08 April

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Exclusive: World Bank, IMF eye ways to link debt relief to climate change spending By Reuters

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By Andrea Shalal WASHINGTON (Reuters) - The World Bank and the International Monetary Fund are planning to launch a platform to advise poor countries on funding climate and conservation activities, amid a broader push that could link such spending to debt relief, according to a draft document seen by Reuters. The advisers would include U.N. officials, nongovernmental organizations, private investors and even ratings agencies with expertise in sourcing investment, including grants, low- or no-interest loans and conditional debt relief, the document says. The initiative reflects growing recognition that the economic turmoil of the COVID-19 pandemic...

08 April

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S&P 500 Ekes Out Record High as Tech Continues Climb By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 closed at record high Wednesday on tech strength but gains were kept in check by an uptick in U.S. bond yields after the Federal Reserve's March meeting minutes continued to signal that easy monetary policy is here to stay. The S&P 500 rose 0.2%, to end the day at closing record of 4,079.95, the Dow Jones Industrial Average rose 0.05%, or 16 points, and the Nasdaq Composite was down 0.1%. The Federal Reserve minutes drew a muted a reaction in markets and didn't offer any new clues on...

08 April

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Jobless Claims, Online Gambling, Fintech: 3 Things to Watch By Investing.com

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By Liz Moyer Investing.com -- The markets were muted as everyone waited to hear the Fed’s thoughts on the current state of the economy. The indexes have surged to record highs in recent days as a strong vaccine rollout and reopening trade overcame fears that inflation is in danger of running hot. But the Fed is more focused on the labor market recovery, as its meeting minutes from last month’s policy meeting showed on Wednesday. The green shoots are sprouting, but the economy still needs help, the Fed said. At last month’s meeting, the Federal Open Market...

08 April

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Analysis: White House, U.S. companies could agree on 25% tax rate, officials, business groups say By Reuters

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By Jarrett Renshaw (Reuters) - President Joe Biden has championed raising the U.S. corporate tax rate to 28% from 21% as the main way to fund his $2 trillion infrastructure plan, but few people in Washington, including inside the White House, really think the rate will land there. Biden made it clear on Wednesday that he is open to compromise, after a reporter asked if he would be willing to agree on a tax rate below 28%. "I'm willing to listen to that, I'm wide open to it," Biden said. Reuters interviewed more than a...

07 April

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U.S. SEC blocks Amazon effort to stop shareholder votes on racial equity audit By Reuters

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(Reuters) - U.S. securities regulators on Wednesday turned down an exemption sought by Amazon.com Inc (NASDAQ:AMZN) to stop its investors from considering a shareholder proposal related to racial equity at the e-commerce giant. The decision by the Securities and Exchange Commission followed an appeal by Amazon to block the non-binding proposal from being voted on at the company's upcoming annual meeting. The proposal was first filed by New York State Comptroller Thomas DiNapoli on behalf of New York State Common Retirement Fund in December, seeking to independently audit the company's policies and practices on civil...

07 April

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Twitter held talks for $4 billion takeover of Clubhouse – Bloomberg News By Reuters

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(Reuters) - Twitter Inc (NYSE:TWTR) held discussions in recent months to buy audio app Clubhouse at a $4 billion valuation, Bloomberg News reported on Wednesday, citing people familiar with the matter. Twitter declined to comment on the report. ...

07 April

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Analysis: SDRs and debt holidays still just a band-aid for debt-hobbled countries By Reuters

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By Marc Jones LONDON (Reuters) - Debt experts, charity groups and investors welcomed news on Wednesday that the world's poorest countries will get new IMF funds and COVID-19 debt relief, but they also cautioned that for some it would still only be a band-aid solution. A new $650 billion allocation of the IMF's quasi currency known as Special Drawing Rights (SDRs) will provide over $20 billion of funding, while an extended repayment holiday on loans from rich G20 nations will temporarily save another $7 billion. The $20 billion share of the SDR increase alone is more...

07 April

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Credit Suisse in search of new map after losing way with Archegos By Reuters

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(Corrects name of analyst's employer in sixth paragraph) By Brenna Hughes Neghaiwi and Oliver Hirt ZURICH (Reuters) -Thomas Gottstein may have acted decisively enough this week to stay as Credit Suisse (SIX:CSGN) chief executive, but investors are likely to require more radical action after the bank's $4.7 billion loss from the Archegos hedge fund scandal. Credit Suisse shares have dropped by 25% in the space of a month, with Switzerland's second biggest bank reeling from its exposure to the collapse first of Greensill Capital and then Archegos Capital Management. This toxic mix has...

07 April

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Exclusive: Codelco chief bullish on copper price, fears fresh pandemic volatility By Reuters

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By Fabian Cambero SANTIAGO (Reuters) - Copper prices are likely to remain strong, but the spread of COVID-19 variants could spark fresh volatility in the market, the chairman of Chilean state miner Codelco, the world's largest copper producer, told Reuters. The price of copper has hit near decade highs this year and climbed earlier this week after Chile tightened its lockdown over a spike in COVID-19 infections, with several new variants circulating. Some analysts linked the price rise to concerns over supply. "There is a lot of concern around the world about the health...

07 April

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Fed Acknowledges Green Shoots, but Recovery Still in Need of Support, Minutes Show By Investing.com

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By Yasin Ebrahim Federal Reserve policymakers continue to back the ongoing pace of monetary support to keep the recovery on track at a time when incoming data point to a brighter outlook on economic activity and employment, according to the Federal Reserve minutes released Wednesday. At the conclusion of its previous meeting on March 18, the Federal Open Market Committee kept its benchmark rate in a range of 0% to 0.25% and pledged to maintain bond purchases at a $120 billion monthly pace. At the meeting, the bank, despite acknowledging the recent improvement in the economy...

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Exclusive: World Bank, IMF eye ways to link debt relief to climate change spending By Reuters

S&P 500 Ekes Out Record High as Tech Continues Climb By Investing.com

Jobless Claims, Online Gambling, Fintech: 3 Things to Watch By Investing.com

Analysis: White House, U.S. companies could agree on 25% tax rate, officials, business groups say By Reuters

U.S. SEC blocks Amazon effort to stop shareholder votes on racial equity audit By Reuters

Twitter held talks for $4 billion takeover of Clubhouse – Bloomberg News By Reuters

Analysis: SDRs and debt holidays still just a band-aid for debt-hobbled countries By Reuters

Credit Suisse in search of new map after losing way with Archegos By Reuters

Exclusive: Codelco chief bullish on copper price, fears fresh pandemic volatility By Reuters

Fed Acknowledges Green Shoots, but Recovery Still in Need of Support, Minutes Show By Investing.com

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