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BP to buy solar projects for up to 500 million euros in Spain – Expansion By Reuters

MADRID (Reuters) - Energy giant BP (LON:BP) is close to buying solar power projects for between 400 million euros and 500 million euros in Spain from conglomerate Grupo Jorge, Expansion newspaper reported on Friday, citing unidentified industry sources. Lightsource bp, BP's solar power unit, would take over a portfolio of photovoltaic power projects with a total potential capacity of 700 megawatts from Grupo Jorge, a privately held company with assets in pork meat, agriculture and renewable energy, Expansion said. Spain has become one of the most active markets for solar and wind power. Many...

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Tesco’s UK sales growth slows in latest quarter By Reuters

LONDON (Reuters) -Tesco, Britain's biggest retailer, reported a sharp slowdown in underlying UK sales growth in its first quarter, reflecting a tough comparison with the same quarter last year when the country was in the grip of its first COVID-19 lockdown. The group said UK like-for-like sales, excluding fuel and VAT sales tax, rose 0.5% in the 13 weeks to May 29 - ahead of analysts' average forecast of a fall of 1.0% but down from growth of 8.8% in the previous quarter. Comparing the quarter with the same quarter in 2019, before the pandemic...

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UK’s Unite Group reports 342 million-pound disposal of two London properties By Reuters

(Reuters) - UK student accommodation owner and developer Unite Group (LON:UTG) on Friday reported the disposal of two London properties to its London Student Accommodation joint venture with GIC for 342 million pounds ($475.31 million). Unite said the properties are located in Wembley and Whitechapel. ($1 = 0.7195 pounds) ...

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Car dealer Inchcape confident on earnings; warns of chip shortage By Reuters

(Reuters) - Car dealership Inchcape said on Friday its current-year earnings will top market estimates, helped by an uptick in demand following easing of pandemic-related restrictions. The company, however, warned of uncertainties in the second half of the year due to supply issues related to semi-conductor chips and the pandemic. ...

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Asian shares up but set for weekly loss after hawkish Fed By Reuters

By Andrew Galbraith SHANGHAI (Reuters) - Asian shares inched higher on Friday but were set for a weekly loss, while the U.S. dollar hovered near two-month highs as investors continued to digest comments from the U.S. Federal Reserve projecting interest rate hikes in 2023. While the Fed messaging indicated no clear end to supportive policy measures such as bond-buying, signals of faster-than-expected rate hikes indicated concerns about inflation as the U.S. economy recovers from the COVID-19 pandemic. MSCI's broadest index of Asia-Pacific shares outside Japan was barely above water in morning trade after four sessions in...

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S&P 500 Trims Losses as Tech Bulls Feast on Falling Bond Yields By Investing.com

By Yasin Ebrahim Investing.com – The S&P 500 cut losses Thursday, as tech stocks moved atop the investing menu after U.S. bond yields reversed their jump a day earlier when the Federal Reserve delivered a hawkish surprise. The S&P 500 fell 0.04%. The Dow Jones Industrial Average was down 0.63%, or 217 points, and the Nasdaq Composite was up 0.33%. The move in lower in Treasury yields suggests that we're on a path to lower growth at a time when the Fed's view that inflation is transitory gains in popularity, creating the perfect cocktail for tech...

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New Zealand PM Ardern gets ‘pain-free’ COVID vaccine shot By Reuters

WELLINGTON (Reuters) - Prime Minister Jacinda Ardern received the her first shot of the Pfizer (NYSE:PFE) COVID-19 vaccine on Friday, as the country steps up efforts to inoculate its population. The Pacific island nation shut its borders and used tough lockdown measures to become one of the few countries to have virtually eliminated COVID-19 in the community, but the government is facing criticism for a slow rollout of vaccines. "I'm smiling under the mask," Ardern said as she sat down to receive the shot at a vaccination centre in Auckland, as the media watched...

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Japan Inc lag far behind women empowerment in management roles: Reuters poll By Reuters

By Tetsushi Kajimoto TOKYO (Reuters) - Women make up less than 10% of the management in most Japanese companies, as the country's corporate sector finds it difficult to meet the business lobby's aim of boosting the number of female executives in an ageing society, a Reuters poll showed. The survey results underscored Japan's struggle to raise the share of women in leadership roles to 30% as part of the biggest business lobby Keidanren's campaign to empower women, dubbed "womenomics". Japan's global ranking on gender parity stood at 121 of 153 countries in a World Economic Forum...

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Vicious post-Fed bounce has dollar headed for year’s best week By Reuters

By Tom Westbrook SINGAPORE (Reuters) - The dollar was headed for its best week in nearly nine months on Friday as investors have scrambled to price in a sooner-than-expected ending to extraordinary U.S. monetary stimulus in the days after a surprise shift in tone from the Federal Reserve. In the two sessions since Fed officials projected possible rate hikes in 2023, the greenback has busted from recent ranges and surged about 1.8% against the euro, even further against the Aussie and more than 1% against sterling and the kiwi. The dollar index has zoomed above its...

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Bank of England to look through temporary inflation rise: Reuters poll By Reuters

By Jonathan Cable LONDON (Reuters) - British inflation can rise above 3% before the Bank of England feels discomfort, according to a Reuters poll of economists who also said the economy would expand faster than previously thought this quarter as more pandemic restrictions are lifted. The central bank has a 2% inflation target, but the rate unexpectedly jumped above that in May for the first time in almost two years and hit 2.1%, part of a post-lockdown climb in prices that is expected to gather pace. Inflation will peak at 2.4% in the final quarter of...

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