03 May

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Warren Buffett’s Berkshire Hathaway faces headwinds as shareholders look to its future By Reuters

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By John McCrank and Jonathan Stempel NEW YORK (Reuters) -Some Berkshire Hathaway (NYSE:BRKa) shareholders are grappling with how Warren Buffett's conglomerate will handle a thicket of post-pandemic challenges, including looming inflation, a dearth of acquisitions and demands for more environmental and social disclosures. Making money at Berkshire used to be like "shooting fish in a barrel, but that's gotten harder," Buffett's long-time business partner Charlie Munger said at the conglomerate's annual meeting on Saturday. Investors have long been happy to bet on Buffett outperforming markets, and many remain confident Berkshire's growth will pick up if the...

03 May

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Congo declares end of Ebola outbreak that killed six By Reuters

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KINSHASA (Reuters) - The Democratic Republic of Congo on Monday declared the end of an Ebola outbreak that infected 12 people in the eastern province of North Kivu and killed six of them. The outbreak was contained using Merck's Ebola vaccine, which was given to more than 1,600 of the patients' contacts and contacts of contacts, according to the aid group Medecins Sans Frontieres (MSF). The cases were genetically linked to the 2018-20 Ebola epidemic that killed more than 2,200 people, the second-highest toll recorded in the disease's history. The flare-up emerged on Feb. 3. In...

03 May

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Britain hosts first G7 foreign ministers meeting since start of pandemic By Reuters

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LONDON (Reuters) - Foreign ministers of the G7 rich countries gather in London on Monday for their first in-person meeting since the COVID-19 pandemic began, with British host Dominic Raab opening with talks with U.S. Secretary of State Antony Blinken. The week is billed by Britain, which holds the group's rotating presidency, as a chance to reassert the West's influence and address issues such as the coronavirus recovery, climate change and how to deal with China and Russia. The ministers will lay groundwork for U.S. President Joe Biden's first scheduled trip abroad since taking office:...

03 May

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UK finance minister says Scottish independence vote would risk COVID recovery By Reuters

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LONDON (Reuters) - A referendum on Scottish independence would put Britain's economic recovery from the COVID-19 pandemic at risk, British finance minister Rishi Sunak said on Monday, campaigning ahead of Scotland's parliamentary election. Scotland will vote on Thursday for its devolved parliament, in which a victory for the Scottish National Party (SNP) is expected to create more pressure for an independence vote that has so far been rejected by the British government. Making a campaign visit for the Conservative Party, which runs the British government but has less political influence in Scotland than the SNP,...

03 May

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Commerzbank nears deal on job cuts in talks with labour reps – sources By Reuters

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FRANKFURT (Reuters) - Commerzbank (DE:CBKG) is nearing a deal with labour representatives on its restructuring plan that includes 10,000 job cuts globally, people close to the matter said. Management of Germany's second-biggest listed lender and the bank's works council have already reached an agreement in principle, they said, adding that the deal could be officially signed by the end of the week. Spokespeople for Commerzbank and the works council declined to comment. Commerzbank Chief Executive Manfred Knof said earlier this year that the turnaround plan would do without forced redundancies in Germany. The restructuring is instead...

03 May

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European stocks edge higher on earnings optimism, recovery hopes By Reuters

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(Reuters) - European stocks edged higher on Monday amid thin trading volumes due to a UK bank holiday, with sentiment remaining positive on hopes of a quick economic rebound and a strong earnings season. The pan-European STOXX 600 index rose 0.2% in its first day of trading in May. The benchmark ended April with a 1.8% rise, falling just shy of its all-time highs. Data showed German retail sales posted their biggest year-on-year increase in March since the start of the COVID-19 pandemic as easing of lockdown measures boosted purchases of clothes and shoes. IHS Markit's...

03 May

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Global Islamic finance forecast to grow as main markets recover – S&P By Reuters

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DUBAI (Reuters) - The $2.2 trillion global Islamic finance industry is expected to grow 10%-12% over 2021-2022 due to increased Islamic bond issuance and a modest economic recovery in the main Islamic finance markets, S&P Global (NYSE:SPGI) Ratings said. The industry continued to grow last year despite the COVID-19 pandemic, although at a lower pace than in 2019, with global Islamic assets expanding by 10.6% in 2020 against growth of 17.3% the previous year. Islamic finance, which bans interest payments and pure monetary speculation, has been on the rise for many years across markets in...

03 May

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Analysis: Warren Buffett’s Berkshire Hathaway faces headwinds as shareholders look to its future By Reuters

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By John McCrank and Jonathan Stempel NEW YORK (Reuters) - Some Berkshire Hathaway (NYSE:BRKa) shareholders are grappling with how Warren Buffett's conglomerate will handle a thicket of post-pandemic challenges, including looming inflation, a dearth of acquisitions and demands for more environmental and social disclosures. Making money at Berkshire used to be like "shooting fish in a barrel, but that's gotten harder," Buffett's long-time business partner Charlie Munger said at the conglomerate's annual meeting on Saturday. Investors have long been happy to bet on Buffett outperforming markets, and many remain confident Berkshire's growth will pick up if...

03 May

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German retail sales jump in March as lockdown meausres ease By Reuters

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BERLIN (Reuters) - German retail sales posted their biggest year-on-year increase in March since the start of the COVID-19 pandemic, data showed on Monday, as the relaxation of some lockdown measures boosted purchases of clothes and shoes. The Federal Statistics Office said retail sales jumped 11.0% compared to the same month a year earlier in real terms after an upwardly revised fall of 6.6% in February. The March reading overshot a Reuters forecast for a decline of 0.3% Sales of textiles, clothing, shoes and leather goods rose 27.7% compared to the same month a year earlier,...

03 May

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Hong Kong’s Economy Set to Bounce Back After Long Decline By Bloomberg

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(Bloomberg) -- Hong Kong is finally turning the corner, with the economy expected to expand for the first time since 2019 as it slowly recovers from the pandemic and social unrest before that. First-quarter gross domestic product probably increased 3.6% from a year earlier, according to median estimate in a Bloomberg survey of economists, reversing a historic run of six straight quarters of declines. Quarter-on-quarter GDP growth, a better reflection of the economy’s momentum, probably accelerated to 0.4% from 0.2% in the fourth quarter. Financial Secretary Paul Chan said in the Legislative Council last week he...

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Warren Buffett’s Berkshire Hathaway faces headwinds as shareholders look to its future By Reuters

Congo declares end of Ebola outbreak that killed six By Reuters

Britain hosts first G7 foreign ministers meeting since start of pandemic By Reuters

UK finance minister says Scottish independence vote would risk COVID recovery By Reuters

Commerzbank nears deal on job cuts in talks with labour reps – sources By Reuters

European stocks edge higher on earnings optimism, recovery hopes By Reuters

Global Islamic finance forecast to grow as main markets recover – S&P By Reuters

Analysis: Warren Buffett’s Berkshire Hathaway faces headwinds as shareholders look to its future By Reuters

German retail sales jump in March as lockdown meausres ease By Reuters

Hong Kong’s Economy Set to Bounce Back After Long Decline By Bloomberg

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