finance minister Sunak hopes household spending will bounce back By Reuters

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LONDON (Reuters) - British finance minister Rishi Sunak said he hoped domestic consumption would bounce back this year without the need for government schemes to spur spending because household incomes had been protected during the COVID-19 pandemic. Asked if this summer would see a return of offers similar to last year's "Eat Out to Help Out" restaurant scheme, or whether he would instead trust consumers to get out and spend money, Sunak said: "As a result of the actions that we've taken over the past year, we've managed to protect a lot of household incomes."...

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12 May
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FTSE 100 outperforms European peers on strong earnings, upbeat GDP data By Reuters

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(Reuters) - London's FTSE 100 rebounded on Wednesday, supported by positive earnings updates from companies including Diageo (LON:DGE), while stronger-than expected monthly GDP data bolstered optimism about a sharp recovery from the pandemic-driven slump last year. The blue-chip index rose 0.3%, with spirits maker Diageo adding 2.7% after it forecast organic operating profit growth to be at least 14% in its current fiscal year and restarted its capital return programme. Catering company Compass Group (LON:CPG) rose 1.9% as it said its fiscal third-quarter margins would improve sequentially, supported by cost-cutting measures,...

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