11 August

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Analysis-China regulatory storm tests nerves, limits of top-down policy By Reuters

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By Andrew Galbraith SHANGHAI (Reuters) - The regulatory storm that washed billions from Chinese corporate valuations in the name of curbing excesses exposes not only the policy risk under President Xi Jinping's increasingly activist tenure, but also the uncertainty over implementation. Xi's campaign to clamp down on industries ranging from internet platforms and bitcoin to ride-hailing giant Didi Global and tutoring marks a historic shift as he prioritises broad-based prosperity over the all-out growth pursued for decades by China. The furious pace of new rules and regulations, and the blunt and sometimes unpredictable force with which...

11 August

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Euro zone bond yields rise ahead of U.S. inflation reading By Reuters

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By Yoruk Bahceli (Reuters) - Euro zone bond yields rose on Wednesday, tracking U.S. Treasury yields higher ahead of crucial U.S. inflation data that is expected to set the tone for markets. U.S. consumer prices are expected to have risen 5.3% year-on-year in July, according to a Reuters poll, slightly below last month's 5.4% but keeping inflation elevated. The data will follow comments by two U.S. Federal Reserve officials that inflation is already at levels that satisfy one leg of a key test for tightening policy. Fed rate-setters' comments alongside better-than-expected U.S. jobs data last...

11 August

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Deliveroo CEO says he views Delivery Hero stake as a ‘financial investment’ By Reuters

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LONDON (Reuters) - The chief executive of food delivery platform Deliveroo said he had not had any talks with his counterpart at Delivery Hero since the German company took a 5.09% stake last week, adding that he viewed the move as financial. "I think his (Delivery Hero CEO) view was: the stock's undervalued, I'm gonna start buying, and I know the space super well," Will Shu said in an interview on Wednesday after Deliveroo published first-half results. "This is in my view just a financial investment." ...

11 August

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Chip shortage prompts production halt at Volvo Cars in Gothenburg By Reuters

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STOCKHOLM (Reuters) - Volvo Cars, owned by China's Geely Holding, will temporarily stop production at its Swedish plant in Gothenburg due to the shortage of semiconductor chips, it said on Wednesday. A global chip shortage has hit manufacturing, with automakers cutting down on production and electronic device makers struggling to keep up with a pandemic-led surge in demand for phones, TVs and gaming consoles. "Production at Torslanda will be paused temporarily from this evening due to a material shortage linked with the semiconductor issue," Volvo Cars said in an emailed statement. "Production will restart as...

11 August

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Lake Resources gets UK agency interest to fund Argentina lithium project By Reuters

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(Reuters) - Australia's Lake Resources said on Wednesday it had received formal interest from the United Kingdom's export credit agency to cover 70% of the funding needed for the lithium developer's flagship Kachi project in Argentina. UK Export Finance also indicated it would increase funding to boost lithium output at the project, the company said, amid rising demand for the metal used in electric-vehicle batteries. Lake Resources said the funding is not binding yet, and subject to offtake contracts, due diligence and the completion of a project feasibility study in the Catamarca province of...

11 August

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China’s Central Bank Outlook Fuels Calls for Policy Easing By Bloomberg

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(Bloomberg) -- China’s central bank fanned expectations of further monetary policy easing, saying in its latest quarterly report that inflation pressures are “controllable,” while highlighting risks to the economic growth outlook. The People’s Bank of China largely reiterated its stance of stable policy, pledging to make it more forward-looking and effective, while maintaining ample liquidity. The surge in producer inflation in the first half was likely temporary, and the domestic recovery is not yet solid, it said. The fast-spreading delta virus variant is restricting travel and spending in parts of China, prompting some economists to downgrade...

11 August

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Fed taper talk lifts dollar ahead of inflation test By Reuters

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By Tom Westbrook SINGAPORE (Reuters) - The dollar hovered near a four-month high against the euro and scaled a five-week peak on the Japanese yen on Wednesday, as traders awaited U.S. inflation data and wagered a high reading could pressure the Federal Reserve to wind back policy support. The greenback has already caught a boost from last week's strong U.S. jobs data and from recent remarks by Fed officials hinting that asset purchase tapering is on the cards. Hot inflation could also add to expectations for rate hikes next year. Six straight sessions of gains against...

11 August

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Dollar, U.S. yields gain, Asian shares held back by Delta worries By Reuters

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By Alun John HONG KONG (Reuters) - The dollar and U.S. yields extended gains in Asia on Wednesday, spurred by tapering talk, while Asian shares traded sideways on fears about the spread of the coronavirus despite a record close on Wall Street. The dollar index rose to its highest since mid July, gaining against the yen, while the euro neared year-to date lows against the greenback. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.08% in Asian trading, with Chinese bluechips down 0.38% Korea's KOSPI down 0.37%. Improving U.S. economic data and a...

11 August

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JPMorgan launches new real-time payments service By Reuters

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By Elizabeth Dilts Marshall NEW YORK (Reuters) -Global payments giant JPMorgan Chase & Co (NYSE:JPM) has launched a real-time payments option that it hopes will increase its edge in the financial industry's battle to handle more of the surging volumes of global digital payments. The new product, called request for pay, lets corporate clients send payment requests to the bank's roughly 57 million retail clients who use its app or website, cutting the cost and time it takes for those companies to get paid, said Cyrus Bhathawalla, the bank's global head of real-time payments. The digital...

11 August

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NortonLifeLock agrees to buy Avast for up to $8.6 billion By Reuters

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By Paul Sandle and Krystal Hu LONDON/NEW YORK (Reuters) -U.S. cybersecurity company NortonLifeLock Inc said on Tuesday it has agreed to buy London-listed rival Avast Plc for up to $8.6 billion in cash and shares to create a leader in consumer security software. The companies, which announced merger talks last month, said the combined group would unite their complementary strengths for more than 500 million cyber safety customers. Vincent Pilette, chief executive of NortonLifeLock, said his company was strong in identity theft protection whereas Avast was strong in privacy. "We both have the vision of...

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Analysis-China regulatory storm tests nerves, limits of top-down policy By Reuters

Euro zone bond yields rise ahead of U.S. inflation reading By Reuters

Deliveroo CEO says he views Delivery Hero stake as a ‘financial investment’ By Reuters

Chip shortage prompts production halt at Volvo Cars in Gothenburg By Reuters

Lake Resources gets UK agency interest to fund Argentina lithium project By Reuters

China’s Central Bank Outlook Fuels Calls for Policy Easing By Bloomberg

Fed taper talk lifts dollar ahead of inflation test By Reuters

Dollar, U.S. yields gain, Asian shares held back by Delta worries By Reuters

JPMorgan launches new real-time payments service By Reuters

NortonLifeLock agrees to buy Avast for up to $8.6 billion By Reuters

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